![]() Foreign transactions fees usually total 1% – 3% of the transaction amount. You can still access your bank’s funds without that kind of partnership, though you’ll face foreign transaction fees and surcharges from both your bank and the ATM owner. That way, you can withdraw cash from their ATMs without paying a fee. Check whether your financial institution has a partnership with any overseas banks. Once you’re abroad, you’ll have most success accessing your bank’s ATM network with your debit card. Again, steer clear of major transportation hubs, your hotel or stores in tourist centers. It just might be a little harder to find a good deal. You’ll have plenty of opportunities once you reach your destination. If you can’t exchange currency ahead of time, no need to worry. Unfortunately, they also come with a lot of the same downsides of traveler’s checks like limited acceptance and transaction fees. Someone can also top them up from afar while you travel, making them great for young travelers and students abroad. You just report the incident and request a replacement card. As with traveler’s checks, its value is protected if your card gets lost or stolen. The rate will be consistent with the day you loaded or bought the card, not when you spend. dollars onto the card before you leave the U.S., then use it like a debit card overseas. They also aren’t available in every foreign currency.įor the modern equivalent, consider a prepaid travel card. The downside is they aren’t accepted everywhere so you’ll likely have to cash them at a bank in your destination. An upside to traveler’s checks is they can be replaced if lost or stolen and used only by you since they’re in your name, unlike using cash. You can typically buy traveler’s checks even if you aren’t in the bank’s network. They’re a bit outdated, but banks and credit unions do still offer them. You still have the option of purchasing traveler’s checks. To get the most money at the best rate, use a comparison site. Often, they’ll waive the shipping fee if you order large amounts, plus they’re convenient. They rarely have the same rates you’d find at your bank, but they’re better than bureaus you might find at your destination. These companies provide currency exchanges and international payments through in-store pick-ups or mail delivery. You can also order currency online through foreign exchange providers. Post offices tend to offer similar services, too. While convenient, this method does come with shipping fees. You can also order the currency online or over the phone to have it shipped to your home. Most big banks sell foreign currency to customers in person at a local branch. They have access to the best exchange rates and usually charge fewer fees than exchange bureaus. If you like to plan ahead and want to exchange currency in the U.S., your bank or credit union will be your best bet.
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