Where to Exchange Currency Without Paying Huge Fees

Currency Exchange in the US
If you’re planning a trip overseas - for work or a vacation - you’ll need to plan ahead to make sure you choose the best possible way to get your travel spending organized. Picking a travel money option that’s convenient, safe, cheap and comes with the best available exchange rates will mean you have more to spend while you’re away from home.In this guide, we’ll cover your key options including:
  • Best places to buy foreign currency
  • How to buy foreign currency online 
  • How to buy foreign currency in person
  • How much does it cost?
  • Tips to make your travel money go further

Wise

  • Hold and exchange 40+ currencies
  • Spend with card or make ATM withdrawals in 150+ countries
  • Mid-market exchange rate

Wise personal debit card green

Revolut

  • Different account types
  • Pay with card or make ATM withdrawals overseas
  • All accounts offer some weekday no fee currency conversion

CXI

  • Travel cash available for pick up at one of 35 US branch locations, or for home delivery
  • 80+ currencies supported 
  • Buy online or in person, plus home delivery options

Best places to buy foreign currency in the US

The best way to buy foreign currency in the US will depend on your situation. It might be a bank, physical currency exchange bureau, online foreign exchange services, or a debit or credit card. Let’s walk through some of the most popular ways to buy foreign currency in the US to learn more.

Buy foreign currency online

If you’d prefer to arrange your travel money online for speed and convenience you’ve got a couple of options:

  • Open a multi-currency account to hold and exchange foreign currency, and spend with a linked debit card 
  • Order online and pick-up cash from a currency exchange office - or have your money delivered to home instead

Here is how each option works.

Currency exchange
The best place for currency exchange in the US

Online multi-currency accounts

Specialist providers operating in the US and internationally offer multi currency accounts with linked cards, which you can use for easy spending overseas, and to make international cash withdrawals to get your travel money.

With an online multi-currency account you’ll usually add money in USD and then either switch to the currency you need in your destination in advance or at the point of payment. If you’d prefer to leave your money in USD, the card will simply do the conversion for you when you tap to pay in a store or when you make a cash withdrawal.

Online multi-currency accounts are often offered by non-bank alternative providers - we’ll look at a couple, Wise and Revolut in a moment. They’re still safe to use, but because they’re specialists without a branch network to pay for, they can often offer great exchange rates and low overall costs. You’ll often also get some free or low fee ATM withdrawals for travel cash, too. Here’s a quick look at Wise and Revolut, two popular providers offering digital multi-currency accounts and cards to US citizens and residents.

Wise

  • Hold and exchange 40+ currencies in your account, spend and withdraw with your Wise card in 150+ countries
  • Get some free ATM withdrawals every month - Wise fees apply once your allowance is exhausted
  • Low, transparent transaction fees apply for the services you use
  • Currency conversion uses the mid-market exchange rate, with no ongoing charges or minimum balance to meet 
Wise personal debit card green

Revolut

  • Standard account has no monthly fees, or trade up for a fee of up to 16.99 USD/month for more features
  • Hold and exchange 25 currencies in your account and access handy budgeting, investing and saving tools
  • All accounts have some weekday no fee currency exchange and some no fee cash withdrawals when you’re overseas 

Need buy a specific foreign currency in the US?

We have lots of useful guides on buying currencies for the most popular holiday destinations for travellers from the USA:

Alternatively if you are looking for currency exchange in New York or currency exchange in LAX read our detailed articles, for useful tips.

How much does it cost to buy foreign currency?

 

The amount you pay for foreign currency can vary widely so it pays to do your homework before taking your well deserved break. To illustrate the the pros and cons for each of your international withdrawal options, we’ve compared the costs associated with various methods of converting $300 into Euros. This table of costs shows exchange rate and fee information obtained from the WalletHub Credit Card Landscape Report and the Currency Exchange Study.

Alternatively the table below highlights the difference in spending money your will receive if you wish to buy euro in cash.

 

Euro Will You Receive for $1500 USD
Bank of America€1,258.18
Currency Exchange International (CXI)€1,245.00
Travelex€1,230.75

 

Tips - How to Stretch Your Dollar

Look out for fees

When buying a little bit of money for your vacation it’s unlikely you’ll be charged, but that does not mean it can’t happen. If ordering in person ask the cashier about fees, if doing so online read the fee structure quickly. Any reputable money exchange provider will provide this information.

Request a better rate

If you don’t ask you’ll never receive. If you’re exchanging a lot of money it’s foolish not to ask. Also, often you’ll find there is some wiggle room.

Call ahead

Once you’ve figured out which currency changer you want to use give them a quick call. Why? This is just to save you the time of visiting and then realizing they don’t have the currency or amount you require.

Another thing you’ll want to remember to ask is about denominations. You don’t want to turn up at the retail location for your money only to find out all they have is $50 bills.

Don’t put all your money in one spot

Before you embark on your trip be sure to consider how you’re going to carry your money. The following routine has been successful in our experience:

  • Take some small currency for taxis, meals, and tips.
  • Get some cash on a travel card for big purchases like hotels.
  • Remember to take your debit card handy as a backup plan.

Be the first to know about the great rates 

Simply use our free email alerts to track the rate daily. Or set the rate you want and we'll email you when it's time to buy.

Oscar Murray
Read more
Last updated
March 18th, 2024