Do you travel internationally? How to order foreign currency in advance.

Do you have a big international trip on the horizon? Before you leave, consider converting some of your money to the local currency of your destination before you leave. Airport exchange rates are often unfavorable and you may need cash to take a taxi or grab a bite to eat when you arrive.

Obtaining foreign currency in advance can also help you avoid scams targeting tourists. Regardless of the destination, carrying some of that country’s currency can help you be prepared and protect you from scams. Follow this step-by-step guide to be ready when the big day arrives.

Purchasing foreign currency before taking an international trip can be convenient. Follow these steps to ensure you have cash in the correct currency before you begin your trip:

1. Identify your destination: While some countries have common currencies such as the euro, many have their own single currency. Knowing your destination will help you identify the currency you need.

2. Research exchange rates: Some currencies have similar values ​​to the US dollar, but others may differ substantially. If you know what currency you need, check its exchange rate with the dollar.

3. Compare rates at exchange houses: Check your currency rates at your bank, local currency exchanges, and online currency exchange services. If you plan to convert a large amount of cash, a seemingly small difference in fees can be significant.

4. Place your order: After determining who has the best exchange rate, place your order. You will need to share some details, such as the currency you want to buy, the amount, and the delivery method. For example, physical locations may allow you to choose in-person pickup or home delivery.

5. Confirm your order and pay: Before completing your order, please check the exchange rate again and confirm that it matches the expected exchange rate. If so, confirm the order and make your payment.

If you order currency in person, ask the representative if there are any transaction fees or shipping charges. If possible, please use a free payment method, such as a bank transfer or debit card, when paying for your order. It’s always preferable to keep fees low, so it’s a good idea to check for additional fees at each step.

We’ve looked at a few reasons why you might want to buy foreign currency beforehand, but there can be pros and cons, like all financial services.

Advantages

• Convenience: Purchasing foreign currency in advance allows you to pay for transportation, meals, and tips upon arrival.

• Avoid high fees: Having foreign currency beforehand can help you avoid paying high fees at the destination airport or at an ATM.

• Avoid scams: Buying foreign currency in advance can help you avoid scams. For example, you could unknowingly buy counterfeit money or pay terrible fees without realizing it.

• Be ready: Some merchants may not accept card payments abroad. Having foreign currency helps ensure that you will always be able to pay.

Cons

• Rate fluctuations: If the foreign currency weakens compared to your currency between your trip and the time of purchase, you could miss out on potential savings.

• Fee: Banks and exchange houses charge fees for converting currency, which can sometimes be a significant expense. You may be able to save money by using a credit card with no foreign transaction fees and withdrawing cash at local ATMs.

• Time and planning: We are all busy and you should take time out of your day to buy foreign currency. But more than that, processing a foreign currency order can sometimes take a few days, so it may not be a viable option at the last minute.

• Carrying cash can be risky: Replacing lost or stolen cash is nearly impossible. Therefore, it can be dangerous to carry a lot of cash, especially when traveling to countries where pickpockets are prevalent. However, you can reduce your risk by limiting the cash you carry and keeping it hidden when you’re out and about.

There are certain steps you can take to get the most out of your conversion. One of the most important things to do is research exchange rates.

Rates change frequently and you never know what the future holds. Still, keep an eye on fares in the weeks before your trip and compare them to previous fares. If you find that at a certain time rates are favorable compared to the recent past, it may be a good time to continue your foreign currency purchase.

Once your trip begins, another trick is to always pay in the local currency if you use a card. Some merchants may offer dynamic currency conversion (DCC) at checkout, but this often comes with unfavorable exchange rates and additional fees. You can always do a quick calculation on your phone to see how much the total is in US dollars to avoid this expensive service.

You can also bring a travel credit card to supplement your cash. Not all foreign stores accept card payments, but many do. Carrying a card with no foreign transaction fees can help you reduce your reliance on cash and pay fewer currency conversion fees.

Read more: Best Travel Credit Cards for 2025

While it’s a good idea to carry at least some of the local currency with you, there are some drawbacks to requesting foreign currency in advance.

A simple alternative is to withdraw local currency from an ATM in the destination country with your debit card. This means you won’t have cash at the start of your trip, but ATMs typically have competitive conversion rates and are often widely available. (You may want to avoid ATMs at the airport and other major tourist destinations, as they will likely charge higher fees.) If possible, use a debit card that doesn’t charge foreign transaction fees, which can save you around 3% with each withdrawal.

You can also rely on a credit card to spend while you travel. This reduces the need to carry cash and credit cards have strong protection against fraud. However, there may be situations where you can’t use a card, such as paying for a taxi or tipping a tour guide. That is why it is recommended to carry at least some cash at all times.

Another alternative that is increasingly common are mobile payment applications. This includes digital wallets like Apple Pay, Google Pay, as well as peer-to-peer payment apps like Venmo, PayPal, and Cash App. Other countries may have different apps, such as WeChat Pay and Paytm. These applications are generally safe and convenient. However, they may not be accepted everywhere and may require an Internet connection to use. That can cause a problem if you haven’t purchased a local SIM card or data plan.

Read more: Is it safe to store money on apps like Venmo, PayPal, and Cash App?