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For many of us who are first-generation Americans, financial literacy isn’t something we learn from our parents - and we’re definitely not taught about money...
In this guide, we’ll run through how to get Euros in the US without paying huge fees. This includes banks, currency exchange services and clever alternative solutions such as the Wise Card.
The Wise Card lets you spend and withdraw cash in Euros without needing to change any money, and it gives you the mid-market exchange rate whenever you spend.
There are a few different ways you can buy foreign currency for your trip while still in the US.
But before we run through them, a quick word on what to avoid.
Airport kiosks, hotels and tourist centers are all generally considered to be very expensive places to change currency. They tend to charge high fees, or offer you very unfavorable exchange rates - or both.
So, it’s best to plan ahead to sort out your travel money.
You can often buy Euros and other foreign currencies from your bank, although be aware that they may not offer the most competitive exchange rates.
The exchange rate makes more difference to the overall cost of buying travel money than you might think. A provider may offer low or no fees, but an unfavorable exchange rate means your money doesn’t go as far. You’ll end up with fewer Euros for your dollars, making it more expensive all round.
So before buying, make sure to compare the rate you’re offered with the mid-market exchange rate. This is the one you’ll see on Google or currency sites like XE.com.
Here are a few options:
Another option is to use a currency exchange or travel money provider, which lets you order online for home delivery or collection.
Just like banks, these may not offer the best exchange rates. However, they could be a decent option if you’re in a hurry and need a quick, convenient way to get hold of travel money.
One of the largest and most popular places to buy travel money in the US is Currency Exchange International (CXI). You can order over 90 currencies online, including Euros. CXI also has around 30 branches in major cities across the US⁴.
Here are the key facts you need to know about CXI⁴:
We’ve looked at providers such as banks and currency exchange services for buying Euros before you travel. But there is another option - the Wise card.
With the Wise Card in your wallet, you don’t need to convert currency, carry cash around or get stung on exchange rates. It’s the convenient, low-cost way to spend while you’re traveling.
You’ll need to compare exchange rates and fees for your bank with currency exchange services such as CXI. But a travel card such as the Wise international debit card can be a cheaper option, offering low fees and fairer, margin-free exchange rates.
The US Postal Service (USPS) offers international money transfer services, but it doesn’t sell foreign currency.
Yes, you can buy Euros from many US banks, and some will even deliver to your home address (usually for a fee).
Unless you have a multi-currency card such as the Wise card, it’s a good idea to buy your foreign currency before you travel. This is because it can be very expensive to change currency at airports and hotels, where you’ll often get poor exchange rates and pay high fees.
Sources used for this article:
Sources checked on 18-Jan-2023.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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