US Bank Foreign Currency Exchange (Fees & Policies)

Exchanging foreign currency can be quite painful if you are not aware of standard conversion rates and exchange fees.

Hence, banks or even local credit unions might be your best bet to exchange your foreign currency. However, if you are traveling abroad, you might need to go to some affiliated partner of your bank.

Here are a few financial institutions and their foreign currency exchange info:

InstitutionForeign Currency Exchange
ChaseFees & Policies
Bank of AmericaFees & Policies
Wells FargoFees & Policies
US BankFees & Policies
PNCFees & Policies
Truist BankFees & Policies
Capital OneFees & Policies
WalmartFees & Policies

Does US Bank Exchange Foreign Currency?

The US Bank can exchange your foreign currency at any branch in the country. For transactions of up to $250, the fee is flat $10, while transactions over $250 are charged with a $0 exchange fee.

For a transaction of up to $250, the exchange fee is flat $10. However, for transactions above $250, there is a $0 exchange fee. But, in both cases, the minimum exchange currency value should be $20.

Also, you can convert almost any currency into US dollars based on the current foreign exchange rates. Moreover, you need to be an account holder to do so.

However, you might face difficulties in exchanging a foreign currency at a local branch. This might be due to the popularity of the currency or even the absence of adequate funds in the branch. You can locate the nearest US Bank branch here.

Nowadays, many travelers and tourists opt for low-fee credit/debit cards. It saves them the hassle to exchange currencies at a bank.

US Bank Foreign Exchange Policy

The US Bank Foreign Exchange policy states that you must have a checking, savings, or money market account to exchange any foreign currency.

Moreover, you would also be required to show valid identification proof at the time of exchange. Also, your foreign currency is subject to review.

The US Bank also states that the minimum currency value should be greater than or equal to $20.

Fees to Exchange Foreign Currency

The US Bank does charge for exchanging your foreign currency. However, the exchange fee is quite competitive when compared to other banks.

For a transaction of up to $250, the exchange fee is flat $10. However, for transactions above $250, there is a $0 exchange fee. But, in both cases, the minimum exchange currency value should be $20.

Also, the exchange fee is non-negotiable at any US Bank branch. You will have to pay the additional fees.

What You Need to Exchange Foreign Currency

To exchange currencies at US Bank branches, you are required to have either savings, checking, or a money market account with them. Also, you should carry a valid id proof with you.

If you don’t have the required documents, you can even opt for other credit union exchanges or even some hotels.

However, if you are traveling, you can even use their credit/debit cards and exchange foreign currency at any ATM at a minimal transaction fee of 2-3%.

US Bank Does Not Exchange Currency Online

Unfortunately, US Bank doesn’t let you exchange foreign currency online. You do need to book an appointment and visit the nearest branch. Also, the charges are $10 for exchange of $20-$250 and above $250, it’s free.

However, you can use their debit/credit cards in any part of the world with a minimal transaction fee of 2-3%.

Alternative Places to Exchange Foreign Currency

If you have an account in any of the major US Banks, you can easily convert your foreign currency. However, not having one can seriously put you into trouble as other alternatives may charge exorbitantly high rates.

Speaking of alternatives, you have the option of exchanging your currency at hotels, airports private currency exchange businesses like TravelEx. Also, there are other private companies like First Horizon that have their stores all across the US.

However, still in 2022, to get your currency exchanged, we recommend you open a bank account at any major bank. This is because banks convert currencies at an extremely competitive exchange rate.

Key Takeaways

You can exchange your foreign currency at the US Bank provided you currently have savings, checking, or a money market account. Moreover, there is no additional fee for the currency exchange service over $250.

However, to exchange a foreign currency at any US Bank branch, you need id proof along with your bank account proof (maybe a debit/credit card). These documents will let you exchange your currency at any branch.

Regarding the limits, you can exchange any amount ranging from $20 and above. However, you need to pay an additional $10 fee while converting currencies worth $20-$250.