Currency exchanging tips for international travelers
July 22, 2011
Whether you are traveling for work or school, international travel can be unnecessarily expensive, especially when you take currency exchange rates and fees into consideration. You can save money by exchanging your cash at a bank or other provider before you get to the airport, as fees are generally much higher at transport hubs, and the exchange rates may not be the best.
Dynamic Business also suggests comparing exchange rates between different service providers to find out which company will give you the most foreign bang for your buck. The internet is an invaluable resource for tracking this information down easily, which can save you some pre-trip stress.
Another way to be prepared is to purchase an international calling card before you leave. This can make getting in touch with relatives and friends easier while you are away, and you won't have to figure out conversion rates if the card is already in your native currency.
If you have to exchange money overseas, which is likely if you are visiting multiple countries. Some exchange services may offer "dynamic currency conversion," which charges foreign customers in their own currency. The news source warns that this seemingly convenient option often leads to customers paying higher fees and getting poor exchange rates.