Yes, Wells Fargo exchanges foreign currency, but only at certain locations and with advance notice

Wells Fargo does offer foreign currency exchange at many of its branches, but the service is not available everywhere and usually requires you to order the currency ahead of time. You cannot walk into most branches and exchange currency on the spot. Instead, you place an order through your local branch or online, and the bank sources the currency and holds it for you to pick up, usually within a few business days.

The exchange rate you receive is set by Wells Fargo and includes a markup over the wholesale rate. This means you will pay more per unit of foreign currency than the mid-market rate you see quoted online. The exact markup varies depending on the currency and market conditions, so it is worth asking your branch what rate they are offering before you commit to an order.

Key Takeaways

  • Wells Fargo exchanges foreign currency at most branches, but you must order it in advance rather than exchanging it on the spot.
  • You can place an order through your local branch, by phone, or through Wells Fargo's website, depending on your account type and the currency you need.
  • The bank charges a markup on the exchange rate, so the rate you receive will be higher than the mid-market rate published online.
  • Delivery typically takes three to five business days, though some branches may offer faster service for certain currencies.
  • You may need to show identification and proof of the purpose of the exchange when you pick up your currency.

How to order foreign currency through Wells Fargo

To order foreign currency, contact your local Wells Fargo branch directly by phone or visit in person. Tell them which currency you need, how much, and when you plan to travel or need it. The branch will quote you an exchange rate, confirm the amount in U.S. dollars you will be charged, and place the order. You will typically pay for the currency at the time of order, either from your account or by debit or credit card.

Some Wells Fargo customers can also order foreign currency through the Wells Fargo website or mobile app if they have a may have access to account. Log into your account, look for the foreign exchange or travel services section, and follow the prompts to request a quote and place an order. Not all account types have this option, so if you do not see it, call your branch instead.

Once your order is placed, the branch will notify you when the currency is ready for pickup. This usually takes three to five business days. You will need to pick it up in person at the branch where you placed the order, and you may be asked to show your ID and the order confirmation.

What currencies Wells Fargo stocks

Wells Fargo keeps a selection of major currencies in stock at most branches, including Canadian dollars, euros, British pounds, Japanese yen, Mexican pesos, and Australian dollars. If you need a less common currency, the branch may still be able to order it, but it could take longer and may carry a higher markup.

Before you place an order, ask your branch which currencies they have available and which ones require a special order. This will help you understand how long the process will take and what rate you can expect. If you are traveling to a country with a less common currency, it is worth calling ahead to confirm the branch can source it.

Exchange rates and fees

Wells Fargo does not charge a separate fee for foreign currency exchange, but the exchange rate itself includes a markup. This markup is how the bank makes money on the transaction. The markup varies by currency and market conditions, but it is typically in the range of 2 to 3 percent above the mid-market rate, though this can be higher for less common currencies.

To understand what you are paying, ask the branch for the specific rate they are quoting and compare it to the mid-market rate you can find on sites like XE.com or OANDA. The difference between the two is the markup you are paying. For large amounts of currency, it may be worth shopping around at other banks or currency exchange services to see if you can get a better rate.

Alternatives to Wells Fargo foreign exchange

If Wells Fargo's rates or service do not work for you, there are other options. Some credit unions offer foreign currency exchange to their members, sometimes at better rates than banks. Standalone currency exchange services like Travelex or local exchange shops may also be available in your area, though their rates and fees vary widely.

Another option is to use a travel-focused debit or credit card that does not charge foreign transaction fees and offers a competitive exchange rate. These cards are designed for travelers and can save you money if you plan to use the card abroad rather than carrying cash. However, they do not help if you specifically need physical foreign currency before you travel.

What to bring when you pick up your currency

When you go to pick up your foreign currency order, bring your photo ID and the order confirmation or reference number the branch gave you. Some branches may also ask why you need the currency, though this is usually just for their records. If someone else is picking up the order on your behalf, bring a signed authorization letter and both people should bring ID.

Pick up your currency during normal branch hours. If you are picking up a large amount, call ahead to make sure the branch has it ready and to confirm they can accommodate you. Once you have the currency, count it before you leave the branch to make sure the amount is correct.

Frequently Asked Questions

Can I exchange currency at any Wells Fargo branch?

Most Wells Fargo branches offer foreign currency exchange, but not all. Some smaller branches or those in rural areas may not stock currency or may require you to order through a larger branch. Call your local branch first to confirm they offer the service before making a trip.

How long does it take to get foreign currency?

Most orders take three to five business days. Some branches may have certain currencies in stock and can provide them faster, while less common currencies may take longer. Ask your branch for an estimated delivery date when you place your order.

What if I need currency the same day?

Same-day service is not typically available for foreign currency orders at Wells Fargo. If you need currency urgently, check whether your branch has the currency in stock, or look for a standalone currency exchange service in your area that may offer faster service.

Do I pay the exchange rate when I order or when I pick up?

You pay the rate that is quoted to you at the time you place the order. The rate is locked in then, so you will not be charged a different rate when you pick up the currency, even if market rates change in the meantime.

Can I return unused foreign currency to Wells Fargo?

Wells Fargo's return policy for foreign currency varies by branch. Some branches will buy back unused currency at their current rate, which will be lower than the rate you paid. Call your branch to ask about their specific policy before you exchange a large amount.