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Where Can I Exchange Foreign Currency?

Where Can I Exchange Foreign Currency?

Getting your hands on foreign currency doesn't have to be complicated or expensive—you just need to know where to look.

Written by

June 15, 2025

Planning an international trip raises an important question: Where can I exchange foreign currency?

Whether you're traveling for business or pleasure, you'll need foreign currency to make the most of your overseas experience.

From our best online banks to local exchange offices, you'll find plenty of options for converting your money.

However, fees and exchange rates can vary significantly depending on your choice. We've researched the best places to exchange foreign currency before, during, and after your trip.

Key Insights on Exchanging Foreign Currency

Exchanging foreign currency at your local bank or credit union can save you on ATM fees and may offer better exchange rates.
Mobile banking apps offer low-rate currency exchange services plus international debit cards for convenient overseas spending.
Check your credit cards first—many offer zero foreign transaction fees and competitive exchange rates.

How to Exchange Currency

You can exchange money at banks, credit unions, or currency exchange offices. Many credit cards also offer fee-free transactions abroad, making them a convenient option for international purchases.

If you choose to exchange at a bank, call ahead to check if they carry the currency you need. Not all banks stock every type of foreign currency—in this case, you might need to wait until you arrive at your destination to exchange money at a local bank.

Here's how to exchange currency at a bank or credit union:

Contact the bank to learn their exchange rates or check online
Choose how much you'd like to exchange
Order foreign currency online for delivery—or exchange in person at a local branch

Note: You may need an open checking or savings account with the bank to exchange currency.

Best Places to Exchange Currency Before and After Traveling

Local banks and credit unions: Planning ahead to exchange your dollars at these institutions will give you access to competitive rates and convenient service. Many banks offer fee-free exchanges with rates you can verify online, though you should call to confirm current rates before choosing.
Currency exchange apps: Digital platforms like Wise or Revolut offer transparent rates and low fees through mobile apps, making currency exchange simple and accessible.

Places to Avoid Exchanging Currency

Airport currency exchange offices: These locations offer convenience but typically charge high fees and provide poor exchange rates. You should only use them as a last resort, as exchanging money before your trip is much more cost-effective.
Exchange kiosks abroad: These are commonly found in tourist areas and local markets, but they often have unfavorable rates and charge additional fees that significantly reduce your money's value.
Currency exchange ATMs: While these machines provide convenient access to local currency, they typically charge high exchange rates and multiple fees. Your bank will likely charge foreign transaction charges, and the ATM operator will charge additional fees.

Where Else Can You Exchange?

Once you arrive at your destination, you may want to take out more cash for shopping and paying for local expenses. Using an ATM is the most convenient but usually the most expensive.

Another option is using a service like Wise to exchange foreign currency digitally. Wise comes with a debit card that charges a very low foreign transaction fee—and you can hold up to 40 different currencies in your account simultaneously.

Alternatives to Exchanging Currency

While having local cash is helpful for international travel, you don't necessarily need to exchange currency before going abroad. Here are some alternatives worth considering:

Credit Cards

Using credit cards for international purchases can be both safe and cost-effective.

“

Credit cards often provide competitive exchange rates, reducing the need for carrying large amounts of cash.

– Jacob Rothman, CFP, and founder of Rothman Investment Management

He mentions that travelers can choose cards without foreign transaction fees and research their destination's payment preferences, as some countries primarily operate on cash transactions.

Fee-Free Debit Cards

Several banks offer debit cards designed for international use without foreign transaction fees. For example, Schwab provides a checking account with no international transaction fees or ATM charges, making it easy to access your money worldwide without incurring extra costs.

Bottom Line

Smart currency management is essential for international travel. Planning ahead and exchanging currency through your local bank or credit union typically offers the most cost-effective solution. Currency exchange apps also provide competitive rates and convenient international debit cards.

If you prefer to minimize cash transactions, credit cards and debit cards with no foreign transaction fees offer a seamless way to make purchases abroad. Regardless of your choice, comparing exchange rates before your trip will help you maximize your travel budget.

Written byJacob Wade

Jacob Wade is a personal finance expert at BestMoney.com, focusing on banking products, loans, and financial apps. His work has been featured in Forbes Advisor, Investopedia, and Time. A former enrolled agent with CPA firm experience, Jacob also shares his knowledge of credit card rewards and travel hacking.