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It's important to find the best currency exchange rate when travelling abroad. Whether you're going on holiday or a business trip, you want to get the most for your money. There are plenty of options available to you for exchanging your currency: Pre ordering your desired currency from your bank, the Bureau de Change, using your bank card or credit card, and prepaid currency cards. Currency exchange rates are always fluctuating. But which option provides you with the best currency exchange rate?
You can pre order your selected currency from your bank. Although you must order your currency weeks in advance of your intended travel date. All banks charge a commission when ordering foreign currency. Commissions vary from bank to bank. Banks also charge a commission to exchange your foreign currency when you return home. It's always best to watch the currency exchange rates and try to lock in on the best exchange rate. This also means you'll be travelling with a lot of money. This is not only unsafe, but travelling with a lot of money in your wallet makes it hard to stay within a budget. When travelling in the UK and Europe, there are many Bureau de Change that will exchange your foreign currency. Such places aren't readily available within the U.S. and most small community banks will not exchange foreign currency. The Bureau de Change are located in airports, shops and banks in the UK and Europe. The Bureau de Change also charges a commission to exchange currency. Sometimes the Bureau de Change's exchange rates are higher than a bank's. Especially in more convenient Bureau de Change locations like tourist shops.
Another option is to use your bank card or credit card to draw out money as you need it, which is very convenient. But it also means you are subject to your bank's charges and the charges of the cash machine you use. In addition to being subject to fluctuating exchange rates every time you use your bank card or credit card, it's hard to monitor how much money you're spending and what extra charges are being added. It's also difficult to stick to a budget this way.
One of the best options available for converting your currency while travelling abroad are prepaid currency cards. Prepaid currency cards allow you to set a budget for yourself and stick to it. Any charges are paid when you set up your prepaid currency card. So there are no additional or surprise charges. You pre-load your prepaid currency card with your desired currency, which allows you to lock into a currency rate and optimise the best currency exchange rate available. You can use your card at most cash machines and prepaid currency cards are accepted at most shops and restaurants worldwide. It's like using your bank card or credit card. Unlike your bank card or credit card; You don't have worry about the fluctuation currency exchange rates every time you use it. You can keep your prepaid currency card for future travel and re-load it as needed.
When looking for the best currency exchange rate while travelling abroad, be sure to explore all of the options available to you. The most secure, widely accepted option that helps you stay within your budget and doesn't charge a commission is prepaid currency cards. Prepaid currency cards are the best option for value for your money.
Monday 29 March 2010, 09:39am
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