Methods for obtaining foreign currency

The best way to get local currency when traveling abroad is usually to withdraw cash from a reputable local ATM using a debit card with low or no foreign transaction and ATM fees, and use a credit card with no foreign transaction fees for most purchases.

You generally don't need to exchange a lot of money before leaving. A combination of a little cash and a fee-friendly card is often the cheapest and most convenient approach.

The best options, ranked

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1. Local bank ATMs — best for cash

Usually offer competitive exchange rates through the card network. Choose ATMs attached to established banks, preferably inside a bank branch.

Best overall for cash

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2. No-foreign-transaction-fee credit card — best for purchases

Use it for hotels, restaurants, transit and shopping where cards are accepted. You may get a better effective rate than at a currency exchange counter.

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3. Exchange a small amount before departure — best for arrival

Carry enough local cash for a taxi, public transport, tips or a small purchase. Your bank may be able to order foreign currency in advance.

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4. Airport exchange counters — usually the least attractive option

Convenient in an emergency, but exchange spreads and fees can make them expensive.

Five rules that can save you money

Always choose the local currency

If a card terminal or ATM asks whether to charge you in U.S. dollars or the local currency, choose the local currency. The dollar option often includes a markup called dynamic currency conversion.www.visa.com+1

Check your bank's fees before departure

Look for foreign transaction fees, international ATM fees, and any reimbursement for fees charged by the local ATM.

Use a debit card for ATM withdrawals

Avoid withdrawing cash with a credit card, which can trigger cash-advance fees and immediate interest.

Carry two payment methods

Bring a backup card and keep it separate from your primary wallet. Keep a modest cash reserve for emergencies.

Avoid unnecessary ATM withdrawals

If your bank charges a fixed fee per withdrawal, withdrawing a sensible amount less frequently can reduce costs. Don't withdraw more than you can safely carry.

My recommended travel-money plan

• Before departure: check your card fees and get a small amount of local currency if convenient.
• On arrival: use a bank-operated ATM if you need more cash.
• During the trip: pay by card in local currency whenever practical.
• At every ATM: decline the ATM's own currency conversion when offered, and review any fee before accepting.www.fdic.gov+1

One important exception: some destinations rely heavily on cash, have limited ATM access, or restrict foreign cards. In those places, it's worth arranging more cash in advance.

Where are you traveling? Tell me the country, and I can suggest the best way to get its currency and what fees or exchange traps to watch for.

The best way to get local currency when traveling abroad is usually to use a debit card at a reputable local ATM, choose to be charged in the local currency, and avoid airport currency-exchange counters when possible. A little preparation before you leave can save you money and hassle.

The best ways to get foreign currency

• 

1. Withdraw cash from a local ATM

Usually the most convenient option. Use a debit card with low or no foreign transaction and ATM fees. Prefer ATMs attached to established banks, rather than standalone machines in tourist areas.

Best for most travelers

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2. Bring a small amount of cash from home

Exchange enough for transportation, a meal, or small purchases when you arrive. You can order foreign currency from your bank before leaving, although rates and fees vary.

Best for your first few hours

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3. Use a currency-exchange office

Useful if you cannot use an ATM or need cash without a bank card. Compare the final amount you will receive after commissions. Airport counters and hotel desks often offer less favorable rates.

Best as a backup

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4. Pay directly by card

Visa and Mastercard are widely accepted in many destinations. A card with no foreign transaction fee can be cheaper than repeatedly withdrawing cash. Keep some cash for places that do not accept cards.

Best for everyday purchases

How to avoid unnecessary fees

• Choose the local currency. If an ATM asks whether to charge you in U.S. dollars or the local currency, choose the local currency and decline the ATM's conversion offer. This generally avoids unfavorable dynamic currency conversion rates.www.visa.com+1
• Check your bank's fees first. Look for foreign transaction fees, international ATM fees, and ATM operator surcharges.www.nerdwallet.com+1
• Use a debit card for cash. Avoid credit-card cash advances, which can carry extra fees and immediate interest.
• Carry a backup. Bring a second card and keep it separate from your primary card. Don't carry all your cash in one place.
• Withdraw thoughtfully. If fees are charged per withdrawal, taking out a reasonable amount less often can save money, but avoid carrying more cash than you need.

For additional guidance, see NerdWallet's guide to exchanging currency and Visa's explanation of currency conversion.

Let me tailor this to your trip

The best approach depends on where you're going and which bank cards you have.

Which country are you traveling to?

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How long will you be there?

A few days

1–2 weeks

A month or longer

How do you expect to access your money?

Debit card linked to my bank

Credit card

Cash I bring from home

Not sure yet

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