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What is a foreign currency exchange?

Foreign currency exchanges are processed for consumer and business (branch only) customers with a U.S. Bank checking, savings or money market account. Deposit products offered by U.S. Bank National Association. Member FDIC.

Can you exchange currency through a bank?

You may also be able to exchange currency through a bank in your destination country at a competitive rate. However, the exchange rate and fees can vary by the institution and the country you’re visiting. If you want to go this route, research the banks in the area before you go.

How do I get the best currency exchange rates?

You will likely get the best currency exchange rates from a U.S.-based bank or by withdrawing money from a foreign ATM with a Visa or Mastercard debit card that doesn’t have foreign transaction or ATM fees. Both the Capital One 360 Checking Account and the HSBC Premier Checking Account offer debit cards without foreign transaction fees.

Where can I exchange currency online?

While these institutions may advertise low or no fees, they often profit from the exchange rates. When it comes time to exchange currency, you have several options—both at home and abroad. You can go to: Online money transfer services like Xoom and Western Union (use abroad) Which option is the best?

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