Finding a place to exchange foreign currency can be challenging. From banks to airport kiosks, every currency exchange business has different rules about exchange rates, fees, waiting periods, and more.
To help, we’ve created the following list of the best places to exchange foreign currency based on the features that matter to you most.
Table of Contents
Top Locations to Exchange Foreign Currency
Below are eight places you can go to exchange foreign currency. The best option for you will depend on several factors, including exchange rates, fees, and location (convenience).
Bank of America
Number of locations: 6,200+
Fees: Shipping fees only
Bank of America offers currency ordering and exchange for customers with banking accounts and/or credit cards.
Bank account holders can order currency online from the Bank of America website. If you’re a credit card customer only, you can visit a branch location to order currency.
When ordering online, you will pay a shipping fee of $7.50 for orders totaling less than $1,000. Shipping is free on orders of $1,000 or more.
Bank of America has over 6,000 financial service centers available in the U.S. across nearly 40 states.
Pros
- Thousands of locations
- Free shipping for orders of $1,000 or more
- Use online banking or your mobile app to order
Cons
- Credit card customers without bank accounts must order in person
- Credit card-only customers must pay cash for foreign currency orders
Wells Fargo Bank
Number of locations: 5,000+ in the U.S., over 8,000 worldwide
Fees: $0
Wells Fargo has over 5,000 branch locations in the U.S. alone. You can order foreign currency at a branch location, online through their website, or by calling 1-800-626-9430.
They don’t have foreign currency available at the branch locations. For that reason, you should expect a 2-7 day wait for your order to come in, and order in advance according to your schedule.
There is a minimum order amount of $200 and a maximum order amount of $3,000 per day with Wells Fargo.
You can place a special order for over $3,000 in foreign currency by visiting a branch location. Wells Fargo sells over 70 foreign currencies but may not buy back every currency they sell.
Only Wells Fargo checking and savings account customers can place orders for foreign currency.
Pros
- No fees for ordering foreign currency
- Over 70 currency types
- Locations in nearly every U.S. state
Cons
- Won’t buy back every currency they sell
- Only Wells Fargo checking and savings account holders can order
US Bank
Number of locations: 3,000+ in 27 U.S. states
Fees: $10 for orders under $250, $0 for orders over $250
US Bank is another bank that can be great for processing currency exchange. You can order currency by visiting a local US Bank branch, ordering online at the US Bank website, or ordering via the mobile app.
Note that you must have a US Bank checking, savings, or money market account to place a foreign currency exchange order.
Pros
- Thousand of locations in 27 states
- Fee-free for orders over $250
- Order online, via the mobile app, or in person
- Over 70 currency types
Cons
- US Bank customers only
Citibank
Number of locations: 700+ in the U.S., 2900+ worldwide
Fees: $5 per transaction if under $1,000, shipping fees for shipped orders
Citibank offers currency exchange and currency orders for customers both in branch locations and online.
If you order online through Citibank’s World Wallet program, you must order a minimum of $100 or a maximum of $3,000 for their home delivery service.
Citibank won’t accept cash orders for foreign currency, so be ready to pay via your Citibank account or via a credit card.
Delivery of your currency order is free if you have it sent to a Citibank branch location. If it’s delivered to your home, you’ll pay between $10 and $20, depending on the type of delivery you choose.
There are no fees, including delivery fees, for Citigold or Citi Priority customers.
Pros
- No transaction fees for orders over $1,000
- No fees whatsoever for Citigold or Citi Priority customers
- Next-day delivery is available
- Over 50 currency types
Cons
- No cash orders accepted
- Orders must be paid through Citibank bank accounts
Huntington Bank
Number of locations: 1000+ in the U.S.
Fees: $8 per transaction
Huntington Bank has over 1,000 U.S. locations in ten states: Kentucky, Indiana, Ohio, Minnesota, Michigan, Pennsylvania, Illinois, Colorado, West Virginia, and Wisconsin.
Note that you must go into a Huntington Bank branch to order foreign currency. There is no online ordering option as of this writing.
The flat $8 fee for currency exchange makes the process simple and easy to understand. Huntington won’t accept cash orders for currency exchange.
Instead, the money will be deducted from your Huntington Bank checking or savings account. This means that non-customers can’t get foreign currency from Huntington Bank.
Pros
- No minimum order amount
- Exchange up to $20,000
- Exchange unused foreign currency for credit to your bank account at any branch
- Over 75 currency types
Cons
- $8 flat fee, no exceptions
- No online orders available as of this writing
Your Local Bank or Credit Union
Number of locations: Varies
Fees: Varies
Your local bank or credit union might be the perfect place for currency exchange near you. Not all local banks and credit unions deal in foreign currency, but many do.
Fees vary based on the bank or credit union. Delivery times, minimum and maximum currency orders, and types of currency you can order varies as well.
You’ll want to check with your local bank or credit union well in advance, as some smaller institutions may have longer wait times or not offer foreign currency services at all.
If you travel often, foreign currency services are something you should consider when trying to find a checking or saving account.
Pros
- Convenient
- Fees may be more reasonable
- Local banks may offer other benefits
Cons
- Smaller banks and credit unions may not offer foreign currency services
- Fees and wait times may be larger in some instances
Airport Kiosks
Number of locations: Varies based on the airport
Fees: Varies
Nearly all larger airports host currency exchange kiosks where you can exchange a number of currencies.
Using airport kiosks for currency exchange can be the most convenient option when traveling.
However, you will pay for this convenience in the way of fees that are often much higher than what you’d pay at your bank or credit union.
If the convenience of getting your currency exchanged right at the airport is worth the higher fee rate, you may want to use an airport kiosk instead.
That being said, if you’re the type of person that’s always looking to save more of your paycheck, you’ll want to avoid airport kiosks and make your exchange at the bank.
Pros
- Convenient if you have to go to the airport anyway
- Saves you an extra trip
Cons
- High fees
Hotels
Number of locations: Varies
Fees: Varies
Most major hotels offer currency exchange services, but there are often two problems: limited availability and high fees.
Since hotels aren’t made for dealing with money as banks and credit unions do, you will pay for this “extra service” in the form of higher fees.
Just like with airport kiosks, hotel currency exchange dealers know you’re often between a rock and a hard place if you’re exchanging currency at the hotel. In other words, you forgot to stop at the bank or didn’t get as much foreign currency as needed.
Therefore, you’re going to pay for this premium hotel service. The other issue that can arise with exchanging currency at a hotel is that the hotel currency service may not have as wide of a selection as you’ll find at a bank.
While hotels will do in a pinch when it comes to currency exchange, your pocketbook will thank you if you get your money at a bank or credit union.
Pros:
- Can be convenient, especially if you’re in a pinch
- Saves you an extra trip
Cons
- Fees are often higher than what you’ll pay at the bank
- You may not find the same availability that you’ll find at the bank
Online Money Transfer Service
Number of Locations: Online platform, no physical locations
Fees: Varies, but typically lower than 1%
If you need to transfer money to someone in a foreign country, an online money transfer service like Wise is one of the cheapest and easiest ways to do it.
Wise, formerly known as TransferWise, is a New York City-based global money transfer system. Their unique business model enables them to exchange funds at the mid-market exchange rate. They make their money by charging a small transaction fee.
When you exchange money through a bank, their exchange rate always includes a spread, so they can take some profit. Wise is able to use the money they hold in local accounts in the countries they deal with to transfer funds without your money having to cross any borders.
All you need is a bank account number for the person you’re sending money to, and you can send funds through your bank account, debit card, or credit card. Wise also has a mobile app so you can send money on the go.
For more information, check out our Wise review or get started with Wise.
Pros:
- Best for international money transfers
- Money is exchanged at the mid-market rate
- Low fees
Cons:
- Not useful for exchanging cash
Final Thoughts
The best foreign currency exchanges offer several currencies for exchange, acceptable wait times, and low fees. Before you exchange money, ask the exchange about their policies for accepting the specific currency you’re buying in case you want to exchange it back in the future.
Many currency exchanges will sell it to you but won’t buy it back, depending on the currency. And if you’re traveling, plan to exchange currency well before your trip, and it can take up to 7 days or more if the currency needs to be shipped. The more prepared you are, the better.
