Foreign Currency
Can I purchase foreign currency from Commerce Bank?
In most cases, yes. Commerce Bank typically has European Union Euros (€) and United Kingdom Pounds Sterling (£) on hand. All other types of currency must be ordered and will take several days to arrive.
What do I need to order currency?
We need to know:
- The type of currency you would like to order and the country for the currency.
For example, “I would like United Kingdom Pounds,” or “I would like Mexican Pesos.”
- The Amount you want to order.
You can tell us the amount in U.S. Dollars or in the currency you are wanting to purchase. For example, you can say, “I would like $1,000 U.S. Dollars in United Kingdom Pounds,” OR “I would like 10,000 Mexican Pesos.” We will purchase currency totaling as close to the amount as you tell us, but given currency conversion rates, it may go slightly over or be slightly less.
- Any special denomination requests.
Do you want only large bills or a mix?
- How soon you need the currency.
It takes several days to receive the currency if it has to be ordered, so please plan in advance.
Commerce Bank charges $45.00 for foreign currency orders. Once the final exchange rate is known, the amount of the currency purchased and the fee must be debited from your checking or savings account.
If you would like a quote on current exchange rates, please let us know. However, please note that these rates change daily.
To order or get a quote, call us at (662) 286-5577 or email us at customerservice@commerce-bank.com.
⚠ When purchasing foreign currency, there is a difference between the value of the U.S. Dollar and the foreign currency. This difference is determined in the global currency exchange market. For example, if you purchase Euros at an exchange rate of $1.1892 per Euro (€), then you must pay $1.1892 for each 1 Euro (€) you receive. So, to purchase 100€, you would owe Commerce Bank $118.92 plus a $45.00 foreign currency purchasing fee. Please note that these exchange rates change daily and are different for each type of currency.
⚠ We purchase the currency at a rate determined by the bank we purchase the currency from and this rate is non-negotiable.
⚠ Currency rates change daily. If you google a currency rate, that will not match the rate you pay for the currency from us.
⚠ Commerce Bank DOES NOT typically buy back foreign currency. If we do, you must pay any fees associated with the selling of the currency and accept whatever amount we receive for the currency. Selling prices are non-negotiable.
⚠ Commerce Bank cannot sell to you or buy from you any foreign currency coins.
⚠ Commerce Bank does not sell foreign currency to non-customers nor do we purchase foreign currency from non-customers.