Yes, Chase exchanges foreign currency, but you need to plan ahead and understand the costs
Chase Bank does exchange foreign currency at most of its branches, but it is not always the fastest or cheapest option. The bank buys and sells currency through a process called foreign exchange, which means converting money from one country's currency into another. Chase charges a markup on the exchange rate — the difference between what the bank pays for the currency and what it charges you — so the rate you receive is typically worse than the mid-market rate you see online.
The main limitation is that Chase does not keep all currencies in stock at every branch. Common currencies like euros, British pounds, Canadian dollars, Mexican pesos, and Japanese yen are usually available, but less common currencies may need to be ordered. Ordering takes several business days, sometimes a week or more, depending on the currency and your location.
You will need a Chase checking or savings account to exchange currency at a branch. If you do not have an account, you can still exchange at some locations, but the process is slower and the rates are typically worse.
Key Takeaways
- Chase exchanges foreign currency at most branches, but common currencies are more readily available than rare ones.
- The bank charges a markup on top of the mid-market rate, making it more expensive than some alternatives like online currency services.
- Ordering uncommon currencies can take five to ten business days, so plan your exchange well before you travel.
- You will get a better rate if you order currency in advance rather than exchanging cash on the spot at the branch.
What currencies Chase typically has in stock
Chase keeps the most widely traded currencies available at most branches without advance notice. These include the euro (EUR), British pound (GBP), Canadian dollar (CAD), Mexican peso (MXN), Japanese yen (JPY), Swiss franc (CHF), Australian dollar (AUD), and Chinese yuan (CNY). Availability varies by branch and location — a branch near an airport or in a major city is more likely to have multiple currencies on hand than a branch in a smaller town.
If you need a currency that is not commonly traded, such as Thai baht, South African rand, or Philippine peso, you will need to order it in advance. Call your local Chase branch or visit in person to ask whether they can order the currency you need and how long it will take. Some branches can order nearly any currency; others have limits based on their size and location.
How to exchange currency at Chase
The process depends on whether the currency is in stock or needs to be ordered. If the currency is available, you can walk into any Chase branch during business hours with your account card and identification. Tell the teller you want to exchange currency. You will need to specify how much you want and in what currency. The teller will tell you the rate Chase is offering that day, calculate the total, and complete the transaction on the spot.
If you need to order currency, call your branch ahead of time or visit in person. Provide the currency code (the three-letter abbreviation, like EUR for euros), the amount you need, and when you need it. Chase will place the order and contact you when the currency arrives, usually within five to ten business days. You then return to the branch to pick it up and complete the exchange. Bring your account card and identification.
Some Chase branches also allow you to order currency online through their website or mobile app, though this option is not available at all locations. Check your branch's website or call ahead to confirm.
Understanding Chase's exchange rates and fees
Chase does not charge a separate fee for exchanging currency, but the exchange rate itself includes the bank's markup. The mid-market rate is the rate banks use to trade with each other — it is the most accurate reflection of what a currency is worth at any given moment. You can find the mid-market rate on websites like XE.com or OANDA. The rate Chase offers you will be noticeably lower, meaning you receive fewer foreign currency units for your dollar (or you pay more dollars for the foreign currency).
The markup varies depending on the currency and market conditions, but it typically ranges from 2 to 5 percent. This means if the mid-market rate is 1.10 euros per dollar, Chase might offer you 1.05 euros per dollar. Over a large exchange, this difference adds up quickly.
Rates also fluctuate throughout the day. If you are ordering currency in advance, Chase will lock in the rate when you pick up the currency, not when you place the order. This protects you if the rate moves in your favor, but it also means you cannot lock in a rate early if you think the currency will weaken.
When Chase makes sense and when alternatives are cheaper
Chase is most useful when you need currency quickly and do not have time to wait for an online service to deliver. If you are leaving for a trip tomorrow and need euros, your local Chase branch may be your fastest option. Chase is also convenient if you are already a customer and have a branch nearby.
For planned trips or larger exchanges, online currency services like Wise (formerly TransferWise), OFX, or XE often offer better rates than Chase. These services typically charge a smaller markup and are designed specifically for currency exchange. They deliver currency to your home by mail or allow you to pick it up at a partner location. The trade-off is that delivery takes several business days, so you need to plan ahead.
If you are traveling internationally, another option is to withdraw cash from ATMs in the destination country using a debit card. Many ATMs offer competitive exchange rates, and you avoid carrying large amounts of cash. However, your bank may charge a foreign transaction fee, so check with Chase about its ATM fees before you travel.
What to bring and how to prepare
Bring your Chase debit card or account number, a government-issued photo ID (passport, driver's license, or state ID), and the cash you want to exchange. If you are exchanging a large amount — typically $10,000 or more — Chase is required by law to report the transaction to the federal government. This is a routine compliance requirement and does not affect your ability to exchange the currency; just be aware that it will be documented.
Before you go to the branch, decide how much currency you need. Think about what you will spend on meals, transportation, tips, and activities. It is often safer to carry some cash and use a debit card for larger purchases, rather than carrying all your spending money in cash.
If you are ordering currency in advance, call your branch at least one week before you need it, longer for uncommon currencies. Confirm the rate, the amount, and the pickup date. Ask whether the rate will be locked in when you order or when you pick up the currency.
Frequently Asked Questions
Can I exchange currency without a Chase account?
Some Chase branches will exchange currency for non-customers, but the process is slower and the rates are typically worse. If you have a Chase account, you will receive better service and rates. If you do not have an account, consider opening one before you travel, or use an online currency service instead.
What is the maximum amount of foreign currency I can exchange?
There is no set maximum at Chase, but very large exchanges (typically $10,000 or more) trigger federal reporting requirements. The bank can also limit the amount based on what it has in stock or can order. Call your branch to discuss large exchanges.
Can I return unused foreign currency to Chase?
Yes, most Chase branches will buy back unused foreign currency, though the rate will be less favorable than the rate they charged you to sell it. Bring the bills in good condition and your receipt if you have it. Some branches may refuse to buy back certain currencies or very small amounts.
How long does it take to exchange currency at Chase?
If the currency is in stock, the exchange takes a few minutes at the branch. If you need to order currency, it typically takes five to ten business days for the bank to receive it, plus time for you to pick it up. Plan ahead for any currency that is not commonly traded.
Does Chase exchange currency at ATMs?
No, you cannot exchange currency at a Chase ATM. You must visit a branch in person. However, you can use your Chase debit card at ATMs in other countries to withdraw local currency, which often offers a competitive exchange rate.