Last Updated on December, 2024
Got a stopover at the LAX on your next trip to the US? Well, it’s better to get your foreign currency whether you’re flying in or out of the Los Angeles Airport.
You can explore plenty of currency exchange options at most major airports, including the LAX. You can also get cash using ATM kiosks.
But which of these options should you explore on your upcoming trip?
In this comprehensive guide on how to get a better exchange rate at Los Angeles Airport, we’ll provide you with all the details to help you make an informed decision and get the best deal. So let’s dive right in.
Quick Summary
Airport currency exchange services like ICE tend to have higher fees and less favorable rates compared to other options like online currency orders or multi-currency cards. It’s important to compare rates and be aware of additional fees when exchanging money at the airport.
Fintech services, such as Wise, typically provide more competitive exchange rates with lower fees. They allow you to hold multiple currencies and make ATM withdrawals, offering a more cost-effective solution for currency exchange.
To get the best exchange rate, travelers should plan ahead by comparing different exchange service providers, considering online orders for pickup at the airport, or using multi-currency cards to avoid high fees and unfavorable rates at airport kiosks.
Contents
- Does the Los Angeles Airport Have a Currency Exchange?
- Airport Exchanges vs. Multi-Currency Cards
- So, How to Get a Better Exchange Rate at Los Angeles International Airport (LAX)?
- Understanding Exchange Rates & Fees at the Los Angeles International Airport?
- Some Important Tips to Save Your Money
- FAQs
- Final Word
Does the Los Angeles Airport Have a Currency Exchange?
As one of the major airports in the US and across the globe, the Los Angeles International Airport features different currency exchange locations.
Now these airport currency exchange service providers don’t have much competition to deal with, but you might end up finding out that switching funds at the terminal can be a bit on the higher side.
You won’t find any clear fees mentioned and in most cases, they get added on top of the exchange rate available.
So to determine the total cost of using these currency exchange services at the Los Angeles Airport, you must consider the quoted fees along with the applied rates to exchange currency.
We’ll discuss a few options that you can try out and compare them later on in this guide. First, let’s briefly talk about the currency exchange locations at the Los Angeles International Airport.
International Currency Exchange (ICE)
As we’ve mentioned above, the International Currency Exchange (ICE) has eight different locations in LAX. You can contact them via phone (310 646 7934) or email ([email protected]). The locations and working hours of each of their eight offices at the LAX are as follows:
Terminal 2 Departures (No reviews on Google)
Post-security, next to Gate #21, (Aeromexico, Delta, Westjet)
Working hours (local time):
Terminal 4 Departures (Google rating w/ 1 review = 1.0 / 5 stars)
Post-security, next to Gate #41, (American)
Working hours (local time):
Terminal 6 Departures (No reviews on Google)
Post-security, across Point the Way Café, near Gate #65C (Alaska, Air Canada)
Working hours (local time):
Terminal 7 Departures (Google rating w/ 62 reviews = 1.3 / 5 stars)
Post-security, Next to Hudson, near Gate #73 (United)
Working hours (local time):
Tom Bradley International Arrivals (No reviews on Google)
Pre-security, next to International Arrivals
Working hours (local time):
Tom Bradley International Departure Hall (No reviews on Google)
Pre-security, departures level, next to ANA ticket counters
Working hours (local time):
Tom Bradley International Departure North (Google rating w/ 65 reviews = 1.2 / 5 stars)
Post-security, across Tumi, near Gate #130
Working hours (local time):
Tom Bradley International Departure South (No reviews on Google)
Post security, across Gate #150
Working hours (local time):
During our research, we’ve found that the ICE is not very highly rated on Google. These ratings are based on the feedback left by previous customers based on convenience, cost, and user-friendliness.
Their current standing might not be that encouraging, but over time it might change, so it’s better to check back as the ratings change over time while keeping an eye on the extra fees.
Airport Exchanges vs. Multi-Currency Cards
In some cases, but specifically at airport locations, you’ll find the quoted rate quite different from the mid-market rate for your exchange money.
Now, that might seem unfortunate, but it’s because the service provider has added a percentage fee to the original rate that is used for conversion, pushing up the overall cost toward you. Apart from that, working out what you’re paying for the translation becomes even more difficult.
For reference, check the below table for a quick comparison between ICE money exchange and Wise.
Wise is one of the most popular exchange services due to its low fees. And, you can access them from any ATMs present at the airports using their multi-currency travel debit card available on Visa and Mastercard networks.
With your Wise multi-currency card, you will have a digital account in which you can hold multiple currencies and pay using a virtual or a physical card.
You can also make ATM withdrawals in local currency using this card. You can open your Wise account online by just visiting their website and providing them with your photo ID. Top up your account and you’re good to go.
This table will show you how these rates and fees can make a huge difference in the end to the money you’re getting, and why you should focus on the services that charge a small fee.
| Exchange Amount & Currency | What You Would Get Using ICE? | What You Would Get Using Wise? | Difference | Which Option Is Better? |
| USD 1000 to GBP | GBP 678.17 | GBP 790.88 | GBP 112.71 | Wise |
| USD 5000 to GBP | GBP 3390.84 | GBP 3956.52 | GBP 565.68 | Wise |
| USD 1000 to EUR | EUR 792.95 | EUR 924.92 | EUR 131.97 | Wise |
| USD 5000 to EUR | EUR 3964.76 | EUR 4626.78 | EUR 662.02 | Wise |
Apart from the currency conversion fees topped on the exchange rate, you might also have to deal with a couple of other costs. These include the likes of exchange fees and delivery fees if you order currency online.
You can call these additional fees as administration charges or commissions. But you can spot them easily when you arrange your currency exchange service.
So, How to Get a Better Exchange Rate at Los Angeles International Airport (LAX)?
Now, apart from ICE or any other financial institution, there are a few other options that you can go for when it comes to exchanging currency at the LAX. Let’s have a look at each of them one by one and determine which is more suitable for managing your finances effectively.
Order the Currency Online & Pick it Up at the Airport
Currency Exchange International or CXI is one of the providers that enable you to order currency online to collect at the airport.
It means that you can exchange currency at a better rate as compared to spot exchange. Moreover, it means that you’ll have a guarantee from the exchange office that they will have the needed foreign currency.
Buy the Currency Over the Counter at Los Angeles International Airport
Another option is that you can exchange money on the spot by visiting one of the eight ICE US locations within the LAX and paying by debit card or in cash to exchange currency.
This method is a quick and convenient choice if the exchange office has your currencies in stock. However, you might have to deal with hiked exchange rates and fees. So it might be facilitating, but it’s not the smart way.
ATMs
The third option you can avail of is using a foreign ATM to exchange currency. You can do this by withdrawing money in local currency at your destination as you arrive at the airport using your debit card.
These ATMs are frequently available at airports, and they can also offer competitive exchange rates apart from ATM fees. Nevertheless, you must make sure that your debit card issuer doesn’t impose hiked rates on any withdrawals or foreign currency transactions for the best deal.
Understanding Exchange Rates & Fees at the Los Angeles International Airport?
The amount of money or foreign currency you get can be figured out by the exchange rates you’re offered excluding the fees that you might have to pay, when you exchange currency.
When you’re looking to exchange foreign currency, you need to keep in mind the exchange rates as they keep fluctuating based on the global markets.
Nevertheless, the most important consideration here is the mid-market rate for currency exchange. This is the same rate that you see on Yahoo Finance, XE, Google, or any other currency converter tool, including Wise, etc.
You must look for a service provider that uses this rate or anything close to it. It means that you’re usually getting the best deal available. In other words, it’s best to avoid airport kiosks as they charge high fees which include commissions for service providers.
Some Important Tips to Save Your Money
Here are some important tips to consider getting the best bang for your buck when you’re traveling.
Compare the Exchange Rates
Be sure to plan and compare every exchange service provider. Each of these service providers sets their exchange rate, so it’s better to compare them to get the best exchange rate.
Using Google, XE, or Yahoo Finance, you can get the mid-market exchange rate for the currency you’re looking to exchange and choose the provider that offers a rate as close to this number.
Keep an Eye On the Currency Exchange Fees
When you exchange foreign currency, there are a few different rates and fees you might have to deal with. These include the exchange charge, the commission, and the delivery cost if you’ve opted for delivery at the airport or some other convenient location.
Travel Money vs. Travel Cards
And if you don’t end up spending all the money that you loaded up in your account, leave it for the next trip. Of course, you can withdraw cash from your band and spend it at home as well.
Useful guides:
FAQs
Final Word
There’s a misconception that a bank or credit union can help you out if you’re looking to exchange currency at Los Angeles Airport. Using a credit card for this purpose can pile up your costs pretty fast.
Going to the ICE money exchange office at the Los Angeles Airport isn’t a good option either for the same reason. Therefore, to get the best rate for exchanging money you can use a fintech service, like Wise as your online currency converter.
These services enable you to have an online account in multiple foreign currencies and enable you to manage your finances effectively while you’re traveling.
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