Get More For Your Money When Exchanging Currency

02 June 2011 - Which Way To Pay

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Get More For Your Money When Exchanging Currency


If you are considering exchanging a large sum of money before going on a foreign holiday, do not wait until you get to the airport to go to the currency excahnge desk.

If you choose to buy travel money at the airport you will probably be levied $12 on every $100 you change. This exchange rate is far too high.

Using a prepaid foreign currency card will get you a far better deal. The more you change in one go, the more you will save.

Many people take money out from ATMs when they get to their destination. However, this method often leads to travellers incurring hidden costs: “Foreign exchange loading fees” are the banks’ term for charging you for withdrawing currency.

As always, a little bit of research goes a long way. Find out who will get you the best exchange rate when you need to swap money.

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