Does Chase Exchange Foreign Currency?

When traveling internationally, it is important to be able to exchange your dollars for the local currency of your destination. Likewise, if you are coming from outside the United States, you will need U.S. dollars to get by.

In the United States, you can exchange money at currency exchanges at the airport, but sometimes the exchange rate is not favorable. Many others will opt to exchange their money at their local bank.

This leads to the question: does Chase exchange foreign currency? Read on to find out.

Does Chase Exchange Foreign Currency?

Chase will exchange foreign currency. The bank will carry the most popular currencies such as Euros, Canadian dollars, or Mexican Pesos. Chase can also exchange less common currencies, but the exchange may need to be scheduled in advance. Chase customers can utilize this service with no additional charge.

Exchanging currency is a relatively uncommon service, so it is always best to call ahead. Even for commonly exchanged currencies, which money is on hand will vary from branch to branch.

On the other hand, if you are looking to exchange your foreign currency for US dollars, most branches will exchange your money. Generally, Chase can offer an exchange rate 15% lower than Kiosks found at most travel hubs such as airports.

Read on to find out which branches can exchange foreign currency.

Do All Chase Branches Exchange Foreign Currencies?

All Chase branches across the United States can offer foreign money exchange. With branches located across the 48 contiguous states, most people with a Chase account can use this service. However, the type of currency that is on hand will vary from location to location.

For example, a Chase bank in a major transportation hub or near the border may have a wider array of currencies on hand, whereas Chase branches located in more remote parts of the country may need to order money in advance.

To that end, if you are buying a foreign currency, it is best to contact your local Chase branch ahead of time, to ensure they have the currency you need. If they do not carry the currency at that location, they can order the money for you if they are given enough notice.  

What is the Chase Foreign Currency Exchange Policy?

Foreign currency exchange is available for all Chase customers. To exchange currencies, you will need to have an active Chase Checking account in good standing.

Customers should exchange their money at a physical branch, and should call the bank ahead of time – especially if the currency they are exchanging is more uncommon.

The next section will cover everything you need to know about the cost of exchanging foreign currency with Chase.

Does Chase Charge to Exchange Currency?

Chase does not have any additional or hidden fees when exchanging currency. In terms of cost, the only thing to consider is if Chase offers the best exchange rate among financial institutions that you can access.

Exchange rates will vary based on several factors. Some of these factors include which currency you are exchanging, the amount of money you are exchanging, and even the date that you make the transaction.

Read the next part to ensure you have everything you need to exchange your currency with Chase.

What Documents Do I Need to Exchange Foreign Currency?

The only items you will need to successfully exchange currency at Chase, are your ID and proof of an account with Chase. For example, you may consider having your debit card on hand as evidence of your membership.

If you do not have a Chase account at this time, you can easily sign up online. Simply click on this link, select the account that best suits your needs and click “open now”.

Read ahead to the next section for other ways that Chase can support your foreign transactions.

Can You Use Your Chase Accounts Abroad?

If you are not able to exchange money ahead of time, you can still use your Chase debit or credit cards to make purchases or withdraw money in a foreign country. This will generally be more expensive, as for most accounts you will be charged a foreign transaction fee.

You can use your Chase card anywhere that Visa is accepted. You will be charged $5 for withdrawing money from the ATM, and a 3% fee on any point-of-sale transaction while abroad.

To avoid fees, consider signing up for a travel credit card. Chase offers many travel credit cards which not only have no foreign transaction fees, but also offer perks that even result in free air travel, hotels, and more.

After reviewing everything there is to know about exchanging currency at Chase, you may be wondering other ways you can exchange foreign currency. To that end, be sure to review the next section.

What Other Places Exchange Foreign Currency?

In addition to banks like Chase, there are other institutions that can help exchange foreign money. Airports and travel hubs often have exchange kiosks, and even some hotels may offer to exchange your money.

Ultimately, if you are based in the United States the most reliable way to exchange currency is through a bank or credit union, like Chase. Large banks such as Chase, Bank of America, and Wells Fargo will often offer more competitive rates compared with other private foreign currency exchanges.

Foreign currency exchanges usually offer less favorable rates but are located in convenient travel hubs such as airports. You can save money by planning and exchanging your currency with your bank.

Does Chase Exchange Foreign Currency in 2021?

Chase does offer money exchange services and is likely one of the best options to do so in 2021. Because there are no fees, Chase’s service will offer a better overall deal compared with private foreign exchange companies.

To exchange money with Chase, you will need an active Chase Checking account in good standing. Then simply locate your closest Chase bank. Be sure to call ahead and budget at least 3 business days, especially if you are exchanging a currency that is less commonly carried.