Exchanging money for travel can feel overwhelming. With many options available, from airport kiosks to banks, it’s easy to get confused.
If you want the best exchange rates and the lowest fees before and during your trip, this guide can help. We’ve teamed up with Currency Exchange International to show you the best places to exchange money and order foreign currency, including easy online options.
Where to Exchange Currency: Quick Tips
To get the best rates and lowest fees, use your bank or a trusted online service like Currency Exchange International. Exchange currency before your trip so you have cash when you need it. To save time, order foreign currency online and choose next-day delivery or local pickup.
Banks and Credit Unions
Before you travel, contact your bank or credit union to see if they can exchange the currency you need. Banks usually have better rates than airport kiosks and tourist exchange desks. You can often order over the phone and pick it up at the branch a few days later.
Some banks may not charge fees if you convert a certain amount. When you return home, your bank might buy back any leftover foreign currency.
Before you exchange, check the current rates on websites like Xe.com or Reuters. The rates you see there are not the same as what you will get when you exchange. They show the interbank rates used for big transactions.
Online Currency Exchanges
You can also get foreign currency online without leaving your home. Currency Exchange International (CXI) is the largest non-bank currency provider in the U.S.
They offer online ordering for over 80 currencies, with options for home delivery or branch pickup. It’s easy to use—just visit their website, select the currency you want, and choose how to pay. CXI can also exchange leftover bills at their branches, but not coins.
ATMs
If you’re already traveling, you can get local currency from an ATM. If you bank with an international bank, find one of their ATMs where you are. You can usually withdraw money in local currency at a good rate and with lower fees. If not, you can still use your debit card at most ATMs, but you might pay higher fees.
Why Bring Foreign Currency When Traveling
Security
If your card is lost or stolen while you’re abroad, you’ll wish you had cash. Paying with cash also reduces the risk of fraud and helps if your bank locks your account due to unusual transactions.
Convenience
While your card might work at home, it may not in other countries. Cash is accepted everywhere, and many small vendors only take cash. Having foreign currency helps you pay for things like street food, tips, and haggling for prices.
Avoid Costly Fees
Many banks charge foreign transaction fees. If you need local currency while traveling and didn’t plan ahead, you may face high exchange rates or extra fees for using your card.
Why You Should Order Currency Online
Save Time
Instead of waiting at the bank or airport, you can order online from home. CXI offers next-day delivery and quick local pickup.
No Exchange Fees
When you order for home delivery through CXI, you won’t pay any exchange fees. Orders over $1,000 get free next-day shipping.
Wide Variety of Currencies
Online exchanges often have more currencies available. CXI, for example, offers over 80 different currencies.
Delivery to Your Home
If you need money fast, CXI provides free next-day delivery for orders over $1,000.
Benefits of Dealing with a Specialist
Currency Options
CXI has a wide range of currencies, including less common ones. No matter where you’re going, they can help.
Competitive Rates
Exchange specialists often have better rates. CXI even offers a Best Rate Guarantee, promising to match or beat local bank rates.
Exchange Money on Your Schedule
Unlike banks, CXI allows you to exchange money anytime, even during holidays. They also have branches in major cities with extended hours.
Mistakes to Avoid
Not Exchanging Currency in Advance
You’ll get better rates and lower fees by ordering currency before your trip. Having local money ready when you arrive is also helpful.
Exchanging Currency at Airports or Tourist Centers
While it seems easy, airport exchanges usually have worse rates and higher fees.
Planning to Use Your Home Currency
Vendors in other countries may not accept your home currency, and you could lose money on inflated exchange rates.
Relying Solely on Credit or Debit Cards
Even if your card has low fees, it won’t work everywhere. If you lose your card and don’t have local currency, you could be stuck.
Getting Scammed
Using untrustworthy exchange places increases your risk of fraud. Always use a reliable service like Currency Exchange International to get the right amount of valid currency.
