Jazmin Li
Exchanging money at the airport is a convenient option for travellers who need to swap their cash for the local currency of their destination. Airports are designed to cater to the needs of holidaymakers and international travellers, and currency exchange kiosks and counters can be found within terminals, making them easily accessible. However, airport currency exchange counters generally offer poor exchange rates, and travellers may find it more cost-effective to order foreign currency from their bank before travelling or to rely on cards for purchases and withdrawals while abroad.
| Characteristics | Values |
|---|---|
| Convenience | Currency exchange kiosks and counters are conveniently located within airport terminals, making them easily accessible just before departure or immediately after landing. |
| Cost | Airport currency exchange counters generally offer the worst exchange rates. |
| Alternatives | Ordering currency from your bank before you travel is almost always better than using the airport currency exchange. |
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What You'll Learn
Airport currency exchange rates
Currency exchange rates at airports are often not favourable, and it is generally recommended to avoid exchanging currency at the airport unless absolutely necessary. Many travellers opt to use cards or mobile payments instead of carrying large amounts of cash, and some also suggest using leftover cash to pay for expenses at the airport, such as duty-free shopping or food.
However, if you do need to exchange currency at the airport, it is important to be aware of the exchange rates offered. Exchange rates at airports can vary, and it is worth checking the rates in advance to ensure you are getting a fair deal. For example, as of May 24, 2025, Boston International Airport offered an exchange rate of 1 USD to 1.168340 CAD (Canadian Dollar) for online orders, while as of June 13, 2025, JFK International Airport offered a rate of 1 USD to 1.154054 CAD. These rates may differ from those offered by local banks or other financial institutions, and it is always a good idea to compare rates before exchanging large sums.
Additionally, some airports may have multiple currency exchange locations with varying rates and fees. For instance, Washington Dulles International Airport has multiple International Currency Exchange locations, and MSP Airport has Currency Exchange International booths in different terminals with varying operating hours. It is worth checking the specific rates and locations for the airport you are travelling through.
While airport currency exchange booths offer convenience, they may not always provide the most competitive rates. If you have the option, it might be beneficial to explore other alternatives, such as using a card that rebates ATM fees, making smaller cash withdrawals, or exchanging currency before arriving at the airport. By being mindful of the exchange rates and planning ahead, you can make informed decisions about exchanging currency at the airport.
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Alternatives to exchanging currency at the airport
Exchanging currency at the airport is convenient and quick, but it often comes with higher fees and poor exchange rates compared to other options. Here are some alternatives to exchanging currency at the airport:
Plan Ahead and Exchange Currency Before Your Trip:
Before embarking on your journey, consider exchanging your currency at your local bank, credit union, or a trusted online bureau. These institutions typically provide more favourable exchange rates and lower fees than airport currency exchanges. Planning ahead can help you secure more competitive rates and avoid last-minute exchanges, which often come with higher costs.
Use Foreign ATMs or Your Bank's ATMs Overseas:
When travelling, look for foreign automated teller machines (ATMs) that offer currency exchange. Withdrawing money from ATMs within the airport or in the destination country can provide better rates and lower fees than airport exchange kiosks. Check with your bank to see if they have ATMs or banking affiliates in the countries you are visiting.
Utilize a Credit Card or Debit Card:
Using a credit or debit card for purchases while travelling can eliminate the need for currency exchange altogether. However, be cautious when merchants offer to charge your card in your home currency (e.g., US dollars) as this can result in unfavourable conversion rates and additional fees. It is generally more advantageous to pay in the local currency when using cards.
Spend Leftover Cash Strategically:
If you have leftover foreign currency at the end of your trip, consider using it for purchases at the airport, such as snacks, gifts, or duty-free items. You can also keep small denominations as souvenirs or for a future trip. If you have larger amounts, consider exchanging them at your bank or credit union when you return, but be aware that some banks may not accept foreign currency.
Explore Other Currency Exchange Options in Your Destination Country:
In addition to airport exchanges, explore currency exchange services within the cities or towns you are visiting. Local exchange offices or bureaus may offer more competitive rates and lower fees than airport exchanges. However, be cautious of unauthorized dealers or agents in local markets near airports, as they may try to take advantage of unsuspecting travellers.
By considering these alternatives, you can often find more cost-effective ways to manage your currency exchange needs while travelling, ultimately saving you money on fees and unfavourable exchange rates.
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Using cards abroad
Types of Cards
There are a few types of cards that can be used for international transactions:
- Credit Cards: These offer Section 75 protection, but they require a full credit check. They provide interest-free spending if you repay in full each month.
- Debit Cards: These typically offer less protection than credit cards, but they may be easier to obtain, sometimes only requiring an ID check.
- Travel Cards: These are specifically designed for overseas spending and ATM withdrawals without additional fees. They often offer excellent exchange rates and additional perks.
Exchange Rates and Fees
When using a card abroad, it's important to understand exchange rates and any associated fees:
- The exchange rate you receive is the rate at the time your transaction is processed, which may differ from the rate when the transaction was made.
- Some cards charge a foreign transaction fee, typically a percentage of the transaction amount. This can add up, especially with multiple transactions.
- ATM fees may apply when withdrawing cash abroad. These can be charged by the ATM itself or your card issuer, or both.
- Some cards may also have monthly fees or require a minimum balance.
Best Practices
To make the most of using cards abroad, consider the following:
- Compare different card options and their associated fees, exchange rates, and benefits. Tools like TravelMoneyMax can help find the cheapest rates.
- Check with your bank about any international fees and how to avoid them. Some banks offer accounts with no foreign transaction fees or provide travel money before your trip.
- Be mindful of credit score impacts. Cash withdrawals on credit cards can be recorded and may affect your credit score, especially if you have a history of poor credit.
- Always repay your balance in full each month to avoid interest charges.
- Monitor your transactions regularly to detect any fraudulent activity.
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Exchanging currency before travelling
Exchanging currency at the airport is convenient, as kiosks and counters are easily accessible within the terminals. However, airport currency exchange counters generally offer the worst exchange rates. Therefore, it is advisable to exchange currency before arriving at the airport.
One way to do this is by ordering foreign currency from your bank before you travel. Many major banks allow you to access their currency exchange webpage through their website or mobile app, where you can enter the currency you need, the desired amount, and select the pickup method. While you can generally expect a solid exchange rate, it is good to check a trusted source, such as Reuters or the International Monetary Fund, to ensure you are getting a fair deal. For example, at Bank of America, the exchange rates in January 2024 averaged roughly 6% more than the IMF rates, whereas airport currency exchanges charged more than double that rate. Additionally, some banks may refund ATM fees, so it may be beneficial to make smaller, necessary cash withdrawals during your trip.
If you are in a hurry and need to exchange currency at the airport, Currency Exchange International provides foreign currency exchange services at various airports, including MSP Airport and Charlotte Douglas International Airport. At MSP Airport, Currency Exchange International has locations in Terminal 1 (both pre and post-security) and Terminal 2 (post-security). These kiosks are open at varying times, from 5:30 a.m. to noon, or 11 a.m. to 7 p.m., depending on the location. Washington Dulles International Airport also has multiple International Currency Exchange locations, including one in the International Arrivals Building near the exit, opposite the baggage recheck counters.
It is worth noting that many places still require cash, so it is beneficial to have some local currency on hand. However, if you have leftover foreign currency after your trip, it may not be worth exchanging it back, especially if returning to a place like the USA, where forex is expensive and hard to find. Instead, you could spend it at the airport, donate it, or save it for a future trip. Alternatively, you could use it for souvenirs, such as Starbucks mugs or local wine.
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Exchanging leftover foreign currency
It is advisable to plan ahead and exchange currency before travelling or at the beginning of your trip. Ordering currency from your bank before you travel is a good option, as banks usually offer better exchange rates and lower fees than airport kiosks. You can also use your bank's ATMs overseas or foreign ATMs to withdraw cash in the local currency, avoiding high exchange fees.
If you have leftover foreign currency after your trip, consider saving it for future travels or exchanging it at your local bank or credit union. Some travellers also suggest using the remaining cash for donations, souvenirs, or airport purchases to avoid exchange fees.
Additionally, it is recommended to carry a mix of cash and cards when travelling to manage your finances effectively. Carrying only cards or using a credit card for cash withdrawals can incur high fees and poor exchange rates.
- Compare exchange rates with various dealers, on different portals, and on separate dates to find the best rate.
- Understand all the fees involved, including service fees and shipping fees, to make an informed decision.
- Consider ordering foreign currency from your bank, as they often provide good exchange rates and may offer free shipping for certain amounts.
- If you have leftover foreign currency, your bank or credit union may exchange it for your home currency when you return.
In summary, exchanging leftover foreign currency at the airport is not recommended due to unfavourable rates and fees. Planning ahead and using banks or ATMs for currency exchange is generally a more cost-effective strategy.
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Frequently asked questions
Yes, many airports have currency exchange services, such as Currency Exchange International at MSP Airport, and Washington Dulles International Airport, which has multiple International Currency Exchange locations.
Exchanging currency at the airport is convenient, as kiosks and counters are located within terminals, making them easily accessible just before departure or immediately after landing.
Airport currency exchanges generally offer poor exchange rates, so it is usually cheaper to exchange money elsewhere.
You can order foreign currency from your bank before you travel, or withdraw money from an ATM when you arrive at your destination.
Yes, you may not need to use cash at all during your trip. Credit cards and phone payments are increasingly accepted internationally, and you may be able to pay in US dollars in certain countries.
