How should I exchange Currency for Overseas Travel?

Exploring a foreign land can be the most exciting thing you would ever do! However, one not-so-exciting aspect of international travel is exchanging your US dollars for the local currency. The currency exchange kiosks at airports and tourist destinations feel like a rip-off, and you obviously don’t want to start a trip with poor exchange rates and paying too much in service charges.

While there’s no perfect answer to currency exchange, some options are cheaper, faster and more convenient than others. Here are 4 popular ways to exchange currency, including their pros and cons.

Remember that the ideal currency exchange rate is the market rate but it is almost impossible for regular consumers to get market rate currency exchanges. You can only aim for an exchange rate closer to the market rate.

Credit cards

A credit card is one of the commonest ways people exchange currency while traveling internationally. Credit cards are convenient and secure but they usually charge a transaction which nullifies any benefits like a good exchange rate.

Getting cash with a credit card usually incurs high fees and high interest rates that start accruing the moment you draw cash. In some cases, if you don’t let your issuing bank know you’re traveling, your vacation shopping could be mistaken as fraudulent and they may lock down your card.


ATMs are the most obvious way to draw cash, aren’t they? But do you know that they would charge you an international transaction fee, about 3%, and you will be using your bank’s exchange rate, which may or may not be the best rate possible.

Domestic banks

If you have the time, your local US bank can most likely get you foreign cash. But banks usually charge hefty fee and you do not even get a good exchange rate.

Prepaid travel cards

The modern travel or forex card is like the traveler’s checks of yesteryears. You can load money in them in different currencies and then use them like a credit card. But they often have a fee attached. So, check before you buy it.

Currency Exchange Services

Since currency exchange services are in the business of buying and selling forex, they can give you the best rates. Many even buy back what your currency that you bring back home upon your return.

If you are looking for the best Texas currency exchange rates in Dallas or San Antonio, call Texas Currency Exchange at 888-975-6009. At Texas Currency exchange, we will help you with any questions about exchange rates, the type of currency you will need for your travels and more.

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