What is the best way to exchange foreign currency?

The best way to exchange foreign currency is to use your bank or credit union before you travel, as they typically offer competitive exchange rates with low fees. ATMs abroad are also an excellent option since they usually provide near-interbank rates, though you should check your bank's foreign transaction and ATM fees beforehand. Using a credit card with no foreign transaction fees is another smart choice for purchases. Avoid exchanging currency at airport kiosks, hotel desks, or tourist-area exchange booths, as they charge significantly worse rates and high fees. If you must use a currency exchange service, compare rates online first. Services like Wise or Revolut can also offer favorable rates for international transfers and spending.