How to buy dollars
Find the best rate, alternatives to cash and how to sell them back
Heading to the US and think you might need some cash? Use this guide to check which countries do and don't take the US dollar, where you can get the best exchange rates and whether using a top overseas card might be a safer (and cheaper) option.
Cash isn't usually the cheapest option
Say 'travel money' and many automatically think of an image of a glass boxed bureau de change in a supermarket, post office or travel agent. Yet getting cash isn't usually the cheapest way to spend abroad.
For near-perfect rates each and every time you go away, consider a top travel credit or debit card instead. These cards charge no fees on spending worldwide, so you can just use them as you would at home.
You'll also be able to use them to withdraw cash overseas with the same great exchange rates - though a specialist travel debit card's usually better here as most credit cards will charge interest on cash withdrawals.
Though we know many prefer cash, so here are some pros and cons on taking it away with you...
Pros:
You know how much you have to spend.
You will lock in an exchange rate ahead of your trip, which could be appealing if the pound's strong in the weeks/months before your trip (though you'd need a crystal ball to know for certain).
Cons:
Physical cash is easier to lose/get stolen.
You might get stuck with loads of dollars after your trip. You can sell them back but you'll typically get less than the amount you paid.
You could get a better exchange rate with a top travel credit or debit card.
See Cheap travel money tips for full info and help on the four main ways to get holiday money.
How to get the best rate on the high street
If you're still sure you want to take cash, first check if your travel destination takes US dollars as a valid currency (see ). Then you can think about where to get them.
Next, rather than just walking into your nearest bureau de change or bank, check our TravelMoneyMax travel money comparison tool. Currency sellers compete to offer the top exchange rates on euros, and we compare 16 online and high street rates.
Through this tool, you can check the best available rates in your local area for collection, or the best rates for delivery.
When is the best time to get dollars
The best time to buy dollars is when the exchange rate is most in your favour. The trouble is, you won't know at the time whether you'd have got more dollars per pound by exchanging a week, month or even a year later.
To mitigate the ups and downs of the exchange market, you could buy your dollars at a few separate times. By spreading out the exchanges, you'll naturally get some dollars at a slightly better rate and some at a slightly worse rate. However, this requires a bit of organisation, so won't work for those spontaneous trips.
Don't get dollars at the airport
Far more important than timing your dollar exchange just right is avoiding doing it at the airport. The rates at the terminal are usually hideous and will likely far outweigh any potential gains you make by judging the markets.
For example, say you put off exchanging your dollars until you land at your destination in June, and it turns out the pound has risen against the dollar 4% since you booked your trip back in January. Good news, right? Well, if the bureau de change at the airport offers you a rate 10% worse than the true exchange rate, you're actually worse off.
Leftover currency? How to sell your dollars
You can obviously save leftover dollars for your next trip, but if you can't wait that long and want to sell, most bureaus de change will buy your dollars back from you.
This is best avoided if possible though. Buyback rates from bureaus are usually pretty terrible, so you'll be losing even more money. It’s worth asking when you get your currency if they do special rates on buyback for their customers.
Use our Buyback Page for a (limited) comparison of rates on offer.
Other top MSE travel money guides...
TravelMoneyMax. Find the top travel cash rates
Travel credit cards. No exchange fees on purchases
Cheapest ways to get travel money. Foreign exchange tips and tricks
Prepaid travel cards. Lock in a rate before you go
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