How to Get Cash Before Travelling Abroad

Before heading abroad, one question often comes up: how can you get cash in the local currency at the best possible rate to make the most of your travel budget?

Between banks, exchange offices and online platforms, there are plenty of options, but not all of them are equally worthwhile.

In this guide, we present the advantages and disadvantages of each solution to help you identify the most cost-effective option and get your cash in the best possible conditions.

 

Key takeaways:

• Exchanging currency through your bank is reliable, but rates are usually poor, fees are numerous and processing times can be long. You often need to order your currency several days in advance and meet a minimum amount.
• Neobanks allow you to manage currencies at near-market rates via an app, but they almost never provide cash. Withdrawals abroad often come with fees and strict limits.
• Online services are an excellent compromise: they offer highly competitive rates, easy ordering and fast delivery to your home or a local branch. Fees are transparent and often non-existent, though delivery times need to be taken into account.
• Exchange offices allow you to get cash immediately without pre-ordering, but rates and fees can vary greatly depending on the location and currency. Those in tourist areas are usually more expensive.
• For small amounts or urgent needs, an exchange office remains practical. For larger sums, online platforms are usually more economical, while banks and neobanks are better suited for safety or digital management.

 

You can use your regular bank to exchange currency before travelling. However, this option is not usually recommended, as it involves several drawbacks such as higher exchange rates, hidden fees and limited flexibility.

You will usually need to order your currency well in advance, as your bank may not have it in stock. Depending on the bank and the currency, expect a delay of at least 24 hours before being able to collect your order at a branch.

Most banks require a minimum exchange amount, typically between £100 and £200. If you only need a small amount of cash before travelling, this may not be ideal.

Exchange rates offered by banks are often unfavourable, with margins ranging between 1.5% and 3% above the interbank rate – the rate used on the foreign exchange market.

This margin varies depending on the currency and fluctuates daily with the market.

Example:

• The interbank rate EUR/USD is £1 = $1.31
• A traditional bank may offer £1 = $1.27, including its margin.

Many banks charge no commission (i.e., no extra % fee) when you order ahead; the cost is mainly in the exchange rate markup + any delivery/collection fee.

When paying by credit card, extra fees sometimes apply (e.g., HSBC’s 1.5% handling fee).

Even when “no commission” is stated, the bank will apply an exchange rate with a spread (i.e., you pay more than the mid‑market rate).

Using your bank to obtain cash before travelling offers the following benefits:

• Security: the exchange takes place in a regulated environment
• Guaranteed authenticity of notes
• The rate is known in advance

However, there are several drawbacks to consider:

• Exchange rates are less favourable than those offered by specialist exchange offices or online platforms
• Limited stock for certain rare currencies such as the Thai Baht, Chilean Peso or Indian Rupee
• Traditional banks generally do not offer buy-back guarantees, so unused currency cannot usually be exchanged back, or only at poor rates.

Neobanks have transformed the currency exchange market, but they rarely offer physical cash.

Neobanks mainly operate through digital currency exchanges. Converting euros into a foreign currency is usually done via an account or mobile app.

While this allows you to hold funds in various currencies, you will still need to use a cash machine abroad to withdraw money. This is generally not recommended, as such withdrawals often incur extra fees and commissions.

The exchange rates offered by neobanks are often very close to the interbank rate used on the currency market. However, this rate only applies to virtual currency conversions. When withdrawing cash from an ATM, a different and often less favourable rate is applied.

Additional fees may apply when converting currencies or withdrawing cash.

For currency conversion, fees can apply once you exceed a certain limit.

When using an ATM, you may be charged extra, typically around 2% of the withdrawal amount once over the limit. Withdrawals abroad may also come with extra fees depending on the country.

Using a neobank to manage your currency offers several benefits:

• Exchange rates close to the real market rate
• Real-time management of your transactions through the app
• The ability to exchange currency at any time, even while travelling
• Access to a wide range of currencies

There are also some drawbacks to keep in mind:

• No option to receive cash before departure – withdrawals must be made abroad
• Withdrawal limits apply depending on your plan, with extra fees beyond certain thresholds
• Internet access or the app is required to manage transactions
• Weekend mark-ups often apply to both exchanges and ATM withdrawals
• Withdrawal limits are generally lower than those of traditional bank cards

Online currency exchange platforms are a convenient option for getting cash before travelling abroad.

They offer attractive exchange rates, and you can either collect your order from a branch or have it delivered to your home.

At ChangeGroup, for example, we also offer a range of complementary services to help optimise your travel budget: BuyBack guarantee, international money transfers, global eSIM cards and more.

Getting cash before travelling abroad through an online platform such as ChangeGroup is straightforward:

• Choose from a wide range of foreign currencies (USD, JPY, THB, PHP, VND, EUR and more). You can find the full list of available currencies on the “exchange rates” page.
• Select the amount you need and instantly see the amount you’ll receive.
• Choose your preferred delivery method (secure home delivery or free collection in branch).

Processing times are usually very fast: within 24 hours for branch collection or for home delivery.

The rates applied are usually very close to the interbank rate, with a smaller margin than those charged by traditional banks.

The rate is fixed before the transaction, so there are no surprises afterwards.

Choosing an online platform such as ChangeGroup helps you reduce extra costs.

We completely remove commissions for online orders. To enjoy 0% commission, simply order the currency you need directly from our website.

Home delivery usually incurs a delivery fee, but this is free when you exchange over 800 GBP.

Using an online exchange service to get cash before travelling offers several benefits:

• Particularly competitive rates, often better than those offered by banks or airport exchange offices
• Home delivery provides flexibility and convenience
• Full transparency on exchange rates – you know exactly how much you’ll receive before paying
• Access to over 60+ currencies
• A secure and regulated service
• The BuyBack guarantee allows you to sell back unused currency at the same rate after your trip

There are, however, a few points to keep in mind:

• Delivery times require a bit of forward planning
• A minimum amount of £200 applies when exchanging currency with ChangeGroup, though this may vary with other platforms
• For small amounts, collection in branch is preferable to avoid delivery costs
• Some websites are not secure or authorised, so always check the company’s credentials

You can also use a physical exchange office to change your money directly. This is a convenient option for obtaining cash without delay.

Getting cash from an exchange office is straightforward. Simply visit the counter, state the currency and amount you wish to exchange, and you’ll receive your cash immediately.

You’ll need to present valid ID (passport or national ID card), as transactions may be subject to verification.

Most exchange offices hold a wide range of currencies in stock, although rarer currencies may require a short waiting time.

Rates at exchange offices are generally based on the interbank rate, with an added margin.

The rate applied depends on several factors:

• Fluctuations in the Forex market
• The currencies being exchanged
• The location of the office – those in airports usually charge higher rates than those in city centres

Some exchange offices charge fixed handling fees in addition to their margin.

You can usually pay by card or in cash, though paying by card may sometimes incur extra costs.

Exchanging money in highly touristy areas or at train stations or airports may also result in less favourable rates.

Using an exchange office to get cash offers the following benefits:

• Access to a wide range of foreign currencies, including exotic ones
• Immediate availability – you leave with your notes in hand, with no waiting period
• In-person service for greater transparency on the rate before paying

There are also some downsides to consider:

• Rates can be less competitive and vary widely between locations or over time
• Comparing rates can be tricky due to potential hidden fees
• Carrying large amounts of cash involves some risk