Last Updated on November 3, 2025 by David Rodriguez
The tourist from Germany stood at my counter in downtown Colorado Springs, looking defeated. He’d just gotten back from one of those airport hotel kiosks and paid nearly a 12% markup on his euros. “I thought it would be easier,” he sighed, sliding his receipt across the glass. I’ve run this exchange service for over a decade, and I see this story play out weekly. Honestly, it’s why I got into this business—to save folks from getting nickelanddimed on their hardearned travel money.
You know what’s funny? In a military and tourist town like ours, you’d think people would have this figured out. But between the cadets at the Academy needing yen for deployments and families heading to the Broadmoor for a fancy dinner before a European vacation, there’s a constant demand for foreign cash. The dry air up here at 6,000 feet seems to make people forget basic financial sense sometimes. So let me give you the real local scoop on navigating the currency exchange landscape in the Springs.
How Currency Exchange Works Here (And What Most Places Don’t Tell You)
Every exchange service makes money on the spread—that’s the difference between the interbank rate (the one you see on Google) and the rate they actually give you. It’s a necessary margin, like any business. But here’s the insider secret most won’t admit: the physical location dramatically impacts their overhead, and that overhead gets passed directly to you in the form of worse rates.
I learned this the hard way back in 2015. We had a small booth in The Citadel mall, and the rent was astronomical. To make it work, we had to widen our spreads. It felt wrong. We moved to our current, more modest location off Barnes Road near the interstate, and I was immediately able to drop our fees by nearly two percentage points. That’s the reality. The flashy kiosk at the Colorado Springs Airport or in a highend hotel? You’re literally paying for their premium real estate with every dollar you exchange.
Where to Find the Best Rates in Colorado Springs
Based on my experience serving this city, you generally want to avoid the airport and hotel concierge desks. Their convenience comes at a steep premium. Instead, look for established, standalone offices or services inside larger financial hubs.
Some established options in the Colorado Springs area include:
Travelex — Located in the Colorado Springs Airport. A major brand, but expect airportlevel fees.
Currency Exchange of Colorado — Serves the downtown and central Colorado Springs area. A local specialist.
Ent Credit Union — Multiple branches across the city, including in the north and southeast. Offers currency services for members.
Wells Fargo — Branches throughout Colorado Springs, including downtown. Bank customers can order currency.
But here’s a counterintuitive tip: sometimes your own bank is not the best deal, especially if you need the cash immediately. They might have to order it, taking 35 business days. For true walkin service, the dedicated exchange offices often have more competitive onthespot rates because it’s their entire business model. I had a client from the Briargate area who was furious her bank’s rate was worse than mine for Canadian dollars. She assumed the big national name guaranteed a better deal. It doesn’t.
Understanding the Real Costs: Fees, Rates, and Hidden Charges
When you’re looking for currency exchange services in Colorado Springs, you need to ask two questions: “What is your exchange rate?” and “Are there any additional fees or commissions?” The rate is where they make most of their money, but some places, especially those targeting tourists near Garden of the Gods, will also slap on a flat transaction fee. It’s doubledipping.
Most legitimate exchanges here, including ours, build their entire profit into the spread. You should never pay a separate commission fee on top of that. A fair margin for a physical exchange in a city our size is typically between 37% over the interbank rate, depending on the currency. Exotic currencies or small amounts will be on the higher end. If you’re being quoted a spread wider than 10%, you’re getting taken for a ride. Honestly, walk away.
Wait — actually, let me rephrase that more clearly. The percentage is based on the midmarket rate. So if the real rate is 1 USD = 0.95 EUR, and they offer you 0.88 EUR, that’s roughly a 7.4% margin. You can do the math quickly on your phone before you commit.
A Local Challenge: The Cash Dilemma
One thing that uniquely affects us in the Springs is our demographics. We have a huge population of military personnel from Fort Carson and Peterson SFB who get lastminute orders for overseas. They need large amounts of foreign cash, fast. And they often get desperate. I’ve had young soldiers ready to pay any fee because they’re shipping out in 48 hours.
We set up a system to help. If you can give us 72 hours notice, even for larger sums, we can source the currency at a much better rate from our Denver wholesalers and pass those savings on. It’s a small thing, but it matters. Planning ahead, even just a little, is the single biggest moneysaving tip I can give anyone in El Paso County. The dry climate and big temperature swings out here make people spontaneous, but that spontaneity can cost you hundreds at the exchange counter.
Verifying Legitimacy and Local Rules
This is critical. Any business exchanging currency in Colorado must be licensed as a Money Transmitter. It’s not just a suggestion; it’s state law. This protects you from fraud and ensures the business meets financial standards.
You can and should verify a service’s license through the Colorado Department of Regulatory Agencies (DORA). It’s a quick online search. I’ve seen a few popup “services” over the years, usually near the university district targeting students, that operate in a gray area. Don’t risk it. If they can’t show you their license, your money isn’t safe. The City of Colorado Springs also requires a general business license, which is another good thing to ask about.
Frequently Asked Questions
What’s the best way to get foreign currency in Colorado Springs?
For the best combination of rate and convenience, use a dedicated currency exchange service (not an airport kiosk) and call ahead to check rates and availability. Your bank is a good backup if you have time to wait for an order.
Do I need an appointment to exchange currency?
Most places in the Springs don’t require one for standard currencies and smaller amounts. But for sums over $2,000 or for less common currencies, calling ahead ensures they have the cash and can lock in a better rate for you.
Is it better to exchange money here or in the country I’m visiting?
For major currencies, it’s almost always better to get a small amount here for immediate expenses (taxi, food) and then use ATMs at your destination for the rest. Your bank’s international ATM fee is usually less than the exchange spread.
Can I sell back my leftover foreign currency?
Yes, most exchange services will buy it back, but you’ll be subject to another exchange spread. The rate to buy and the rate to sell are different. We usually recommend keeping a small amount as a souvenir rather than losing value twice.
So, if you’re in Colorado Springs and need to change money, start by making a few phone calls. Get a rate quote from two or three of the established local providers I mentioned. Compare it to the interbank rate. That fiveminute call could save you enough for a nice meal downtown. After all, that’s what the money is for in the first place, right?