NWR- Currency Exchange

lcarp203

I was wondering if anyone has exchanged currency here in PHX prior to traveling out of the country.  I would like to avoid exchanging it at the airport because from the research I have done they have the worst exchange rate.  Is there anywhere here in town that I can exchange currency? TIA!

sms274

any bank will exchange currency for you usually... I tend to just wait until I am there and use the ATMs in that country (outside of the airport), you typically get the best rate directly from the bank, but you may also wind up paying a transaction fee depending on the bank you are with...

kristinmcclaff

Your U.S. bank will exchange it for you but may need a little extra time to order it, depending on what kind of foreign cash you need to buy.  As a general rule, banks and post offices will have the best rates, airports and other touristy places are the worst.  You'll get the best interbank rate when you buy the currency with an ATM or credit card, but those added transaction fees and/or interest negate the savings.  One piece of advice: inform your credit card companies and bank of your travel dates.  Most companies track ‘unusual transactions’ and will put a stop on your card after you use it abroad.  I've had that happen even after notifiying them in advance.