Whether you’re planning a trip abroad, making an international business transaction, or just coming back from an overseas adventure, finding the best place to exchange currency can save you money. Texas, being a large state with multiple international airports, border crossings, and financial hubs, offers many options for currency exchange. However, not all places offer the same rates or service fees, so knowing where to go can make a significant difference. In this blog, we’ll explore the best places to get foreign currency in Texas, offering advice on what to look for and how to get the most favorable rates.
1) Major Texas Cities for Currency Exchange
If you’re located in or near a major Texas city like Houston, Dallas, Austin, or San Antonio, you’re in luck. These cities have a wide range of financial institutions, currency exchange services, and travel hubs that provide competitive rates. Here’s an overview of each city and the best options for exchanging currency.
Houston
Houston is home to one of the busiest airports in the U.S., George Bush Intercontinental Airport, which serves millions of international travelers. The airport has several currency exchange services both inside and around it.
- International Currency Exchange (ICE): Located within the airport, ICE offers convenient locations to exchange your currency right before your flight. While airport exchange services tend to have slightly higher fees, ICE is known for its transparency in rates.
- Travelex: Another well-known name in currency exchange, Travelex has locations in the city and the airport. They offer online currency ordering, so you can lock in a rate and pick it up when convenient.
- Local Banks: Major banks like Bank of America, Wells Fargo, and Chase often provide currency exchange services, but you may need to be an account holder to access their best rates.
Dallas
Dallas/Fort Worth International Airport is another major gateway for international travel. Like Houston, the city offers multiple options for currency exchange.
- Travelex: With kiosks located in DFW Airport and throughout the Dallas area, Travelex provides a reliable and quick way to get your foreign currency.
- DFW Currency Exchange: Located inside the airport, this is a convenient option if you need to exchange money before your flight. Be aware that rates at the airport can be higher than in other city locations.
- Local Banks and Credit Unions: Banks like Comerica and BBVA Compass offer competitive rates, but account holders often receive the best deals.
Austin
Austin-Bergstrom International Airport has currency exchange services, though the city’s options are more limited than in Houston or Dallas. However, you can still find some good places to exchange currency in Austin.
- Currency Exchange International: Located inside the airport, this is the go-to place if you’re pressed for time before or after a trip.
- Local Banks: Banks such as Frost Bank and Capital One may not have the best rates compared to specialty currency exchange services, but they are convenient for account holders.
San Antonio
While smaller than the other cities mentioned, San Antonio’s close proximity to the Mexican border makes it a popular spot for exchanging U.S. dollars for Mexican pesos.
- Currency Exchange International: This company operates in multiple airports across Texas, including San Antonio International Airport.
- Local Banks: Wells Fargo, Chase, and Bank of America all have branches throughout the city that provide currency exchange services.
2) Factors to Consider When Choosing the Best Place to Exchange Currency
When deciding where to exchange currency, several factors should be considered to help you get the best deal.
Exchange Rate
The exchange rate is the most critical factor. The rate tells you how much foreign currency you will get for your dollars. Rates fluctuate constantly, so it’s wise to monitor them over a few days or even weeks before making a large exchange. Banks and dedicated currency exchange services typically offer more favorable rates than airports or kiosks in tourist areas.
Service Fees
Some places charge a flat fee, while others take a percentage of the amount you’re exchanging. It’s essential to account for this when comparing options. For example, a location offering a slightly worse exchange rate but no service fee might ultimately save you money compared to a place with better rates but high fees.
Convenience
If you’re in a rush or located far from a major city, convenience might be your top priority. Airport exchange services are convenient but often come with a higher fee. In contrast, using a bank might take longer due to the need to pre-order your currency, but it often results in better rates.
Customer Service
While it may not affect the exchange rate, good customer service can make the process smoother. Some specialized currency exchange services offer financial advice or help you plan your exchange to avoid unnecessary fees.
3) Best Places to Exchange Currency in Texas
Let’s now dive into specific places in Texas where you can get the best foreign currency rates.
Local Banks and Credit Unions
Banks tend to offer the best exchange rates because they deal in large volumes of currency. If you’re an account holder, you may also avoid service fees altogether. Popular banks such as Chase, Bank of America, Wells Fargo, and credit unions like Texas Dow Employees Credit Union (TDECU) often offer currency exchange services.
- Wells Fargo: Wells Fargo is known for having one of the broadest ranges of available currencies. You can order online and pick it up at a branch, but note that not all branches carry foreign currency on hand.
- Bank of America: BoA offers a currency converter tool on its website, allowing users to see exactly how much they’ll get in a transaction before visiting a branch.
- Credit Unions: Many credit unions offer competitive rates and may have lower service fees than traditional banks, especially for members.
Specialty Currency Exchange Services
Specialty exchange services often offer competitive rates, and they specialize in providing foreign currency for travelers or business transactions. Some of the best places to exchange currency in Texas include:
- Travelex: Travelex has locations across Texas, especially in airports, and offers the added convenience of online ordering. While their rates are slightly higher at the airport, their city locations tend to offer more competitive rates.
- ICE Currency Exchange: ICE has many airport locations and offers foreign currency in various denominations. It is known for its transparency regarding rates and fees.
- Currency Exchange International (CXI): CXI offers one of the best services when it comes to getting foreign currency, with over 80 currencies available. They have multiple locations in Texas, especially in airports, but you can also use their website to lock in rates before visiting.
Online Currency Exchange
If convenience is key, several online services will allow you to order foreign currency and have it delivered to your home.
- Travelex Online: Travelex allows you to lock in your exchange rate online and offers home delivery. This can be particularly convenient if you’re not near a currency exchange location or want to avoid long lines.
- OFX: For larger international transactions, OFX offers some of the best exchange rates available. While it’s primarily focused on online transfers, it’s a great option if you’re sending money abroad rather than exchanging cash.
- Revolut: Revolut is a digital banking app that allows you to exchange money at near-market rates. While it’s not technically a currency exchange service, you can withdraw foreign currency at a bank or ATM using a Revolut card for some of the best rates available.
4) Avoiding Poor Exchange Rates and High Fees
The worst places to exchange currency are often the most convenient—tourist spots, hotels, and airports. While these locations are tempting due to proximity, they typically offer some of the least favorable exchange rates and the highest fees. Always check rates online or call ahead to compare options before making your exchange.
Another option to avoid poor exchange rates is using a travel-friendly credit or debit card that offers favorable rates for purchases made in foreign currency. Some banks, like Chase and Capital One, provide cards that waive foreign transaction fees, allowing you to use your card abroad without worrying about additional costs.
Conclusion
Finding the best place to exchange currency in Texas doesn’t have to be a complicated process. By planning ahead and knowing your options, you can secure the best rates and avoid unnecessary fees. Whether you prefer the convenience of an airport kiosk or the competitive rates offered by local banks and specialty currency exchange services, Texas has a wealth of options available. For frequent travelers, keeping an eye on exchange rates and fees is key to getting the most out of your money.
If you’re looking for the best place to exchange currency, make sure to compare rates, check fees, and consider your location to ensure you get the best deal. Safe travels!
