Most travelers know that they need to do some money exchanging prior to leaving for holiday, but what many fail to think of are the many circumstances in which they may need to exchange money while they are still far from home.
Cash Withdrawals
The first thing you may think to do is hit an ATM with a debit or credit card and simply withdraw some cash in the local currency for wherever you happen to be at the moment. This is one of the easiest remedies for the situation at hand, but you will find the fees that your credit card company and the owner of that foreign ATM charge you for that transaction to be quite shocking.
The fees with credit card withdraws away from home is simply absurd, which is why most people avoid this option at all costs.
Exchanging Euros for Local Cash
Your next likely resource would be local companies and banks that are located in tourist areas where you are likely spending a lot of your time on holiday. The problem with this is you will never get the best euro exchange rate from these companies, no mater what lines they feed you.
You may be able to get a more reasonable exchange rate if you went away from a tourist area to a bank in a residential community, but you still won’t get the lowest rate possible.
The Secret Revealed
So, what’s the secret here? How do you get the best euro exchange rate on your currency exchange when you are far from home?
It turns out you find the best rates the same you find them prior to holiday when you are at home in your own community! This of course means you go with prepaid cards that can be used around the world.
A prepaid card will not only offer the best euro exchange rate, but it will give you the option of reloading additional funds onto the card if you need it during your trip. They are simple to reload and will offer low rates that simply cannot be competed with through most local businesses and banks. You can also purchase them online, which gives you the ability to compare different cards to ensure you are in fact getting the best euro exchange rate out there.
Holidays are meant to give you a break from the stress of every day life, but when you run out of money and are worried about getting a reasonable exchange rate things can feel more than stressful. Give yourself a break and purchase a prepaid card or two prior to leaving.
Better yet, purchase one “just in case” emergency prepaid card to ensure you receive the same low rate that you received prior to your trip. Since these cards always have the same value no matter when they are used, this is a way to essentially lock in your rate and be prepared for the worst.
Get a FairFX card today for better rates on euro exchange.
Friday 23 April 2010, 10:54am
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