What's the best type of place to exchange foreign currency?
I've exchanged currency at a local bank and received considerably less than rates indicated. I've seen currecny specialized exchange locations in other countries; might there be a trustworthy establisment here in the States?
Public Comments
- They should be exchanging at that day's current rate.
- try the airport its called travelex
- I do all mine online. Just type in forex in google, and you will get tons of sites about it; however I would suggest you check out www.fxstreet.com they have all kinds of info for you. Good Luck :)
- There is a recent NYTimes article on just this subject. The link is below in the source list. Just as you found, the reporter noted that banks charge some of the highest fees to exchange money. The best deal was to be had by using ATM cards and Credit Cards for purchases while abroad. When you do have to exchange, exchange large amounts all at once (as opposited to paying a separate fee for lots of small exchange transactions.) That said, here in the States if you aren't using a bank your options are basically: Travelex (as people have already mentioned) To find an office near you go to: http://www.travelex.com/us/ (at bottom of screen select "Find a Travelex Branch") American Express Travel Services - To find a location go to http://www134.americanexpress.com/travel/CTNWTServlet?request_type=tsofinder&ctrywrap=us As far as I know, these locations only exchange cash. Coins are always a problem. I don't know of anyone that will buy back coins (if anyone has any ideas- I'd be interested.) However, UNICEF accepts donations of foreign coins as part of their Change for Good program. It won't get your money back, but you'll get a warm fuzzy feeling and you can deduct it from your taxes. http://www.unicefusa.org/site/c.duLRI8O0H/b.25945/k.D3A9/Foreign_Currency__Other_Ways_to_Give__Donate__US_Fund_for_UNICEF.htm
