Introduction

Does your drawer have a scattering of leftover foreign coins from your last overseas trip? Wondering where to exchange this leftover foreign currency? You are not alone. Many travellers find themselves in possession of surplus coins and bills when they return from abroad. This 2000 words article guides you on where to exchange your leftover foreign currency. Exchange rates, the right time, and locations, this article will answer all your questions.

Traditional Banks

Most traditional banks offer currency exchange services. They may not offer the best exchange rates, but they are a secure and reliable option. However, do keep in mind that while larger banks are more likely to take your coins, smaller branches may refuse. Most banks also charge a fee either as a flat rate or a percentage of the amount you’re exchanging. Therefore, it's essential to confirm these details before proceeding.

Online Exchange Platforms

Due to the digital revolution, several online platforms are ready to accept your leftover currency. Websites such as Leftover Currency and Cash4Coins provide mailing instructions to send in your foreign currency. Once they verify your coins and notes, they will convert them into the currency of your choice and transfer the amount into your bank account. However, the exchange rate might not be as pleasing compared to high-street banks or other physical exchange services.

Airports

If you realize you still carry foreign currency at the end of your trip, don't worry. Most airports house currency exchange counters to facilitate tourists. These are handy but can hike up their rates due to the convenience factor, hence it’s recommended to only use them as a last resort.

Use It for Your Next Visit or Donate

If you plan on returning to the country whose currency you have, it might be a good idea to keep it. It could save you a considerable amount in exchange rates and fees. Alternatively, you can donate your leftover currency to charities which can use this foreign currency to fund their activities. Many airlines and airports also have donation boxes for unneeded currency.

Local Currency Exchange Bureaus

Currency exchange bureaus can often give you better deals than banks, especially if you're exchanging a considerable amount of money. Before you agree to the transaction, always compare rates with other operators and read the contract thoroughly to understand the fees involved. Remember that even a tiny difference in exchange rate can bring a significant difference to the total you receive for larger amounts.

Exchange Services for Frequent Travellers

If you travel frequently, look into foreign currency exchange services specifically designed for frequent travellers, such as Revolut and TransferWise. These platforms allow you to have multiple currency accounts and convert between them at the interbank exchange rate, which is the best rate you can get.

Use it as a Future Travel Gift

If you have relatives or friends who plan a visit to the same country in the future, you can gift them your leftover currency. This can not only help them save on exchange rates and fees but also gives them convenience having some money ready when they land.

Gift Cards and Round Ups

In certain countries, retailers will let you use your leftover foreign currency to purchase gift cards. It’s a useful method if you've got only a small amount left. Some airlines also offer ‘round-up’ programs where you donate your spare currency on board, which the airline then donates to their chosen charity.

Conclusion

There you have it, a comprehensive list of places where you can exchange leftover foreign currency. While most of these methods won't get you back exactly what you spent, they offer an opportunity to get some value back. As always, read the fine print to avoid high fees and exchange rates. Safe travels and happy exchanging!