Chase Currency Exchange Guide: Fees, Rates & Alternatives
Chase does not market foreign currency exchange services for its customers – which means you may struggle to get foreign currency in cash from your local branch. While it’s well worthwhile asking in your local branch in case they can help you arrange your travel money, you may need to find an alternative plan as a backup.
The good news is that there are other options to arrange your foreign currency before your trip overseas – either by ordering online from a provider like CXI, or by getting a dedicated travel card from a service like Wise. This guide walks through a few Chase currency exchange alternatives which may suit you, depending on your specific needs.
Key points: Chase currency exchange
- Chase does not actively market any travel money service which allows customers to get foreign currency cash
- Chase travel services focus on options for booking travel and hotels – and card use, including some cards which do not incur a foreign transaction fee for overseas spending
- If you need travel cash as well as a card, alternatives like the Wise travel money card and multi-currency account can be handy as you can use the ATM to get foreign currency on arrival in your destination
- Or if you want travel cash before you leave home, you might prefer an alternative like CXI which offers walk in services in 35 branches across the US, with 80+ currencies covered
- Compare a few different options to help you plan your travel spending – this guide is shere to help
Does Chase do currency exchange?
No. Chase does not market a travel money service to allow customers to get foreign currency cash before they go on vacation. As services do change from time to time, it’s always worth checking in your local branch, in case they can help – but Chase mainly promotes its cards for travel use, as well as options to book travel and hotels through the Chase Travel service.
If you’re a business or corporate customer with Chase, you may find your options vary – review your account terms or reach out to your relationship manager for more details.
Alternatives to Chase foreign currency exchange
If you need travel money, Chase may not be able to help – so let’s look at some alternatives that offer a wide range of currencies, low fees and good exchange rates. We’ve picked out different options depending on why and how you need currency exchange.
| CXI | Wise | OFX | |
|---|---|---|---|
| Currency exchange services | Order travel cash online for delivery or collection | Exchange currencies within your digital account or when you pay with your Wise card | Exchange currencies within your digital account |
| Fees | Variable fees based on currency and delivery option | From 0.33% | Fees included in exchange rates |
| Exchange rates | Exchange rates include a markup | Mid-market rates | Exchange rates include a markup |
| How long does it take? | Next day delivery available on many currencies | Instant conversion in your digital account | Instant conversion in your digital account |
| Supported currencies | 80+ including EUR, CAD, GBP, AUD | 40+ including EUR, CAD, GBP, AUD | 7 including EUR, CAD, GBP, AUD |
The right currency exchange option for you will depend a lot on your specific situation.
- If you need cash for a vacation – particularly if you’re in a hurry – CXI may help, with fast exchange in many currencies.
- If you would rather manage your money digitally and pay with a card when you’re away – with the option of using an ATM when you need cash – Wise may suit, with low costs and mid-market exchange rates.
- OFX is a good solution if you need a business account and access to specialist currency services such as risk management.
CXI (order online for collection or delivery)
CXI has 35 branches throughout the US, including in city center locations and airports. You can buy 80+ currencies, many of which are held in stock so you can walk into a branch and get sorted right away. Or if it’s easier you can order online and either have the money delivered to your home, or head out to collect in the branch when you’re ready.
| CXI pros | CXI cons |
|---|---|
| ✅ Huge range of currencies ✅ Many major currencies held in stock ✅ Next day deliveries available ✅ Buy coins as well as notes for major currencies | ❌ Fees including delivery fees may apply ❌ Exchange rates include a markup |
Wise (multi-currency account and card for spending and withdrawals)
Open a Wise account online or in app, add USD from your bank or card, and convert instantly in your account. You can then tap and pay with a Wise card, or make cash withdrawals in foreign currencies when you’re away. Currency conversion uses the mid-market rate with low fees from 0.33% – and accounts can hold 40+ currencies. Spend and withdraw with your card in 150+ countries, with some free ATM withdrawals every month before fees begin.
| Wise pros | Wise cons |
|---|---|
| ✅ Hold and exchange 40+ currencies ✅ Mid-market exchange rates ✅ Some free ATM withdrawals every month ✅ Manage all your money with just your phone | ❌ No cash home delivery or collection ❌ Some transaction and withdrawal fees apply |
OFX (digital currency exchange for businesses and online sellers)
If you’re interested in currency exchange for your business or as an online seller, the OFX Global Currency Account may be a good bet. Accounts support 7 major currencies and you can switch between them in the app or online. OFX also offers more complex currency risk management products which can be especially helpful for businesses trading internationally.
| OFX pros | OFX cons |
|---|---|
| ✅ Business and online sellers can open accounts instantly ✅ No ongoing account fees ✅ Receive,exchange and send foreign currency payments ✅ Instant currency conversion in your account | ❌ Exchange rates include a markup ❌ No debit card or cash options |
Chase currency exchange rate
As we’ve seen, Chase doesn’t offer travel cash services in most cases – but you can still spend from your Chase account when you’re abroad, using your card.
Chase has a comprehensive range of credit and debit cards, including some which have no foreign transaction fee, and some which charge an additional percentage fee every time you spend in a foreign currency.
If you have a no foreign transaction fee card from Chase, your overseas spending is converted back to USD using the network exchange rate, to be deducted from your account or added to your bill if you’re using a credit card. The network exchange rate is usually pretty fair which means this could offer reasonable value – just watch out for other fees such as ATM withdrawal or cash advance charges, which can push up the overall costs of transacting.
If you have a card from Chase which uses a foreign transaction fee, you’ll be charged 3% every time you transact in foreign currencies. This is in addition to any other fees such as ATM withdrawal charges.
Here’s a quick look at the exchange rates offered by the Chase currency exchange alternatives we looked at earlier:
- CXI: Competitive rates which may include a small markup
- Wise: Mid-market rate with no markup
- OFX: Competitive rates which may include a small markup
How to spend in a foreign currency with Chase
You can’t buy foreign currency with Chase directly, but you can use your Chase card overseas. You do not need to notify Chase of your intention to travel, but it is well worth checking that your contact information is up to date in your account in case you run into any problems while you’re away. This will mean that if a transaction is flagged as suspicious because it’s overseas, you can resolve the issue quickly and without your card being blocked.
Once you’re abroad, you can use your Chase card to spend and make cash withdrawals just as you would at home. Be aware of a few extra potential costs, though. For some cards a 3% foreign transaction fee applies. Plus if you’re using an ATM you’ll pay 5 USD outside of the US, as well as the 3% charge if relevant to your card. Credit card fees can be even higher – particularly for ATM use.
Check your card’s terms and conditions before you start to use it abroad so there are no surprises – or consider an alternative card which has been optimized for travel, such as the Wise card. Wise lets you spend globally with the mid-market exchange rate, conversion fees from 0.33% and with no foreign transaction fee to worry about.
Learn more: Do Chase cards have foreign transaction fees?
Conclusion: Buy foreign currency at Chase
At the time of writing, Chase does not promote any travel money services – which means you’re not likely to be able to walk into a branch and pick up the foreign currency cash you need for your overseas trip.
As service offerings may have changed, it’s worth double checking if your local branch can help – but if not, there are some great alternatives out there. Check out Wise if you want a multi-currency account and card for cash withdrawals and spending – or CXI if you’d prefer to have cash in your pocket before you leave.
- Chase does not usually offer travel money services, but you can use your Chase card to spend and withdraw overseas
- Chase cards may have extra fees for international use including a 3% foreign transaction fee and a 5 USD overseas ATM charge
- If you want travel money in cash, compare the rates and fees from alternatives like CXI
- Customers who prefer to use a card to spend and withdraw when away from home may like Wise – which offers multi-currency accounts which use the mid-market exchange rate
- OFX is a good choice for business customers looking for currency services include exchange and more complex requirements such as forward exchange contracts
FAQs Chase currency exchange
Can I deposit foreign currency at Chase?
Chase does not usually offer foreign currency services for personal customers, so you’re not likely to be able to buy or deposit foreign currency in your account.
Related: Best banks to exchange currency
Can I buy foreign currency from Chase mobile app?
Chase does not actively promote any travel money services, including through their app. There are some handy Chase Travel options including ways to book hotels – but if you need cash for your trip you may want to look at alternatives like CXI or Wise.
Can I walk into Chase and get foreign currency?
You are not likely to be able to get foreign currency from Chase in a local branch. Get in touch with your closest Chase office to check the options – or pick a different service, such as a CXI for cash home delivery, or Wise for a powerful multi-currency account and card.
Related: Best online services for currency exchange
