TD Bank does exchange currency, but only at branches and with limits on the amount
TD Bank will exchange foreign currency for U.S. dollars and vice versa at most of its physical branches. You cannot do this online or through the mobile app — you have to visit in person with your passport or government ID. The bank does not charge a separate exchange fee, but the rate it offers is not the mid-market rate you see on financial websites. Instead, TD Bank applies a markup to the rate, which is how the bank makes money on the transaction.
The markup varies depending on the currency and market conditions, so you will not know the exact rate until you ask at your branch. Some branches may also have daily limits on how much foreign currency they keep in stock, which means they might not be able to exchange large amounts on the spot. If you need a specific currency or a large sum, calling ahead to your branch is worth the time.
Key Takeaways
- TD Bank exchanges currency at physical branches only, not online, and you must bring a government-issued ID.
- The bank does not charge a separate fee but applies a markup to the exchange rate, making the rate worse than the mid-market rate.
- The exact markup and available currencies depend on your branch location and the currency you need.
- Branches may have daily limits on foreign currency inventory, so calling ahead for large amounts is recommended.
- Other options like airport exchanges, credit unions, and online currency services may offer better rates depending on the amount and currency.
How TD Bank's currency exchange rate works
When you exchange currency at TD Bank, the rate you receive is based on the mid-market rate — the rate banks use to trade with each other — plus a markup. The markup is TD Bank's profit on the transaction. This markup is not published on the bank's website or in a rate sheet you can see in advance. It changes based on the currency pair, how much demand there is for that currency, and how much inventory the branch has.
For example, if the mid-market rate for euros to dollars is 1.10, TD Bank might offer you 1.05 or 1.08, depending on these factors. The difference between what you get and the mid-market rate is money the bank keeps. This is standard practice at banks, but it means you will almost always get a worse rate than you would if you could trade at the mid-market rate yourself.
What you need to bring to exchange currency at TD Bank
You need a valid government-issued ID, such as a passport, driver's license, or state ID card. TD Bank may also ask for your account number if you are a customer, though non-customers can exchange currency too. Bring the foreign currency in cash or traveler's checks — TD Bank does not exchange currency that is damaged, torn, or marked in a way that makes it hard to verify.
If you are exchanging a large amount, bring documentation showing where the money came from, such as a receipt from a currency exchange or a bank statement. This helps the branch process the transaction faster and avoids delays related to anti-money-laundering rules.
Limits on how much currency you can exchange
TD Bank does not publish a single daily limit that applies to all branches. Instead, each branch manages its own inventory of foreign currency. If you want to exchange a large amount — say, several thousand dollars — the branch may not have that much on hand. In that case, they can order the currency and have it ready in a few days, or they may direct you to another branch that has more inventory.
For amounts under a few hundred dollars, most branches can handle the exchange same-day. For larger amounts, calling your branch ahead of time is the fastest way to find out whether they have the currency in stock and how long an order would take.
When TD Bank currency exchange makes sense and when it does not
TD Bank's exchange is most useful if you need a small amount of currency quickly and you are already at a branch. If you are a TD Bank customer, you may also have a relationship with the branch staff, which can speed up the process. For amounts under $500, the markup is often small enough that the convenience outweighs the cost.
For larger amounts or if you are not in a hurry, other options usually offer better rates. Airport currency exchanges, online currency services like OFX or Wise, and credit unions often have lower markups or no markup at all. If you are traveling internationally and need currency before you leave, ordering online a few days ahead can save you money compared to exchanging at the bank or airport on the day you travel.
Exchanging currency if you do not have a TD Bank account
Non-customers can exchange currency at TD Bank branches, but the process may take longer. You will need to bring a valid government ID and may be asked additional questions about the source of the money. Some branches prioritize customers, so if you are a non-customer and need a large exchange, calling ahead is even more important.
If you plan to exchange currency regularly or in large amounts, opening a TD Bank account may not be worth it just for the exchange service. Credit unions and online currency services are often better options for non-customers who need frequent exchanges.
What happens if the currency is damaged or counterfeit
TD Bank will not exchange currency that is torn, stained, written on, or otherwise damaged in a way that makes it hard to verify. If your foreign currency is in poor condition, the branch may refuse it or ask you to contact the central bank of that country to exchange it for new bills. This process can take weeks and is not something TD Bank handles.
If you suspect the currency is counterfeit, do not try to exchange it at TD Bank. Counterfeit currency is a federal crime, and the bank is required to report it. Instead, contact the U.S. Secret Service or your local police department.
Frequently Asked Questions
Can I exchange currency at a TD Bank ATM?
No. TD Bank only exchanges currency at physical branches during business hours. ATMs do not have foreign currency and cannot process exchanges. You must visit a branch in person with your ID.
Does TD Bank exchange cryptocurrency or digital currencies?
No. TD Bank exchanges physical foreign currency only — paper bills and coins. The bank does not exchange Bitcoin, stablecoins, or other digital assets.
What currencies does TD Bank exchange?
TD Bank exchanges major currencies like euros, British pounds, Canadian dollars, Japanese yen, and Mexican pesos. Less common currencies may not be available at every branch. Call your local branch to ask whether they have the currency you need.
How long does a currency exchange take at TD Bank?
If the branch has the currency in stock, the exchange usually takes 10 to 15 minutes. If they need to order it, it typically arrives within two to five business days. Exchanges for non-customers may take longer.
Can I exchange currency online through TD Bank's website or app?
No. TD Bank does not offer online currency exchange. You must visit a branch in person. Some online banks and currency services offer online exchange, but TD Bank's service is branch-only.