Yes, Wells Fargo exchanges foreign currency, but the service depends on your account type and location

Wells Fargo offers foreign currency exchange through its branches and online banking, though not all locations handle every currency. You can exchange U.S. dollars for major currencies like euros, British pounds, Canadian dollars, Japanese yen, and Mexican pesos at most full-service branches. The bank also lets you order less common currencies, though this usually takes several business days and may carry higher fees.

The exchange rate Wells Fargo offers is not the same as the mid-market rate you see online. The bank adds a markup to cover its costs and profit — this markup varies by currency and changes daily. You will pay more to buy foreign currency from Wells Fargo than you would through a currency specialist, but you get the convenience of a familiar institution and when ready access at many locations.

Key Takeaways

  • Wells Fargo exchanges major currencies at most full-service branches and through online banking, but the exchange rate includes a markup above the mid-market rate.
  • You can order less common currencies, but the order typically takes three to five business days and may cost more.
  • Wells Fargo charges a flat fee for some currency orders and a percentage markup on the exchange rate itself, so the total cost is higher than the rate alone.
  • If you are traveling or sending money abroad, comparing Wells Fargo's rate to a currency specialist or your credit card's foreign transaction terms may save you money.

How to exchange currency at a Wells Fargo branch

Walk into any full-service Wells Fargo branch with your ID and the U.S. dollars you want to exchange. Tell the teller which currency you need and how much. The teller will quote you the current rate, which includes Wells Fargo's markup. If you accept, the teller will count out the foreign currency and complete the transaction on the spot.

For major currencies — euros, pounds, yen, Canadian dollars, Australian dollars, Swiss francs, and Mexican pesos — most branches keep cash on hand. For other currencies, the branch will order them for you, and you will pick up the cash in three to five business days. Some branches may charge an order fee for less common currencies, typically $10 to $25.

Exchange rates and fees Wells Fargo charges

Wells Fargo does not publish a single exchange rate for all customers. The rate you receive depends on the currency, the amount, the day, and sometimes your account type. The bank's markup on the mid-market rate typically ranges from 1% to 3% for major currencies, though it can be higher for less common ones.

In addition to the markup built into the rate, Wells Fargo may charge a flat fee for ordering currency — usually $10 to $25 depending on the currency and your location. Some accounts, such as certain wealth management or premium checking accounts, may have lower fees or better rates, so ask your banker if you hold one of these accounts.

Ordering currency online or by phone

You can order foreign currency through Wells Fargo's online banking platform or by calling your branch directly. Online ordering is available 24/7, but the order still takes three to five business days to arrive at your branch. You will need to specify the currency, the amount, and which branch you want to pick it up from.

When you order online, Wells Fargo will lock in the rate at the time you place the order, not when you pick it up. This protects you from rate swings while you wait. You will pay any applicable fees when you pick up the currency in person.

What happens if you need currency before your trip

If you are leaving in a few days and need a major currency, a branch can usually provide it same-day or next-day. Call ahead to confirm the branch has the currency in stock and to reserve the amount you need. If the branch does not have it, they can order it with expedited delivery, though this may cost more than standard ordering.

If you are in a time crunch, consider using your Wells Fargo debit or credit card abroad instead. Many cards charge a foreign transaction fee (typically 1% to 3%), but you avoid the markup on the exchange rate itself and do not have to carry large amounts of cash. Check your card's terms before you travel to know what fee applies.

Exchanging foreign currency back to dollars

Wells Fargo will also exchange foreign currency back to U.S. dollars at a branch. Bring the bills to any full-service branch with your ID. The teller will count the cash, quote you the rate (which again includes a markup), and deposit the dollars into your account or give you cash.

The rate for selling currency back to Wells Fargo is usually less favorable than the rate for buying it — the bank's markup works against you in both directions. If you have leftover currency from a trip, you may get a better rate by exchanging it at a currency specialist or waiting until your next trip to use it.

Comparing Wells Fargo to other options

Wells Fargo's convenience comes at a cost. Specialty currency providers like OFX, Wise, or XE offer mid-market rates with smaller markups, sometimes as low as 0.5% to 1%. These services work best if you are sending money abroad or exchanging large amounts, because the savings add up. However, they require a few business days for delivery and work online only.

Credit cards often offer competitive exchange rates with a foreign transaction fee of 1% to 3%, which can be cheaper than Wells Fargo's markup for everyday purchases abroad. Debit cards typically charge the same foreign transaction fee. If you are traveling and plan to use a card anyway, this may be your cheapest option for small amounts.

Frequently Asked Questions

Can I exchange currency at any Wells Fargo branch?

Most full-service Wells Fargo branches exchange major currencies. Some smaller branches or locations inside grocery stores may not. Call your nearest branch before you go, or ask a teller at any branch which location near you handles currency exchange.

How long does it take to order a currency I do not see listed?

Standard orders take three to five business days. Expedited orders may be available for an extra fee, but availability depends on the currency and your location. Call your branch to ask about expedited options and the cost.

What if I have coins or damaged bills in foreign currency?

Wells Fargo typically exchanges bills only, not coins. Damaged or torn bills may be rejected. If you have coins or damaged currency, a currency specialist may accept them, but Wells Fargo branches usually will not.

Do I need to be a Wells Fargo customer to exchange currency?

Most branches require you to have a Wells Fargo account. Non-customers may be turned away or charged a higher fee. Call your branch to confirm their policy before you visit.

Is the exchange rate locked in when I order online?

Yes. When you place an order through online banking, the rate is locked at that moment. You will pay that rate when you pick up the currency, even if the market rate changes while you wait.