How To Do Just About Everything
By eHow Travel Editor
Rate: (8 Ratings)
When you're traveling abroad, banks and legal money changers offer the best rates when you need to exchange one currency for another.
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Comments
wakeupcall said
on 6/26/2008 Never ever expect the rate shown on the local newspaper. That is not retail rate used in currency exchange houses. That's wholesales rate only good for financial institutions to do million dollar transactions among them without involving actual cool cash.
Varo said
on 5/14/2007 ATM's have better rate, but beware your bank and the overseas bank will charge you quiet a bit. Also, for all those people recommending the exchange upon arrival beware of your surrondings. I suggest exchanging in your local Airport before departure, I've always been able to get a better rate when exchanging a large amount ($1,000.00 or more).
Anonymous said
on 11/22/2005 Find out how much departure airport taxes will cost and tuck that amount away, with a little extra for a sandwich and drink while you are waiting for your flight home at the end of your trip. That will save you from desperately changing money at the end.
Anonymous said
on 11/22/2005 Don't take many traveler's checks; use your ATM card to get cash when you get there, and charge whatever you can. You get the bank's exchange rate this way, and don't have the charge or hassle of traveler's checks.
Anonymous said
on 11/22/2005 You often get a better exchange rate if you pay for items abroad with your credit card rather than with foreign currency.