With the ease of travel and communication, the world has gotten smaller. Previously, buying international currency was once the domain of high end currency traders or niche collectors. Today, the interest in foreign currency is growing thanks to easier travel and new online foreign currency exchange platforms.
If you’re a collector or you’re planning that next trip overseas, you might be wondering "how can I get foreign currency delivered directly to my front door?" In this article, we will discuss the options you have when you want to purchase or exchange foreign currency. There are multiple options where you can buy foreign currency, but options for getting foreign currency delivered to your door are surprisingly limited. You would think in the days of Uber, Amazon, DoorDash, and grocery delivery that getting currency delivered would be simple, but it’s more tricky than you can imagine.
Your Local Bank
You can buy popular foreign currencies from your local bank. This can be a convenient option, but you must go to your bank in-person to do an exchange. The fees also tend to be rather high. If you have spent any time with a currency calculator, you’ll see that market rates and spreads are much smaller than what you’ll get at a bank when you need to exchange hard currency. They will follow market rates, but they will create a big spread that allows them to make a decent profit on the transaction. If your bank does provide an ordering service, you’ll need to place the order and it could take 5-7 days for the currency to be delivered to the local branch. Once the order is delivered, you’ll have to go into the bank to pick up the order. In addition, banks typically only deal in the most popular currencies, rather than exotics like Iraqi Dinar or Vietnamese Dong.
Online Currency Brokers
This used to be a convenient way to order currency, but due to COVID much of this has changed. As of publication of this post, the popular site Travelex.com has shut down and ceased operations in the US and Canada due to the global pandemic.
Now that a simple way to buy foreign currency in-person has been impacted by COVID, many other brokers have followed suit. There’s no real good time frame on when these options will be available again. Finding brokers that deliver to the US can be difficult at this time. You can find brokers that deliver to the UK and Australia and even Canada, but there are limited options in the US.
Now that Travelex.com has ceased US operations, customers need new ways to buy foreign currency and get foreign currency delivered.
If you aren’t looking to own hard currency, but are happy with digital offerings, you can still find sites that allow you to buy and sell currency digitally. These are good options if you are a trader, but if you want to hold hard currency for collecting, travel, or investing, you will not be able to. These are electronic trades only.
Many airports provide currency exchange services. These can be convenient if you are traveler. They won’t be delivered to your front door. The major negative with airport kiosks is that you will never get the best rates, and spreads can be very high. The other negative is that they may not trade in all types of currency, so you may not find what you need. These kiosks only carry the same popular currencies as banks, but they charge more. They also may not be able to exchange foreign currency back into US dollars, depending on the popularity of that foreign currency. Travelers should prepare ahead of time before visiting their airport and determine how much currency they'll need before they enter the airport.
Airport kiosks are convenient for travelers, but they charge among the highest fees and do not deal in all currencies.
US First Exchange has made the process of ordering hard currency delivered to you easy and simple. Here are the simple steps to have money delivered right to your house.
That’s it! You can have foreign currency delivered to your front door in less time than it would take to make the order from your bank and wait for delivery. Market rates and fees are more favorable to you than you would receive as well.
At US First Exchange, our goal is to be a continued source of education about the wide variety of currencies in the marketplace. We've created our company so that you can order foreign currency online and have foreign currency delivered to your door in 24-48 hours. All shipments are fully insured for home delivery, and we pride ourselves on having the industry’s lowest spreads.
Ready to sell? No more waiting. We provide everything you need to ship and receive funds for currencies you own.