If you are not vigilant, you may pay currency exchange fees cancel out your savings. Below are are 3 ideas to help you evade unreasonably high exchange rates.
How to Avoid Huge Currency Exchange Fees
If you travel repeatedly then you probably engage in currency conversion a lot; and every time you do, your bank tries to rip you off as much cash as they can in the process.
If you are not careful enough, you might pay fees and interests that cancel out your savings. Here are 3 ideas to help you evade unreasonably high exchange rates.
If you are yet to pack your bags, spare some time and hunt for the best exchange rates.
I recommend Banks and credit card unions because they offer the best exchange rates and won’t charge irrational fees to exchange currency.
In case you are out of options, but would still like to exchange currency prior to leaving for your trip, try out airport kiosks and stores. However, kindly note that their exchange rates are generally low, and fees are high and numerous. Avoid this option at all cost.
Plan and apply for one of these cards before leaving for your trip and consequently use them instead of cash wherever possible. Kindly avoid using your “no foreign transaction fee” cards on foreign ATMs because you’ll be charged huge interests and fees faster than you can say Banana.
If your predetermined destination is not card friendly and only operates more in cash, exchange currencies before leaving for your trip.
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Annalie Coetzer Travel Oholic and Lifestyle Blogger
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