How to Prep for Currency Exchange Like a Pro
If you've ever landed in a foreign country, jet-lagged and hungry, only to realize your wallet is filled with the wrong currency and nowhere takes card—well, you’re not alone. Currency exchange might not be the sexiest part of travel planning, but it’s one of the most important. And trust me, a little prep can save you money, time, and a whole lot of headaches.
Here’s how to get it right, with tips, tools, and a few "don’t do what I did" moments sprinkled in.
Know Before You Go: Understand the Currency
Before you even board that plane, do a little research:
What’s the local currency?
What’s the current exchange rate?
Is it a cash-heavy culture or mostly card-friendly?
Sites like XE.com and apps like Currency Converter Plus or XE Currency give you real-time rates so you know what you're working with. Bonus: You can even check historical rates to see if the current rate is favourable. This helps you decide if it's better to exchange now or wait.
Avoid the Airport Exchange Trap
Here’s the deal: Airport currency exchange kiosks are convenient but costly. Their rates are often the worst, and they tack on hidden fees. Think of them as the last resort when your ride from the airport only takes cash and you’re stuck.
Better options?
Use an ATM in your destination country for a better rate.
Exchange a small amount before you leave just to cover initial expenses (like a taxi or coffee at arrival).
Use the Right Apps to Track and Manage Currency
Tech makes it way easier than it used to be. A few handy apps to consider:
Revolut: Amazing for managing multiple currencies, instant exchange at great rates, and even budgeting your trip.
Wise (formerly TransferWise): If you're transferring money between currencies or paying international invoices, Wise often beats the banks and PayPal.
CurrencyFair: Great for peer-to-peer currency exchange, especially if you’re making larger conversions.
Trail Wallet or TravelSpend: For tracking how much you're spending and converting it to your home currency in real time.
Call Your Bank Before You Leave
Before you swipe your card halfway across the world, make sure:
You inform your bank of your travel dates and destinations.
Ask about foreign transaction fees (many charge 1–3% per swipe).
See if your card is part of a global ATM alliance to reduce ATM fees.
Pro tip: Consider getting a travel-friendly credit card with no foreign transaction fees.
Cash vs. Card: Find the Right Balance
Each destination is different. In Japan, for instance, cash is still king in many places. In Scandinavian countries, they might look at you funny if you try to pay with cash.
Here’s what to do:
Carry small amounts of local cash for tips, street food, and small purchases.
Use your credit or debit card for bigger expenses (hotels, transport, shopping).
Never carry all your cash in one spot—split it up between your wallet, day bag, and a safe stash in your luggage.
Know the Fees, Avoid the Scams
Be aware of sneaky charges and common traps:
ATM fees: Your bank may charge, and the local bank might charge too. Look for fee-free ATMs if possible.
Dynamic Currency Conversion (DCC): At shops or ATMs, you might be asked if you want to be charged in your home currency instead of the local one. Always choose the local currency—DCC comes with a higher exchange rate and extra fees.
Street exchangers: If someone approaches you offering better-than-bank rates, just smile and walk away. It’s a scam or counterfeit waiting to happen.
Budget Buffer: Don’t Exchange It All Back Right Away
Leave a little cushion in case of emergencies. If you have leftover currency, consider:
Keeping a small amount if you plan to return.
Using it at the airport on snacks or souvenirs.
Converting it back at a reliable money changer, but only if the rate makes sense (you may lose money twice in the exchange process).
Consider a Multi-Currency Account
For frequent travelers or digital nomads, a multi-currency account like Wise, Revolut, or Payoneer allows you to hold and spend in different currencies with minimal fees. Great for longer trips or when bouncing between countries.
Go with the Flow, But Plan Smart
Handling currency doesn’t have to be a chore. A little planning upfront lets you relax and focus on the *fun* part of travel—like trying new food, getting lost in charming neighborhoods, or splurging on that spontaneous day trip.
So before you pack your bags, pack your brain with a smart currency game plan. Your wallet—and your future self standing at a gelato stand in Rome—will thank you.
