What is the best way to obtain cash in the local currency when traveling overseas?

In most situations there is no need to exchange money at home ahead of time. When you arrive, avoid the change bureaus in the airport, train station, or bus depot, and head instead to a bank, post office, or American Express office for the best rates. Some hotels will also offer favorable rates. As much as possible try to use credit or debit cards to obtain foreign currency, as this allows you to take advantage of the best interbank exchange rates, often 2-7% lower than the exchange rate for cash or traveler’s checks. If ATM’s are easily accessible in the country you’re visiting, you can use your ATM card for day-to-day cash needs. To minimize fees take out as much money at a time as you feel comfortable carrying. For large purchases such as hotel bills, car rentals, train tickets, etc., use your credit card to pay. Often, restaurants and shops will accept credit cards as well. Check with your bank before departure to ask about foreign currency fees, and ask about local fees before presenting your card for payment.