You're back in the United States after traveling overseas or perhaps you are traveling to the United States from another country and you have foreign money to exchange. Where can you go and how do you make sure you will get a fair exchange rate? Look up the current exchange rate on the Internet before you need to make the exchange. Having this information ahead of time will ensure that you get a fair exchange and allow you to evaluate any fees or commissions you are charged.
STEP 1
Go online and find the current day's exchange rate. A number of websites offer this information. Just type the amount of money you want to exchange into the correct field on the website and then select what you want to change it into. For example, if you have $1,000 euros that you want to exchange for $1,000 US dollars, you would insert those currencies in the correct field. This will ensure that you get the correct exchange rate at whatever institution you choose to make your exchange
STEP 2
Wait until you get to your destination before you exchange your money. Most large airports will have a currency exchange desk but you will most likely get a better rate from a bank once you arrive in the town in which you will be staying. Call local banks in the area in which you are staying, if you are unable to access the Internet. The hotel you are staying in should be able to direct you to a bank or other company that exchanges currency.
STEP 3
Walk into the bank you have chosen to exchange your currency in (you can check the bank's website ahead of time to make sure it can do the exchange as not all banks in the United States will be able to change currency) and ask at the desk to exchange your currency. You may have to go to a specific teller. Ask what the bank is using for an exchange rate and ask what fees you will be charged.
STEP 4
Make your exchange. You will need to show your passport (or driver's license if you are a US resident). If you are exchanging a large amount, you may want to purchase traveler's checks to carry around. Once the exchange is made, count your money and get a receipt.
