It’s important to have options for how to pay when you’re travelling. A credit card without foreign transaction fees is a must, but you’ll also want to travel with a little bit of cash in case you need it. You can travel with your local currency if you don’t have time to order local currency before you leave. If that’s the case, you’ll need to exchange it once you get there.
One of the easiest ways to exchange currency is at the airport. Currency exchanges exist for this reason – to help travellers get funds to use when abroad. However, it may cost you a little bit more for this convenience. Here’s all you need to know about exchanging currency at the airport.
Key Takeaways
- Exchanging currency at the airport can be convenient, but it may cost more due to less favorable exchange rates and additional fees.
- Ordering currency in advance from your bank can give you the best exchange rates, but it requires advanced planning.
- Using a credit card without foreign transaction fees or withdrawing cash from an ATM at your destination are other options to consider, but be sure to notify your bank before travelling to prevent any issues.
- Be cautious when using currency exchange kiosks that are not affiliated with banks or reputable financial institutions as they may offer less favorable exchange rates and charge high fees.
- It’s always a good idea to do some research and planning ahead of time to avoid unnecessary fees and charges when exchanging currency for travel.
Exchanging Currency At The Airport
Once you land, you’ll want to locate the nearest currency exchange kiosk. Sometimes this will be a self-service machine, almost like an ATM, or it will be a desk. There may be long lines, so it’s important to be patient as you wait.
Once you get to the front, present the money you’d like to exchange. It’s best to have a rough idea of how much you’ll get back, so you aren’t shocked when it comes back different than expected. Remember, the exchange rates vary, so it likely won’t be a 1:1 exchange for your local currency.
Often, these airport currency exchange locations carry convenience fees with rates that are less favorable to you, so you’ll pay more for the convenience of changing your money at the bank. Depending on where you’re travelling, they may take your local currency, so it doesn’t hurt to ask before you exchange a lot of money.
It’s best to exchange only what you think you’ll need or a small emergency fund. You will end up losing money as you exchange the money back and forth. Unless you are a frequent traveller, don’t worry about exchanging too much cash. You can always get more as long as you notify your bank and credit card companies that you are abroad.
Other Ways To Exchange Currency
You can order money from your bank before you leave. This will give you the best rate, though it takes time for the money to arrive if they do not have it on hand. This method requires advanced planning; however, it will save you money in the long term, so it may be worth it.
Whatever money you don’t end up using, you can always trade back, though remember you may end up losing some value. The exchange rates vary, so what you got may be different than what you will get when you bring it back.
You can also take money out when you get there. Most ATMs charge a fee, but it’s an easy way to take out just what you need or get more money when you run out. Notify your bank before you leave the state or country. If you don’t, they could put a stop on your card and prevent you from accessing your funds until you verify you are travelling.
So Can I Exchange Currency At The Airport?
Yes, you can exchange currency at the airport, but you will likely pay fees and higher exchange rates for the convenience. If you are able to, the best option to get the best value is to order currency in advance from your bank. If it’s not possible, you can exchange currency at your destination or take out money while you are there.
Remember to only take what you need and tell your bank prior to leaving to prevent issues when you are travelling.
Frequently Asked Questions
-
Can I exchange currency at the airport?
Yes, you can exchange currency at the airport, but you may pay higher fees and less favorable exchange rates.
-
Is it better to exchange currency at the airport or my bank?
It’s usually better to order currency in advance from your bank as you’ll get a better exchange rate. However, exchanging at the airport may be more convenient if you need currency right away.
-
How much cash should I exchange at the airport?
It’s best to exchange only what you think you need or a small emergency fund. Remember that you’ll lose money as you exchange currency back and forth.
-
Can I use my credit card abroad instead of exchanging currency?
Yes, you can use your credit card abroad, but be aware of any foreign transaction fees. Some credit cards offer no foreign transaction fees and favorable exchange rates.
-
Should I use a currency exchange kiosk at the airport?
Be cautious when using currency exchange kiosks not affiliated with banks or reputable financial institutions, as they may offer less favorable exchange rates and charge high fees.
-
What if I have leftover foreign currency after my trip?
You can exchange it back to your local currency, but be aware that you may lose some value. In addition, exchange rates vary, so what you got may differ from what you’ll get when you return it.
-
What if I need more time to exchange currency before my trip?
If you need more time to order currency in advance, you can exchange currency at the airport or withdraw cash from an ATM at your destination. Just be aware of the fees and exchange rates.
Leave A Comment