We earn commissions from brands listed on this site, which influences how listings are presented.

Home/
Online Banking/
Where Can I Exchange Foreign Currency?

Where Can I Exchange Foreign Currency?

Written by

April 13, 2026

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

Where Is the Cheapest Place to Exchange Foreign Currency?

Local banks and credit unions typically offer the most competitive exchange rates with lower fees. Online multi-currency services like Wise or Revolut also provide transparent rates. Airport exchange kiosks should generally be avoided due to high markups.

Whether you're traveling for business or leisure, you'll likely need foreign currency at some point. However, exchange rates and fees vary widely depending on where you convert your money. Below, we break down the safest and most cost-effective options before, during, and after your trip.

Key Insights

Local banks and credit unions typically offer the best exchange rates if you plan ahead.
Airport kiosks and tourist exchange counters often include high markups and should be used only in emergencies.
Online multi-currency services provide transparent rates and convenient international spending.
Credit cards with no foreign transaction fees may eliminate the need to exchange cash altogether.
Comparing exchange rates before traveling can save 5–15% in hidden costs.

Best Places to Exchange Foreign Currency Compared

Option	Exchange Rates	Fees	Convenience	Best For
Local Bank or Credit Union	Competitive	Low or none (with account)	Moderate	Planning ahead
Online Currency Services (Wise, Revolut)	Transparent, near-market	Low	High	Digital travelers
Airport Exchange Kiosks	Poor	High	Very High	Emergencies only
ATMs Abroad	Market rate (depends on bank)	ATM + foreign fees	High	Short-term cash needs

In short: Plan ahead and use your local bank or a trusted digital currency service. Avoid airport kiosks unless absolutely necessary.

Quick Decision Guide

Choose your local bank or credit union if:

You can plan ahead
You want the most competitive exchange rates
You have an existing account

Choose an online currency service if:

You prefer digital convenience
You want transparent, near-market exchange rates
You travel frequently

Use airport exchange kiosks only if:

You need immediate cash upon arrival
You cannot access an ATM or a bank

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 kiosks often include hidden markups within the exchange rate itself, meaning you may lose 5–15% compared to market rates.

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.

Frequently Asked Questions

Is it cheaper to exchange currency before or after traveling?

Exchanging currency at your local bank before traveling usually offers better rates than airport kiosks abroad.

Should I exchange money at the airport?

Airport exchange services are convenient but typically charge higher fees and offer less favorable exchange rates.

Is it better to use an ATM abroad?

Using an ATM abroad can provide competitive exchange rates, but check your bank’s foreign transaction and ATM fees first.

Can I exchange currency online?

Yes. Services like Wise and Revolut allow digital currency exchange with transparent fees and debit cards for international spending.

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.