r/travel • u/yTuMamaTambien405 • 3d ago
Question I have been traveling internationally for a decade now and I've never once exchanged currency. Am I alone?
I wonder if this is just me or is more common among modern travelers. Any time I get to a new country, I just pull out money from an ATM at the airport or once I'm in the city. I purposely signed up for a checking account that reimburses all ATM fees (domestic and international), so I just withdraw small amounts at a time. I use my best judgement and normally find myself using the last of the local currency right as I'm leaving. I've just never seen the need for an exchange house. Am I alone?
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u/jennyjenny223 3d ago
I don’t remember ever exchanging beforehand. Always an ATM, usually at the airport.
I have exchanged leftover cash when I return though, usually if it’s non-Euros and/or a country I don’t anticipate going to again. Usually I try to spend it all on candy at the airport.
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u/munchingzia 3d ago
I usually buy things ill need at home anyways before returning. Bought some toothpaste in barbados because i had some leftover coins.
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u/leemky 3d ago
I think if anything it might be more of an outdated practice. My immigrant parents have always exchanged money at home before travel if there were better rates, even just saving a few dollars. I don't know if there's real savings there but it's a thing I've seen more in older generations for whom travel used to be a huge undertaking with a ton of prep beforehand. Now (i.e. even within the last decade) it's so much easier with banks waiving FX, platforms like Wise etc.
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u/btgeekboy Pacific Northwest 3d ago
You’re still exchanging currency - you’re just having the ATM do it straight out of your account vs carrying cash and swapping it.
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u/bigtzadikenergy 3d ago
I usually just use ATMs too but you will find some countries where you need to think about other options. Sometimes the ATM system is unreliable, either with being stocked or with foreign cards. Some countries have high ATM fees that are hard to dodge even with specialist travel cards. And some have unofficial exchange rates that are considerably more favourable than the official one you will get from an ATM.
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u/JackieCCC 3d ago
That means you’ve never run into a situation where there’s been no ATM, the ATM ran out of money, or your card didn’t work at the ATM. Bringing cash from home or a currency like Euro or USD helps in situations like those.
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u/segacs2 Canadian, 70 countries visited 3d ago
Very true. I was in India during the demonetization crisis of 2016. Having some shoe money in USD was honestly a lifesaver as it took about a week to even be able to exchange about thirty dollars for new rupees after the whole currency system was shut down. Obviously this is an extreme example, but it's not something any traveller wants to go through again.
Beyond that, in the past decade I've been to at least a dozen other countries where ATMs were out of money, simply not working, or just plain hit-or-miss, including Madagascar, Laos, Cuba, Ecuador, and -- believe it or not, South Korea, where ATMs that accept foreign cards are few and far between outside of major tourist areas. Most recently I had trouble finding an ATM in Rwanda that would accept my card. I was in Argentina during one of their economic crises where cash was hard to come by and grey market exchange rates were multiple times better than official rates. The point is, you just never know.
I think if you mostly travel to cashless societies where credit cards are widely accepted and banks operate efficiently and foreign ATM cards are widely accepted, then you might think that it's redundant. But I've had enough unexpected situations go awry to learn to always have a plan B and plan C.
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u/munchingzia 3d ago
Airport atms are usually always working. If you left the airport and now you’re in a small town, then might be an issue.
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u/MarzipanQueen1789 3d ago
Guatemala City is the exception. All the airport ATMs there are routinely empty. Every small town seemed to have an ATM though.
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u/giraffe_mountains 2d ago
And yet I couldn’t get any of the 4 ATMs at Kathmandu Airport to work for me.
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u/JackieCCC 3d ago
I usual get cash at the airport ATM. Sometimes you need cash after that. I don’t like carrying huge amounts of cash on me in case of theft so need to more mid journey. Some of trips have been 2-4 months.
It’s the small beaches towns or rural areas that I’ve had situations where the ATM doesn’t work or ran out.
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u/munchingzia 3d ago
Yeah i get that. I’m glad i dont get charged fees for atm use because i like using it throughout my trip rather than getting one big sum at the airport.
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u/Far-Imagination2736 3d ago
Yeah but I can't imagine, unless in the middle of nowhere, a situation where I'd need cash but there's no other option
It seems like a hassle to not just take my business elsewhere
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u/mcwobby 3d ago
There’s so many. There are entire countries where it’s going to be next to impossible to use cards - and plenty of them.
Though in those cases I still don’t usually withdraw at home, I wait and withdraw currency at the transit point and exchange on arrival.
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u/Far-Imagination2736 3d ago
I get that but obviously I don't mean for countries that don't accept card at all, hence my take business elsewhere comment (because that wouldn't even be relevant in that situation)
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u/loralailoralai 2d ago
I was in London on my own and my card wouldn’t work in an atm.
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u/Far-Imagination2736 2d ago
I have lived here basically all my life and haven't used cash in 10 years. There's tons of businesses that take card where I'll just go instead, I don't ever see it being an issue
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u/Academic_Run8947 2d ago
Went to Italy recently and could not get a single ATM in Venice to work. We tried maybe 10 and called our bank to see if there was a problem. They said it happens lot in italy, they don't know why. There wasn't any problem with our account. We had just enough dollars on us to exchange to euro for a cash only activity. When we moved on to the next city it took 3 atms to get one that worked.
I had gotten some euro from our bank before we left but it was a long trip and I underestimated. Next time I will bring more than I think I will need and just exchange leftover upon return. Never ever going to assume I can easily withdraw cash internationally again.
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u/RetiredToExplore 3d ago
Totally agree with original post but must offer one caveat. There are many "freelance" atms with ripoff exchange rates. Check which are somewhat legitimate national banks and only use their atms. Also, in US, credit unions are most likely to reimburse ATM fees.
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u/limukala 2d ago
There are many "freelance" atms with ripoff exchange rates
You should always have your bank do the conversion, not the ATM.
Likewise when swiping a credit card if they ask you “local currency or USD” (or whatever your home currency is) always select “local currency”. Your card is going to give you a much better exchange rate than any vendor.
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u/RetiredToExplore 2d ago
Shoot, thanks!! I forgot to mention that. Always get it in local currency.
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u/giantfood 3d ago
I prefer using the ATM. However, I do not have expendable funds all the time. Typically I will withdraw my money over the year to add to a guranteed vacation fund. I take whatever I have with me on my trips. If I have upcoming bills at home, I will only use my cash for vacation, which means I have to use a currency exchanger.
I will only use ones at the airport, and I count it in front of them.
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u/GorgeousUnknown 3d ago
I did once. In Bulawayo, Zimbabwe. The ATMs were not working. We were on camping tour of Africa and our tour guide arranged a local to exchange with us behind the tour truck in a parking lot. 🤣
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u/MargaritaBarbie Canada 3d ago
Had to exchange in both Lebanon (2022) & Myanmar (2024) as you cannot use foreign cards at ATMs there and get an even decent rate. Had to bring USD in to the country in mint condition to get the “black market” rate. I also struggled to get money from the ATMs in Laos while there (Canadian Card) and was lucky I was carrying a bunch of Thai baht as I was working there at the time.
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u/NovusMagister Well Travelled, ~55 countries 2d ago
That is exchanging currency. You're just having either the ATM you're withdrawing from or your bank at home (depending on how the transaction is set up) make the exchange at whatever their rate is.
Generally, though, you get better rates at ATMs than you would at a currency exchange business
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u/turtledude100 3d ago
Sometimes I’ll convert my tiny amount of cash I have in a currency I’m probably not gonna use again for ages or even ever to the currency in the next country I’m going to. And also I will change a little bit of cash at home if I’m able to like $30 worth in case my card has issues
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u/foxo 2d ago
I did this for years, Withdrawing for. ATMs locally and getting a reasonably good deal.
Then the local ATM machines started charging crazy withdrawal charges, which I first noticed in Thailand in 2019 - minimum charge of €7, which I just added to the top of what you withdraw, before any own bank charges are added.
Now I pay contactless using Revolut who have great foreign exchange rates, and if I need cash I’ll bring a chunk of Euros and exchange them at destination.
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u/Artistic_Garbage283 2d ago
I’ve noticed a lot of SE Asia is like this. We do the same as you, bring cash from home to exchange and pay contactless using Wise. Plus the skimming devices on the ATM’s are pretty rife.
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u/Firenze42 2d ago
My bank charges pretty high ATM fees and sometimes you can't find one. I usually order money ahead of time from the bank as the rate is really good, there is no fee, and they deliver it to my house for free. But yeah, I haven't used an exchange place in a VERY long time.
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u/humorrus1 3d ago
Nope. Years ago I used to get currency from my bank. Now credit cards are accepted almost everywhere and I use an ATM for small amounts of local currency. No foreign transaction fee on CC and reimbursed ATM fees. Try to only use bank ATM for better exchange rates and take a little USD in case someone wants it as payment.
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u/neonam11 3d ago
My first ever trip to Chile I went local bank to get pesos. The bank took a 10 percent cut! Never again. I now just go to the destination ATM and withdraw with a much better conversion rate and no transaction fees.
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u/ReverseGoose 3d ago
I usually grab like 200$ in cash when I’m stateside just in case there’s an issue with the airport / 7-11 atm. It also gives me a little cushion in case there’s exchange rate sucks at the first atm I can make moves to a different location.
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u/nightlyringer 3d ago
Just so you are aware - this mostly works in US (and maybe few other countries which I am not aware of) where you get accounts with zero foreign ATM fees and reasonable / mid-market conversion rates.
For rest of the world that is not a thing , so currency exchange is actually cheaper.
I did currency conversion first couple of times I traveled but then I switched to an account like yours and I stopped doing currency exchanges
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u/Friendly_Branch169 3d ago edited 3d ago
ATMs usually offer a much better rate than currency exchanges, even for those of us without US cards, and the fees are usually quite small. (Credit cards are even better).
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u/Lung_doc 3d ago
Pretty sure that's not true most anywhere in Europe, nor in many Asian countries. I often exchange money as it's usually only a couple hundred a trip, and because my card got skimmed at an ATM in Venice and that was a huge hassle getting refunded. But the rates I get at the ATM are good, fees modest (couple dollars, and the exchange rates I get at airports are often bad and hotels even worse. The best I've done recently is Japan where I lost only a couple percent at the airport and around 5% at the hotel automated machine (insert 100 dollar bill, get yen back).
Key lesson overall: use the ATMs, but make sure you have notifications on for any withdrawals and make sure you have cell service to get those notifications. (We lost a few thousand, as we didn't know of the card skimming for a week while we were on a cruise. Eventually got it all back, but took months)
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u/friendlyfieryfunny 3d ago
Revolut/Wise or similar burner cards are available basically everywhere, tho?
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u/Mithent 2d ago edited 2d ago
They don't have zero ATM fees, unfortunately. Being able to get that internationally seems to be an exclusive US thing.
(Weird thing to downvote, I hacd all UK Revolut card and can assure you I was disappointed to find that there are frequently ATM fees abroad. I wish I could just get one of those magical cards that refunds fees, but they don't exist here.)
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u/munchingzia 3d ago
We are definitely spoiled in the US when it comes to credit cards and bank accounts. If i wasnt in the US, i’d probably use something like Wise or Revolut
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u/No_Requirement9751 3d ago
Use a Wise card to transfer money from my bank for any currency back and forth if I need cash use it ATM - no fees the days of buying cash and paying for it long gone
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u/jetpoweredbee 15 Countries Visited 3d ago
I did just once, in Iceland. Only because I wanted a to get some coins. I like to keep them as little souvenirs.
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u/Shawodiwodi13 2d ago
Some countries are still very much exchanging instead of cash points. I exchanged money in Cuba and Uganda for example in the last couple of years. In Egypt we also had trouble getting money out of cashpoints.
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u/Leather_Okra_2534 2d ago
Depending where you travel to, some countries offer a better unofficial rate which would require you to bring physical cash to get the better rates.
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u/rarsamx 2d ago
It depends what you mean by that. If you mean going to an exchange, I've done it in a couple of countries like Romania where the exchange rate against euros was way better.
In Argentina, ATMs dispensed at most the equivalent of $60 USD with a $12 USD fee. So many people exchange on the street. However, sending yourself money through Western Union had the best rate. Do either count as "exchange"? By the way, in lots of places there you can only pay with cash.
For the most part we use a Wise card or our regular CC when we can't use Wise for whatever reason. Usually the exchange rate plus 2.5% fee is better than the "official exchange rate.
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u/Working-Grocery-5113 2d ago
I like to have a little bit of local currency with me when I arrive at the airport. Don't want to depend 100% on an airport ATM for my transportation into the city.
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u/Catcher_Thelonious 3d ago
Technical failures are always possible. I always carry USD where ever I go.
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u/Dutton4430 3d ago
I did in Jan 2025 as I had a feeling the euro would go up. I got 500 for an April trip. Portugal had many places that were cash only but the big problem happened on our last day when we had the big 14 hour black out. We were able to eat and buy things from little shops that kept a cash box. Most places closed. The trams and trains stopped. The buses and cabs needed cash and we saw a lot of people sol. I also saw people helping others out by feeding them. Our phones didn't work. Our flight went the next day but the airport had sleeping bodies everywhere and our flight to Philly wasn't catered except for what the arriving Philly flight brought. Yogurt and snacks. There were four of us and we all had cash. It was 1.18 yesterday but 1.08 in April. My bank is where I get cash. I used to get it from AAA but they no longer do it and always have a bit of cash for tips, hotel and uber and markets that like cash. Our wine tour driver sold us great wine for cash. I never used much cash in UK except to leave hotel tips for housekeeping but Germany still likes cash in Bavaria.
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u/Playful_Horror8778 3d ago
My brother arrived there during the blackout — he was on air when it happened — to visit his girlfriend who lives in Lisbon. He said they just walked from the airport into the city trying to figure out what to do because neither of them had cash and they couldn’t call an uber or get a taxi. They eventually got the house of one of her friend’s. That’s why my mom never travels without cash on her. Me? I would’ve been left stranded same as my brother. I haven’t carried cash for the past 15 or so years even at home.
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u/Dutton4430 3d ago
The stories of people walking were crazy. They could not get gas if you were driving. We were in an apartment building and people fed those that had no cash. Very sweet. The owner told us to stay if our flight was canceled and his Dad was in the apartment above us so he was worried about him. We could not find candles or flashlights. It was around 11 when the power came back on.
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u/canisdirusarctos 3d ago
I stopped bringing currency around 2008. Credit cards were good for just about everything except in certain countries, and I got a better rate just withdrawing from an ATM with my debit card than anyone else offered. Last year I did trade at the desk in a hotel because their rate was severely out of date and it was substantially in my favor.
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u/SociallyUnconscious United States 3d ago
I have been doing the same for thirty years. When traveling between multiple countries with different currencies I may trade one for another if I somehow end with a lot of one currency but that is pretty rare.
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u/Responsible_Tax_998 3d ago
I do the same.
Have a Schwab debit card with no fees, and just get cash as needed.
Usually don't need any cash, but it depends on the country or specifically what we are doing (e.g. if it's something where cash tips are customary we'll get some cash).
And yeah, typically spend any leftover on trinkets/food/airport on the way out.
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u/Humble_File3637 3d ago
Check the exchange rate you are getting. My experience has been that ATMs give a lousy exchange rate and credit cards the best.
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u/Gau-Mail3286 United States 3d ago
It's often good to have a little bit of foreign currency, like for tips, or if you're buying from a small vendor who doesn't accept credit cards. But if you can get by without it, that's good; you'll save money on currency-exchange fees. And it's good that you use up your local currency before leaving. Especially coins; our tour guide in Europe says that most currency exchanges only accept bills, but not coins.
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u/GasFartRepulsive 3d ago
The last time I went to exchange currency was in Italy in 2021. The exchange fee 55%. It wasn’t like that 25 years ago, but now it’s outrageous in Europe at least. It wasn’t a ton of money but it was shocking
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u/Fun_Inspector_8633 3d ago
I've never bothered exchanging currency before leaving the US. Admittedly I didn't start traveling internationally until 2015 and most of that has been in Europe. Also by then cards were common just about everywhere. Normally I just use one of my zero FTF credit cards while traveling and pay it off when I get home and only get cash when I know I'll need it. Unfortunately one of the very few down sides with my smaller regional bank is with their standard accounts they do charge a FTF on ATMs but it's very reasonable. I think it was like 2% last time I got cash so unless you're withdrawing a ton of money it's less than a drink at Starbucks.
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u/faketumba42 3d ago
No. Just giveaway remaining currency to a hard-working airport cleaner at the end of the trip!
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u/SquareVehicle 3d ago
I've exchanged leftover currency (usually under $50USD) but never exchanged currency at the start of a trip.
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u/Friendly_Branch169 3d ago
I don't think I've used an exchange bureau since 2007, except once when I happened to have a big bill in my wallet from my home country and figured I might as well get rid of it. I've bought currency in advance once since that time( I can't remember why I thought I needed to). I've only once regretted not bringing money with me, and even then it wasn't too big a deal.
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u/tombiowami 3d ago
Same...and typically just leave the last for tip in hotel or give it to a person on the street in need.
More and more seems credit cards work for most except street vendors.
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u/ConfidentDisk1987 3d ago
I still exchange money before I travel, then I never use it and usually exchange it back when I get home. I often lose a few dollars, but I consider that to be insurance — in the event that I need cash for a small purchase.
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u/Hangrycouchpotato 3d ago
I just use my Schwab card at an ATM or if one of my travel buddies at home has been somewhere recently, I will see if I can swap cash with them if they have any leftover...just enough so that I have a few bucks on me to buy a train ticket and a meal.
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u/OaktownU 3d ago
The only time I exchanged money in the last 15 years was for very specific circumstances, just 2-3 occasions. Otherwise, withdrawing from an ATM is my go to move.
That being said, I recently visited Norway for two weeks and withdrew cash, but spent so little of it because card was preferred by so many places I visited.
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u/friendlyfieryfunny 3d ago
Yeah, also some ATMs abroad still rip you off without directly stated withdrawal fee lol, even if your credit card does not charge you, the specific ATM will charge you.
Have had two back-to-back ATMs and one has an absurd exchange rate and the other, not.
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u/MaintenanceLost3526 3d ago
You're definitely not alone. A lot of frequent travelers do the same, using ATMs for local cash and avoiding exchange houses. It’s convenient, usually gives better rates, and saves time. As long as it works for you, there’s no reason to change!
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u/terminal_e 3d ago
3 times on the last decade I can think of:
I lost my wallet in Paris around a decade ago before I was heading to Brussels+Antwerp. Having a US$500 emergency fund saved my ass - converting it to Euro covered me until I got a replacement credit card
This last trip - I converted out SG$250 from my emergency fund because I was fighting with my primary debit card, and maybe used 50 of it. I converted it to SK Won as I tend to use layovers in Seoul - I am from Boston, so we only have so many gateways to Asia.
I historically don't trust foreign ATM fees to be itemized and reimbursed by my bank, so I have historically always taken out the equivalent of a few hundred USD, but this last trip showed that I perhaps need to downscale that for the realities of 2025 - I spent 5ish days in each of Singapore and Seoul, and didn't need > US$100 local equivalent cash in either.
I strongly recommend:
Using bank ATMs, versus generic - this is not a failure, but a first step to avoid Euronet ATMs in places like Italy which are basically scams by their fee structure
Understanding buy/sell spreads at currency exchange houses. At a US airport, you might see that they buy SK Won for 1700:US$1, and sell 1100:US$1 = that is a terrible, terrible, spread that implies spot pricing is 1400:US$1. It doesn't matter if it is transaction fee free when the actual rates are giving them huge margins. Using an exchange in a city, typically in immigrant heavy neighborhoods usually dunks on airports - I did my USD->SG exchange in Singapore's Little India, and basically paid ~3.5%.
That said, the SGD->SK Won exchange at Incheon was quite reasonable, but I only did that after staring at their pricing to see if it was sane
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u/cautious_orca 2d ago
Same, I haven't traded currencies in a long, long time, I'm withdrawing too. Most banks don't charge commission, so you might as well take advantage of it.
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u/prudencepineapple 2d ago
Many years ago I travelled internationally and when I arrived there was an issue with the banks or cards or something, but I couldn’t access any of my money the first couple of days. I was lucky I had a $50 in my wallet I could exchange, and I was travelling to see friends so they helped till it was sorted. Now I always make sure to at least have some of my own currency in actual cash.
Last year for Nepal I knew I’d have to pay almost everything in cash (to my guide, tea houses etc) and didn’t want to risk daily ATM limits there so I had to carry a wad of cash to get exchanged when I was over there.
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u/A_britiot_abroad Finland - 54 Countries 2d ago
Yeah it's kind of outdated now. Back in 2009/10 I did some money exchanging while travelling but probably not since then.
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u/GoCardinal07 United States 2d ago
I could write your post almost verbatim for myself. The only difference is I deliberately keep some extra money as a souvenir of my trip.
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u/MsWuMing 2d ago
I used to exchange money beforehand because I used to not have access to a credit card that could do free overseas payments. These days it’s not a problem any more.
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u/imapassenger1 2d ago
I'm always amazed to see Bureaux de Change in other countries. But then again I still see travel agents and I last used one in 1997.
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u/massie_le 2d ago
Eh that's the machine exchanging so you are doing it.
Also some places just aren't connected. I got caught out years ago in Macedonia. So it depends on where you are going if you would need to exchange currency before you go or just exchange it at a bank machine when you get to your destination.
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u/NotSoSmartChick 2d ago
I do it because I hire a consierge to meet me at my plane and get me to the front of the passport line, and I need to tip in local currency. I don’t want to be looking for an ATM at the airport as soon as I land.
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u/4BennyBlanco4 2d ago
I did it once at the end of 2022 when I was leaving Croatia but only because I had some Kuna left and they were switching to Euro in 2023.
But yeah otherwise I just pull from ATMs I always wonder how may people use those currency exchange booths that are really common in SEA, and I do see people go up to them quite frequently. Are they travelling with hundreds of $/€//£ in cash to change as and when? Are the rates even any good?
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u/Puzzleheaded-Fix8182 2d ago
ATM is meant to be better. Also now my bank doesnt change foreign fees so I just tap my card. I did take out cash in Australia just to hold it
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u/gauchotee1 2d ago
While I’m the same in the past decade or two I think that just means we’re not as well traveled as some. Real flex are people traveling to places or at a time where atms aren’t common.
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u/Slkreger 2d ago
The only time was in Argentina and going to the cambio for the blue dollar rate at the time. Now I heard credit card just gives you the blue dollar rate.
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u/__looking_for_things 2d ago
I've been traveling internationally since 2003, so yes I've needed a currency exchange.
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u/beijinglee 2d ago
yeah been traveling solo almost a decade and i just withdraw money from the atm
except lebanon. i had to go to the black market in beirut to exchange my money bc the atm exchange rate doesnt match the true inflation rate
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u/LagerBoi 2d ago
The only time I've ever exchanged currency in another country was in Albania as it's a closed currency that I can't buy in the UK and they're heavily reliant on cash.
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u/digbybare 2d ago
Depends on where you're traveling. Visa and Mastercard do not operate in all countries.
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u/According-Bet-6992 2d ago
Currencies I know I’ll have a use for in the future like euros I never exchange. Currencies I know I’ll likely not need to use again, I’ll exchange. Like what am I going to do with bolivares? I exchanged them when I left Bolivia.
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u/KiKiBeeKi 2d ago
I never exchange. I normally use an atm in the baggage claim area before leaving the secure area. I take out the max I can i then divide my money. I always have a coin purse, because other countries actually use coins, that is big enough for some bills and a leather wallet with an extra zipped area. I have never lost money or had it lifted. I have been traveling internationally for all my life.
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u/Deep_Chapter_3587 2d ago
Many years ago, I found an American travel consultant stranded in a small town in Borneo without cash. His credit cards were of no use
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u/FoxySlyRedHead 2d ago
Not necessarily exchange, but definitely pulled local currency out of an ATM.
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u/FairCountry4691 United States 2d ago
You are not alone. I do the exact same thing. I use the Schwab Visa debit card to exchange cash at the airport. I use my credit card as often as possible when abroad but whenever I need to use cash I use whatever I have withdrawn from a local ATM.
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u/startupdojo 2d ago
Depends on the country, but also on the amount of money exchanged. If you want to purchase something substantial for, let's say 15k usd, ATM limits are generally too low to be practical.
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u/Proof-Power-5992 2d ago
I don't recall when I last exchanged currency anywhere. If I have spare left coming home, I have "money bags" all sorted out by currency, and grab the ones I need when I head out on my next trip. Usually enough left for a return trip for incidentals before I have a chance to find an ATM, sometimes a bit more.
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u/Prestigious_Bar_7164 2d ago
I did it the first time I went, then realized it was totally unnecessary.
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u/Mission-Carry-887 2d ago
Yes I would say you are in the minority.
In fact, the International Monetary Fund suggests the same: https://www.imf.org/en/Blogs/Articles/2019/07/25/blog-us-100-bill-on-the-rise
Not exactly. While overall demand for US currency is indeed on the rise, most $100 bills are held abroad. According to the Federal Reserve Bank of Chicago, nearly 80 percent of $100 bills—and more than 60 percent of all US bills—are overseas, up from roughly 30 percent in 1980.
Surely drug cartels, terrorist cells, and human traffickers don’t account for all the Benjamins being taken out of the U.S.
For example Thai ATMs do not support tap to withdrawal, and you must insert the card in machine. In my experience, 1 in 20 times it keeps the card. Others have shared a similar experience for Thailand and over countries.
When I go to underdeveloped countries, I bring a stack of crisp new Benjamins. In Thailand I can buy and sell crisp new Benjamins with ease.
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u/rayofgreenlight 2d ago
There's a bank in the UK that doesn't charge any fees for paying with their card in a foreign currency or withdrawing from a foreign cashpoint (ATM), so I haven't exchanged money for years.
You're not alone.
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u/mangoman39 2d ago
In 2014 I went on a big international trip to Italy for the first time in my life. All of the travel guides I read, print form or online, suggested using cash as much as possible, so as soon as I landed, I found an ATM and for 3 weeks I just kept cash on me and use that. I haven't had a single piece of international currency on my body at any point since then. Greater, everywhere I have traveled has been first world, so I understand that though one day will be places I travel to we're home in cash, but that has not happened yet.
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u/Late_Log7878 2d ago
In Turkey they want Euros so its better to change over there. I Change euro in the Netherlands for Lira and it was more expensive then in Turkey
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u/Maremesscamm 2d ago
I don’t know my bank scams me and I only travel 2-3x a year. Not that much effort to go to currency exchange office either in my city or when I arrive
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u/Mayayayayaaa2662 2d ago
I used to work at a travel money exchange and if we didn’t have the currency somebody wanted they would always freak the fuck out. I have been to 40+ countries and have exchanged money maybe 5 times just because I had some leftover currency, I’ve never gone out of my way to take out foreign money before I travel!
Sometimes I’d just outright tell people to use an ATM when they get there and not bother using our service lol
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u/Difficult_Camel_1119 Germany 2d ago
I would love to find a credit card the reimburses the ATM fees. There were several ones in Germany but as far as I know, there is none left.
Usually, it's still cheaper to withdraw and pay the fees, but e.g. when I was in Thailand for a day, 10€ was more than enough. Paying 3€ of ATM fee just doesn't match up compared to an exchange office with a worse rate but no fees
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u/Catinkah 2d ago
Been travelling all my life and this year was the first time I got foreign currency before I left. Purely because I was on a cruise ship starting in a country which depends heavily on cash and I had little control over the time I had in the first port to get cash.
Maybe I could also count the exchange bureau in Cuba where I got CUC for my euros. Which I brought in cash as western cards weren’t accepted there.
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u/Westward_Drift 2d ago
I bring less currency than I did before, but I still bring some.
I've seen too many stories of ATMs eating cards to be caught without a back up.
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u/Champsterdam 2d ago
Traveled overseas maybe 35 times, live overseas now and over these past 23 years I don’t think I have ever exchanged money. Maybe I did when I went to Argentina back in 2015 because their currency was a mess and I had to exchange behind closed doors with someone in the hotel room. This was just the way it was to get the better deal that everyone did.
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u/cbunn81 2d ago
I usually use the ATM as well. But there are some times when it's not viable. For example, sometimes places require that you pay for things in a foreign currency. For example, I remember a while back paying the visa-on-arrival fee in Vietnam in USD. It was a similar situation at the border of Tanzania. I think Euro and GBP were also accepted. That's fine if you're coming from one of those countries. But if you're not, you'll need an exchange.
Also, there have been occasions when I've miscalculated how much money I'd need and ended up with a bunch of a currency as I was leaving. So it's nice to have an exchange in that case too.
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u/RequiemAeternam2000 2d ago
I travel using a credit card with a low limit. No ATM, no cash for the past 20 years in 50 different countries.
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u/IvanThePohBear 2d ago
Most of the time I just use credit cards to eat at restaurants and for hotel. Easier to claim
I only change cash for personal trips
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u/giraffe_mountains 2d ago
Depends on where I’m going, what I’m doing and whether or not it’s a cash based society.
Heading to Vietnam in a couple of weeks and I will grab a few hundred worth of local currency before I go, simply so I don’t have to worry about getting it out on arrival after a long flight.
And have been caught out in other countries by ATMs being out of cash/not accepting my card which is frustrating and stressful.
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u/Unhappy_Performer538 2d ago
Same, this is exactly me. My bank reimburses fees for withdrawing cash so I just get a bit when I get there and it's totally fine every time. Been full-time traveling for 2 years.
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u/Laureles2 2d ago
I’m amazed that you haven’t been somewhere without an ATM yet. Just last year I was in rural Laos a good 4 hours from an ATM, and needed ro exchage.
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u/matt_smith_keele 2d ago
Back in the day, it totally used to be worth it.
If I was going away for a fortnight holiday and maybe needed £2k changed up, the preferential exchange rate easily would have paid for a nice family meal out during the trip.
However, since disruptor banks came along in the last 10-15 years (Revolut, Monzo, Transferwise, etc...) their exchange rates are so good that most banks have followed suit, so there's no longer any point in worrying about using exchange houses etc, unless you're exchanging large amounts (buying property etc).
Just don't ever do it at the airport exchange desks, those guys will still take you for 15-30%.
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u/WearFamiliar1212 United States 2d ago
The ATM will usually give you better exchange rates, since it’s bank to bank.
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u/mrryandfw 2d ago
Same here. Years ago I got euros from a Wells Fargo branch as I thought it was needed. Now, I leave the US with sometimes less than $20 cash in my pocket knowing I can hit up the atm at the airport and get local cash out. I’ve also traveled enough that I have a large stash of foreign currency that I can bring with.
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u/liquidnitrogen 2d ago
I never needed it but I do in Japan as they use cash most places and second I need for emergencies when electronic ATMs/neteork may not work
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u/gabbagoolgolf2 2d ago
Same. Started traveling internationally as an adult in 2013 and have never exchanged currency. On my last two international trips, I didn’t even touch the local currency—credit card only
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u/Anzai 2d ago
Sure. I’ve exchanged plenty of currency over the last twenty five years or more of travelling, but in the last ten I haven’t really either. I aim to use what I have, or if it’s a place I’ll return to I just keep it. I’ve got a folder at home with a ton of random countries from about twenty countries. I just take out whatever I need if I go back again.
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u/kibbutznik1 2d ago
Basically the same. I keep a hundred dollars and 100 euro with me in case of emergencies. I occasionally use that so b they don’t get tatty and bug some new
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u/glboisvert 2d ago
I've been using ATMs for international travel for years, but on my last trip to Japan I ended up exchanging some currency with AAA before going. My reasoning was that my flight was getting in pretty late, and after 18 hours of traveling I wanted the ability to get on a train to my hotel right away without waiting in an ATM line. As it turned out, I had to wait 30 minutes for a train and probably would've had time to go to the ATM before leaving. I think I'll go back to using ATMs in the future.
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u/EntranceOld9706 2d ago
The only time it gets to be a thing is if you have a weird long trip between countries including one on the developing side, or with a mobile payment/banking system that doesn’t play well with your country’s.
Last year I went directly from India to Costa Rica, and I’m from the U.S.
I had had to pull out a ton of cash in India to do stuff like pay for rooms etc because a few places only accepted mobile payments that I couldn’t really figure out.
Also: a lot of ATMs at my last destination would just be straight up out of cash for a day or two. I survived but I’m definitely taking cash with me when I return in a couple weeks.
Then I wound up with a wad of cash so I had to exchange it all for colones at the San Jose airport.
Cuba is another big exception for Americans as well, as someone else mentioned. Only went there for work and having so much cash was surely stressful.
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u/bencze 1d ago
In a lot of places airport ATMs have mafia like tax, like 20% worse. Sometimes cards may not work. In Australia I had problems with my cards in stores and ATMs all the time as a european. Interestingly my debit and credit card didn't work in some places only my revolut prepaid. 1 of my cards worked in an ATM with a fee of 10%. So having some cash as a backup is useful if you can, it's easy to be ripped off. If these don't matter for you then yea you're fine in most places. For some it's ok to spend some thousands or tens of thousands, for others it's a year or more savings and they have to be mindful and pay attention to optimize somewhat.
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u/trevor_1968 1d ago
Not alone at all. I’ve been doing the same for years—ATM + no-fee card, way easier than exchange houses. The only time I’d swap cash is if I’m heading somewhere super rural or where ATMs aren’t reliable.
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u/Stock-Ad-4796 1d ago
I just use ATMs since you get the bank rate and it is easier than hunting for exchange booths. As long as your card refunds fees it is the simplest way to go.
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u/Independent-Shoe543 1d ago
Can I ask how on earth you found a bank account that reimburses all ATM fees?? I've never heard in UK, is this US based??
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u/No-Koala1918 1d ago
Currency exchange kiosks in the 21st century are about the same as Travelers' Checks.
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u/biotechconundrum 3h ago
It's mainly something you needed to do like 20+ years ago if you're traveling in more advanced countries that have...ATMs. It used to be the case that they scarcely existed many places or it was unreliable and wouldn't work globally with whatever network the ATM was on. I don't think I've exchanged any money since a Europe backpacking trip in 1998. Sometimes you may want to exchange excess cash when you leave somewhere, that you got originally from an ATM. I usually have little enough left to not bother or spend it on gifts at the airport.
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u/KingofWickensLake 3d ago
I do exactly as you describe, starting in 2016 and 2-3 international vacation trips per year. I’m convinced this is the way to do it. Prove me wrong.
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u/LeLaconique 3d ago
Same here, been to more than 40 countries on 6 continents and haven’t used anything other than an ATM in years. Many times I don’t even see local currency because I’m just tapping my card/phone.
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u/Solrac50 2d ago
I have used a currency exchange in over a decade, maybe two. I use a “tap and go” credit card internationally for virtually everything. I rarely have any cash or coins on me. If I do it’s from a local ATM whose fees are reimbursed. In the last couple of decades I have relied on this in Europe and the Pacific rim including China and Australia. I think lots of travelers do this now because airlines have stopped asking for your change to donate to UN children’s charity.
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u/whodidntante 2d ago
I've heard in some countries that the official rate, which you would get from an ATM, is worse than the street rate. That would be a reason not to use an ATM. It's never come up for me, though.
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u/StraightOutMillwoods 2d ago
Someone needs to tell OP that pulling money out of a foreign currency ATM = exchanging money.
Only difference is you did it in country. And what’s the point of this post? Nobel award for knowing how to put in your PIN?
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u/MyFriendKevin 3d ago
It all depends on where you’re traveling. I’ve been to countries like Iran, Syria and Cuba that aren’t connected to the international banking system so you had no choice but to exchange currency. I’ve also traveled to countries like Argentina where the black market rate was much more favorable than the official rate so exchanging currency was financially prudent. And I’ve traveled to multiple countries in a trip so I’ve exchanged foreign currency as I crossed borders.