From exchanging currency at the airport to shopping around for the best exchange in the high street or buying from banks, there are several ways and points for buying travel money. But finding the best exchange rate is the most important task otherwise high exchange rates and commission might ruin your whole travel budget.
Understanding the currency moves and planning in advance is the key to get a better rate while exchanging money in the home country as well as at the destination. Some simple money saving tips and exchanging hacks can make a big difference. Here are the simple 4 ways of money exchange that will make you a better traveller.
Use Tools And Watch Exchange Rate
The exchange rate changes almost every day that’s why the rate you get today will not be same tomorrow. So, it’s significant to watch the exchange rate during your travel to make sure you can score the best deal at the best time possible. Nowadays, online currency calculator and currency converter apps are popular among travellers which allow them to keep an eye on the fluctuating exchange rate and how much travel money will they get for a specific exchange rate. These tools will help in getting the best exchange rate and make you a better traveller.
Shop Around For The Best Exchange Rate
The currency exchange rate and commission fees change from provider to provider. That’s why it is better to shop around and check the exchange rate and commission fees from different banks, post offices, exchange bureaus and money changers. You can either visit different banks or check online the rates offered by the different money changers. Then compare different rates and choose the best provider offering the best exchange rate.
Investigate Your Credit Card Fees
Using travel and credit cards is the best and convenient way to use and withdraw travel money abroad. But if not choose wisely or you do not about the transaction fee then it might rip you off. Some cards also charge some extra fees for withdrawing cash in abroad and that crazy high hidden charges might break the bank. Whereas some companies or banks also offer travel cards which come with zero transaction fee and low interest on cash withdrawals in a foreign country. This is why it is important to check out your card’s fees and policies and try to buy use a travel card giving travel incentives with zero transaction for currency exchange.
Avoid Exchanging At ‘No Fee’ Bureaus And Airports
The ‘no fee’ or zero commission’ bureaus and airports are the worst places for buying travel money because they offer poor exchange rates with hidden charges and rip off travellers. Its good idea to use ATM when stepping into a foreign country but ATMs at the airports are crowded and then traveller might have to exchange currency at such exchange terminals. No, never ever exchange currency at airports. The best way to avoid airport exchanges is to order currency online after finding the best currency exchange so you can easily collect your money when arrived at the Melbourne airport.
