Jazmin Li
Chicago O'Hare International Airport has currency exchange kiosks in every terminal, and you can exchange money on the spot by visiting a currency exchange location and paying in cash or with a card. However, it is recommended that you avoid exchanging money at the airport as the exchange rates available can be less favourable than those you’d get in a city exchange where competition drives the cost down. Instead, you could consider using a multi-currency card from Wise for your travels, which provides conversions at the mid-market exchange rate without any markups or hidden fees. Citibank and Bank of America also have ATMs all over Chicago and offer fee-free withdrawals, so using their ATMs would be one of the best ways to withdraw money in Chicago.
| Characteristics | Values |
|---|---|
| Currency exchange options at Chicago O'Hare International Airport | Over-the-counter service, online pre-order, and ATMs |
| Recommended? | No, due to high fees and unfavourable exchange rates |
| Alternatives | Foreign exchange companies in Chicago, Citibank and Bank of America ATMs, TransferWise (Wise) multi-currency debit card, Revolut, Currencylive.com |
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What You'll Learn
Currency exchange kiosks at Chicago O'Hare International Airport
Chicago O'Hare International Airport has currency exchange kiosks in every terminal, run by the Seaway Bank and Trust Company. While convenient, airport currency exchange kiosks are not known for offering the best rates. They tend to charge higher fees and may not stock all currencies.
If you are looking to exchange currency at Chicago O'Hare International Airport, it is recommended that you call ahead to confirm that the kiosk has the currency you need. You should also be aware of the potential for additional charges and commissions, which can increase the overall cost of exchanging your money.
There are four currency exchange locations to choose from at Chicago O'Hare International Airport. These kiosks aim to provide a worry-free foreign currency service for travellers, buying and selling more than 80 foreign currencies.
While the airport kiosks offer a fast and convenient service, it is worth noting that you may find better exchange rates and deals in other locations in Chicago. Foreign exchange companies in the city often provide guaranteed rates and are considered more reliable.
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Foreign exchange companies in Chicago
Foreign exchange kiosks are available at Chicago's O'Hare International Airport, run by the Seaway Bank and Trust Company. However, exchanging money at the airport is not recommended, as fees are typically high and exchange rates are unfavourable.
There are several foreign exchange companies in Chicago that offer better rates and reliability. These include:
- Currency Exchange International: With over 100 company-owned retail outlets open seven days a week, they claim to provide the best rates and offer a ''Best Rate Guarantee' service. They deal only with paper currency and do not accept coins.
- Clark Diversey: One of the largest currency exchange dealers in Northern Chicago, they are open until midnight and offer competitive rates. They also only accept paper currency.
- Loop Currency Exchange: They offer foreign exchange services at reasonable rates and have friendly, experienced staff.
- Travelex: A well-known international foreign exchange company.
- Currency Exchange: A franchise with neighbourhood kiosks located throughout Chicago.
Additionally, some international banks in Chicago offer currency exchange services, such as Citibank and Bank of America, although they may require you to have an account or credit card with them. Other banks that may provide currency exchange include PNC, Fifth Third Bank, Chase Bank, National City Bank, and Wamu Bank. It is recommended to compare the offered exchange rates with the mid-market rate to ensure you get a fair deal.
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Using a multi-currency card from Wise
While it is possible to exchange currency at Chicago's O'Hare International Airport, sources suggest avoiding this option due to high fees and unfavourable exchange rates.
Instead, consider using a Wise Multi-Currency Card, which can be used in most cases exactly like any other debit card, with low currency conversion fees.
Here's how it works:
- Activation: Before travelling, activate your Wise Multi-Currency Card and set a PIN. Log into your Wise account online or via the app, enter the six-digit code on the back of your card, and you're good to go.
- Top-up: Fund your Wise account with the amount you expect to spend. You can convert the money to the desired currency within Wise or use the auto-convert feature, which instantly switches your balance to the required currency at the lowest possible fees.
- Spend: Use your Wise Multi-Currency Card for in-person purchases and cash withdrawals just like you would with any other card. You can also use it with mobile wallets like Apple Pay and make contactless payments internationally.
- Track: Monitor your spending with instant transaction notifications in the Wise app. You can also use the app to freeze and unfreeze your card for security.
- Dynamic Currency Conversion (DCC): When travelling, you might be asked if you want to pay in USD or the local currency. DCC lets you see the equivalent of your payment in USD, but you may be charged higher fees and get a poor exchange rate. It's generally better to pay in the local currency to avoid unnecessary costs.
- Withdrawals: If you need to withdraw cash, remember that some international banks, like Citibank and Bank of America, offer fee-free withdrawals from their ATMs worldwide. When using an ATM, always choose to perform the transaction in the local currency to avoid unfavourable exchange rates.
By following these steps, you can make the most of your Wise Multi-Currency Card and navigate currency exchanges in Chicago like a pro!
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Withdrawing cash from an ATM
While it is possible to withdraw cash from an ATM at Chicago's O'Hare International Airport, it is not advisable to exchange currency at the airport. The airport's foreign exchange kiosks are convenient, but they do not offer the best rates and charge additional fees. Instead, it is recommended to use an ATM from a bank that offers free withdrawal services to its customers worldwide, such as Citibank or Bank of America, which have ATMs all over Chicago. These banks are part of the Global ATM Alliance, offering fee-free withdrawals to customers of other banks in the network.
If you are a Citibank customer, using an ATM can be a great way to obtain US Dollars for lower fees. When using an ATM, remember to always perform the transaction in US Dollars. Some ATMs will ask if you prefer to be charged in your home currency. By agreeing, the ATM will likely provide an unfavourable exchange rate.
Bank of America has a walk-up ATM in Terminal 2 Ticketing of Chicago O'Hare International Airport. This ATM provides instructions in several languages, including English, Spanish, Chinese, Korean, French, Russian, and Portuguese. It is a cardless ATM, allowing transactions with a tap-to-pay card or smartphone.
Additionally, Chicago Midway Airport (MDW) also has ATMs, banking services, and currency exchange options available. Seaway National Bank at Concourse A (Gate A-1) provides currency exchange services for over 200 currencies and accepts major international debit/credit cards.
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Citibank and Bank of America branches in Chicago
If you're looking to exchange currency at Chicago Airport, you may want to consider using an ATM to avoid high fees and poor exchange rates at kiosks. Citibank and Bank of America both have a wide network of ATMs in Chicago, and you can use these to withdraw US Dollars directly, avoiding the need to exchange euros beforehand.
Citibank has 22 branches in Chicago, Illinois, offering a worldwide network of ATMs with free withdrawals for its customers. Bank of America 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.
Citibank has a broad network of branches and ATMs in Chicago, with 22 locations across the city. These branches are spread out across the city, with no other branches within a 10-mile radius of the city centre. While specific addresses, hours of operation, and contact information for each branch can be found online, here are some general insights:
- Citibank ATMs offer their customers free withdrawals and are accessible 24/7, providing a convenient way to obtain US Dollars directly, especially if you already bank with Citibank.
- Citibank branches in Chicago provide a range of banking services, including deposits, withdrawals, and other financial transactions.
- For specific inquiries or assistance, customers can contact the individual branches using the information provided online.
Now, for some details about Bank of America branches in Chicago:
Bank of America has a significant presence in Chicago, with numerous branches and ATMs located throughout the city. While the exact number of branches is unclear, there are a few notable locations:
- Chicago Ridge: This location features a drive-thru ATM and a walk-up ATM, offering extended hours and access to a full range of banking services. It also provides instructions in multiple languages, including English, Spanish, and Chinese.
- Gold Coast District: Located in the heart of Chicago's upscale shopping and dining district, this full-service branch offers convenient ATM access and efficient tellers.
- Additional Branches: Bank of America has other branches scattered across Chicago, each offering various services, including mobile banking options, financial guidance, and specialist advice.
Remember that when using an ATM, it's best to choose to perform the transaction in US Dollars to avoid unfavourable exchange rates.
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Frequently asked questions
Yes, Chicago O'Hare International Airport (ORD) has currency exchange kiosks in every terminal, as well as ATMs where you can withdraw cash in the local currency. However, it is recommended that you avoid exchanging money at the airport as the exchange rates are often less favourable than those in the city, where competition drives the cost down.
If you are looking for alternative options to exchange your money, you can consider the following:
- Using a multi-currency card from Wise for your travels, which provides conversions at the mid-market exchange rate without any markups or hidden fees.
- Using ATMs in Chicago to withdraw cash in the local currency. Banks like Citibank and Bank of America have ATMs all over Chicago and offer fee-free withdrawals.
- Using an online pre-order service, such as CXI, to order your foreign currency online and collect it at the airport.
It is recommended that you compare the offered exchange rate against the mid-market rate to determine how good of a deal you are getting. Services will often add their commission into their offered exchange rate, which may result in a less favourable deal for you. Additionally, it is generally best to avoid exchanging money at hotels and other tourist attractions in Chicago, as the rates may not be favourable.
