Ruth Haines
Chicago O'Hare International Airport offers currency exchange services, but it is not the most cost-effective option. Airport currency exchange services typically have higher fees and less favourable exchange rates due to a lack of competition. If you need to exchange money, it is recommended to use a credit card with no foreign transaction fees, withdraw cash from a trusted ATM, or use a service like Wise, which offers a multi-currency card with mid-market exchange rates and low fees. Planning ahead and comparing exchange rates can help you get the best value for your money when travelling to Chicago.
| Characteristics | Values |
|---|---|
| Currency exchange available at Chicago Airport | Yes |
| Recommended | No, due to high fees and unfavourable exchange rates |
| Alternative options | Using a credit card with zero foreign transaction fees, withdrawing from a local ATM, or from your bank in advance |
| Number of currency exchange locations at Chicago Airport | 4 |
| Currency exchange providers at Chicago Airport | CXI, Seaway Bank and Trust Company |
| Currency exchange providers in Chicago | Citibank, Bank of America, Wells Fargo, PNC, Clark Diversey, Loop Currency Exchange, Currency Exchange International, Currency Exchange franchise, Travelex |
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What You'll Learn
Foreign exchange kiosks at Chicago Airport
Chicago O'Hare International Airport has foreign exchange kiosks in every terminal, run by the Seaway Bank and Trust Company. While it is convenient to exchange money at the airport, it is not usually a great idea as the exchange rates can be less favourable than those in the city, where competition drives the cost down.
If you are exchanging larger amounts of money at the airport, it is a good idea to call the exchange service in advance to make sure they have enough money. Not all exchange desks stock all currencies, and the cash they keep in stock can be limited.
There are a few options for exchanging money at Chicago O'Hare International Airport. The first is an over-the-counter service, where you can exchange money on the spot by visiting a currency exchange location and paying in cash or with a card for your foreign currency. This is a fast and convenient choice if the exchange office has the currency you need in stock, but it can be pretty expensive due to high fees and hiked-up exchange rates.
Another option is to use an ATM to withdraw cash in the local currency upon arrival at the airport. ATMs are commonly available and can offer a fair exchange rate. Withdrawing cash from a trusted ATM operator will usually give you a fairer rate than you'll get in a currency exchange office.
If you are a Citibank customer, using an ATM can be a great way to get US Dollars for lower fees. Citibank offers its customers free withdrawals from its worldwide network of ATMs, and it has several branches across Chicago. The Bank of America also has around 50 ATMs in Chicago and is part of the Global ATM Alliance, offering fee-free withdrawals from its ATMs to customers of other banks in the network.
If you are looking for the best exchange rates, it is recommended to monitor the rates before your trip and book dollars in advance when the exchange rate is in your favour. You can also sign up for exchange rate alerts to keep track of the rate and receive notifications when it changes.
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Using an ATM at the airport
When using an ATM at the airport, it is important to consider the exchange rates and any associated fees. While ATMs can offer a fair exchange rate, it is recommended to use a trusted ATM operator and compare the offered rate to the mid-market rate to ensure you get the best deal. Additionally, some ATMs may ask if you prefer to be charged in your home currency, which could result in an unfavourable exchange rate. It is generally advisable to choose to perform the transaction in the local currency, such as US Dollars.
If you are looking to exchange a large amount of money, it is worth calling the airport in advance to ensure they have sufficient cash on hand. Carrying large amounts of cash also requires extra vigilance, as travellers are often targets for petty theft at airports.
For Chicago Midway Airport (MDW), Seaway National Bank offers currency exchange services at Concourse A (Gate A-1). They offer foreign exchange for over 200 currencies and are open on Mondays, Thursdays, Fridays, and Saturdays from 7:00 AM to 6:00 PM, and on Tuesdays, Wednesdays, and Sundays from 7:00 AM to 1:00 PM.
In addition to ATMs, there are other options for obtaining local currency at Chicago's airports. These include over-the-counter services at currency exchange locations and pre-ordering currency online for airport collection, which can offer better exchange rates. However, exchanging money at airports may result in higher costs due to a lack of competition.
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Online pre-order for airport collection
If you're looking to exchange currency at Chicago O'Hare International Airport, it's worth noting that airport currency exchange services often have less competitive rates due to a lack of competition. As such, it's a good idea to explore other options, such as online pre-ordering for airport collection, which can offer better rates and convenience.
One option for online pre-ordering is to use a service like CXI, which allows customers to order foreign currency online and collect it at the airport. This guarantees that you'll get the currency you need and may offer a better exchange rate than on-the-spot exchanges. Additionally, you can use a multi-currency card from providers like Wise (formerly TransferWise), which offers conversions at the mid-market exchange rate without markups or hidden fees.
Another option is to use a trusted ATM operator, which often provides fairer rates than currency exchange offices. Citibank, for example, offers its customers free withdrawals from its worldwide network of ATMs, including several branches across Chicago. The Bank of America is also part of the Global ATM Alliance and offers fee-free withdrawals from its 50 ATMs in Chicago to customers of other banks in the network.
If you prefer to exchange currency at the airport, there are currency exchange kiosks in every terminal at Chicago O'Hare International Airport, run by the Seaway Bank and Trust Company. However, it's recommended to call ahead for large exchanges to ensure they have enough cash on hand, as stock can be limited. Additionally, be cautious when carrying large amounts of cash at the airport, as travellers are often targets for petty theft.
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Over-the-counter service at the airport
Chicago O'Hare International Airport has foreign exchange kiosks in every terminal, run by the Seaway Bank and Trust Company. This over-the-counter service is a fast and convenient way to exchange money on the spot by visiting a currency exchange location and paying in cash or with a card. However, it is generally advised to avoid exchanging money at the airport as the exchange rates available can be unfavourable compared to those in the city, where competition drives the cost down.
If you plan to exchange larger amounts of money at the airport, it is advisable to call the exchange service ahead of time to ensure they have sufficient cash on hand. Not all exchange desks stock all currencies, and their cash supply can be limited. Additionally, be cautious when carrying large sums of money through the airport, as travellers are often targeted by petty thieves due to their distraction and unfamiliarity with the location.
While over-the-counter services at the airport offer convenience, they may also charge high fees and have inflated exchange rates. These services are aware that their kiosks are often a traveller's first or last option, so they may add extra charges like excessive commissions. Therefore, it is recommended to explore other options for exchanging currency in Chicago to obtain a better deal.
Instead of using airport kiosks, consider withdrawing cash from a trusted ATM operator, which typically offers fairer rates than currency exchange offices. You can also use a credit card with zero foreign transaction fees or withdraw money from your bank in advance. If you have access to a USD account in Chicago, you can use a service like Wise to transfer money ahead of time and take advantage of their mid-market exchange rate without incurring international banking fees.
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Currency exchange in the city
If you're looking to exchange currency in Chicago, you may want to avoid the airport kiosks, as they don't offer the best rates. Instead, head to a currency exchange in the city, where competition drives the cost down.
ATMs
Using a trusted ATM operator will usually give you a fairer rate than you'll get in a currency exchange office. Citibank, for example, offers its customers free withdrawals from its worldwide network of ATMs. Bank of America is also part of the Global ATM Alliance and offers fee-free withdrawals from its ATMs to customers of other banks in the network. When using an ATM, remember to always choose to perform the transaction in US Dollars. Some ATMs will ask if you'd prefer to be charged in your home currency, but this will usually result in an unfavourable exchange rate.
Banks
Most international banks in Chicago will exchange US dollars for foreign currency, but you'll need to have an account with them or a credit card issued by them. Citibank, Bank of America, Wells Fargo, and PNC are a few banks that offer currency exchange services. However, if you're not a US resident, you may be charged steep transaction fees as a non-account holder.
Currency Exchange Companies
There are several currency exchange companies in Chicago that offer competitive rates, including Clark Diversey, Loop Currency Exchange, and Currency Exchange International. However, be aware that if a company claims not to charge fees or take a commission, they may build these costs into the exchange rate.
Credit Cards
Using a credit card with zero foreign transaction fees is also an option for getting cash in Chicago. You can also use a multi-currency card from Wise, which provides conversions at the mid-market exchange rate without any markups or hidden fees.
Pre-Ordering
If you have time before your trip, you can pre-order your foreign currency online for airport collection from providers such as CXI. This can get you a better exchange rate compared to on-the-spot exchanges and guarantees that the exchange office will have the currency you need.
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Frequently asked questions
Yes, Chicago O'Hare International Airport has foreign exchange kiosks in every terminal, as well as ATMs.
You can exchange money on the spot at a currency exchange location, by paying in cash or with a card. You can also pre-order your foreign currency online for airport collection, or withdraw cash in the local currency from an ATM.
Currency exchange services at the airport do not usually have a lot of competition, so the costs of switching your funds can be high. Exchange rates can be less favourable than those you'd get in a city exchange, and fees might be added to the available exchange rate.
You can use a credit card with zero foreign transaction fees, or withdraw money from a local ATM or your bank in advance. You can also exchange currency at various banks and money exchange locations in Chicago.
If you're planning to exchange larger amounts of money at the airport, it's a good idea to call the exchange service in advance to make sure they have enough money. Not all exchange desks stock all currencies and may have limited cash.
