Tips for Easier Currency Exchange

Switching currencies in a foreign country can be quite overwhelming, especially if it is your first time. Knowing where and how to do it safely should be a top priority before you embark to your destination. Make sure to alert your bank you will be out of the country, do your research and follow these simple tips to save you some of the hassle.

Know Your Exchange Value

Your money can be worth more or less depending on where you go in the world. Using websites like OANDA will show you what the value of your dollar is. Simply plug in what currency you have and what you want to change to and the converter does the work for you.

Wait to Swap the Bills

Do not exchange your money until you have gotten to your location. Changing your money while still in your native country or in the airport can cost you quite a bit in fees. Waiting and doing some shopping around on exchange rates can save your final cash count.

ATMs

With the convenience of ATMs almost everywhere, getting quick cash is easier than ever. The machine will convert your money automatically to give you the correct exchange. You can also avoid heavy fees this way. Most banks will only charge a flat fee while using ATMs outside of their network. Make sure to check with your specific bank to see what they charge per transaction.

Avoid Cash

If you can, avoid cash all together. With the ease of paying with debit and credit cards, cash may not even be necessary depending on where you are and what you are doing. Paying with your card automatically converts your currency and makes carrying foreign money less stressful.