How to Get the Best Exchange Rate When Travelling
The exchange rate on the news and the rate you actually get on holiday are rarely the same number. The gap is where banks, bureaux and card companies quietly make their money. Here’s how to shrink it.
1. Know the mid-market rate first
The mid-market rate is the “real” rate — the midpoint between buy and sell, with no margin. Everyone else adds a spread on top. Before you travel, check the true rate on our live converter so you can spot a bad deal instantly. If a booth offers you 10% worse than mid-market, you now know to walk away.
2. Avoid airport currency desks
Convenience has a price, and at the airport it’s steep — spreads of 10–15% are common. If you must, change just enough to get you to your hotel and sort the rest later.
3. Beware “0% commission”
“No commission” doesn’t mean no cost. These booths simply bake their profit into a worse rate instead of a separate fee. Always compare the rate, not the fee.
4. Say no to “pay in your home currency”
When a foreign card machine or ATM offers to charge you in your own currency (called dynamic currency conversion), decline and pay in the local currency. Choosing home currency lets the merchant’s bank set a lousy rate. Local currency lets your own bank convert — almost always cheaper.
5. Use a low-fee card
Several modern debit and travel cards convert close to the mid-market rate with little or no foreign-transaction fee. For most travellers, a good card plus a small cash buffer beats carrying lots of pre-exchanged cash.
The theme is simple: the rate is the thing to watch. Know the mid-market number, and every markup becomes obvious.