TD Bank does exchange currency, but only at certain locations and with some limits on the amounts and types of currency they handle

TD Bank offers currency exchange at many of its branches, though not every location provides this service. The bank exchanges major currencies like Canadian dollars, euros, British pounds, Japanese yen, and Mexican pesos. You do not need to be a TD Bank customer to use this service — anyone can walk into a participating branch and request an exchange.

The exchange rate TD Bank offers is set daily and is not the same as the mid-market rate you see online. Banks build in a margin when they exchange currency, which means you will receive slightly less than the wholesale rate. The exact margin varies by currency and changes based on market conditions.

TD Bank does not exchange all currencies. If you need a currency that is not commonly traded — such as currencies from smaller countries or historical coins — you will likely need to use a currency exchange specialist instead of a bank branch.

Key Takeaways

  • TD Bank exchanges major world currencies at most branches, but you should call ahead to confirm your specific location offers the service.
  • The exchange rate includes a margin that favors the bank, so you will not receive the mid-market rate you see quoted online.
  • You do not need a TD Bank account to exchange currency at a branch.
  • Large exchanges may require advance notice so the branch can have enough cash on hand.
  • TD Bank does not exchange all currencies — only the most commonly traded ones.

Which currencies TD Bank will exchange

TD Bank regularly exchanges Canadian dollars, euros, British pounds, Japanese yen, Swiss francs, Australian dollars, New Zealand dollars, and Mexican pesos. These are the currencies the bank keeps in stock at most branches. If you need a different currency, ask the branch — they may be able to order it, though this usually takes several business days.

The availability of specific currencies can vary by branch location. A branch in a border town may stock more Canadian dollars, while a branch in a major city might have a wider selection. Calling your local branch before you go is the fastest way to find out whether they have the currency you need in stock.

How to exchange currency at TD Bank

Walk into any TD Bank branch during business hours and ask a teller for a currency exchange. Bring your cash in the currency you want to exchange, plus a valid photo ID. The teller will tell you the current exchange rate, show you how much you will receive in US dollars (or vice versa), and complete the transaction on the spot if the currency is in stock.

If you are exchanging a large amount — typically $10,000 or more — call the branch a day or two ahead to make sure they have enough cash available. Some branches may also ask you to fill out a form for large exchanges for record-keeping purposes.

The entire process usually takes 10 to 15 minutes. You will receive your exchanged currency in cash at the teller window.

What the exchange rate includes

The rate TD Bank quotes you is not the mid-market rate. The mid-market rate is the wholesale price banks pay each other for currency, and it changes constantly throughout the day. TD Bank's retail rate includes a markup — usually between 2 and 5 percent depending on the currency — that covers the bank's cost of holding inventory and managing the transaction.

This markup is standard across the banking industry. All banks, credit unions, and currency exchange shops add a margin to the mid-market rate. The size of the margin can vary, so if you are exchanging a very large amount, it may be worth calling a few places to compare rates.

Alternatives if your branch does not offer currency exchange

Not every TD Bank branch exchanges currency. If yours does not, you have several options. You can visit a different TD Bank branch that does offer the service, use a dedicated currency exchange shop (which often have better rates for large amounts), or order currency through your bank for pickup later.

Some credit unions also offer currency exchange to members. If you belong to a credit union, calling them first may save you a trip. Online currency exchange services exist as well, though these typically require you to order in advance and pick up at a physical location or arrange delivery.

Exchanging currency before you travel

If you are planning a trip and need foreign currency, ordering from TD Bank a few days ahead is often easier than trying to find it in stock on short notice. Call your branch, tell them how much of which currency you need, and they will have it ready for you to pick up. This also gives you time to compare the rate with other options.

Some travelers prefer to use ATMs in the country they are visiting instead of exchanging cash beforehand. ATM withdrawals often come with a better exchange rate than what a bank branch offers, though you will pay an ATM fee. Which method costs less depends on how much you are withdrawing and the specific fees involved.

Frequently Asked Questions

Can I exchange currency at a TD Bank ATM?

No. TD Bank ATMs dispense US dollars only. You must visit a branch and speak with a teller to exchange currency.

Do I need a TD Bank account to exchange currency?

No. Anyone can walk into a TD Bank branch and request a currency exchange, whether or not they have an account there. You will need a valid photo ID.

What if I need a currency TD Bank does not stock?

Call your branch and ask if they can order it. Many branches can order less common currencies, though it usually takes three to five business days and may require a minimum order amount. Some branches may decline to order very rare currencies.

Is the exchange rate better online or at the branch?

The rate is the same whether you order online for branch pickup or exchange in person at the teller window. Both include the same markup over the mid-market rate. Ordering online ahead of time is mainly for convenience if the currency is not in stock.

What happens if I exchange currency and then change my mind?

Most TD Bank branches will exchange the currency back, but they will explore the current exchange rate at that time — not the rate from your original transaction. This means you may receive less than you started with, since the rate will have moved. Ask the branch about their policy before you complete the first exchange.