Best & Worst Places to Exchange Foreign Currency on Vacation




34 Nhận xét

  1. That's exactly what I do. My dad prefers to get a few euros in advance from our local AAA office. Also be aware that even though the ATM is the best transaction, expect a small commission on both sides. Here in Italy, if I use my ATM it's a few euros they take 2-3€ and also check what the cost is on your home bank's side. Again, it's worth compared to the traps Mark has just talked about!

  2. The worst place is at an airport where a currency exchange company has an monopoly and no competition like Travelex has at many airports .
    You should never have to pay an extra commission fee to change money

  3. Take my money out where in the other country? ATM? Doesn't that leave me with the same issue of needing to Take my money out where in the other country? ATM? Doesn't that leave me with the same issue of needing to exchange for their local currency?

  4. I found that post offices often times have the best exchange rate. In Canada, every bank is pretty good with exchanging. If you do go to an airport, exchange about 100$-200$ USD just to get by and shop around. In Thailand for example, many banks offer pretty reasonable exchanges. Also note, in many countries, have clean unmarked bills (especially the Where’s George markings) otherwise they will turn you away

  5. I tried this on my recent trip vs exchanging before I went. I didn't have any euro or pounds when I landed, I withdrew a small amount from a free ATM for tips and bus fare and used my credit card with no exchange fees for larger purchases. I saved so much money! And since I was alone, I felt much safer not hauling around a wad of cash.

  6. I went to Warsaw twice this year and i changed the money, in cash, on the city center ''Kantor''. The exchange rate of these places in Warsaw were surprisingly good! I didn't need to worry about

  7. Mark, I'm an American that has been living in Poland for 7 years, and to be honest, your recommendations aren't correct. I've never seen banks with good rates in any country in Europe. It's best to be aware of the rate and walk around to an exchange office that has a rate with no more than a 2% margin.

  8. In Korea, I found that Citibank has the best exchange rate and the worst locations. By that I mean, they are hard to find. And when I did not have a Citibank account, it took 2 hours to complete the paperwork.

  9. I also understand that where you can pay with a CC, they have among the best exchange rates. I try to have two different types of card that do not charge a foreign transaction fee. AMEX is not always accepted so I also have a mastercard. Most of my foreign travel is in the Caribbean where dollars are almost universally accepted though in some places change will be given in local currency, usually just the coin portion.

  10. My UK bank is Barclays. I use my debit card to take cash from an ATM this is what happens. Firstly, the exchange rate is terrible. Secondly, I'm charged a transaction fee and a foreign currency handling fee. Thirdly, the local Thai banking system charges an ATM usage fee. For £300 withdrawal, I get charged about£10 not including the crappy exchange rate! Wtf..!

  11. Just thought of something.  I understand that when you travel to Europe many countries like Spain or France will give you only a 3 month visa.  Is there a way to get a longer tourist visa so you could actually stay in the EU longer to immerse yourself in the culture of a country or two at more leisurely pace?

  12. What is your advice for what to do with any left over foreign cash, once you are at the next stop? I learned the hard way not to use the airport exchange when I gave them $40 worth of Japanese currency, and they gave me back about $18 worth of Chinese. Haha

  13. As far as my experiences are concerned, I consider using my card as not the most convenient option. The exchange rate tends to always be worse than in exchange points one can find in, at least, bigger cities in Europe, and at least Polish banks often charge extra for an international payment.
    I definitely wouldn't advice to exchange money in a bank (bad exchange rate) or Western Union (example: in Prague, if you change currency from Euro, the commision is 27%!!!) either. Being in Europe it is most convenient to have already Euro (in countries with another currency like Poland, Czech Republic)/Dollars in cash and find a local exchange point without commision. There is plenty of such places in touristic cities, but one should always be very careful and check the information before using their service, as for example the current exchange rate etc. (I can recommend the XE currency converter).
    And guys – please, never exchange money on streets! In Prague there is a plague of scammers who try to sell tourists old Belarussian rubles instead of Czech crowns. Even if you exchange money in a dedicated place, check before in the Internet how it should look – it might help you avoid troubles in countries, where they have their own local currency.

  14. Got cash at the supermarket checkout 😀 Bought some stuff asked X-amount cash-back. (euro to pounds) Seemed to be the cheapest option but did not work in every supermarket.

  15. Coins can be a bit of trouble. I actually changed my British coins into Euro coins on the ferry from Dover to Callais, France. Probably not the best exchange rare, but still better than having coins in my pocket that would get lost.

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