💰 Currency Exchange Fee Estimator
Compare the real cost of converting money across different methods
Mid-market rate (the "real" rate)
1 USD = 0.92 EUR
1,000 USD = 920.00 EUR
Compare Exchange Methods
Understanding Exchange Fees
💡 The Hidden Cost
Most exchange services advertise "0% commission" but hide fees in the exchange rate. A 3% worse rate on $1,000 costs you $30 — same as a $30 fee.
🎯 Best Practice
Always compare what you'll actually receive, not just the advertised rate. Use services like Wise or Revolut for best rates on most currencies.
Typical Fees by Method
Wise / Revolut
Online transfer services
0.3% - 1%
Best rates
Credit Card (no FX fee)
Visa/Mastercard rate + card fee
0% - 1%
If no foreign transaction fee
Credit Card (with FX fee)
Most standard cards
1% - 3%
Foreign transaction fee
Bank Transfer / Branch
Traditional bank exchange
2% - 5%
+ possible flat fee
ATM Abroad
Cash withdrawal overseas
3% - 5%
+ ATM fee ($3-5)
Airport / Hotel Exchange
Convenience locations
8% - 15%
Avoid if possible
Frequently Asked Questions
What is the cheapest way to exchange currency?
Online services like Wise and Revolut typically offer the lowest fees (0.3-1%). They use the mid-market rate with a small transparent fee. Banks charge 2-5%, and airport exchanges can charge 8-15%.
Do banks charge fees for currency exchange?
Yes, most banks charge 2-5% markup on exchange rates. This is often hidden — they show a worse rate rather than listing a fee. Some also charge flat fees of $5-15 per transaction.
Is it better to exchange money before traveling?
Usually yes. Exchanging at home through online services gives better rates than airport kiosks or tourist areas abroad. However, using a no-FX-fee credit card abroad can be equally good.
What are hidden fees in currency exchange?
The biggest hidden fee is a poor exchange rate — "0% commission" services often give you 5-10% worse rates. Other hidden fees include: ATM operator fees, dynamic currency conversion (always choose local currency), and minimum transaction fees.
Should I use my credit card or cash abroad?
If you have a no-foreign-transaction-fee card, use it — you'll get near-perfect rates. Otherwise, get cash from a Wise or Revolut card at ATMs, or exchange before your trip. Avoid hotel and airport exchanges.