How to Save Money When Changing Currencies

Changing currencies between countries can be tricky business — there’s no shortage of ways people are trying to separate you from your hard-earned cash. Avoid the costly fees associated with certain establishments and use these cost-effective ways to switch out your cash.

ATMS

One of the best ways to pay minimal fees when changing currencies is to withdraw it from an ATM. Instead of withdrawing in your native dollar, withdraw the money in the local currency so you don’t have to switch it out later. That way, you’ll only be paying the bank a flat rate.

Avoid Airport Exchanges

The currency exchange attendants in airports will routinely try and kid you with a line about how they just heard how much cheaper their rate is than the local rate in the country you’re visiting. They pull that line all the time, and it’s rarely ever true. Don’t exchange your money at the airport unless you absolutely must.

Seek Out a Local

This might seem strange, but if you can find a local who travels frequently to your homeland you might be able to do a simple exchange with them. They’ll likely give you a direct trade instead of charging any obnoxious fees, so do your best to make friends once you arrive.

Find a Store That Takes Dollars

This trick doesn’t always work, but some stores will accept dollars for transactions and then give you your change in local currency. Buy something small, then give them a high value bill and hope for the best. If you’re lucky, and they’re feeling nice, you might be able to get a good bit of local dough this way.