Where is generally the best place to exchange currency for a trip? [closed]

In general, where is the best place to exchange currency when going for a trip? Some options include:

a bank before you leave
some exchange service before you leave
at the airport before you leave (doubt it)
at the airport when you arrive (doubt it)
at some place at your destination (sounds risky)
using some online service (?)
something I didn't think of?

Please also consider in your answer that I would want to exchange back any leftover currency at the end of my trip. If it matters I live in the US.

Best Answer

Mom-and-Pop money changers near a business district (compromise between security and better rates). Being in a (central) business district and an airport, AFAIK gives you the worst rates.

Banks maybe, if you are a long-time client and hold significant worth of accounts with them.

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Where should I exchange currency before travel?

Your bank or credit union is almost always the best place to exchange currency.

Before your trip, exchange money at your bank or credit union.
Once you're abroad, use your financial institution's ATMs, if possible.
After you're home, see if your bank or credit union will buy back the foreign currency.

Where can you usually find the best currency exchange rate?

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

Where can I exchange currency after trip?

You can easily go back to your local bank, credit union, post office or currency exchange counter after you return. Keep in mind that many of these places don't accept coins, so try to spend those first and save the bills for later.

Is it better to exchange money at the airport or at a bank?

Avoid Currency Exchange Kiosks at Airports If you don't have time to get cash at the bank before your trip, it can be tempting to get foreign currency at an airport kiosk or currency exchange counter. These places offer convenience, but their exchange rates are typically much less favorable than your bank at home.

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