How long does it take to get foreign currency from the bank?
You can order foreign currency cash online, using the mobile app, in person or by phone and have currency delivered within 2-7 business days.
Some banks such as Citibank and Bank of America may not charge a fee and will provide options such as conducting the transaction online or even mailing you the currency. If you need amounts of $1,000 or more, most banks require you to pick up the currency in person at a branch.
Ordering currency from your bank before you travel is almost always better than using the airport currency exchange. Sally French is a travel rewards expert who joined NerdWallet in 2020. She previously wrote about travel and credit cards for The New York Times and its sibling site, Wirecutter.
Orders placed before 2 p.m. (delivery address local time) are shipped the same day. Orders placed after 2 p.m. or on Saturdays, Sundays and holidays are shipped the next business day. With standard shipping, orders generally arrive within 1-3 business days.
You may be able to get foreign currency in cash at your local bank branch, or you can order currency online or by phone to be delivered to your home. Depending on your bank, where you live and which country's currency you need, some currencies may be available for same-day exchange.
- Stop by Your Local Bank.
- Visit an ATM.
- Consider Getting Traveler's Checks.
- Buy Currency at Your Foreign Bank Branch.
- Order Currency Online.
- Bottom Line.
- Tips for Money Management.
It's possible of course that you might get a better deal when you land in Europe. It may well be the case that fees are lower and exchange rates better. But this leaves you with uncertainty, which is never good when you're dealing with money.
Using local banks and exchange offices abroad can be a viable option for currency exchange. Local establishments often offer competitive rates and lower fees compared to airport and hotel services.
Local banks and credit unions usually offer the best rates.
Resist the urge to buy foreign currency before your trip.
Some tourists feel like they just have to have euros or British pounds in their pockets when they step off the airplane, but they pay the price in bad stateside exchange rates. Wait until you arrive to withdraw money.
Can I walk into Bank of America and exchange currency?
Bank of America account holders can exchange foreign currency (no coins) for U.S. dollars at a full-service financial center. Use our foreign currency calculator to find out how much your foreign currency is worth in U.S. dollars.
Foreign currency ordering details
before 2 p.m. local time of your address of record (on the account you're using to pay for the order) will ship the same day. Orders placed Mon.-Fri. after 2 p.m. local time of your address of record (on the account you're using to pay for the order) will ship the next day.
Shipping can take up to 3 business days in most cases, so be sure to allow enough time to receive your cash before your trip. Currency purchases less than $200 have a $10 shipping fee, and amounts greater than $200 USD are shipped free to the branch location.
A Bank of America International Transaction Fee of 3% will apply when converting your currency.
Some branches, such as those located at airports, may offer currency exchange. Another option is to use your Chase debit card abroad, although there will be foreign transaction fees to pay – 3% of the withdrawal amount after the conversion to USD.
Yes, you can get Euros from the Post Office without ordering. However, they may not always have the amount you require available, resulting in a drive to the next post office. You can call them in advance to pre-order your Euros. Before you exchange your cash, consider trying a travel card on your holidays instead.
Before your trip, it's best to exchange money at your bank or credit union, which likely offers better rates and fewer and/or lower fees. Your bank or credit union may buy back leftover foreign currency in exchange for dollars when you return.
It is cheaper to exchange money at the bank (or by using an ATM) than the airport. That's because currency exchange stores and kiosks at the airports mark up the exchange rate to make a profit. They know that travelers who just got off a plane probably need money right away.
Most banks and credit unions can do the currency conversion for euros. That said, it is always wise to call ahead of time to ensure they can accommodate such an exchange. Before exchanging currency at a bank, You should ask a few questions: What is the foreign exchange rate?
It all depends on where you're going and what you plan to do during your trip. As you can see from our travel costs table above, some European cities are cheaper or more expensive than others. As a general rule, though, it's a good idea to budget at least $100 a day for your vacation.
How much cash should you travel with internationally?
A good rule of thumb, though, is that, on average, you should plan to carry between $50 and $100 per day in the currency of the country in which you're travelling. As with all things, research is your friend here. Understand where you're travelling and what the local customs regarding cash are.
To quickly recap, if you are traveling to Europe, you are looking at spending around 120 euros per day on average. However, once you have your itinerary in place (try using our convenient tour builder), you will have a tailored and accurate answer to the ever-relevant question - how much to budget per day in Europe.
Because merchants pay commissions to credit-card companies, small European businesses (B&Bs, mom-and-pop cafés, gift shops, and more) often prefer that you pay in cash. Vendors might offer you a discount for paying with cash, or they might not accept credit cards at all.
Typically, the least busy times of the week are Mondays, mid-week and the weekend (excluding Friday). These days have the lowest number of transfers in the week, so you might expect to see less fluctuation in the mid-market rate.
Using a credit card with no foreign transaction fees and choosing to make purchases in local currency will nearly always save you money. Currency conversion apps can help you better understand pricing and identify hidden charges.
