When you pack for a trip, you might consider the best ways to get foreign cash to use while you’re away from home, but it’s unlikely that you’re considering what to do with your remaining bills and coins when you get back. Besides, the last thing you want to do is have to switch your money back to US dollars and risk losing 2 to 5% or more in the process. So, here are eight alternative ways you can use leftover foreign currency after your trip.
1. Keep it for your upcoming vacation
Keep it if you anticipate visiting a nation using the same currency on another trip soon. In addition, you can use it to make purchases while you’re at home, so you won’t have to worry about having cash on hand before your next trip. Besides, it’s fantastic to arrive at the airport, jump in a taxi, and then worry about getting cash (without incurring ATM fees) after having a good night’s rest. However, remember that it might not be a good idea to hold onto every currency at this time due to the high rates of inflation in many nations.
2. Fill a transit card with the leftover foreign currency
Consider loading the money onto a city’s transit card if you want to store the cash for your subsequent trip but are concerned that you won’t remember it or lose track of it. For instance, in Istanbul, you may add your extra cash to the city’s public transportation system, the Istanbulkart, and be prepared for your upcoming trip.
3. Donate it
If you don’t want to keep the money, think about giving it to a nearby charity or school. Foreign currency is happily accepted by many organizations and can be used to support individuals in need. Similarly, many airports and airlines have some contribution scheme that allows you to make a last-minute donation as you leave the country.
4. Sell the leftover foreign currency
Because buyers attempt to complete various collections, some currencies will fetch prices higher than the coin or note’s face value. To determine whether selling some of your foreign cash might be beneficial, look at the current eBay prices.
5. Give it to a friend or trade it
Offer to swap it or give it as a present if you know someone who is going to be visiting the nation where your leftover foreign currency comes from. By doing this, you can prevent having to swap the money back into US dollars and incur a loss.
6. Save it as a souvenir
It’s completely acceptable if you wish to keep the money as a souvenir of your trip. You can frame it, put it in a scrapbook, or store it safely in a drawer. Besides, having a collection of currency or coins from the various nations you’ve traveled to might be enjoyable.
7. Spend the leftover foreign currency on mementos
Consider trying to spend what money you have left if you don’t have any immediate plans to take another trip and you’re not interested in any of the other choices on this list. For insurance, for the holidays, you might be able to find unusual presents for friends or family members or bring your favorite culinary item home.
8. Trade it in for cash
Of course, you can exchange your leftover foreign currency for cash in another currency if everything else fails. But, there will be a cost involved. However, if you want to get rid of your extra money as soon as possible, you can exchange it for cash at a nearby bank or exchange facility. But remember that you might not get the best deal, so it’s wise to shop around before choosing.