Use your bank’s ATM while abroad: If you need to make additional withdrawals while you’re overseas, do your best to use your banking institution’s ATM, which may help you avoid added service fees.

However, all other account holders pay a $5 service fee for transactions under $1,000. For example, if you’re a Citigold or Citi Priority account holder at Citibank, you won’t be charged a fee for currency conversion. The fees you’ll pay will vary depending on the institution and the type of account you have. Since you have a relationship with the bank already, it’s more likely to offer you the best rates.

Exchange at your bank before your trip: Exchanging currency at your local bank is likely the most cost-effective way to convert currency.

Here are three methods that you can use to cut down on exchange fees: Doing so can help you pay the fewest fees. When you’re ready to buy US dollars or euros, it’s good to plan ahead. Merchants, such as a currency exchange, typically charge their own fees as well. For example, credit card processors and ATM networks typically levy a conversion fee equal to 1% of the purchase price.

Keep in mind that when you actually convert your money, you may be charged fees that a currency calculator doesn’t factor in. Since exchange rates fluctuate often, using a calculator is a smart way to ensure your math is correct. When you’re trying to convert currency, using a currency conversion calculator is a great way to get an estimate. Typically, there are two ways you can make the conversion. Via CurrencyFair's Website How to Convert US Dollars to EurosĬonverting US dollars to euros is a fairly simple process.

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