UCBeau

Is it better to do it at the airport or somewhere else? Anyone have any suggestions for places to go? I figure pretty much anywhere in the USA will be somewhat of a ripoff though.

altaskier

ATM machine at arrival location.

ddrewboy

What are you going to exchange - from what to what? Also, where are you and where to? Also, how much are we talking about?

For instance, when I go to BKK, I know there's a place in Soi Nana that the gap for buying and selling rate is less than 1% which also means that the actual exchange rate will be about 0.5% to 1% better than banks and exchange kiosks. So, if I need to change USD500, I dont go there if it's out of my way. However, if I change USD2500, I will go there to get a better rate.

Also, I have seen that exchange rates can be slightly different from countries to countries.

One other observation, I've seen that bigger notes get better rates in some places.

rgds,
drew

edit: To answer your question, I generally see that airport booths do not have competitive rates when compare with the outside exchange booths.

ExitRowOrElse

Avoid the money exchangers at all cost. Get you money either in the bank, or from the ATM.

I had 1 100 pound note left before I had to proceed to the gate for a BA flight from LGW to TPA. When I realized that I was going to receive about $20.00 less that the note was worth at either of the exchange booths at LGW, I said to hell with this. I bought a few items on the plane on the way home, and just put the 70 pounds I had left over in the piggy bank for my next trip across the pond.

Robt760

I've tried a few methods, though I don't really exchange more than $200 at a time.

Union Bank of CA Foreign Exchange

The bank I deal with (UBOC) offers Foreign Exchanges at all branches, but it does take 2-3 business days for them to get the currency. Example= In January, I purchased 150 Swiss Francs for $143.00 and no transaction fees etc.. (1 USD=1.0563 SF) I did an exchange of USD to JP Yen awhile back at a decent rate as well. You may need an account in order to do the trade though. Check with your own Bank to find out about their rates of exchange or they can even do it.

At a Foreign ATM Using Union Bank ATM Card

I got a rate of within 1/2 percent of the post office rate in Japan but there was a $5.00 ATM fee added by my bank on my statement. I used an ATM/Banking card at an ATM at the Japan Post Office. Research I found shows "Post Office ATMs" have the best rates with no fees other than your home bank in Japan.

I can share other details about credit card/debit transactions too, with anybody that's interested. Paypal and Capital One being two that I used.

daniellam

I ask for a cash advance when I arrive at the hotel of the destination (I usually use the hotel car service and usually forget to tell the driver I need to use the ATM) and it would then get posted to my room bill.

Most of the time I end up not using a large portion of the cash (I just keep it with me just in case I need it) and pay for most of my purchased with my credit card.

At the end of my stay (or at my last stop in the particular foreign country) I would take all my left over currency for that country (all notes and coins) that are left over and use it to settle part of my hotel bill (the rest gets charged to my credit card).

ddrewboy

This is a good idea. I should start doing this on my vac. Thanks.

rgds,
drew

UCBeau

i would be going from dollars to euros and back. figure about 800$ US needs to be changed.

3timesalady

I also use ATM machines. I figure that whatever fees my bank charges are still less than the commission + unfavourable exchange rate that a cambio would offer.

graraps

Local ATMs. If you look hard enough, you should be able to find a bank whose charges are either very cheap or completely free.
The only time when this is not the best solution is when the "official" rate given out by the ATM is different to the "street" rate (as is presently the case with Venezuela), then things become trickier...

runnerwallah

You can't use an ATM machine when going back from euros to dollars. Spend as much as you can.

For the remaining Euros you want to convert to USD, I got a relatively good rate in the US at an American Express Travel agency. You can avoid some fees if you have an Amex card. I avoid Travelex because the rates are ripoffs. I believe (may be wrong) that Union Bank also uses Travelex.

graraps

Well that's the other good thing about free withdrawals. I've been known to withdraw as little as 200 CZK when on a short stay in PRG.

alanR

What he said - plus I carry some home country cash for emergencies

MisterNice

I use only ATM with my debit cards (I carry two). The conversion rate is the interbank rate with a separate 1.00% charge. I pay off the final hotel bill with most of leftover currency laving enough for taxi, a beer or two at the airport etc. I try to save a few coins and notes for future trips. Occasionally I pay off the hotel bill with additional local money from the ATM saving saving the 2-3% credit card charges but giving up the ff miles.

MisterNice

blahter

I try to never use the airport booths and if for some reason I really need to, it's usually for a very small amount