If you have never traveled widely, then you have never had the pleasure, and I am being facetious here, of having to exchange your dollars, or home currency, for that of the land you are visiting.
As someone who has lived in Europe for six years, let me asssure you that it can be quite an experience.
In the article below, the author discusses the exchange of Dollars for Euros.
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Tips And Advice On How To Exchange USD For EUR
By John Lebowski
Are you planning to exchange USD (US dollars) for EUR (Euros)? Exchanging foreign currencies can be a headache at times and therefore by keeping the simple and easy-to-follow tips mentioned in this article in mind, you'll be able to exchange foreign currencies easily and without hassles in the future! The first tip in this regard would be to make comparisons before you fix in on a dealer from whom you'll be exchanging your US dollars for Euros. To do this, find out the exchange rates from different Forex dealers and then make comparisons to see which one is offering the lowest USD Euro exchange rate (if you are buying) and the highest rate (if you are selling).
Alternatively, you can also go for online FOREX dealers. There are some very good ones online which would offer the best rates. So it is advisable to do some research and see for yourself which one would be apt. These days, travel agents have also started offering Forex services as an add-on service to their main service, offering tickets to passengers because it makes sense and it is more convenient for the passengers to purchase foreign currency from the same place where they are purchasing their tickets. So, if you want to draw comparisons then you can also take the rates offered by local travel agents into account.
If the motive behind you wanting to exchange dollars for Euros is because you are traveling then you should not exchange directly from the airport before departure or after arrival since the rates at the airport generally tend to be higher than the rates offered by other dealers. Therefore, always purchase or exchange foreign currencies in advance before you board your flight because you will benefit more by doing this. Of course you don't necessarily have to exchange the entire amount that you need, you can exchange a majority of it from other dealers and in case you still require more foreign currency then you can always do it from the airport. It is more convenient this way and you don't have to worry about carrying so much cash with you!
When exchanging foreign currencies, start the process of watching the USD Euro exchange rate for reasonable rates early because the rates fluctuate daily. You'll just have to wait for the day when the rates seem reasonable and then you can immediately go for the exchange! http://postofficeexchangerate.com
Article Source: Tips And Advice On How To Exchange USD For EUR
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CITIES OF THE WORLD
Showing posts with label foreign currency exchange. Show all posts
Showing posts with label foreign currency exchange. Show all posts
Wednesday, March 7, 2012
Monday, February 27, 2012
Traveling to Foreign Countries Can Have Hidden Costs
We all agree that travel to foreign countries can be expensive. After all, there's the cost to get there, the cost of accomodations and meals, and the cost of in-country transportation...and that toothbrush you forgot to pack!
Since most countries want payment in their own currency, you will have to know how and where to exchange your home money for the local script.
However, just like anything else, some places to exchange currency are better than others and there are some methods of using YOUR money when abroad. Here are a few simple tips on how to hold on to more of YOUR money when exchanging it for THEIR money!
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Choosing The Best Currency Exchange When Travelling Overseas
By Everton E Elson
One of the most overlooked tasks when planning a holiday is the purchasing of foreign currency.There are a number of options with varying currency exchange rates.
Lets go through the options.
Credit Cards
Credit cards are a mixed bag. There are few specialist credit cards which offer the current exchange rate with no cash withdrawal fees. These cards will still charge interest even if paid in full. This is really as good as it gets. Most other credit cards charge 3% on top of the exchange rate and charge for cash withdrawals. Interest is also charged even if the balance is paid in full.
Debit Cards
Debit cards can be the worst way to spend money overseas. Almost all debit cards add between 2 and 3% on top of the currentcy exchange rate. The banks don't stop there. 1% charges are added for spending as well as a typical 1.5% cash withdrawal fee. Some banks offer travel friendly debit cards with certain account so I recommend speaking to your bank or check their website for special offers.
Travel Cash
Travel cash is usually easy to get hold of. Most travel agencies will offer 0% or a marginal commission fee with a competitive exchange rate. It is always a good idea to enquire a week or two before travel for obscure currencies but in general foreign currency can be purchased on the same day from Travel Agencies. If ordering from your bank please allow more time for delivery although some banks restrict this service for certain customers.
Never exchange money at airports or on ferries. To say that the exchange rate is unfavourable is an understatement.Also remember that debit and credit cards will charge an additional fee when purchasing currency at a Bureau de change.
Although travelling overseas with some foreign currency is advantageous it is not ideal.The travel money is not insured by the Travel Agent. If the travel money is lost abroad there is no there is no replacement. Your travel insurance may cover some spending money but will not cover the whole amount.
Prepaid debit cards
Prepaid debit cards are my preferred way of spending money abroad. The exchange rates are very competitive. They can be purchased at either Travel Agencies or Post offices. The cards with the best deals are found online however. All prepaid cards can be loaded without a fee either at the branch, online or over the phone even from overseas. Pre paid debit cards are commission free from outlets and loaded with money immediately. There is usually a charge of around 1$ for cash withdrawals but nor charges for using it as a debit card.I usually withdraw money no more than three times for a two week holiday and make debit card purchases for the rest of the time. Two cards can be ordered for the same account. In the event of the card being lost a replacement will be with you within 24 hours.
The cards companies are backed by banks so if they went bust your money is safe. If the bank goes bust you would not be covered so as a precaution It is always a good idea to load the money near the time of travel instead of using it as a place to store cash.
We enjoy our annual holidays and wish to share our travel tips and experiences with you all.
Come and share our experiences and tips at: www.wheretotraveltips.com
Article Source: Choosing The Best Currency Exchange When Travelling Overseas
================
CITIES OF THE WORLD
Since most countries want payment in their own currency, you will have to know how and where to exchange your home money for the local script.
However, just like anything else, some places to exchange currency are better than others and there are some methods of using YOUR money when abroad. Here are a few simple tips on how to hold on to more of YOUR money when exchanging it for THEIR money!
===============
Choosing The Best Currency Exchange When Travelling Overseas
By Everton E Elson
One of the most overlooked tasks when planning a holiday is the purchasing of foreign currency.There are a number of options with varying currency exchange rates.
Lets go through the options.
Credit Cards
Credit cards are a mixed bag. There are few specialist credit cards which offer the current exchange rate with no cash withdrawal fees. These cards will still charge interest even if paid in full. This is really as good as it gets. Most other credit cards charge 3% on top of the exchange rate and charge for cash withdrawals. Interest is also charged even if the balance is paid in full.
Debit Cards
Debit cards can be the worst way to spend money overseas. Almost all debit cards add between 2 and 3% on top of the currentcy exchange rate. The banks don't stop there. 1% charges are added for spending as well as a typical 1.5% cash withdrawal fee. Some banks offer travel friendly debit cards with certain account so I recommend speaking to your bank or check their website for special offers.
Travel Cash
Travel cash is usually easy to get hold of. Most travel agencies will offer 0% or a marginal commission fee with a competitive exchange rate. It is always a good idea to enquire a week or two before travel for obscure currencies but in general foreign currency can be purchased on the same day from Travel Agencies. If ordering from your bank please allow more time for delivery although some banks restrict this service for certain customers.
Never exchange money at airports or on ferries. To say that the exchange rate is unfavourable is an understatement.Also remember that debit and credit cards will charge an additional fee when purchasing currency at a Bureau de change.
Although travelling overseas with some foreign currency is advantageous it is not ideal.The travel money is not insured by the Travel Agent. If the travel money is lost abroad there is no there is no replacement. Your travel insurance may cover some spending money but will not cover the whole amount.
Prepaid debit cards
Prepaid debit cards are my preferred way of spending money abroad. The exchange rates are very competitive. They can be purchased at either Travel Agencies or Post offices. The cards with the best deals are found online however. All prepaid cards can be loaded without a fee either at the branch, online or over the phone even from overseas. Pre paid debit cards are commission free from outlets and loaded with money immediately. There is usually a charge of around 1$ for cash withdrawals but nor charges for using it as a debit card.I usually withdraw money no more than three times for a two week holiday and make debit card purchases for the rest of the time. Two cards can be ordered for the same account. In the event of the card being lost a replacement will be with you within 24 hours.
The cards companies are backed by banks so if they went bust your money is safe. If the bank goes bust you would not be covered so as a precaution It is always a good idea to load the money near the time of travel instead of using it as a place to store cash.
We enjoy our annual holidays and wish to share our travel tips and experiences with you all.
Come and share our experiences and tips at: www.wheretotraveltips.com
Article Source: Choosing The Best Currency Exchange When Travelling Overseas
================
CITIES OF THE WORLD
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