The safest and most cost-effective places to exchange foreign currency upon arrival in a new country are typically ATMs affiliated with major banks, licensed currency exchange offices in city centers, and sometimes credit union branches, while airport exchange counters and hotel desks should generally be avoided due to poor rates and high fees. Withdrawing local currency directly from an ATM using a debit or credit card that has low or no foreign transaction fees usually provides rates very close to the interbank market rate, which is the best available to consumers, and many modern debit cards from online banks or fintech companies like Wise, Revolut, or Charles Schwab offer fee-free international withdrawals and refunds on ATM operator charges. It is important to choose ATMs located inside bank branches, shopping malls, or secure lobbies rather than standalone machines on the street, to reduce the risk of card skimming or theft, and to always decline "dynamic currency conversion" when prompted, which means refusing the option to be charged in your home currency and instead accepting the charge in local currency to avoid hidden exchange-rate markups. Licensed exchange bureaus in downtown areas or near major transport hubs often offer competitive rates, especially in countries where currency exchange is a common service, but travelers should compare the displayed rates and ask about any commission or service fees before committing, as the advertised rate may not include these costs. Airport currency exchanges are convenient for obtaining a small amount of cash immediately upon landing for taxis, tips, or snacks, but they consistently offer the worst exchange rates and highest fees because they face little competition and travelers have few alternatives, so limiting airport exchanges to minimal amounts and doing larger transactions elsewhere saves money. Hotels and tourist agencies also tend to offer poor rates and should be used only in emergencies or when no other option is accessible. Carrying a small amount of widely accepted foreign currency like US dollars or euros can be useful in some countries where they are accepted alongside local money, but relying on local currency obtained through ATMs or trusted exchange offices is generally the most practical and economical strategy.