Do banks charge a fee for currency exchange?
Do banks charge a fee for currency exchange? Many banks offer currency exchange to their customers. Though there may be a small fee if you exchange less than a certain amount, your bank or credit union will almost always be the cheapest place to exchange currency.
How do you avoid fees when exchange currency?
3 tips to avoid foreign transaction fees
- Get a no-foreign-transaction-fee credit card. Though most credit cards do charge foreign transaction fees, there are a number that don't. ...
- Use a debit/checking account with no foreign transaction fees. ...
- Pay in the local currency.
Is it better to use cash or card in Europe?
While credit cards are accepted in most situations, currency can be more convenient for public transportation and small vendors. It's also wise to carry an emergency fund with enough cash for a few days, just in case your card gets lost or stolen.
Should I exchange money before I travel?
Buy currency before you travel.
Doing so gives you time to shop around for the best rate. Plus, when you arrive, you won't have to immediately find a bank or currency exchange. Do some research ahead of time to see if US dollars are widely accepted at places you plan to go to.