Exchanging and Ordering Foreign Currency at Bank of America: A Comprehensive Guide
How To Exchange Currency At Bank Of America: Planning a trip abroad? Bank of America offers options for exchanging your US dollars for foreign currency, ensuring you have cash readily available upon arrival. This guide details everything you need to know about exchanging currency at Bank of America.
Who can exchange currency?
- Exchange: Any Bank of America customer can exchange foreign currency (excluding coins) for US dollars at a full-service financial center.
- Order: Customers with a Bank of America checking or savings account can order foreign currency online or through the mobile app. Customers with only credit cards can order currency at a financial center.
How to exchange currency
- Locate a financial center: Use Bank of America’s branch locator to find a nearby branch offering foreign currency exchange https://locators.bankofamerica.com/.
- Visit the branch: Bring a valid government-issued ID and the foreign currency you wish to exchange.
- Complete the transaction: A banker will assist you with the exchange, explaining the exchange rate and fees involved.
How to order currency
- Online or mobile app: Log in to your online banking or mobile app and navigate to the “Foreign Currency” section.
- Select your desired currency: Choose the currency you need and enter the amount you want to order.
- Delivery options: Select delivery to your home address (for orders under $1,000) or choose to pick up at a financial center (for orders over $1,000).
- Review and confirm: Review the exchange rate, fees, and estimated delivery date before confirming your order.
Things to remember
- Order processing: Orders placed before 2 p.m. local time typically ship the same day (Monday-Friday). Orders placed after 2 p.m. ship the next business day.
- Exchange rates: Currency exchange rates fluctuate. Use Bank of America’s currency converter to check current rates https://www.bankofamerica.com/foreign-exchange/exchange-rates/.
- Fees: Bank of America charges a foreign currency exchange fee, which varies depending on the currency and transaction type.
- Coins: Bank of America does not exchange foreign coins.
- Availability: Denominations of foreign currency may be subject to availability.
Additional tips
- Plan: Order your currency well in advance of your trip, especially for less common currencies.
- Consider alternatives: Depending on your destination, using your debit or credit card abroad might be a convenient alternative. Be sure to check with your bank about any associated fees.
- Notify your bank: Inform your bank about your travel plans to avoid potential issues with card usage abroad.
FAQs about Exchanging Currency at Bank of America:
1: Can I exchange foreign coins at Bank of America?
A: No, Bank of America does not exchange foreign coins.
2: What are the fees associated with exchanging currency?
A: Fees vary depending on the currency and transaction type. You can find details about specific fees on the Bank of America website [invalid URL removed].
3: How long does it take to receive my currency order?
A: Orders placed before 2 p.m. local time typically ship the same day and arrive within 1-2 business days. Orders placed after 2 p.m. ship the next business day and arrive within 2-3 business days.
4: Can I cancel my currency order?
A: Yes, you can cancel your order before it ships by contacting Bank of America customer service.
5: What if the currency I need is not listed?
A: Bank of America offers a limited selection of currencies. If your desired currency is unavailable, you may want to consider alternative options like using your debit or credit card abroad or exploring services from other currency exchange providers.
Conclusion
Exchanging currency at Bank of America is a convenient option for travelers seeking to have local cash readily available upon arrival. Whether you choose to exchange at a branch or order online, understanding the process, fees, and delivery options beforehand ensures a smooth and efficient experience. Remember to plan, explore alternative options, and inform your bank about your travel plans for a stress-free international trip.
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