You’re finally doing it. The flights are booked, the "out of office" reply is drafted, and you’re staring at a half-packed suitcase. Then it hits you: do I need cash? Specifically, do I need cash now? If you bank with Chase, you’re probably wondering if you can just walk into your local branch and walk out with a stack of Euros or Pesos.
The short answer is yes. Chase does exchange foreign currency. But wait. It isn’t always as simple as a quick trip to the teller, and honestly, it might not even be your best move.
Does Chase Exchange Foreign Currency for Everyone?
First things first: you have to be a customer. If you don't have a checking, savings, or credit card account with Chase, they generally won't swap your dollars for foreign cash. It’s one of those "members only" perks.
Most people think they can just stroll into any bank and get money. Nope. Banks have tightened up these rules over the last few years. If you’re not a Chase account holder, you'll likely be turned away and pointed toward a dedicated currency exchange kiosk—which usually has terrible rates.
The Branch Reality
Don't expect every branch to have a vault full of Swiss Francs. Most branches keep very little, if any, foreign cash on hand.
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If you need a common currency like Euros or British Pounds, a massive flagship branch in a city like New York or Chicago might have some. But for the most part? You have to order it.
How the Ordering Process Works
You’ve got two main ways to get this done.
- In-person at a branch: You talk to a teller, tell them what you need, and they place an order for you.
- The Chase Mobile App or Website: For some, this is an option, but many customers find they still have to call or visit to finalize a physical cash order.
Usually, it takes about 1 to 3 business days for the money to arrive at your branch. If you’re leaving tomorrow morning? You’re probably out of luck at the bank.
There’s often a minimum. You typically can't just order $5 worth of Japanese Yen. Most banks, Chase included, prefer orders that meet a certain threshold, often around $100 USD.
The Cost: Exchange Rates vs. Fees
Here is where things get "kinda" pricey. Chase doesn't usually charge a flat, upfront "service fee" for the exchange itself if you're a customer. Sounds great, right?
Well, it's not exactly "free."
Banks make their money on the exchange rate margin (often called the "spread").
If the market rate (the one you see on Google) says 1 USD equals 0.92 Euros, Chase might sell it to you at a rate where 1 USD only gets you 0.85 Euros. That difference is how they get paid. Depending on the currency, this markup can range anywhere from 3% to 7%.
Real-World Example
Imagine you're buying $1,000 worth of Mexican Pesos.
- Mid-market rate: You should get 17,000 Pesos.
- Bank rate: You might only get 16,100 Pesos.
You just paid $50-something for the convenience of having cash in your pocket before you landed. Is that worth it? Maybe for peace of mind, but definitely not for your wallet.
Better Ways to Use Chase Abroad
Honestly, carrying a bunch of cash is a bit old-school. It’s risky. If you lose that envelope of cash, it’s gone forever.
Use the Right Credit Card
If you have a Chase Sapphire Preferred® or Chase Sapphire Reserve®, you have a superpower: No Foreign Transaction Fees.
When you swipe these cards in Paris or Tokyo, Chase converts the currency at the network rate (usually very close to the "real" rate) and doesn't add a surcharge. If you use a basic card like the Chase Freedom Unlimited®, you’ll get hit with a 3% fee on every single purchase. That adds up fast.
The ATM Strategy
For most travelers, the smartest move is to just use a Chase debit card at an ATM once you arrive at your destination.
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- Avoid the Airport ATMs: These are usually run by private companies (like Travelex) with predatory rates.
- Find a Major Local Bank ATM: You’ll get a better rate.
- Choose Local Currency: If the ATM asks if you want to be charged in USD or the local currency, always choose local currency. This avoids "Dynamic Currency Conversion," which is basically a legal way for the ATM owner to skim an extra 5-10% off your transaction.
If you have a Chase Sapphire Banking or Private Client account, Chase even refunds those pesky non-Chase ATM fees and waives the 3% adjustment. For everyone else, expect to pay about $5 plus that 3% markup.
Sending Money instead of Carrying It
If you aren't trying to buy a souvenir but actually need to pay someone in another country, cash isn't the answer anyway.
Chase allows for Global Transfers through their app. If you send the wire in a foreign currency (not USD), they sometimes waive the wire fee for certain amounts. For example, if you send $5,000 or more in foreign currency via the app, the $5 transfer fee is often $0. But again, keep an eye on that exchange rate spread—that’s where the real cost is hidden.
Actionable Steps for Your Next Trip
Instead of stressing about whether your local branch has enough cash, follow this checklist to save money and time:
- Check your card's fine print: Look at your Chase app. If it says "3% Foreign Transaction Fee," leave that card in the hotel safe and only use it for emergencies.
- Order a small amount if you're anxious: If you absolutely must have cash for a taxi when you land, order just $100 worth from Chase a week before you leave.
- Set up Travel Notifications? Actually, you don't have to anymore. Chase's systems are smart enough now that they don't require you to tell them you're going to Italy. Just make sure your phone number is updated in their system so they can text you if they see a weird charge.
- Get a "backup" card: Never travel with just one card. If Chase's system goes down or your card gets swallowed by an ATM, you’ll want a Mastercard or Visa from another bank ready to go.
The days of needing a suitcase full of cash are mostly over. Most major cities from London to Mexico City are heavily digital. Use your Chase Sapphire card for the big stuff and hit a local bank ATM for the "street food and tips" fund. You'll save enough on fees to buy an extra dinner on your last night.