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WebJun 6, 2024 · By the way, sometimes the foreign transaction fee is called a foreign exchange fee. At one time it was called a currency conversion fee, but that fee is now … WebMar 21, 2024 · A foreign currency bank account, also known as a multicurrency account, can facilitate transactions made in foreign currencies; that is, not in U.S. dollars. This can be a significant benefit for businesses. They may use multicurrency (or foreign currency) bank accounts for international transactions as well as to support operations overseas. WebOct 19, 2024 · Many U.S. banks will exchange USD for foreign currencies without charging a fee, but there are often stipulations. For instance, Bank of America customers can … candy anthony art