Currency Exchange Tips

Currency exchange can be very frustrating especially if you are travelling to a new country. If you have not experienced this, then probably you have heard about the horrors of being charged a lot of fee when you are exchanging your own hard-earned money. I have been a victim before but now I have mastered the international currency game and I would like to help you too. I hope the following tips will help you with currency exchange.

  1. Choose to pay in local currency

When you are using your card in a foreign country then you have probably noticed that when transacting you are usually asked to pay either in your local currency or in the currency of the country you are in. Always go for the option of paying in the currency of the country that you are in. when you use your local currency, you will be charged some percentage higher than the exchange rate.

  1. Use ATM’s

ATM’s are your best bet when you want to withdraw cash. Most ATMs will only charge you a fee of around $5 for banks that are outside their network when you withdraw money. This is better when you are withdrawing large amounts of money. The fee might be more but it is lower than exchanging money at the currency exchange places. If you use military banks, you are more lucky since this do not charge international fees.

  1. Exchange at a home bank

Do your exchange in the bank you at your home bank before you live your home country, this way, you will not be charged crazy fees because you are their customer. If you will be staying for long, and you have cash that you have not exchanged yet, open an account in the country you have travelled to.

  1. Go online

It is both safer and cheaper to exchange currency online, https://www.mamooti.com/exchange/, and it is even more convenient since you can do it anywhere and at any time.