Where to Exchange Currency for a Trip (2024)

Anytime you travel abroad to a country with a different currency, you will need to have a plan when it comes to how you will make payments. 

It’s 2024, which means that credit cards such as Mastercard and Visa are widely accepted in many locations around the world. However, it’s essential to research the country/region you are visiting and understand whether it is necessary to exchange cash. 

Even if you plan to rely heavily on your credit card during your travels, it’s not bad to have a small stack of local currency in a place other than your wallet. Having a separate area with backup cash can save the day if you ever have a bag/purse stolen/lost while traveling. 

Here are the best places to exchange currency for a trip in 2024: 

Where to Exchange Currency for a Trip

Your Local Bank/ Credit Union 

Before your trip, head to your local bank or credit union and ask about exchanging currency. There may be a small fee, but it is much less than in many other places. One significant advantage of doing it at your bank is that you take care of the chore before your trip. That way, when you land, you have one less thing on your mind to do before you start enjoying your vacation. 

Thanks to technology, you can now also request exchanged currency by phone or via your online banking center to get it mailed directly to you. It doesn’t get much easier than that! 

ATM 

Although there is no right or wrong way to exchange currency for a trip, my preferred method is ATMs. This means that you wait until you travel to the country, then visit a local ATM and withdraw cash from your debit card. It doesn’t matter where you are traveling; I’ve found ATMs in remote locations worldwide. 

ATMs allow you to withdraw the local currency directly from the bank with a fee attached for the transaction, just as you would with an out-of-network ATM in your home country. I recommend withdrawing the maximum ATM amount on your first visit to ensure you have enough cash to last you the trip and avoid revisiting an ATM and paying the withdrawal more times than needed. 

Where NOT to Exchange Currency for a Trip 

The Airport 

Currency exchange will always be conveniently located in airports. It may seem like a prime location to exchange currency for your trip. However, airports have the worst exchange rates compared to almost every other location, and you can save a lot more money by getting a better exchange rate outside the airport. 

Downtown/Tourist Locations 

Similar to airports, convenience is key for a lot of travelers. If you see a currency exchange in the middle of a tourist area, chances are the conversion rates will be worse than those of banks, ATMs, and other exchange areas. 

Where to Exchange Currency After Your Trip Has Ended 

If you have leftover money at the end of your trip, the easiest and most cost-effective way to exchange your currency is to wait until you return home to do it at your local bank or credit union.