Transaction fee: Banks and credit unions often charge a fixed fee or variable commission onto every currency conversion you make.It is far from the cheapest way to get convert money because of the following three fees: This popular (but expensive) way to convert money will get you a physical stack of foreign currency banknotes. 3 Bank and Credit Union Currency Exchange Fees You can exchange money this way either before you travel or during your trip at a credit union, bank, or bureau de change - both commonly found in airports and foreign cities. Oliver Cole on Unsplash Option 1 - Use a Bank or Credit Union Currency ExchangeÄespite commonly given advice, banks and credit unions are rarely the best places to exchange currency nor are they the cheapest.
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