Currency Exchange At Austin Airport: Where And How?

If you're looking to exchange currency at Austin Airport, you're in luck—the airport does offer currency exchange services. However, it's worth noting that currency exchange services at airports are often more expensive than those in city centres or through online providers. This is because airport currency exchange services rely on passing trade and do not need to offer competitive rates to build customer loyalty. In addition, there may be limited competition to keep prices down. So, while currency exchange services at Austin Airport may be convenient, they might not offer the best value for money.

Currency exchange services at Austin Airport

Austin-Bergstrom International Airport (ABIA) in Austin, Texas, offers currency exchange services for travellers who need to convert their money. While some sources suggest that currency exchange services are no longer available at the airport, others indicate that specific providers like Travelex Currency Exchange and United Heritage Credit Union have branches at the airport that offer currency exchange.

Travelex Currency Exchange

Travelex Currency Exchange previously had kiosks at Gates 6 and 14, operating daily from 6 am to 6 pm. However, as of 2021, Travelex has ceased operations in the United States, so these services may no longer be available.

United Heritage Credit Union

United Heritage Credit Union offers a full range of banking services, including currency exchange, and is located within the airport.

Other Options

In addition to these providers, there are a variety of banking services available at the airport, such as ATMs and banks/credit unions. Bank of America has ATMs located throughout the airport, including in the ticket lobby, near Gates 1-9 and 11-24, and in the baggage claim area. For more comprehensive banking services, Wells Fargo Bank is located just 3.6 miles from the airport.

It is always a good idea to contact the airport or the specific financial institutions ahead of time to confirm the availability and specifics of their currency exchange services. Additionally, keep in mind that currency exchange services at airports may offer less favourable exchange rates and higher fees compared to other options outside the airport or online.

Financial institutions in Austin that offer currency exchange

There are several financial institutions in Austin that offer currency exchange services. However, it is always a good idea to contact the institution before visiting to ensure that they can exchange your specific currency.

Currency Exchange International (CXI)

CXI is the largest and most trusted foreign currency exchange specialist in North America. They offer foreign currency exchange services to the Austin area through their OnlineFX Home Delivery service. CXI's City Center branches offer better exchange rates than local banks and airports. They also have a Best Rate Guarantee, promising to match or beat any local bank for the same currency and exchange amount.

Texas Currency Exchange

Texas Currency Exchange offers exchange services for over 80 different currencies and provides discounts for active military, local police, and firefighters. They are located in Barton Creek Square, on the east side of the mall, in between both Dillards, next to Men's Warehouse, on the first floor (Kiosk 114 in front of Dillards). Their operating hours are 12:00 pm to 7:00 pm, Monday to Friday.

Travelex

Travelex is another option for currency exchange, located in the Austin-Bergstrom International Airport. However, keep in mind that airport currency exchange services are generally more expensive due to a lack of competition and their reliance on passing trade.

Cambio Express

Cambio Express is located inside a Shell gas station at 8540 Research Boulevard, Austin, and is open daily from 9:00 am to 9:00 pm.

In addition to these options, there are other financial institutions in Austin that provide currency exchange services, so be sure to check with specific institutions to find one that suits your needs.

ATM withdrawals in a foreign country

Withdrawing money from an ATM in a foreign country can be a convenient way to access local currency when travelling. However, there are a few things to keep in mind to ensure you get the best exchange rate and avoid unnecessary fees.

Firstly, it is important to understand the fees associated with international ATM withdrawals. Your bank may charge an out-of-network fee for using an ATM that is not part of its network, as well as a foreign transaction or exchange fee, which is typically around 1% to 3% of the amount withdrawn. Additionally, the ATM operator may charge a separate fee for using their machine, and their currency conversion rate may not be favourable. These fees can add up quickly, so it is worth checking with your bank before you travel to understand their policies.

To avoid unnecessary fees, consider using a debit card that doesn't charge any foreign transaction or out-of-network fees. Cards such as the Capital One 360 Checking account and the Schwab Bank High Yield Investor Checking account offer free withdrawals at ATMs worldwide. Alternatively, you can use a credit card that doesn't charge foreign transaction fees, although you may have to pay a cash advance fee and a higher interest rate.

When withdrawing money from an ATM in a foreign country, always choose to be charged in the local currency. If you opt to pay in your home currency, the merchant's exchange rate will be used, which can include extra fees and be more expensive. Additionally, be sure to use ATMs in safe and secure locations, and always cover your PIN to prevent identity theft.

If you're travelling to Austin, Texas, it's worth noting that currency exchange services are available at Austin-Bergstrom International Airport, but these may not offer the best exchange rates. You may find better rates by using an ATM or visiting a financial institution in the city. However, if you need to exchange currency at the airport, you can find these services opposite Gate 23, after security.

Credit cards at foreign ATMs

Using a credit card at a foreign ATM can be costly. If you use a credit card at a foreign ATM, you'll likely have to pay a cash advance fee and a higher interest rate with no grace period.

Foreign Transaction Fees

Foreign transaction fees are charged by your bank for currency conversion. Foreign transaction fees are often 1% to 3% of the amount of a purchase or ATM withdrawal. If your bank charges foreign transaction fees, you'll pay a percentage of the total withdrawal amount for using your card at a foreign ATM.

Out-of-Network ATM Fees

Out-of-network ATM fees are charged by your bank for using a non-network ATM outside your home country. These fees are typically a flat fee per withdrawal, likely ranging from $2 to $5. The ATM or its affiliated bank may also charge a fee for its use, which is likely to be several dollars.

Currency Conversion Fees

When you withdraw money from a foreign ATM, the machine may offer you the choice to convert transactions into your home currency. However, this can result in hidden currency conversion fees, sometimes as high as 7%. It is generally more cost-effective to pay in the local currency.

Alternatives to Using a Credit Card at a Foreign ATM

• Use a travel credit card: Consider using a travel credit card that waives foreign transaction fees. This can help you avoid ATM fees and the need to carry large amounts of cash.
• Choose a bank that doesn't charge foreign ATM fees: Some banks, such as Capital One 360 and HSBC, don't charge foreign transaction fees or foreign ATM fees.
• Use a bank that reimburses ATM fees: Some banks, such as USAA and Wells Fargo, offer reimbursement for out-of-network ATM fees, depending on your account type.
• Use your bank network's ATMs or partner ATMs: If your bank operates ATMs worldwide, use those whenever possible. If your bank doesn't operate outside your home country, check if it's part of any fee-free ATM networks.
• Get cash back at a store: Instead of using an ATM, you can request cash back when making a purchase at certain stores. However, ensure you use a debit card with no foreign transaction fee to avoid additional charges.

Currency Exchange at Austin-Bergstrom International Airport

The Austin-Bergstrom International Airport does offer currency exchange services, located opposite Gate 23. However, keep in mind that exchanging currency at airports is generally not recommended due to unfavourable exchange rates and higher fees compared to other options.

Debit cards at foreign ATMs

If you're travelling and need to withdraw cash, using your debit card at a foreign ATM is a good option. Here are some things to keep in mind:

Check for Acceptance:

Before your trip, check if your debit card is accepted overseas. Look for a Visa or PLUS logo on your card. If it has either of these, it will be accepted at ATMs with the same logo. You can also ask your bank about any restrictions or requirements, such as notifying them of your travel plans.

Understand the Fees:

Using foreign ATMs may incur various fees. Your bank may charge a foreign transaction fee for using your card internationally. Additionally, both your bank and the ATM operator may charge withdrawal fees. These fees can add up, so be sure to review your bank's terms and conditions before your trip.

Be Aware of Exchange Rates:

When withdrawing cash from a foreign ATM, you may be given the option to be charged in the local currency or your home currency. Always choose to be charged in the local currency. If you opt for your home currency, the exchange rate used may include extra fees, resulting in a higher cost for the transaction.

Consider Alternative Options:

If you want to avoid ATM fees altogether, consider opening a multi-currency account with a digital bank. These accounts offer the advantage of treating your card as a local card, eliminating the need for currency conversion and associated fees. Some digital banks, such as N26 in Europe and Starling Bank in the UK, offer free foreign ATM withdrawals and no foreign transaction fees.

Practice Caution:

When using foreign ATMs, it's essential to be cautious. Use ATMs during business hours, preferably those inside secure locations like a bank or supermarket. Additionally, always be aware of your surroundings and protect your PIN to prevent fraud and theft.

By following these guidelines, you can effectively use your debit card at foreign ATMs during your travels, ensuring you have access to cash while managing any associated fees and risks.

Frequently asked questions