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Foreign Currency

Foreign Exchange Rate FAQs

  • Hide How does Bank of America determine foreign exchange rates and why might I see different rates online or in the newspaper?

    The consumer exchange rate that Bank of America N.A. (Bank of America) offers you is determined by Bank of America and is based upon such factors as we determine relevant, including without limitation, exchange rates charged by other parties, desired rates of return, market risk, credit risk and other market and economic factors. When you order foreign currency online or at one of our banking centers, the exchange rate we offer is, in effect, a rate quotation. You may accept or decline our rate quotation. If you accept our rate quotation and we have not canceled your order, you have entered into a final and binding transaction at the rate you accepted. Exchange rates shown in the newspaper and on some currency conversion sites are generally interbank rates available only to banks for transactions of $1 million U.S. dollars or more. These rates aren’t generally available to consumers obtaining foreign currency for international travel. Exchange rates offered by other dealers or shown at other sources (including online sources) may be different from Bank of America's rates.Footnote1

  • Show How often are Bank of America's foreign exchange rates updated?

    Foreign exchange rates are constantly changing. We update our rates at least once every business day, based on current market conditions. Exchange rates are subject to change at any time without notice.

  • Show Why do your calculators show different exchange rates for purchasing foreign currency and for exchanging foreign currency for U.S. dollars?

    While Bank of America does receive compensation from the purchase and sale of foreign currency banknotes in the form of a spread between the purchase and selling prices of the foreign currency (based on Bank of America’s cost to acquire the currency), there are a number of factors that contribute to the cost of providing foreign currency services. These include processing costs, costs associated with maintaining foreign currency inventories, insurance costs and the costs of shipping foreign currency to us from other countries. The cost factors that apply to purchases are different than the cost factors that apply to exchanges. The difference you see in exchange rates is a reflection of the differences in cost between these two types of transactions.

  • Show What happens if exchange rates change after I place my order?

    Once your transaction has been confirmed, the exchange rate you received for your order will not change.Footnote 2

  • Show I've heard that my ATM card might not work at my foreign destination. What should I do before I travel to make sure it works?

    To use foreign ATMs, you should make sure that your PIN is 4 digits and does not start with a zero. A PIN with more than 4 digits might not be accepted by a foreign ATM. Your PIN should be remembered by numbers, not letters, because many foreign ATMs do not have letters on the keypad.

    Before your trip, be sure to contact Bank of America and provide your dates of travel to ensure uninterrupted use of your ATM card. Contact ATM Debit Card Customer Protection at 1.877.833.5617 or set your travel notice online, 24/7 up to 30 days prior to travel.

    To set a travel notice online, sign in to Online Banking and go to the Help & Support page, select the Checking & Savings Accounts topic and then select the Use your card while traveling link and enter your trip details.

    If you encounter any issues while traveling, please contact us toll-free at 1.877.833.5617. If you’re currently outside of the United States, you can contact us toll-free at 1.602.597.2395. (We’re available 24/7 at both numbers.)

  • Show Who sets the exchange rates for foreign ATM withdrawals with my Bank of America ATM card and for international purchases with my Bank of America credit and debit cards?

    The exchange rate for international purchases and foreign ATM transactions is set by Visa® or MasterCard®, depending on your card's logo. This exchange rate is either the wholesale market rate or a government-mandated rate on the day before the date the transaction is processed. The processing date may differ from the date of the transaction.

    Each time you use your Bank of America ATM or debit card in a foreign ATM or use your credit card with a foreign merchant, an International Transaction Fee applies. For specific information on the International Transaction Fees, contact Bank of America Customer Service at 1.800.432.1000. (We’re available 7 a.m.-10 p.m. Mon.-Fri. and 8 a.m.-5 p.m. Sat. and Sun.; all times local.) Note that additional fees may be charged. See your applicable deposit or credit card agreement for details.

Delivery information

You must pick up at a banking center if:

  • Your order is $1,000 or more in U.S. dollars
  • You are a new customer (less than 30 days)
  • Your address changed in the last 30 days

Shipping details

  • Orders made before 2 p.m. (delivery address local time) Mon.-Fri. will ship the same business day; otherwise will ship the next business day
  • We do not ship orders on Sat., Sun. or holidays