Does Capital One do currency exchange?

Yes, Capital One does do foreign currency exchange but they charge commission fees as well as hidden exchange rate margins. Revolut and Wise exchange currency at the real mid-market rate and let you hold money in digital accounts on your smartphone. Do you have to pay for currency exchange?

What is a currency exchange?

Currency exchanges are businesses that allow customers to swap one currency for another. Currency exchanges can be found in physical locations, such as in banks or airports, but are increasingly common online. Currency exchange fees vary so much that credit card fees may be less than the fees paid through adjusted exchange rates.

Does Capital One charge foreign transaction fees?

Not all card issuers charge foreign transaction fees. Capital One’s U.S.-issued credit cards, for example, don’t charge fees for foreign currency transactions. That being said, foreign transaction fees can vary by card issuer and product. Other types of cards —like debit cards or prepaid travel cards—could also charge these fees.

Do banks charge a fee to exchange currency?

Banks will usually charge a transaction fee for exchanging currency. You'll either pay a flat fee or a variable fee. It depends on the amount and type of currency. A bank representative will guide you through the steps of buying currency at your appointment.