But depending on where you go, you might have to pay a lot of money in order to exchange currency. If you’re traveling to Mexico, England or somewhere else outside the U.S., you’ll likely need access to foreign funds. You may be able to avoid paying a shipping fee by ordering large amounts of currency at a single purchase. is just one website that makes it easy to compare different bureaus and find the ones with the best exchange rates. But to get the most money at the cheapest rates, you’ll need to do some research. There are various online bureaus that sell foreign currency. If they are willing to do so you’ll likely have to pay a fee, just as you would in the U.S. Setting up an account may take time, so you’ll either need to do it in advance or open the account so you can access it later during your next trip.Įven if you don’t open a foreign bank account, these bank branches still might be able to exchange currency for you. If the bank sells currency, you could wait until you arrive to get the funds you need. Opening a bank account in a foreign country might make sense if you frequently travel there, or especially if you own property in the country. They offer some of the same benefits that traveler’s checks provide without the hassle of having to cash in the checks.Ĥ. So you’ll probably have to find a bank once you get to your destination that cashes travelers checks.Īn alternative is to find a prepaid travel credit card, like the ones offered by American Express and MasterCard. The downside is that not all businesses let you use them to make purchases. Plus, once you have them, you’re the only person who can trade those checks in for foreign currency. The good thing about traveler’s checks is that you can easily order additional checks if you lose them or someone steals them. But the fee you’re required to pay may be higher if you don’t have an account with the bank. If you visit its website, you can enter your address and get a list of the closest banks that provide traveler’s checks. Many traveler’s checks come from American Express. If you can’t get traveler’s checks from your own bank, there may be another bank in your area that sells them, and your bank might even be able to give you a referral. Again, going into the bank and buying them from a teller is a good idea if you don’t want to pay extra to have them mailed to you. You may be able to buy them from your bank or credit union, but you’ll likely have to pay a small fee. You can get travelers checks from most banks or credit unions. Consider Getting Traveler’s ChecksĪnother way to exchange currency is to purchase traveler’s checks. If there are fees that you have to pay, it might be a good idea to take out as much money as you can at one time so that you don’t rack up fees for smaller withdrawals.

If it does, you may be able to withdraw funds from one of their ATMs once you arrive. You can also find out whether your bank has a foreign affiliate.

cash out and plan on exchanging it for the going rate when you enter the country. As long as it’s within your bank’s network, you should have to pay little to no fees for your withdrawals, if the ATM is able to process foreign transactions. Visit an ATMĪnother option, if you’re unable to go to a bank branch before it’s time to leave, is to stop by an ATM. The process is pretty simple and you could be able to exchange the money you need in the matter of minutes. Plus, larger banks often get access to the best exchange rates. You may not have to pay a fee at all, as a loyal customer. However, if you have to pay shipping fees, you could lose a lot of money in the process.Ī cheaper way to get access to foreign currency is to buy it from your local bank branch in person. That may be a convenient way to get the money you need for your trip. Some financial institutions will even order currency, or allow you to order it online, and ship it to your home. Many banks and credit unions offer a foreign currency exchange service for a fee.

Foreign currency compare