Many times, when traveling, people forget about currencies. So, the only possible option, is to get it done at the new country you are in. But, what if you don’t speak the language? it can actually turn into a nightmare real quick. Even worse, some countries actually force you to do it at local exchange centers with a weak rate. In order to save you the trouble of that, here are few tips on exchanging currency before your big-travel-day!
Is It Wise To Exchange Currency At The Airport?
If you do not want to go insane trying to exchange money, the easiest thing is to do it before you leave on the trip. In most cases, people tend to do it at the airport itself. However, it’s not the best of ideas if you are not in a hurry or completely lost. In fact, airport exchange currency places are expensive. Usually in the form of abusive commissions or very weak exchange rates. That is, if you have Euros and want Dollars, it is possible that instead of the market price they pay you a few cents less for each Euro. Which, of course, means a significant loss of your money.
Currency Exchange Centers
These are centers (usually small) that are dedicated to “selling you money.” In fact, they allow you to exchange your money for other currencies, always in exchange for a small commission. The good part? Even if they are not as fancy as at the airport, they usually have a wider variety of currencies. However, just like at airports, these centers profit from such money transaction.Therefore, you’ll always loose some dollars here and there, but they are a great option if you are in a hurry.
Banks, Your Best Bet
If you have time, going to the bank for currency exchange is your best option. In many cases, they don’t even charge you a commission, while offering you the best exchange rates. Therefore, you basically ”loose” less. Furthermore, the best thing about banks being international, is that you have access to them anywhere. This way, you don’t have to carry a lot of cash on you the whole time.
PS: If using your card to draw money abroad, you may have to pay an extra commission.