There is one pre-travel activity that everyone should put on their checklist before heading on a fun vacation. However, with a little research on how to get a better foreign currency exchange rate can help you save a little that you can put toward some other fun aspect of your trip.
Cash is Needed
Most people will be in need of local cash currency as soon as the plane hits the ground for a number of different purposes. You may need to catch a cab, take a bus or perhaps have that first meal in the country where you are now vacationing. Fortunately, the presence of ATMs throughout the world, especially at airports, allows you to have access to local currency as soon as you land. This is especially true if you choose to fly into major international airports.
Less Modern Convenience
However, you may find yourself traveling to a third world country where there is no ATM machine available. Of course, doing a little research before setting out on your trip will help you avoid a situation where your standing at the curbside seeking the services of the taxi and all you have on you is your own country's currency. It is always highly recommended that you obtain the currency of the country where you are going to travel to before you leave your home. It's also very important that you get a better foreign currency exchange rate before traveling.
Where to Get Foreign Currency
Buying foreign currency from a local bank or exchange bureau in your hometown before you go traveling abroad may not be the best option available to you for exchanging money. There's going to be a commission fee involved and you will not experience the benefit of the interbank rate you would get if you use an ATM or credit card. That's why ATM machines are available at major airports throughout the world and this is your best bet to get some local currency cash as soon as you land. Unfortunately, there is no guarantee that these machines will be working or that your particular type of card is going to work in that system. Throughout the world many ATM machines only accept the Visa/Plus network denying use of the MasterCard/Cirrus network.
Consider Pre-Paid Currency Cards
Obtaining a prepaid currency card is the most recent trend when it comes to funding any travel overseas. These acts much in the same way as a mobile phone funding card which you can top up with the currency of the country to which you are traveling. They can be used much like a credit or debit card to purchase items as well as withdraw cash from ATM machines while traveling abroad. Although there is a service charge fee for using this type of plastic, with a little online research you can find the company offering the best exchange rate and thus place your traveling funds on the card before heading out on vacation. FairFX levy no hidden charges, and some of the best exchange rates around. Take a look for yourself.
Consider combining the practice of bringing about $100 worth of your own currency along with you on the trip as well as purchasing a prepaid currency cards taken down to the best foreign currency exchange rate possible that will make your vacation trip conveniently enjoyable.
Monday 01 March 2010, 09:23am
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