{"id":32794,"date":"2025-12-22T11:17:42","date_gmt":"2025-12-22T10:17:42","guid":{"rendered":"https:\/\/www.recharge.com\/blog?p=32794"},"modified":"2025-12-22T11:17:42","modified_gmt":"2025-12-22T10:17:42","slug":"avoid-high-currency-exchange-fees","status":"publish","type":"post","link":"https:\/\/www.recharge.com\/blog\/en-gb\/avoid-high-currency-exchange-fees","title":{"rendered":"Traveling for the Holidays? How to Avoid High Currency Exchange Fees"},"content":{"rendered":"

Whether you\u2019re planning an exciting trip away, visiting friends and family, or heading back home for the holidays, international travel during the festive period can be expensive \u2013 especially when it comes to currency exchange. Fees, hidden charges and high exchange rates can quickly drain your budget.\u00a0<\/span><\/p>\n

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But, in dealing with foreign exchange rates, holiday travel needn\u2019t break the bank. Discover the best savvy strategies to help you save money and avoid exorbitant fees when spending abroad \u2013 including choosing the best no exchange fee credit cards and finding the lowest-cost ways to exchange currency \u2013 so you\u2019ll have more spending money to enjoy your festive travels.<\/span><\/p>\n

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What is the best and cheapest way to exchange currency?<\/b><\/h2>\n

Travelling abroad is expensive enough, so it makes sense to save where you can. Get the most for your money by finding the best exchange rates on offer.<\/span><\/p>\n

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Ahead of your trip, shop around to find cheap travel money. Sites like <\/span>Money Supermarket <\/span><\/a>and\u00a0 <\/span>Travel Money<\/span><\/a> are a good place to start. They offer comparisons on cash, travel cards and even buyback. Your bank, supermarkets and online providers are other good places to look and compare rates. If you have a specific account or loyalty card, you\u2019ll often find you\u2019re offered preferential rates, too.<\/span><\/p>\n

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Travel Tips to Avoid Currency Fees<\/b><\/h2>\n

Find travel-friendly options<\/b><\/h3>\n

Look for a no foreign exchange fee credit card or a debit card with favorable exchange rates. Worrying: \u201cHow do I tell if my credit card has foreign transaction fees?\u201d Don\u2019t worry \u2013 simply check your card\u2019s terms or monthly statement.\u00a0<\/span><\/p>\n

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Be country-specific<\/b><\/h3>\n

When travelling abroad it\u2019s not always clear if it\u2019s better to sort your currency ahead of time, or to do it when you arrive. For example, when thinking if it\u2019s cheaper to get euros in the US or in Europe, many would assume it makes sense to get them before travelling. But, while it may help you feel more organised, it\u2019s sometimes not as cost-saving as you\u2019d think.\u00a0<\/span><\/p>\n

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So, if you\u2019re travelling to Europe and wondering: \u201cwhere is the best place to get euros before a trip?\u201d You might be surprised. Financial provider <\/span>Western Union advises<\/span><\/a> that for a better exchange rate, those coming from the US should get their money in Europe, claiming: \u201cGetting euros in the US will likely yield a worse exchange rate\u201d. So, it really depends on where you\u2019re heading (and which country you\u2019re travelling from, too).<\/span><\/p>\n

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Stick to the local currency<\/b><\/h3>\n

When paying using a card or withdrawing from an ATM, always do so in the local currency. For example, if you\u2019re using a US credit card abroad and wondering: \u201cis it better to charge a credit card in USD or foreign currency?\u201d The answer would still be to opt for the foreign currency. This allows your bank to handle the currency conversion, giving you a better rate on your exchange and helping you save on conversion fees.<\/span><\/p>\n

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Avoid tourist hotspots\u00a0<\/b><\/h3>\n

Where to exchange currency without paying huge fees? Avoid airports and hotels; instead use local ATMs or online exchange services like <\/span>Revolut<\/span><\/a>. Exchange booths are another place to avoid \u2013 while often conveniently located, the rates are usually poor. You could find yourself paying fees and hefty commissions, too.<\/span><\/p>\n

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Is there a way to avoid currency exchange fees?<\/b><\/h2>\n

When using money abroad, it can feel like it\u2019s impossible to avoid a currency exchange rate fee. But, there are some providers that forgo the usual fee charged for exchanging currencies\u200b.<\/span><\/p>\n