If you are returning to the United States from a foreign country, chances are you have some leftover cash in a foreign currency. You will likely want to exchange this money into US dollars quickly, conveniently, and with the best possible exchange rate.
Some stores will exchange foreign currency. Walmart, being one of the most ubiquitous retailers in the country, may be a place to look for exchange services. Keep reading to see if Walmart offers foreign currency exchange in 2023.
Here are a few financial institutions and their foreign currency exchange info:
|Institution||Foreign Currency Exchange|
|Chase||Fees & Policies|
|Bank of America||Fees & Policies|
|Wells Fargo||Fees & Policies|
|US Bank||Fees & Policies|
|PNC||Fees & Policies|
|Truist Bank||Fees & Policies|
|Capital One||Fees & Policies|
|Walmart||Fees & Policies|
Does Walmart Exchange Foreign Currency?
Unfortunately, Walmart does not offer currency exchange. However, Walmart does offer other financial services such as making payments domestically and internationally. Additionally, many Walmart locations have banks onsite that can exchange foreign currency.
One reason Walmart likely does not exchange foreign currency is due to the relative volatility in exchange rates. Because foreign currencies can experience shocks due to political, economic, and social events the exchange rate between two currencies can change quickly.
Unlike major financial institutions such as banks and credit unions that closely track exchange rates, Walmart likely does not have the infrastructure to track exchange rates and train employees to complete this transaction.
Since Walmart does not offer an exchange service you may be wondering if you can use your foreign currency for a purchase at Walmart?
Can You Exchange Foreign Currency at Walmart’s Coin Machine?
Most Walmart locations are equipped with a Coinstar machine which can be used to exchange a large amount of change into paper cash. According to the Coinstar website, the kiosk will not accept foreign coins.
Coinstar offers a simple and easy way to receive cash for your unsorted change, but unfortunately cannot be used to exchange your foreign coinage at this time. In the next section, find out more on why Walmart cannot accept foreign currency.
Will Walmart Accept Foreign Currency for Purchases?
Most Walmart locations will not accept foreign currency to complete a transaction. There may be some exceptions in Walmart that are close to the Canadian and Mexican borders where Canadian dollars and Mexican pesos are more common.
In addition, you can use most foreign credit or debit cards to complete a transaction at Walmart.
While some shoppers have reported successfully completing transactions with Canadian dollars, it is not an official policy of Walmart, and the store is not obligated to accept foreign currency.
Thus, it is best to come prepared with US dollars to complete your transaction.
Moreover, some credit cards will cancel a transaction if you have not alerted the financial institution of your travel. Be sure you are prepared before making your purchase.
To make sure you are prepared, review the next section to learn where you can exchange your foreign currency successfully.
Where Can I Convert Foreign Currency to US Dollars?
The best place to exchange foreign currency for US dollars is a bank, credit union, or other major financial institution. For the best possible rates and lowest fees, you will want to exchange at large banks such as Bank of America, Wells Fargo, and TD Bank.
Most airports also have a currency exchange in the international terminal, but often have relatively unfavorable exchange rates.
Will Walmart Exchange Foreign Currency?
Walmart does not currently offer any foreign currency exchange. Walmart does offer other financial services like transferring money domestically or internationally. However, to convert your foreign currency to foreign dollars, you will be best served by exchanging at your preferred bank or at an airport exchange.
Benjamin is a certified financial advisor, with over 10 years of experience in the industry. He is knowledgeable about various business and financial topics, such as retirement planning and investment management. Ben has been recognized for his work in the financial planning industry. He has also been featured in various publications.