Chase offers currency exchange, but only at certain branches and with limits on the amounts and currencies available

Chase Bank does exchange foreign currency, but the service is not available everywhere and comes with restrictions. You can exchange currency at some Chase branches in person, but you cannot do it online or by phone. The bank stocks only the most common currencies — US dollars, euros, British pounds, Canadian dollars, Japanese yen, Swiss francs, Australian dollars, and a few others — so if you need a less common currency, Chase may not have it on hand or may need to order it.

The exchange rate Chase offers is not the mid-market rate you see on financial websites. Chase adds a markup, typically 2 to 3 percent above the rate they pay to acquire the currency. This means you pay more to buy foreign currency and receive less when you sell it back. The exact markup varies by currency and by branch, so two Chase locations may quote you different rates on the same day.

Chase also sets a minimum transaction amount — usually around $100 to $500 depending on the currency — and may charge a flat fee of $5 to $15 per transaction. Some branches waive the fee for customers with certain account types, but this is not may provide. Call your branch before you go to confirm they have the currency you need, what the current rate is, and whether a fee applies to your account.

Key Takeaways

  • Chase currency exchange is available in person at some branches only; you cannot exchange currency online, by phone, or through ATMs.
  • Chase stocks only major currencies and may not have less common ones in stock, so call ahead to confirm availability.
  • The exchange rate includes a markup of 2 to 3 percent above the mid-market rate, plus a possible $5 to $15 transaction fee.
  • Minimum transaction amounts vary by currency and branch, typically $100 to $500.
  • Other options like airport exchanges, credit unions, and online currency services may offer better rates depending on your situation.

How to exchange currency at a Chase branch

Bring your passport or government-issued ID and the cash you want to exchange. Chase will not exchange currency from a credit card or debit card — only physical cash. Walk into a branch during business hours and ask for the foreign exchange desk or a teller who handles currency. If the branch is small, they may not have a dedicated desk, so call ahead to confirm someone is available.

Tell the teller which currency you want and how much. They will quote you the rate for that day and tell you the fee, if any. The rate is locked in at that moment, so if you accept it, the exchange happens immediately. You receive the foreign currency in cash, and the teller records the transaction in your account if you are withdrawing from a Chase account. If you are exchanging cash you brought in, the teller may ask where the cash came from as part of anti-money-laundering compliance.

The whole process takes 10 to 15 minutes if the currency is in stock. If it is not, the branch can order it, but this takes 3 to 7 business days and may involve a higher fee or a less favorable rate because Chase has to source it from a currency supplier.

When Chase currency exchange makes sense

Chase exchange is most useful if you are already a Chase customer, need a small to medium amount of currency, and have a branch nearby. It is convenient because you can walk in, exchange cash the same day, and leave with foreign currency in hand. There is no waiting for a wire transfer or a delivery, and you do not have to trust a third-party service with your money.

Chase exchange also works well if you need an uncommon currency that online services do not stock. Some online currency exchanges only offer the top 10 to 15 currencies, while Chase may be able to order others. Call your branch and ask whether they can source the currency you need and what the cost would be.

Chase exchange is less useful if you need a large amount of currency, because the markup and fees add up quickly. If you are exchanging $5,000 or more, the 2 to 3 percent markup alone costs $100 to $150, and you may find a better rate elsewhere. It is also less useful if you do not have a Chase branch nearby or if you need the currency on short notice and the branch does not have it in stock.

Alternatives to Chase currency exchange

Online currency services like OFX, Wise, and XE Money Transfer often offer better rates than Chase because they have lower overhead and do not add as large a markup. These services typically charge a flat fee of $2 to $10 and offer rates within 1 to 2 percent of the mid-market rate. The tradeoff is that delivery takes 1 to 3 business days, and you have to transfer money electronically rather than exchanging cash in person.

Credit unions sometimes offer currency exchange to members at rates better than Chase. If you belong to a credit union, call and ask whether they exchange currency and what their rates and fees are. Some credit unions partner with other credit unions through shared branching networks, so you may be able to exchange currency at a location other than your home branch.

Airport currency exchanges are convenient if you are traveling, but they almost always charge higher markups and fees than Chase or online services. Use them only if you have no other option and need currency immediately before a flight.

If you are sending money to another country rather than exchanging cash, wire transfers through Chase or a service like Wise may be cheaper than exchanging currency and carrying it with you. Wire transfers lock in a rate and deliver the money to a bank account abroad, so you avoid the risk of carrying large amounts of cash.

What to ask your Chase branch before you go

Call the branch where you plan to exchange currency and ask these questions: Do you have [currency name] in stock right now? If not, how long does it take to order and what is the fee? What is today's exchange rate for [currency]? Is there a transaction fee, and does my account type waive it? What is the minimum amount I can exchange? Do you need advance notice if I want to exchange a large amount?

Write down the rate the teller quotes you, because rates change throughout the day and the rate you are quoted on the phone may not be the rate you receive when you arrive. Ask whether the rate is may provide for a certain period — some branches will hold a rate for 24 hours if you ask, but this is not standard.

If the branch does not have the currency in stock and needs to order it, ask when it will arrive and whether you can pick it up at that branch or whether you have to go to a different location. Some branches order currency to a central location and you have to travel to get it.

Fees and markups explained

Chase's markup is the difference between the rate they pay to buy currency and the rate they charge you to buy it from them. If the mid-market rate for euros is 1.10 USD per euro, Chase might charge you 1.1265 USD per euro — that 0.0265 difference is roughly a 2.4 percent markup. You do not see this as a separate line item; it is built into the rate the teller quotes you.

The transaction fee is separate and is charged on top of the markup. A $10 fee on a $1,000 exchange is 1 percent of the amount you are exchanging, so your total cost is the markup plus the fee. On a smaller exchange of $200, a $10 fee is 5 percent, which is much more painful.

Some Chase accounts — particularly premium checking or investment accounts — waive the currency exchange fee. If you have a Chase Premier Plus checking account or a Chase Sapphire banking package, ask whether the fee is waived. This does not waive the markup, only the flat fee.

Frequently Asked Questions

Can I exchange currency at a Chase ATM?

No. Chase ATMs dispense only US dollars. You cannot exchange currency at an ATM or request a foreign currency withdrawal. You must go to a branch in person and speak to a teller.

What if my local Chase branch does not have the currency I need?

Ask the teller whether they can order it. Most branches can order common currencies within 3 to 7 business days. Less common currencies may take longer or may not be available at all. If Chase cannot source it, you will need to use an online currency service or a specialty currency exchange.

Is Chase currency exchange cheaper than using a credit card abroad?

It depends on the card and the currency. Some credit cards charge 3 to 4 percent for foreign transactions, which is higher than Chase's 2 to 3 percent markup. Others charge 0 to 1 percent. Check your card's terms before you exchange cash, because using the card abroad may be cheaper than exchanging currency upfront.

Can I exchange currency if I do not have a Chase account?

Yes, but you may pay a higher fee. Some Chase branches will exchange currency for non-customers, but they may charge an extra fee or require a minimum transaction amount. Call your branch and ask. You will need to bring a government-issued ID.

What happens if the exchange rate changes between when I call and when I arrive?

The rate you receive is the rate in effect when you complete the transaction at the branch, not the rate quoted on the phone. Rates change throughout the day. If you want to lock in a rate, ask the teller whether they can hold a rate for 24 hours — some branches will do this, but it is not may provide.