Planning a trip to Europe and need some Euros in hand? Getting foreign currency from your bank is often a reliable and convenient option. If you're a Bank of America customer, you have a few ways to request Euros, whether you prefer the ease of online ordering or a personal touch at a financial center. This comprehensive guide will walk you through each step, helping you get ready for your European adventure!
Embarking on Your Euro Quest: Why Pre-Order?
Before we dive into the "how-to," let's consider why you might want to pre-order Euros from Bank of America. Imagine landing in a new country, perhaps after a long flight, and needing cash for a taxi, a quick bite, or a tip. Having some local currency on hand from the get-go can save you from immediate stress, potentially unfavorable airport exchange rates, and the hassle of finding an ATM or currency exchange upon arrival. It offers peace of mind and a smoother transition into your travel experience.
A Step-by-Step Guide: How to Request Euros from Bank of America
Bank of America offers a few convenient methods for ordering foreign currency. The best option for you might depend on your preference for online convenience versus in-person assistance, and the amount of currency you need.
Method 1: Ordering Euros Online or via the Mobile App (Recommended for Convenience)
This is generally the easiest and quickest way to get your Euros if you have a Bank of America checking or savings account.
Step 1: Get Ready and Log In!
Are you excited for your trip? Great! The first step to getting your Euros is to log in to your Bank of America online banking account or open your Mobile Banking app.
- Accessing Online Banking: Head to the official Bank of America website and enter your User ID and Passcode.
- Using the Mobile App: Open the Bank of America Mobile Banking app on your smartphone or tablet.
Pro-Tip: Ensure your app is updated to the latest version for the best experience. If you haven't used online banking or the app before, you'll need to enroll first.
Step 2: Navigate to the Foreign Currency Section
Once you're logged in, you'll need to find the specific section for foreign currency orders.
- Online Banking: Look for options like "Pay & Transfer," "Account Services," or a dedicated "Foreign Currency" link. Sometimes it's under a "Travel" or "International Services" menu.
- Mobile App: In the mobile app, you typically select your bank account, then scroll down to the "Mobile orders" section and select "Foreign currency." You can also often use the "Ask Erica®" virtual assistant to help you find it.
Step 3: Specify Your Euro Order
Now comes the fun part – telling Bank of America how many Euros you need!
- Select "Euros": From the list of available currencies, choose "European Union (EUR)" or "Euros."
- Enter the Amount: You can usually input either the USD amount you want to exchange or the Euro amount you wish to receive. The system will then show you the equivalent value.
- Important Note: Bank of America generally allows online orders up to $10,000 USD within a 30-day period. There's also a minimum order of $100 USD in foreign currency (or $25 USD per individual currency if ordering multiple).
- Review the Exchange Rate: Before confirming, always check the exchange rate provided. This rate includes Bank of America's markup, so it won't be the exact "mid-market" rate you see on financial news sites.
Step 4: Choose Your Delivery Method
Bank of America offers flexibility in how you receive your Euros.
- Home Delivery:
- For orders under $1,000 USD, you can have the Euros shipped directly to your address of record. There's usually a $7.50 delivery fee for standard shipping.
- For orders of $1,000 USD or more, you will generally need to pick up your order in person at a financial center.
- Expedited/Overnight Delivery: An option for next-business-day delivery (if ordered by 2 PM local time) is often available for a higher fee, typically around $20 USD.
- Financial Center Pick-up:
- This is required for orders of $1,000 USD or more, or if you are a new customer (less than 30 days) or your address has changed in the last 30 days.
- Even for financial center pickups, a delivery charge may apply if your order is under $1,000 USD.
Step 5: Confirm and Pay for Your Order
- Payment Method: You'll need to pay for your online foreign currency order using a Bank of America checking or savings account. Credit cards or other payment methods are generally not accepted for online orders.
- Review and Place Order: Double-check all the details – the amount, currency, delivery method, and estimated total – before clicking to confirm your order. You'll usually receive a confirmation email or message.
Method 2: Requesting Euros at a Bank of America Financial Center (For Larger Amounts or Specific Needs)
If you prefer a face-to-face interaction, need a larger amount of currency than online limits allow, or only have a Bank of America credit card (no checking/savings account), visiting a financial center is your route.
Step 1: Locate Your Nearest Financial Center
- Use the Branch Locator: Visit the Bank of America website or use the mobile app's "Locations" feature to find a financial center near you.
- Check Hours: Note their operating hours to ensure they're open when you plan to visit.
Step 2: Prepare for Your Visit
To make your visit smooth and efficient, gather the following:
- Valid Identification: Bring a government-issued photo ID, such as your driver's license or passport.
- Account Information: Have your Bank of America account number handy.
- Desired Amount: Know approximately how many Euros you need.
- Payment Method: If you are a Bank of America relationship client, you may be able to pay for your euro order in cash at a financial center. Otherwise, you'll likely need to use your checking or savings account.
Step 3: Speak to a Teller or Financial Specialist
Once at the financial center, explain to a teller or a financial specialist that you wish to order Euros. They will guide you through the process.
- Inquire about Exchange Rates: Ask about the current exchange rate they are offering for Euros.
- Discuss Fees: Confirm any applicable fees, which might include an exchange rate markup or a small processing fee.
- Placement and Pickup: The specialist will help you place your order. Since financial centers typically don't keep large amounts of foreign currency on hand, your order will likely need to be ordered and then picked up on a subsequent business day. They will inform you of the estimated pickup time.
Understanding Costs and Delivery Times
When requesting Euros, it's crucial to be aware of the associated costs and how long it will take to receive your currency.
Exchange Rates and Markups
Bank of America, like most financial institutions, does not use the exact mid-market exchange rate (the rate you see on Google or financial news). They apply a markup to this rate, which is how they profit from the currency exchange. This markup is integrated into the exchange rate they quote you.
- Preferred Rewards Clients: If you are a Bank of America Preferred Rewards client, you may receive a discount of up to 2% off the published exchange rate, depending on your tier, which can help offset some of these costs.
Fees
- Delivery Fee: For online orders under $1,000 USD delivered to your home, a standard $7.50 delivery fee applies. This fee can also apply to orders under $1,000 picked up at a financial center. Preferred Rewards members often get standard shipping for free on online/mobile orders.
- Expedited Shipping Fee: If you opt for next-business-day delivery, expect a higher fee, typically around $20 USD.
- No "Order Fee": While there isn't a separate "order fee" explicitly stated, the cost is built into the exchange rate markup and any applicable delivery fees.
Delivery Times
- Standard Delivery: If you place your order before 2:00 PM (local time of your delivery address) Monday to Friday, your Euros will typically ship the same business day, with delivery expected in 1 to 3 business days.
- Next Business Day Delivery: If you opt for expedited shipping and place your order before the 2:00 PM cutoff, you could receive your Euros on the next business day.
- Orders After Cutoff/Weekends/Holidays: Orders placed after 2:00 PM on a business day, or on weekends/holidays, will ship on the next business day, extending the delivery time.
- Plan Ahead: It's always best to order your Euros well in advance of your trip to avoid any last-minute stress or unexpected delays.
Important Considerations for International Travel
Beyond ordering Euros, here are some crucial tips for managing your finances while traveling internationally:
- Notify Bank of America of Your Travel Plans: While not always strictly necessary anymore for debit/credit cards due to advanced fraud detection, it's still a good idea to set a travel notification on your Bank of America accounts. This helps prevent your card from being flagged for suspicious activity and temporarily frozen while you're abroad. You can usually do this online or via the mobile app.
- Understand ATM Fees Abroad: If you plan to withdraw Euros from ATMs overseas, be aware of potential fees.
- Bank of America charges an International Transaction Fee of 3% of the converted USD amount for ATM withdrawals made outside the US.
- The local ATM operator may also charge their own fees.
- Tip: Look for ATMs that are part of Bank of America's Global ATM Alliance (if applicable in your destination) to potentially reduce or avoid some fees.
- Credit Card Foreign Transaction Fees: Many Bank of America credit cards charge a foreign transaction fee, typically around 3% of the transaction amount, for purchases made in a foreign currency. However, some Bank of America credit cards, particularly travel rewards cards like the Premium Rewards credit card or Travel Rewards credit card, have no foreign transaction fees. If you travel frequently, consider one of these cards.
- Carry a Mix of Payment Methods: Don't rely solely on cash or a single card. Carry a combination of Euros, your Bank of America debit card, and at least one credit card (preferably one with no foreign transaction fees) for emergencies and larger purchases.
- Keep Emergency Contacts Handy: Have Bank of America's international customer service numbers readily available in case your cards are lost or stolen while abroad.
Frequently Asked Questions (FAQs)
How to check the current Bank of America Euro exchange rate?
You can check the current Bank of America Euro exchange rate directly on their website by using their foreign currency calculator, or within the Mobile Banking app when initiating an order. Be aware that this rate includes their markup.
How to avoid fees when ordering Euros from Bank of America?
While you cannot entirely avoid the exchange rate markup, you can avoid the standard $7.50 delivery fee for online/mobile orders if you are a Bank of America Preferred Rewards member. For orders over $1,000 USD, standard delivery to a financial center is also typically free.
How to order more than $10,000 USD in Euros from Bank of America?
If you need to order more than the $10,000 USD online limit for Euros, you will need to visit a Bank of America financial center in person to place your order.
How to get Euros on the same day from Bank of America?
Generally, you cannot get Euros on the same day from Bank of America as they do not stock large inventories at branches. Orders typically take 1-3 business days for standard delivery, or next business day with expedited shipping (if ordered by the 2 PM cutoff).
How to pay for my Euro order with a credit or debit card at Bank of America?
When ordering Euros online or via the mobile app, you must pay using a Bank of America checking or savings account. If you are a Bank of America relationship client, you may be able to pay in cash at a financial center. Credit or debit cards are generally not accepted for direct currency orders.
How to track my Euro order from Bank of America?
Once you place an online or mobile order, you may receive alerts and in-app updates that allow you to track the status of your foreign currency cash order.
How to exchange leftover Euros back to USD at Bank of America?
You can exchange foreign currency bills (no coins) for US dollars at any full-service Bank of America financial center after you return from your trip. The exchange rate for conversion back to USD will apply.
How to use my Bank of America debit card in Europe without high fees?
Bank of America charges a 3% international transaction fee on debit card purchases and ATM withdrawals in foreign currency. To minimize fees, consider using a credit card with no foreign transaction fees, or withdrawing larger sums less frequently from ATMs.
How to find Bank of America partner ATMs in Europe?
Bank of America has a Global ATM Alliance with certain banks worldwide. You can find a list of their international ATM partners on the Bank of America website's "International Travel" or "Locations" section to potentially avoid some ATM fees.
How to ensure my Bank of America card works while traveling internationally?
It's recommended to set a travel notification for your Bank of America debit and credit cards online or through the mobile app before your trip. This helps prevent your transactions from being flagged as suspicious and your card from being temporarily blocked.
