Roberta Aguirre
George Bush Intercontinental Airport, also known as Houston Airport or IAH, is the 15th busiest airport in the US, serving over 40 million passengers annually. If you're travelling through IAH, you may need to exchange currency. While the airport offers currency exchange services, they may charge high fees and have unfavourable exchange rates due to a lack of competition. Alternatives include ordering foreign currency online for airport collection, using ATMs, or utilising services like Wise for low-cost international transfers. However, it's always a good idea to research exchange rates and fees beforehand and plan your currency exchange accordingly.
| Characteristics | Values |
|---|---|
| Currency exchange availability | Yes |
| Currency exchange options | Over-the-counter service, online pre-order, ATMs |
| Currency exchange providers | Travelex (ceased operations in 2021), CXI, Chase Bank |
| ATM availability | 10 ATMs available 24/7 throughout the airport |
| Alternative options | Using Wise for low-cost international transfers, withdrawing cash from ATMs at your destination |
| Tips | Compare exchange rates and fees, work out a budget and change only what you need, avoid Dynamic Currency Conversion (DCC) |
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What You'll Learn
Currency exchange options at IAH
Currency exchange at airports is often more expensive than expected due to high fees and unfavourable exchange rates. If you're looking to exchange currency at George Bush Intercontinental Airport, Houston (IAH), there are a few options available to you, each with its own pros and cons.
Over-the-Counter Service
You can exchange money on the spot by visiting a currency exchange location and paying in cash or with a card. This option is fast and convenient, especially if you need a specific currency quickly. However, it can be pretty expensive due to the high fees and exchange rates. At IAH, Travelex used to provide this service at several locations, including Terminal E12, Gate E24, and Gate E1 (Shop Around), but as of 2021, they have ceased operations in the United States.
Online Pre-Order
Some providers, such as CXI, allow customers to order their foreign currency online and then collect it at the airport. This method can often secure you a better exchange rate compared to on-the-spot exchanges and ensures that the exchange office has the currency you need.
ATMs
Using an ATM to withdraw cash in the local currency upon arrival at your destination is a convenient option, as ATMs are commonly available at airports. This option typically offers a fair exchange rate, but be sure to avoid Dynamic Currency Conversion (DCC), which can result in higher fees and a less favourable exchange rate. IAH offers convenient access to Chase Bank ATMs, with 10 machines located throughout the airport, including near gates at Terminals A, B, C, D, and E.
Alternative Options
If you have more time before your trip, consider using a service like Wise, which provides low-cost international transfers at the real mid-market exchange rate. You can also get a Wise Multi-Currency Card linked to a borderless account, allowing you to hold multiple currencies at once. Additionally, if you have friends or family in the US, you can send money to their US bank account and then withdraw it from ATMs without incurring additional fees.
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Alternatives to exchanging currency at the airport
Exchanging currency at the airport is convenient, but it can also be costly due to high fees and unfavourable exchange rates. Here are some alternatives to consider:
Order Foreign Currency from Your Bank:
Ordering currency from your bank before travelling is often a better option than using airport exchange services. Most banks allow you to order foreign currency, which you can pick up at a local branch or have shipped to you. Banks typically offer better exchange rates than airports, and you can compare rates using sources like XE Exchange or Reuters. Keep in mind that banks may charge fees for currency orders, such as shipping or service fees, which you should factor into your decision.
Use ATMs:
Using ATMs to withdraw cash in the local currency upon arrival is a convenient alternative. Airport ATMs can offer fair exchange rates, but be cautious of dynamic currency conversion (DCC), which may result in higher fees. If your bank has ATMs in your destination country, consider using those to avoid out-of-network ATM fees. Additionally, if you have a credit card with no foreign transaction fees, consider using it for purchases or ATM withdrawals to get local currency.
Online Currency Exchange Services:
Online currency exchange services, such as Wise (formerly known as TransferWise), offer low-cost international transfers using the mid-market exchange rate. With Wise, you can send money to a recipient with a US bank account, and they can withdraw it from fee-free ATMs upon arrival. Alternatively, you can obtain a Wise Multi-Currency Card linked to a borderless account, allowing you to hold multiple currencies simultaneously.
Pre-Order Currency Online for Airport Collection:
Some providers, like CXI, allow customers to order foreign currency online and collect it at the airport. This option can offer better exchange rates than on-the-spot exchanges and ensures the availability of the desired currency.
Visit a Local Bank Branch:
If you have time, consider visiting a bank branch near the airport to exchange currency. For example, the Alliant Credit Union's Houston Airport Branch is located just 1.2 miles from IAH and offers currency exchange services during business hours.
Plan and Budget:
Whenever possible, it's advisable to plan your currency needs in advance and exchange only what you need. Exchanging leftover foreign currency back into your local currency may incur additional fees. Additionally, be cautious when paying with a credit or debit card, as merchants may offer to convert your purchase into your home currency at unfavourable rates.
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Tips for exchanging currency while travelling
Currency exchange at the airport is convenient, but it can also be expensive due to high fees and unfavourable exchange rates. Here are some tips for exchanging currency while travelling:
Research exchange rates and fees
Before your trip, research the exchange rates and fees offered by different providers. Compare the rates and fees at your destination airport with those offered by your bank or other financial institutions. Websites like Reuters or the International Monetary Fund provide current exchange rates, helping you to assess whether you're getting a fair deal.
Order currency in advance
Ordering currency in advance from your bank or a service like Wise is often a better option than using airport exchange kiosks. You can also use a service like Western Union to send money to one of their locations near where you'll be staying, and then pick it up in the local currency.
Use ATMs
ATMs often provide a fair exchange rate and are a convenient way to access local currency upon arrival at your destination. Avoid Dynamic Currency Conversion (DCC), where you're charged in your home currency instead of the local one, as this usually results in a poorer exchange rate and higher fees.
Be aware of hidden costs
When exchanging currency, there are often hidden costs involved. For example, some banks charge a service fee for transactions under a certain amount, or there may be shipping fees for delivering the cash to you. Understand all the fees involved to make an informed decision.
Shop around
If you have time before your trip, shop around for the best exchange rate. Exchanging some of your money before you leave home gives you this opportunity, and you won't have to worry about finding a bank or currency exchange service as soon as you arrive.
Split your cash
For security, it's a good idea to split your cash across several secure places on your person and in your carry-on luggage. Use a money belt worn under your clothing instead of a wallet, which can make you a target for pickpockets.
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Using ATMs at IAH
George Bush Intercontinental Airport, also known as IAH, offers convenient access to Chase Bank ATMs. There are 10 ATMs located throughout the airport, ensuring easy accessibility for all passengers. These ATMs can be found in various areas, including the ticketing lobby, food court area, gate concourse, baggage claim, and near different gates at Terminals A, B, C, D, and E. The ATMs are available 24 hours a day, seven days a week, and offer services such as audio assistance and cash dispensing.
When using an ATM at IAH, it is important to be aware of any fees that may apply. Depending on your bank's policy, you may be charged a fee for using an out-of-network ATM. Additionally, if you are withdrawing cash in a foreign currency, you may be offered Dynamic Currency Conversion (DCC). This is where you are asked if you prefer to be charged in your home currency instead of the local currency. While this may seem convenient, it often results in a less favourable exchange rate and higher fees. Therefore, it is generally recommended to withdraw cash in the local currency to avoid the additional costs associated with DCC.
At IAH, you can find ATMs at the following locations:
- Terminal A: Near gates A7 and A17
- Terminal B: Near gate B1 and near the security checkpoint
- Terminal C: Availability of ATMs is unknown
- Terminal D: Availability of ATMs is unknown
- Terminal E: Availability of ATMs is unknown
In addition to using ATMs, passengers at IAH have other options for accessing cash. Currency exchange services are available in Terminals B, C, D, and E. However, airport currency exchange services typically have higher costs due to a lack of competition. Therefore, using an ATM to withdraw cash in the local currency is often a more cost-effective option. Additionally, if you have a US bank account or know someone who does, you can use a service like Wise to transfer money and withdraw it from fee-free ATMs upon arrival.
By considering the locations of the ATMs, being mindful of potential fees, and exploring alternative options, passengers at IAH can effectively utilise ATMs to access cash during their travels.
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Exchanging currency at IAH: Travelex
Currency exchange services at George Bush Intercontinental Airport (IAH) are provided by Travelex. There are several Travelex locations within the airport, including Terminal E12, Gate E24, and Gate E1 (Shop Around). The operating hours for these currency exchange locations vary, but they are generally open from early morning until late evening.
You can either go to one of the desks for an on-the-spot exchange or order in advance for collection. If you're exchanging a large amount or a rare currency, it's a good idea to order at least a day before you fly to ensure availability. Ordering in advance often gets you a better exchange rate, too.
However, it's important to note that airport currency exchange services typically have high fees and unfavourable exchange rates due to a lack of competition. As such, it's recommended to compare the fees and rates with alternatives, such as using an ATM at your destination or ordering foreign currency online for airport collection.
In addition to Travelex, there are other options for exchanging currency at IAH. These include using over-the-counter services, online pre-order services, and ATMs located throughout the airport.
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Frequently asked questions
Yes, George Bush Intercontinental Airport, Houston, also known as IAH, has currency exchange services available.
There are exchange desks located in Terminals B, C, D and E. Travelex used to provide currency exchange services at the airport, with locations at Terminal E12, Gate E24, and Gate E1 (Shop Around). However, as of 2021, Travelex has ceased operations in the United States and Canada.
You can use an ATM at the airport to withdraw cash in the local currency. There are also Chase Bank ATMs available 24/7 throughout the airport. If you have a US bank account, you can use Wise to get your spending money with low-cost international transfers.
