How Long Does It Take To Get Euros From Bank Of America

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Traveling to Europe soon and need some Euros? Getting foreign currency from your bank can be a convenient option, but it's important to understand the process and timeframes involved. This comprehensive guide will walk you through everything you need to know about getting Euros from Bank of America, from initial planning to receiving your currency.

Planning Your Euro Acquisition: Don't Wait Until the Last Minute!

Before we dive into the nitty-gritty, let me ask you: Are you a planner, or do you tend to do things at the eleventh hour? When it comes to foreign currency, being a planner really pays off. Trying to get Euros at the airport or at the very last moment can lead to higher exchange rates and limited options. Let's make sure you're prepared!

Step 1: Determine Your Euro Needs and Bank of America Account Status

This initial step is all about assessment. How much foreign currency do you actually need, and how does your relationship with Bank of America influence your options?

Sub-heading: How Many Euros Do You Need?

Estimate your cash requirements: While credit and debit cards are widely accepted in Europe, it's always wise to have some cash for small purchases, tips, local markets, or in case of card issues. Think about your initial expenses upon arrival, such as taxi fares, a quick meal, or immediate souvenir purchases.
Consider your travel style: Are you planning to rely heavily on cash, or will cards be your primary payment method? This will influence the quantity of Euros you order.
Bank of America's online order limits: Bank of America generally allows you to order up to USD$10,000 in foreign currency online over a 30-day period. This limit applies whether it's a single large transaction or several smaller ones. For orders exceeding this amount, you'll likely need to visit a financial center. Also, there's a minimum order of USD$100 in foreign currency (or USD$25 of each currency if ordering multiple types).

Sub-heading: Your Bank of America Account and Eligibility

Existing Customer: To order foreign currency online or through the mobile app, you generally need a Bank of America checking or savings account.
New Customer/Recent Address Change: If you've been a Bank of America customer for fewer than 30 days or if your address has changed in the past 30 days, your order must be picked up at a financial center. This is a security measure.
Business Accounts: Foreign currency orders placed using a small business account must always be picked up at a financial center. The package will only be released to an authorized signer on the account, and identification will be required.

Step 2: Choosing Your Ordering Method and Understanding the Timeline

Bank of America offers a few convenient ways to order Euros. The method you choose will directly impact how long it takes to get your currency.

Sub-heading: Online Banking or Mobile App (Most Common)

This is typically the fastest and most convenient method for personal accounts.

Orders placed before 2 p.m. (delivery address local time) on a business day: Your currency will be shipped the same business day.
Orders placed after 2 p.m. or on Saturdays, Sundays, and holidays: Your currency will be shipped the next business day.

Once shipped, here's what to expect for delivery:

Standard Shipping: Orders generally arrive within 1-3 business days. Allow 2-3 additional business days for orders shipped to Alaska or Hawaii.
Overnight Delivery: For an additional fee, orders should arrive the next business day. (Note: Overnight shipping to Hawaii and Alaska cannot be guaranteed).

Key Takeaway: If you order online by 2 p.m. local time with overnight delivery, you could potentially have your Euros in hand the very next business day. However, for standard shipping, plan for 2-4 business days total from placing the order to receiving it.

Sub-heading: In-Person at a Financial Center

While you can't typically get Euros on demand at a branch (they don't stock large inventories), you can place an order for pickup.

Orders placed at a financial center: If you order before 2 p.m. local time on a business day, your currency will generally be available for pickup at the selected branch the next business day by 4 p.m.
Orders placed after 2 p.m.: These orders will be available in two business days.
Expedited Pickup: Some sources mention an expedited option for a fee (e.g., $15) that allows pickup the next business day by 12 p.m. local time. Confirm this with your branch directly as policies can vary.

Important Note for Branch Pickup: Foreign currency orders will be held at the financial center for 5 business days before being returned. Make sure you pick it up promptly! You'll also need identification.

Step 3: Placing Your Order – Step-by-Step Guide

Ready to get those Euros? Let's walk through the process.

Sub-heading: Ordering Online or via Mobile App

Log In: Access your Bank of America online banking account or mobile app.
Navigate to Foreign Currency: Look for sections like "Pay & Transfer," "Order Foreign Currency," or "Mobile orders" and then select "Foreign currency."
Select Euros: Choose "Euros" (EUR) as the currency you wish to order.
Enter Amount: Input the desired amount of Euros. The system will typically show you the equivalent in US dollars based on the current exchange rate.
Choose Delivery Method: Select either delivery to your address of record or pickup at a financial center.
- Home Delivery Considerations:
  - Orders up to $1,000 USD can be delivered to your address of record over a 30-day period.
  - No P.O. boxes or personal mailboxes are allowed.
  - If your address has changed in the last 30 days or you've been a customer for less than 30 days, home delivery is not an option – you must pick up at a financial center.
- Financial Center Pickup Considerations:
  - The order will only be released to the account owner or an authorized signer.
  - Identification will be required.
Review and Confirm: Carefully review the exchange rate, the total USD cost, any shipping fees (more on this below!), and the estimated delivery/pickup date.
Payment: You'll typically pay for your digital Euro order using a Bank of America checking or savings account.
Place Order: Confirm your order. You should receive a confirmation email with tracking information (if applicable) once shipped.

Sub-heading: Ordering at a Financial Center

Locate a Branch: Find a Bank of America financial center near you. It's often helpful to call ahead and confirm their foreign currency services, although most full-service branches should be able to assist.
Bring ID and Account Information: Have your valid government-issued identification and your Bank of America account information (account number, debit card) ready.
Speak with a Teller/Representative: Inform them you wish to order Euros.
Specify Amount and Denominations: Tell them the amount of Euros you need. You might be able to request specific denominations, but availability can vary.
Confirm Pickup Date: The representative will inform you of the exact date and time your Euros will be available for pickup.
Payment: You'll pay for the order from your Bank of America checking or savings account. If you're a Bank of America relationship client, you might be able to pay in cash.
Return for Pickup: On the designated date, return to the financial center with your ID to collect your Euros.

Step 4: Understanding Fees and Exchange Rates

This is where the true cost of your Euros comes into play. It's crucial to understand these aspects.

Sub-heading: Exchange Rates (The "Spread")

Bank of America, like most banks and currency exchange services, does not give you the interbank or "mid-market" rate (the rate you see on Google). Instead, they apply a "spread" – the difference between the price they pay to obtain the foreign currency and the price at which they sell it to you. This spread is how they make a profit on currency exchange.
***This is often the largest "cost"***, even if there are no explicit transaction fees. Always compare the effective exchange rate with other providers like Wise (formerly TransferWise) or local exchange bureaus to ensure you're getting a competitive deal.

Sub-heading: Shipping and Delivery Fees

Standard Shipping: There is no fee for standard shipping on all orders of USD$1,000 or more.
Standard Shipping (Under $1,000 USD): There is a USD$7.50 delivery fee for orders less than USD$1,000.
Overnight Shipping: There is a USD$20 delivery fee for all overnight shipping orders, regardless of the amount ordered.
Financial Center Pickup: Even if you pick up at a financial center, shipping fees (as listed above) may still apply, especially for orders under USD$1,000, as they don't stock large inventories and the currency is effectively "shipped" to the branch for you.

Sub-heading: Potential Other Fees (Less Common for Currency Orders)

While less common for direct currency orders, be aware of:

ATM Fees Abroad: If you plan to withdraw Euros from an ATM in Europe using your Bank of America debit card, you might incur a 3% International Transaction Fee on the converted US dollar amount, plus any fees charged by the foreign ATM operator. Certain account relationships or Preferred Rewards tiers might waive these fees.
Foreign Transaction Fees on Credit Cards: Many Bank of America credit cards charge a foreign transaction fee (typically 2-3%) on purchases made abroad. Consider using a credit card with no foreign transaction fees for your overseas spending.

Step 5: Receiving Your Euros

Once your order is processed and shipped, here's what to expect.

Sub-heading: Home Delivery

Tracking Information: Once your foreign currency order has shipped, Bank of America will send tracking information to the email address associated with your account. Add foreigncurrency@bankofamerica.com to your safe sender list to avoid spam blockers.
Secure Delivery: Foreign currency orders delivered to your address are typically sent via a secure courier service. Ensure someone is available to receive the package, as it may require a signature. If the courier cannot deliver, it will be returned to Bank of America.

Sub-heading: Financial Center Pickup

Identification Required: When picking up your Euros at the branch, you must present valid identification, typically the ID used to open your account.
Authorized Signer: For small business accounts, only an authorized signer listed on the account can pick up the currency.
Prompt Pickup: Remember the 5-business-day holding period. If you don't pick up within this timeframe, the currency will be returned, and the exchange rate applied to the returned currency may be different from your original transaction.

Key Considerations and Tips for Your Trip

Order in Advance: As you've seen, getting Euros from Bank of America isn't an instant process. Always plan to order your currency at least 1-2 weeks before your departure date to account for shipping times and any unforeseen delays.
Mix Your Payment Methods: While having cash is good, rely on a combination of credit cards (especially those with no foreign transaction fees), debit cards, and a smaller amount of cash for convenience and security.
Notify Your Bank: Before traveling, inform Bank of America of your travel dates and destinations to avoid any security holds on your cards due to unusual foreign activity.
Research Local Norms: In some European countries, cash is more widely used for smaller transactions or in certain establishments. Research the payment norms for your specific destinations.
Keep Emergency Funds Separate: Carry a small amount of cash in a separate, secure location as an emergency fund.

10 Related FAQ Questions: How to Get Euros from Bank of America

How to Order Euros from Bank of America Online?

You can order Euros from Bank of America through their Online Banking portal or the Mobile Banking App. Log in, navigate to the foreign currency section, select Euros, enter the amount, choose your delivery method (home or branch pickup), and confirm your order.

How to Get Euros Quickly from Bank of America?

For the quickest option, order online before 2 p.m. (delivery address local time) on a business day and select "Overnight Delivery" for a fee. This typically results in delivery the next business day.

How to Find Out Bank of America's Euro Exchange Rate?

You will see the current exchange rate applied to your order during the online ordering process before you confirm your purchase. For branch orders, the representative will inform you of the rate.

How to Avoid Fees When Getting Euros from Bank of America?

While exchange rate spreads are inherent, you can avoid the $7.50 standard shipping fee by ordering $1,000 USD or more in foreign currency. The $20 overnight shipping fee cannot be avoided if you choose that option.

How to Pick Up Euros at a Bank of America Branch?

You will be notified when your order is ready for pickup. Go to the specified financial center with a valid government-issued ID. For small business accounts, an authorized signer must be present with ID.

How to Order More Than $10,000 in Euros from Bank of America?

If you need to order more than the USD$10,000 online limit within a 30-day period, you will need to visit a Bank of America financial center in person to place your order.

How to Track My Euro Order from Bank of America?

Once your online foreign currency order has shipped, Bank of America will send tracking information to the email address associated with your account.

How to Cancel a Euro Order with Bank of America?

Information on canceling orders isn't explicitly detailed, but generally, once an order is placed and processed for shipping, it may be difficult to cancel. It's best to contact Bank of America customer service or visit a branch immediately if you need to cancel.

How to Know if My Bank of America Account is Eligible for Euro Ordering?

You must have an active Bank of America checking or savings account. If you've been a customer for less than 30 days or had a recent address change, you'll need to pick up your order at a financial center. Business accounts also require branch pickup.

How to Return Unused Euros to Bank of America?

Bank of America accepts foreign currency for exchange back into U.S. dollars at their financial centers. They only accept foreign currency bills that are in current circulation and do not accept foreign coins or mutilated currency. Be aware that the exchange rate applied when selling back currency will be different (less favorable) than the rate when you bought it.

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