How Old Do You Have To Be To Exchange Money

how old do you have to be to exchange money


In the dynamic world of monetary transactions and foreign exchanges, age might seem like an inconsequential player. Yet, age does play a crucial role in how an individual interacts with the domain of money exchange. In this article, we aim to thoroughly explore the age requirements for exchanging currency across a variety of platforms and settings.

Exchanging Money at Banks

Banks are some of the most secure and conventional places for money exchange. You can convert your cash into a different currency, get your travellers' cheques, or receive wire transfers. The acceptable age for exchanges via this method typically aligns with the minimum age requirement to open a bank account. In most jurisdictions, this is commonly set at 18 years old, although, in some places, 16-year-olds can open an account with parental consent.

Foreign Exchange Bureaus

Foreign exchange bureaus or currency exchange services are often found in airports, shopping malls, and in standalone establishments throughout city centres. They are convenient options for travellers needing to exchange currency fast. The age requirement for transacting at these outlets can vary. In general, anyone over 18 can transact independently. However, some may permit younger individuals to make exchanges accompanied by an adult guardian at the bureaus' discretion.

Online Currency Exchange Platforms

Online currency exchange platforms offer unparalleled convenience for 21st-century travellers. These platforms often require the user to be at least 18 years old to create an account and carry out exchanges. This is due to the financial accountability and commitment needed to manage online transactions.

Peer-to-Peer Currency Exchange

Peer-to-peer currency exchanges are a newer element of the financial world, made popular with the rise of the sharing economy. These platforms allow individuals to swap currencies with other individuals. The age required to participate in peer-to-peer currency exchange is generally set at 18 years to ensure the accountability and legal responsibility of all parties involved.

Credit Card Currency Exchange

Even though not directly considered a method of exchanging currency per se, when you use your credit card abroad, a currency exchange happens behind the scenes. To own a credit card, you usually need to be at least 18 years old. However, under certain conditions, banks might tie a credit card to a parent or guardian's account, allowing a younger person to use it.


In the realm of money exchange, age requirements are essentially a means of ensuring financial accountability and legal responsibility. These required ages can vary slightly depending on local legislations and specific institutional policies. They are put in place to protect both the service provider and the client. Before undertaking any currency exchange, ensure to research thoroughly and understand all the regulations and requirements for your chosen method.