Where to Exchange Currency (Without the Huge Fees)


Planning to travel abroad soon? You’ll need to look into exchanging currency if you want to have access to resources while on your trip. You have the option to wait until you get there to sort it all out. But you’ll pay a lot more at the airport or in your hotel lobby.

foreign currencies

You can also keep the fees down by only converting a small sum of cash into currency and using credit or debit cards for the bulk of your purchases. But before you take this route, confirm that there are no foreign transaction fees associated with your credit or debit card.

Furthermore, notify the bank that you’ll be traveling abroad so they won’t lock down your card mid-trip because they suspect fraud. And be mindful that some destinations may not accept credit cards on every corner.

Here are some tips to help you find the best place to exchange currency for less.

Before Your Trip

If you want to get the best currency exchange rates, you’ll need to exchange currency before departure using one of these options:

Visit Your Bank or Credit Union

Most major banks and credit unions offer currency exchange to account holders in person or via an online portal. You’ll want to reach out to your bank or credit union to determine how to move forward.

You can also log in to the online banking dashboard to determine if you can order currency directly from your computer or smartphone and retrieve it from a local branch.

Furthermore, ask your bank or credit union if they have a partnership with any overseas banks. If so, you can withdraw cash from their ATMs without paying a fee.

Here’s a breakdown of offerings at some of the nation’s largest banks and credit unions:

  • America First Credit Union: AFCU members can exchange up to $5,000 at select branches. There is a $10 fee for exchanges of more than $300, and a $20 fee for exchanges under $300.
  • Bank of America: checking or savings accounts customers can order up to $10,000 in a 30-day period. Online orders placed by 2 pm will be shipped the same business day. But if you’re a Bank of America credit cardholder, you’ll need to visit a branch to place your order. If you’re a Bank of America Preferred Rewards client, you’ll receive a discount off the published exchange rate.
  • Citibank: Citibank customers with Citigold or Citi Priority Account Packages can exchange over 50 types of currency without incurring a fee. Those with other accounts will be subject to a $5 service fee for transactions under $1,000. Customers also have the option to have money sent to their home for a fee of $10 to $20, depending on shipping preferences.
  • Chase: At local branches, Chase customers can exchange up to $5,000. Please contact your nearest branch to find out about any transaction fees.
  • Huntington Bank: Customers of Huntington Bank are able to exchange up to $20,000 in a variety of 75 different currencies for an $8 fee at any of its branches.
  • PNC Bank: if you’re a PNC customer, foreign currency can be ordered from a local branch. The order will be available within 24 to 48 hours, and there are no transaction fees. PNC doesn’t post foreign exchange rates online, but you can call them for that information.
  • State Employees’ Credit Union: If you’re a member of State Employees’ Credit Union, you can exchange foreign currency at one of their branches. However, it’s important to contact customer service before you visit to make sure the type of currency you need is available at your nearest location.
  • Truist: Foreign currency orders can be placed at a Truist branch. A foreign transaction fee of $10 applies, and orders are available at the branch within two to three business days. There is also a $200 minimum on all orders.
  • TD Bank: you can order foreign currency by visiting a local TD Bank branch. A foreign transaction fee applies, and orders are available for pickup within two business days.
  • US Bank: US Bank customers can exchange currency at any local branch. For orders that are $250 or less, there is a $10 transaction fee. No transaction fee applies to orders over $250.
  • Wells Fargo: you can purchase foreign currency online using your Wells Fargo checking or savings account. You can also visit a branch or call 1-800-626-9430 to place your order. And if your order is over $1,000, it will ship free of charge.

You may also be able to exchange currency at your local credit union. Contact the branch to inquire to avoid wasting your time.

Converting Currency Online

Online currency converters like Travelex are more convenient because you don’t have to visit your bank to pick up the cash. Instead, you can submit your order from the comforts of your own home, and they will deliver the cash to your doorstep.

The downside: fees, fees, and more fees. There’s typically a fee to use the service, you’ll have to pay for shipping, and your U.S. dollars will lose value due to excessive exchange rates.

Foreign Exchange Stores

Depending on where you live, there may be plenty of foreign exchange stores that can exchange currency for you. However, it’s not the best place to exchange foreign currency. Use them as a last resort if the banks or online currency exchange stores don’t quite work out. Reasoning: their primary moneymaker is fees, so most charge top dollar.

During Your Trip

Didn’t quite get the currency you need before departure? It’s not the end of the world, but expect to spend more on currency exchange fees.


If you’re visiting a frequently visited location, you may luck out and spot an ATM from your local bank. This is a golden opportunity for you to get the local currency you need for little to no exchange fee. And even if your bank isn’t there, they may be connected with a bank abroad that allows you to take advantage of this luxury.

Otherwise, you’ll need to search online for nearby ATMs. But be sure to pay attention to the ATM fees. It may also be worthwhile to pull out your smartphone and search for a nearby ATM using your bank’s mobile app.

Aspiration and Schwab Bank don’t charge foreign transaction fees for using your debit card, and both banks offer unlimited foreign ATM fee reimbursements. So if you don’t mind paying the huge fees up front, this is the best solution when traveling abroad because it all comes back to you at the end of the month.

It’s best to only use debit cards at foreign ATMs. Never use a credit card. The cash advance fees and interest are very costly.


The thought of being able to swap out your dollar for local currency in the hotel lobby may bring music to your ears. It’s safe, convenient, and you don’t have to ask around for recommendations on the best places to exchange foreign currency.

Unfortunately, they share the same logic and make customers pay for this service through higher fees and less-than-favorable exchange rates.

Airport Kiosks

Expect exorbitant fees and a crummy exchange rate when you exchange money at an airport kiosk. It all boils down to one word: convenience. And just as practically everything is overpriced at the airport, don’t expect them to cut you a break when it comes to exchanging currency.

After Your Trip

There’s a chance you’ll have some currency in your possession when you return from abroad. Unless you want to keep it as a souvenir, you should:

  • Exchange foreign currency for U.S. dollars at the bank: most banks will buy back foreign currency for consumers, so this is an easy way to get rid of that unwanted cash.
  • Swap the currency for cash at the local airport: if you’re strapped for time but need to get rid of the local currency, head to the local airport and visit a kiosk. They’ll be more than happy to help you out. Plus, you won’t have to wait in those dreaded security lines.

Bottom Line

You may have to spend a little dough to purchase foreign currency. But if you plan ahead and use plastic if possible, you’ll avoid a ton of unnecessary fees and get a favorable exchange rate. And when you return from your trip abroad, you’ll have less foreign currency on hand to worry about.

Allison Martin
Meet the author

Allison Martin is a syndicated financial writer, author, and Certified Financial Education Instructor (CFEI). She has written about personal finance for almost ten years and holds a master's degree in Accounting from the University of South Florida.