Why This Travel Tip Matters
I always thought the safest and cheapest way to get foreign currency for an international trip was to plan ahead, visit a bank, and exchange cash. It felt official, secure, and hassle-free.
But while planning our upcoming family trip to Thailand, I did a deep dive—and what I found shocked me.
Bank exchange rates? Often among the worst.
If you're like me—traveling with kids and trying to avoid surprises—this post breaks down the real best ways to get cash while traveling internationally, based on recent research and real-world comparisons.
I Compared Options—And Here’s What I Found
Tap to view the full-size table. Not all currency exchange options are equal—this side-by-side table shows which methods cost more and which give you the best value while traveling.
What Is the Mid-Market Rate?
The mid-market rate is the real exchange rate between two currencies—the midpoint between buy and sell rates on the global market. It’s what you see on Google or XE.com.
What Is the Visa Mid-Market Rate?
Visa and Mastercard use their own wholesale exchange rates, which are very close to the mid-market rate (usually within 0.2% to 0.3%). You can view it on the Visa Exchange Rate Calculator.
What Is a Markup?
A markup is the difference between the mid-market rate and the rate you're actually offered. Banks and money changers make profit by marking up this rate—often without telling you.
The Real MVP: A No-Fee ATM Card + Mid-Market Rate
The best way to get local currency while traveling is to use a debit card with low or no foreign transaction fees, that also reimburses ATM fees and uses a fair exchange rate.
Tap to view the full-size table comparing top travel debit cards —see which no-fee ATM card gives you the lowest exchange costs and the best perks across regions.
Summary: Best Cards by Region
For U.S. travelers like us, the Fidelity debit card is our go-to for getting cash—it offers no ATM fees, near mid-market exchange rates, and makes travel a lot less stressful. If you're based in Singapore, pairing Wise or Revolut helps you avoid FX fees, while Maybank or HSBC cards work well if you’re collecting miles. For EU travelers, Revolut and N26 offer modern features with solid FX transparency.
⚠️ Avoid This Costly Mistake: Dynamic Currency Conversion (DCC) and Check ATM Network Logos
Dynamic Currency Conversion is when a foreign ATM or merchant offers to convert the transaction into your home currency.
Sounds helpful, right? But it’s not.
You get a terrible exchange rate—often 3% or more in markup—if you choose to pay in your home currency instead of the local one. Always opt to be charged in local currency (e.g., THB in Thailand, not SGD or USD) when prompted.
Also, be aware that some cards—like our Fidelity debit card—require specific ATM network compatibility to function and qualify for fee reimbursements. For Fidelity, that means using ATMs with Visa, Plus, or Star logos. If you're unsure, check the Visa ATM locator to confirm your destination has supported machines.
Watch for the prompt when withdrawing from ATMs or paying with a card, and always verify the network logo before inserting your card.
If You Don’t Want to Use Cash: Best International Travel Credit Cards
If you're heading abroad and the vendor allows credit card payments, this is often the easiest and most rewarding option—no need to worry about currency handling or ATM fees. I personally use the Chase Sapphire Preferred® card, and it’s been a game-changer. It gives me solid travel protection, no foreign transaction fees, and 2x points on travel and dining, which I can redeem flexibly. Below is a comparison of top international travel credit cards to consider based on your region and travel style.
Tap to view the full-size table comparing top travel credit cards: FX rates, perks, and fees side-by-side to help you choose the smartest option for spending abroad.
Tips
Always pay in local currency (decline DCC when prompted).
Thailand-Specific Tips (from My Research)
Most Thai ATMs charge a flat 220 THB (about $6 USD) fee per withdrawal, so having a debit card that refunds ATM fees—like Fidelity or Schwab—can really save you. While no-fee ATM cards are the most cost-effective option, it's important to know that cash is still king in many parts of Thailand—especially at small eateries, markets, and for local transport.
Because we’re using the Fidelity debit card, it’s important to look for ATMs that display Visa, Plus, or Star logos—only these networks are compatible and eligible for ATM fee reimbursements. You can use the Visa ATM locator to find supported machines before you go. And as always, decline DCC so you're charged in THB for the best exchange rate.
If you're not dealing with cash, using a no-foreign-transaction-fee credit card like the Chase Sapphire Preferred is a great alternative. You still get competitive rates and points without having to worry about currency exchange.
Bring a small amount of Thai Baht with you from Singapore for arrival basics like a taxi or SIM card, but plan to get the rest at your destination where rates are better.
Final Takeaways
- Don’t assume banks = best deal
- Understand what mid-market rates and markups are
- Use tools like a no-fee ATM card, Wise, or Revolut to save 5–10%
- Watch out for Dynamic Currency Conversion
- Travel smart, and your wallet will thank you!
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