You can save money on fees by making some calls before you go and knowing which cards to use,' says Tom Meyers, editor in chief of, a guide to budget travel in Europe. 'Most people have multiple credit cards, and each could have a different fee structure. Foreign transaction fees are a different story.

Card companies base their exchange rates on wholesale prices offered to bigger institutions, so you're bound to get a fair rate. While some desks advertise 'no-fee' exchanges, they still build in a hefty profit by offering a high rate.īefore your next trip, take a look at the best and worst methods of currency exchange by following Bankrate's 'thumbs-up' or 'thumbs-down' rating: Currency exchange methodsĬredit cards offer some of the lowest currency exchange rates. In lieu of foreign currency exchange desks at airports and major hotels, there are more convenient and cheaper ways to exchange currency, Stallings says.

'Many options carry extraordinary hidden fees, and some places are just more difficult to negotiate since they are more cash-based than the typical American is used to,' Stallings says. dollar abroad, update your knowledge of currency exchange.Īccording to Douglas Stallings, senior editor for Fodor's Travel, travelers need to be aware of currency exchange options abroad because of costs. If you're not careful, currency conversion fees can cost more than you expect.

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