Planning Currency for a Trip Abroad: A Simple Checklist
A little preparation goes a long way when you need foreign currency for travel. Use this checklist to work out what you need, when to arrange it and what to keep track of.
Sofex Editorial TeamPublished
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Sorting out foreign currency is one of those travel jobs that is easy to leave until the last minute. Doing it calmly, a little ahead of time, usually means fewer surprises. This checklist covers the practical questions worth answering before you request an exchange.
1. Decide which currency you actually need
Check the currency used where you are going, and whether it is easy to change there. Some destinations accept US dollars or euros widely; many do not. If you will pass through more than one country, plan for each.
2. Estimate how much
List the costs you expect to pay in cash: local transport, meals, small purchases, tips.
Separate the costs you will pay by card or have already prepaid.
Add a modest buffer for the unexpected, rather than carrying far more than you need.
3. Give yourself time
Contact your bureau de change a few days before you need the currency. That leaves time to confirm the rate, the amount and any documents required, without rushing a decision on the day you fly.
4. Ask what you will need to bring
Requirements depend on the type and size of the transaction and on the regulations in force at the time. Rather than guessing, ask the dealer directly, and ask again if anything is unclear. A reputable dealer will tell you before you proceed, not after.
5. Know the rules on carrying cash
Nigeria, like many countries, requires travellers to declare cash above a set threshold when entering or leaving. Rules change, so check the current requirements with the Nigeria Customs Service (opens in a new tab) and with your destination's authorities before you travel.
6. Keep your records
Keep the receipt or confirmation for your exchange.
Note the rate you received and the total you paid.
Store currency securely and split it between bags rather than carrying it all in one place.
A word on safety
Only deal through contact details you have verified yourself, such as those published on a company's own website. Never share card PINs or online-banking passwords with anyone arranging an exchange for you. Sofex will never ask for them.
Have a question about your exchange?
We confirm the applicable rate and the details with you directly. Asking commits you to nothing.
