Foreign Exchange Rate
If you are going abroad, here are 6 tips for getting good exchange rates
for dollar:
First for credit cards and checks:
Tip 1: Before you go abroad, check out what fees your credit-card
company will charge you for international transactions.
Tip 2: For traveler's checks, try to exchange them at a branch of the
bank that issued them.
Tip 3: Check the back of your ATM card or credit card for symbols of
international ATM network companies like Cirrus and Plus. If those are
on your card, then your cards will be accepted at their international
ATM networks. You can get very good exchange rates --sometimes even
the best rates -- simply using your credit card or debit card.
Then for actual Forex dealing to be done by you:
Tip 4: Foreign exchange dealers in USA tend to charge more than those in
other countries. So, it is better to make most of your exchanges at your
destination country.
Tip 5: Change only enough money for your immediate expenses (i.e. taxi
fare, coffee and snack, tips, etc) either in USA or at your port of entry to
the country you are visiting. Some of the worst exchange rates are usually
found at airport and train-station booths.
Tip 6: The best rates are usually found at banks and post offices. For
example, in France, you will get the best rate with almost no exchange fee
at La Poste. The worst are hotels and the "tourist" exchange bureaus found
on every street of Europe.
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