PNC Bank does exchange foreign currency, but the process and fees depend on which branch you visit and what currency you need

PNC Bank offers foreign currency exchange at many of its locations, though not every branch handles it. The bank can exchange major currencies like euros, British pounds, Canadian dollars, Japanese yen, and Mexican pesos. If you need a currency PNC doesn't stock, they can usually order it for you, though this takes several business days and costs more.

The exchange rate PNC offers is not the same as the mid-market rate you see online. Banks buy and sell currency at wholesale prices, then mark up the rate they give you — this markup is how they make money on the transaction. The exact markup varies by currency and by branch, so calling ahead to compare rates makes sense if you're exchanging a large amount.

Key Takeaways

  • PNC exchanges major foreign currencies at many branches, but you should call your local branch first to confirm they have the currency in stock.
  • The exchange rate PNC offers includes a markup above the mid-market rate, and this markup is not the same at every branch.
  • Ordering a currency PNC doesn't have in stock takes three to five business days and usually costs more than buying from stock.
  • You will need a valid government ID and may need to provide information about why you need the currency if the amount is large.

What currencies PNC keeps in stock

PNC regularly stocks the most common currencies: euros (EUR), British pounds (GBP), Canadian dollars (CAD), Japanese yen (JPY), and Mexican pesos (MXN). Availability varies by branch location — branches in areas with more international travel or immigration tend to stock more currencies and larger amounts.

If you need a currency PNC doesn't have on hand, you can request it. The bank will order it from a currency supplier, which takes three to five business days. You'll pay a higher exchange rate for ordered currency than for currency they have in stock, because PNC has to pay the supplier's markup and wait for delivery.

How to exchange currency at PNC

Call your local PNC branch and ask if they have the currency you need in stock. Give them the amount so they can tell you the exchange rate they're offering that day. If the rate works for you, you can either exchange the currency the same day or make an appointment if you're exchanging a large amount.

Bring a valid government ID — a driver's license, passport, or state ID card. If you're exchanging more than $10,000 in any form (cash, traveler's checks, or currency), PNC is required by federal law to report the transaction and may ask you questions about the source of the money and what you plan to use it for. This is routine and not a sign of a problem.

You can exchange currency in person at the branch, or at some PNC locations you can order it online or by phone and pick it up. Ask your branch which options they offer.

Exchange rates and fees at PNC

PNC does not charge a separate fee for currency exchange — instead, the cost is built into the exchange rate. When you exchange $1,000 USD for euros, for example, PNC gives you fewer euros than the mid-market rate would suggest. The difference between what you get and what the mid-market rate would give you is PNC's profit.

The markup varies by currency. Major currencies like euros and British pounds have smaller markups because PNC trades them in high volume. Less common currencies have larger markups because PNC has to hold more inventory and take on more risk.

Exchange rates change throughout the day as global currency markets move. The rate PNC quotes you is good for that moment, but if you wait a few hours or a day, the rate may be different. If you're planning a trip or a large transfer, checking the rate a few days before you need the currency can help you decide whether to wait or exchange now.

Alternatives to PNC for currency exchange

If PNC's rate or timeline doesn't work for you, other options exist. Currency exchange shops in airports and tourist areas offer convenience but usually have the worst rates of any option. Credit unions sometimes offer better rates than banks if you're a member. Online currency exchange services like OFX or Wise let you lock in a rate online and pick up currency at a partner location, though these services work best for larger amounts.

If you're sending money to another country rather than exchanging it in person, a wire transfer through PNC or an international money transfer service may be cheaper and faster than exchanging cash and carrying it.

What to expect when you visit the branch

Bring your ID and the cash or traveler's checks you want to exchange. The teller will count your money, confirm the exchange rate with you, and process the transaction. The whole visit usually takes 10 to 15 minutes if the currency is in stock.

If you ordered the currency in advance, the teller will have it ready for you. If you're exchanging a large amount or an unusual currency, the process may take longer because the teller may need to verify the transaction or contact a supervisor.

PNC will give you a receipt showing the amount you exchanged, the rate used, and the amount you received. Keep this receipt in case you need to return the currency or if you need documentation for tax or travel purposes.

Frequently Asked Questions

Can I exchange currency at any PNC branch?

Most PNC branches exchange currency, but not all. Smaller branches or those in rural areas may not stock foreign currency. Call your branch first to confirm they offer the service and have the currency you need in stock.

How long does it take to get a currency PNC doesn't have in stock?

Usually three to five business days. The exact timeline depends on the currency and where PNC's supplier is located. Ask your branch for a specific date when you request the order.

Is PNC's exchange rate better or worse than other banks?

PNC's rates are typical for a large bank — better than airport kiosks or tourist-area exchange shops, but usually worse than online services or credit unions. For the best rate, compare quotes from at least two sources before you exchange.

What if I need to exchange currency on a weekend or after hours?

PNC branches are closed on weekends and evenings. If you need currency outside business hours, an airport currency exchange or 24-hour ATM that dispenses foreign currency may be your only option, though the rates will be less favorable.

Can I return foreign currency I don't use?

Yes, most PNC branches will exchange unused foreign currency back to US dollars, though you'll pay the exchange rate again (which works against you). Keep your receipt and return the currency in its original condition. Some branches have time limits on returns, so ask when you first exchange.