Travel Money Guide 2026

Updated July 2026 · Sources: NerdWallet, Bankrate, Wise, Consumer Reports

Ranked: Best to Worst Ways to Get Foreign Currency

1. No-Foreign-Transaction-Fee Credit Card (Best)

The single best way to pay abroad is with a credit card that has no foreign transaction fee and uses the Visa/Mastercard exchange rate (typically within 0.1-0.5% of the mid-market rate). You get near-interbank rates, fraud protection, and rewards points.

Card	Annual Fee	Foreign Transaction Fee	Rewards Abroad	Best For
Chase Sapphire Preferred	$95	0%	2x travel/dining	General travel
Capital One Venture	$95	0%	2x all purchases	Simplicity
Amex Platinum	$695	0%	5x flights/hotels	Frequent flyers
Discover it Miles	$0	0%	1.5x all purchases	No annual fee
PenFed Platinum	$0	0%	None	Basic, no fee

Rates and fees as of 2026. Always verify current terms before applying. Cards with no FTF are increasingly standard—most travel-focused cards now offer 0% foreign transaction fees.

Pro tip: Always choose to pay in the local currency when the terminal asks (see DCC section below). Let your card issuer handle the conversion—they will give you a better rate than the merchant's DCC provider.

2. No-Foreign-ATM-Fee Debit Card (Excellent)

For cash needs (taxis, street markets, small vendors), use a debit card that reimburses ATM fees worldwide. You pay the interbank rate plus a small network fee (typically 1% for Visa/Mastercard).

Account	Monthly Fee	ATM Fee Reimbursement	Foreign Fee	Best For
Charles Schwab High Yield Investor	$0	Unlimited worldwide	0%	Best overall
Fidelity Cash Management	$0	Unlimited worldwide	0%	Investors
SoFi Checking	$0	Unlimited worldwide	0%	Digital-first
Alliant Credit Union	$0	Up to $20/month	0%	Credit union

ATM strategy: Withdraw larger amounts less frequently to minimize flat ATM fees (if your bank does not reimburse). Avoid ATMs in hotels, airports, and tourist areas—they often have higher fees. Use bank-branded ATMs (e.g., Deutsche Bank in Germany, BNP Paribas in France) for lower fees.

3. Pre-Order Currency from Your Bank (Good)

Most major US banks (Chase, Bank of America, Wells Fargo, Citi) allow you to order foreign currency online or in-branch with 1-3 business days delivery. Rates are typically 2-4% above mid-market—better than airport kiosks but worse than credit cards.

When to use: If you need cash immediately upon arrival (e.g., arriving late at night, traveling to a country with limited ATM access like rural Vietnam or parts of Africa). Order $200-500 worth to cover your first 24 hours, then use ATMs for the rest.

Bank	Markup vs. Mid-Market	Delivery Fee	Min. Order
Chase	2.5-4.0%	$0 (branch) / $7.50 (delivery)	$100
Bank of America	2.0-3.5%	$0 (branch) / $7.50 (delivery)	$100
Wells Fargo	2.5-3.5%	$0 (branch) / $8.00 (delivery)	$100
Citi	2.0-3.0%	$0 (branch) / $10.00 (delivery)	$100

4. Online Currency Exchange Services (Fair)

Services like Wise (formerly TransferWise), Revolut, and XE allow you to order currency online and receive it by mail or pick up at partner locations. Rates are typically 0.5-1.5% above mid-market, with delivery fees of $5-15.

These services are best for large amounts ($1,000+) or when you need physical cash in a specific currency that your bank does not stock. For small travel amounts, the delivery fee often makes this more expensive than ATM withdrawals.

5. Airport Currency Exchange Kiosks (Poor)

Airport kiosks (Travelex, ICE, local operators) are the most expensive way to get foreign currency. They exploit travelers who need cash immediately and have no other options.

6. Hotel Currency Exchange (Very Poor)

Hotels that offer currency exchange typically charge 8-15% above mid-market. They know you are captive and need cash. Only use in emergencies—and even then, exchange the minimum amount needed.

7. Dynamic Currency Conversion (DCC) — The Hidden Trap

Dynamic Currency Conversion (DCC) is the single biggest trap for travelers. When you pay with a card abroad, the merchant's terminal or ATM may offer to charge you in your home currency (USD) instead of the local currency (EUR, JPY, etc.).

Always decline DCC. The merchant's DCC provider sets the exchange rate, which is typically 3-7% worse than your card issuer's rate. On a €500 purchase, DCC might cost you an extra $15-35.

Cost Comparison: $1,000 in Euros

Here's what you actually receive when converting $1,000 to euros using different methods (assuming mid-market rate of 1.09 USD/EUR = €917.43):

Method	Rate Used	Markup	€ Received	Cost vs. Mid-Market	Rating
No-FTF Credit Card	1.0915	0.14%	€916.17	$1.15	★★★★★
No-FTF ATM (Schwab)	1.0950	0.46%	€913.24	$3.85	★★★★★
Bank Pre-Order	1.1200	2.75%	€892.86	$24.57	★★★☆☆
Online Exchange (Wise)	1.0980	0.73%	€910.75	$6.68	★★★★☆
Standard Credit Card (3% FTF)	1.0915 + 3%	3.14%	€889.48	$27.95	★★☆☆☆
Airport Kiosk	1.2000	10.1%	€833.33	$84.10	★☆☆☆☆
Hotel Exchange	1.2500	14.7%	€800.00	$117.43	☆☆☆☆☆
DCC (3.7% markup)	1.1303	3.7%	€884.96	$32.47	★★☆☆☆

Rates are illustrative based on 2026 typical spreads. Actual rates vary by provider, date, and location. No-FTF credit cards and Schwab/Fidelity ATM cards consistently offer the best value.

Travel Money Strategies by Trip Type

Short City Break (3-5 Days, Western Europe/Japan)

• Primary: No-FTF credit card for 90% of spending (restaurants, hotels, shops, transport)
• Cash: Withdraw €100-200 from a bank ATM on arrival for small purchases, tips, and emergencies
• Pre-trip: No need to pre-order currency—ATMs and cards cover everything

Extended Backpacking (2-4 Weeks, Southeast Asia/South America)

• Primary: No-FTF debit card (Schwab/Fidelity) for ATM withdrawals every 5-7 days
• Credit card: Use for hotels, large purchases, and online bookings
• Cash: Carry $200-300 USD as emergency backup (widely accepted in emergencies)
• Pre-trip: Notify your bank of travel dates to prevent card blocks

Business Travel (Frequent, Multiple Countries)

• Primary: Premium no-FTF card (Amex Platinum, Chase Sapphire Reserve) for rewards and lounge access
• Secondary: No-FTF debit card for cash and countries where Amex is not accepted
• Multi-currency account: Consider Revolut, Wise, or HSBC Global Account for holding multiple currencies and avoiding conversion on every trip

Remote/Adventure Travel (Limited Infrastructure)

• Primary: Cash in local currency and USD as backup
• Pre-trip: Order currency from your bank or use Wise/Revolut to hold local currency
• ATMs: May be scarce—carry enough cash for 3-5 days
• Security: Split cash across multiple locations (money belt, hotel safe, day bag)

Additional Tips to Save Money

1. Always pay in local currency. When a terminal asks "Would you like to pay in USD?" — always select "No" or the local currency option. This avoids DCC.
2. Decline ATM conversion offers. Some ATMs abroad offer to convert the withdrawal to your home currency. This is DCC at the ATM. Always select "No" or "Continue without conversion."
3. Withdraw larger amounts. If your bank charges a flat ATM fee (e.g., $3-5 per withdrawal), withdraw $300-500 at a time rather than $50-100. The fee is the same regardless of amount.
4. Use bank-branded ATMs. ATMs attached to major banks (Deutsche Bank, BNP Paribas, Barclays, etc.) typically have lower fees than independent ATMs in convenience stores or tourist areas.
5. Notify your bank before traveling. Card blocks are common when your card is used in a new country. A 2-minute call or app notification prevents this hassle.
6. Carry a backup card. Keep a second no-FTF card in your hotel safe. If your primary card is lost, stolen, or blocked, you have a backup.
7. Check your card's travel insurance. Many premium travel cards (Chase Sapphire, Amex Platinum) include trip cancellation, rental car, and medical evacuation insurance. Know your benefits before you travel.
8. Consider a multi-currency card for frequent travel. Revolut, Wise, and similar services let you hold 20+ currencies and convert at interbank rates. Useful if you travel to the same countries repeatedly.
9. Monitor exchange rates before your trip. If the rate is favorable, consider exchanging a portion of your budget in advance. If it is unfavorable, rely on cards and ATMs and hope for improvement.
10. Keep receipts for large purchases. Some countries offer VAT refunds for tourists on purchases over a threshold (e.g., €100+ in the EU). You will need receipts to claim the refund at the airport.