Roberta Aguirre
Exchanging currency at the airport is convenient, but it may not be the best option. While currency exchange kiosks and counters are easily accessible within airport terminals, they often offer poor exchange rates and charge high fees. It is recommended to research and compare exchange rates before deciding where to exchange currency. Ordering foreign currency from your bank before travelling or using ATMs that provide decent exchange rates without additional fees are generally more cost-effective options.
| 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 | Currency exchange counters at the airport generally offer the worst exchange rates, and there may be additional fees. |
| Alternatives | Ordering currency from your bank before travelling is almost always better than using airport currency exchange. Using an ATM or credit card can also provide a better exchange rate. |
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What You'll Learn
Airport currency exchange rates
Currency exchange counters at the airport generally offer poor exchange rates. However, if you need cash urgently upon arrival, you can exchange currency at the airport. Washington Dulles International Airport, for example, has multiple International Currency Exchange locations.
It is advisable to research and compare exchange rates before travelling to get the best deal. Currency exchange rates at the airport may vary from those offered by other providers, and additional fees may apply for counter or phone orders. For instance, Ice USA's exchange rates at JFK International Airport in New York and Boston International Airport as of June and May 2025, respectively, were different from the online exclusive rates advertised on their website.
To avoid unfavourable exchange rates and fees, it is recommended to order foreign currency from your bank before travelling. Many banks allow you to order currency through their website, mobile app, or by phone, specifying the desired currency and amount. While banks generally offer competitive exchange rates, it is advisable to use trusted sources like Reuters or the International Monetary Fund to ensure you get a fair deal. Additionally, be mindful of any fees, such as service or shipping charges, which may vary depending on your account type and the bank's policies.
If it is too late to order currency through your bank, consider using ATMs abroad that are part of your bank's network to eliminate out-of-network ATM fees. Alternatively, you can use a credit or debit card with no foreign transaction fees to withdraw cash from any ATM and let your bank handle the conversion at the current day's rate.
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Ordering currency from your bank
It's important to note that there may be minimum and maximum limits to the amount of foreign currency you can order. For example, a common minimum amount is $100 or $200, while the maximum is often $10,000 within a 30-day period. Additionally, be mindful of any fees involved, such as service fees for transactions under a certain amount or shipping fees. Some banks may waive certain fees for premium account holders.
To ensure you get a fair exchange rate, it's recommended to check current rates using trusted sources like Reuters or the International Monetary Fund. Ordering currency from your bank before your trip is generally considered a better option than using airport currency exchange services, as the latter often offer unfavourable rates and high fees.
When ordering currency from your bank, you may also have the option to purchase traveller's checks. However, keep in mind that these may come with additional fees and may not offer the best exchange rates.
Overall, ordering currency from your bank can be a straightforward and cost-effective way to obtain foreign currency before your trip, allowing you to avoid the typically high fees and unfavourable exchange rates of airport currency exchanges.
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ATM withdrawals
While it is possible to exchange currency at the airport, it is generally advised against due to the high fees and poor exchange rates. A better option is to use your bank card to withdraw money from an ATM at your destination.
ATMs can offer some of the best currency exchange rates available, but it is important to be aware of potential fees. When using a bank-issued ATM card overseas, you will likely pay a flat fee for using an ATM network, as well as a percentage of the value of the cash withdrawn. Some ATMs may also add a surcharge for using the machine, which is more common with smaller banks and independently owned ATMs.
To avoid excessive fees, it is recommended to use ATMs at major banks or post offices, and to stick with your own bank or card network's deal. You can also use online tools to find out the current exchange rate and calculate whether the ATM is providing a fair rate. Withdrawing larger amounts of cash at once can also help to reduce the impact of fees.
Before your trip, it is a good idea to check with your bank to see if they have any partnerships with banks or ATM operators in your destination country, as this may allow you to reduce or waive international withdrawal fees. Additionally, consider using a non-bank alternative, such as a Wise account, which has a linked low-cost debit card that can help reduce costs when spending overseas.
By planning your withdrawals and doing some research on potential fees, you can make ATM withdrawals a convenient and economical way to access local currency during your travels.
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Credit card usage abroad
Credit cards can be a convenient way to pay for things when you're abroad, but there are some things to keep in mind to avoid unnecessary fees and stay safe.
Firstly, check with your credit card company to see if your card charges a foreign transaction fee. These fees can add up quickly, typically ranging from 2% to 3% on every international purchase. If your card does charge these fees, you may want to consider applying for a new card that doesn't. It's also a good idea to notify your credit card company of your travel plans, as this can help prevent your transactions from being blocked.
When using your credit card abroad, try to pay for purchases in the local currency rather than in US dollars. This will help you avoid unfavourable exchange rates. Additionally, be mindful of the types of purchases you make with your credit card. It's usually best to reserve your credit card for more expensive purchases, such as restaurant meals or hotel stays, and use cash for smaller purchases like coffee or snacks.
To ensure a safe trip, make sure your credit card is not set to expire while you're away, and consider bringing another form of payment as a backup, such as a debit card or an additional credit card. Keep your bank's overseas contact number handy in case of emergencies, such as losing your card. Setting up online and mobile banking can also give you constant access to your account, allowing you to monitor your spending and cancel or block your card if needed.
Lastly, be aware of the potential for hidden costs and fees when using your credit card abroad. Withdrawing cash from ATMs, for example, may incur additional charges. If you need cash, it's generally recommended to withdraw local currency from an ATM using your debit card or to exchange currency with your bank before you leave.
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Currency exchange locations
Currency exchange counters are conveniently located within airport terminals, making them easily accessible to travellers. However, airport currency exchange services typically offer unfavourable exchange rates and charge high fees, resulting in a costly transaction for travellers.
If you're looking for specific airport currency exchange locations, Washington Dulles International Airport has multiple International Currency Exchange locations to assist travellers. Raleigh-Durham International Airport also has a Currency Exchange International location in Terminal 2's ticketing area.
To avoid the high fees and poor exchange rates at airports, it is recommended to explore other options. Ordering foreign currency from your bank before travelling is often a better choice, as it may provide more competitive rates and lower fees. Many banks allow you to order currency through their website or mobile app, making the process convenient.
Additionally, when travelling abroad, consider using ATMs to withdraw local currency using your credit or debit card. ATMs often provide decent exchange rates and can be found in various locations, including at the airport and in the city. However, be mindful of ATM fees, especially when using out-of-network machines, as these can add up quickly.
In summary, while airport currency exchange services offer convenience, they may not be the most cost-effective option. By planning ahead and utilising alternative methods, such as ordering currency from your bank or using ATMs, you can often get better exchange rates and avoid excessive fees.
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Frequently asked questions
Yes, you can exchange currency at the airport. There are currency exchange kiosks and counters conveniently located within airport terminals.
Exchanging currency at the airport is very convenient, especially if you need to get some cash before your flight departs or as soon as you land.
Airport currency exchanges generally offer poor exchange rates and high fees.
You can exchange currency at a bank, either in the country you live or in the country you are visiting. You can also withdraw cash from an ATM, which often provides a better exchange rate than airport currency exchanges.
To get the best exchange rate, do your research before your trip and find a currency exchange in your city or the city you are visiting that offers a good rate.
