Getting foreign cash for a trip used to mean a frantic stop at the airport kiosk. Today, banks like Chase let you order currency in advance and pick it up at a branch. The service is convenient, but the convenience comes with a price.
Most people who order currency through Chase do not realize how much they are paying. The bank does not call it a fee. Instead, the cost is built into the exchange rate.
Let's break down how Chase Bank currency exchange works, what it really costs, and the alternatives that can save you real money. For a focused look at how Chase prices currencies, see our breakdown of the Chase conversion rate.
How Chase Bank Currency Exchange Works
Chase offers foreign currency exchange to customers with a Chase checking, savings, or credit card account. You can order more than 50 different currencies online, by phone, or in person at a branch.
After you place an order, Chase sources the currency from its central bank inventory. Major currencies like euros, British pounds, Canadian dollars, and Japanese yen are usually ready in one business day. Less common currencies can take three to seven business days.
You can pick up your cash at any Chase branch or have it delivered to your home for a small shipping fee. There is typically no minimum order, though some smaller currencies have minimums.
Chase will also buy back leftover foreign currency after your trip, but only paper bills. Coins are generally not accepted because their value is too small relative to handling cost.
The Real Cost of Chase Currency Exchange
Chase does not charge a fixed transaction fee when you order in advance. The cost is in the exchange rate itself.
When you look up an exchange rate on Google, you see the mid-market rate. That is the rate banks use to trade with each other. Consumers like you and me never get that rate.
Chase adds a spread to that rate, usually 3% to 5% on major currencies and higher on less common ones. So if the mid-market rate for euros is 1.10, Chase might sell euros at 1.14 or 1.15.
That may not sound like much, but it adds up fast. On a $2,000 currency exchange with a 4% spread, you pay $80 above what you would pay at the mid-market rate.
If you return leftover currency to Chase after the trip, the bank buys it back at an even worse rate. The combined buy-sell spread can cost 6% to 10% of the original amount if you exchange both ways.
Chase Currency Exchange Rates by Currency
Not all currencies cost the same to exchange. Major currencies have the tightest spreads because they are more liquid and Chase can hedge them easily.
Euros, British pounds, and Canadian dollars usually have spreads of 3% to 4%. Japanese yen, Australian dollars, and Swiss francs are similar.
Less common currencies like Mexican pesos, South African rand, or Brazilian real can carry spreads of 5% to 7%. Exotic currencies that Chase has to special-order may be even higher.
The spread also depends on order size. Larger orders sometimes get slightly better rates, though the difference is usually small for retail customers.
Rates change throughout the day based on global currency markets. Chase locks the rate at the moment you confirm the order.
When Chase Currency Exchange Makes Sense
Despite the markup, Chase currency exchange has legitimate use cases.
It is convenient. You can order online from home, pick up at the branch, and avoid the airport kiosk. Airport currency exchanges are almost always worse than Chase, often charging 7% to 12% above market plus flat fees.
It is reliable. The currency is guaranteed to be authentic and counted accurately. That sounds basic, but counterfeit foreign cash is a real risk at small currency shops.
It is fast. Pickup is often next-day for major currencies. If you are leaving for Europe in a week, ordering euros from Chase is one of the simplest options.
It is also good if you want cash in hand before landing somewhere with poor ATM infrastructure. Some destinations make it difficult to find working ATMs or trustworthy exchanges once you arrive.
Cheaper Alternatives to Chase Currency Exchange
If you want to keep more of your money, several alternatives consistently beat Chase on cost.
No-foreign-fee credit cards are the cheapest way to spend abroad. Cards like the Chase Sapphire Preferred, Capital One Venture, and Citi Premier charge zero foreign transaction fees. You pay the Visa or Mastercard network exchange rate, which is usually within 1% of the mid-market rate.
If your credit score is not yet strong enough for those cards, products like the Self Visa Credit Card can help you build a credit history. With 6 to 12 months of on-time payments, your score can climb high enough to qualify for premium travel cards.
The OpenSky Secured Credit Card and Kikoff Secured Credit Card are also good credit-builder options. Firstcard is another credit-building option that works for everyday domestic and international spending.
Wise and Revolut let you hold and exchange currencies at near-market rates. Wise charges a transparent fee, usually 0.4% to 0.7%, with no hidden spread. Revolut offers free exchanges up to a monthly limit.
Fee-free debit cards from Charles Schwab and Fidelity reimburse ATM fees worldwide and charge no foreign transaction fees on debit purchases. Frequent travelers swear by them.
Local ATMs at your destination often give the best rate for cash, as long as your debit card does not charge foreign fees. The ATM uses the network rate, which beats most bank exchanges.
Tips to Save on International Spending
The best strategy depends on how much cash you need and how you plan to spend.
Minimize cash. Most countries accept Visa and Mastercard widely. Use a no-foreign-fee credit card for restaurants, hotels, and shopping. Carry only enough cash for taxis, tips, and small vendors.
Get cash from ATMs at your destination instead of exchanging beforehand. ATM rates are usually closer to the mid-market rate, especially if your debit card has no foreign fees.
When a foreign card terminal asks if you want to pay in dollars or local currency, always pick local currency. The dollar option uses something called dynamic currency conversion, which adds a markup of 3% to 7%.
If you must order cash before traveling, compare Chase's rate against Wise and Revolut for the same amount. Sometimes the bank wins on smaller orders because of shipping minimums, but for larger amounts, fintech apps almost always beat banks.
Do not over-order. Leftover currency loses money on the return trip if you sell it back to Chase. Bring it home as a souvenir or save it for your next trip.
Building Credit to Unlock Better Travel Cards
The biggest long-term savings come from qualifying for premium travel cards. Those cards typically need a FICO score of 670 or higher.
If you are starting fresh or rebuilding, credit-builder products are the first step. The Self Visa Credit Card, OpenSky Secured Credit Card, and Current Build Card all report to the three major bureaus and help you build a payment history. Maintaining a low credit utilization ratio is one of the fastest score boosts available.
With consistent on-time payments and low utilization, scores typically improve within 6 to 12 months. Once you cross into the 700-plus range, the Chase Sapphire Preferred, Capital One Venture, and other no-foreign-fee cards become realistic options.
That shift transforms international travel costs. A trip that used to cost an extra $80 in currency exchange spread becomes nearly free in terms of foreign fees.
What to Watch For at the Branch
If you do exchange currency at a Chase branch, a few things help.
Ask about the all-in rate, including any shipping or processing fees. Compare it to the mid-market rate on Google to see the actual spread you are paying.
Verify the amount and bills before leaving the branch. Make sure you receive the denominations you want. Some countries make it hard to use large bills, so smaller denominations are often more practical.
Get a receipt and keep it with your travel documents. If there is ever a discrepancy with your order, the receipt is your record.
Do not exchange large amounts on impulse. If you are unsure, ask Chase for the rate and shop it against an online service before committing.
Frequently Asked Questions
Does Chase charge fees for currency exchange?
Chase does not charge a flat fee on orders placed in advance, but the bank builds a markup of 3% to 5% into the exchange rate. Home delivery may have a small shipping fee unless the order exceeds a minimum amount. Selling currency back after a trip costs another 3% to 5%.
How long does it take to get foreign currency from Chase?
Major currencies like euros, British pounds, Canadian dollars, and Japanese yen are usually available for pickup the next business day. Less common currencies can take three to seven business days. Plan your order at least one week before traveling.
Can I exchange leftover currency at Chase after my trip?
Yes, Chase buys back most foreign paper bills, but at a lower rate than they sold you. The buy-sell spread is typically 3% to 5%. Coins are generally not accepted. To avoid losing money on returns, try not to over-order before your trip.
What is the cheapest way to exchange currency for travel?
A no-foreign-fee credit card like the Chase Sapphire Preferred or Capital One Venture is usually cheapest for purchases abroad. For cash, services like Wise or Revolut offer near-market rates with low transparent fees. ATM withdrawals with a fee-free debit card from Charles Schwab or Fidelity also beat bank currency exchanges.
Terms and conditions apply. APRs and fees vary by creditworthiness.
