Travel money best rates can be explored after you know the importance of knowing the current foreign exchange rates. Foreign exchange rates can be known through on line currency calculators which give the correct exchange rate. As the foreign exchange rates change every day, it is important that calculators reflect correct values. Having checked this, when you start for your journey, and land at the airport, the first thing being an ignorant traveler you will do is to approach those currency exchange kiosks. But, that should be avoided in any case.
The reason being, those small foreign exchange counters do not offer best travel money exchange rates. Also, they normally charge commission and they do not have a desirable inter-bank rate. Hence, it is always desirable to get foreign exchange from ATM because they only charge interbank rates which are better rates than charged by those kiosks. What you can do is to withdraw almost all money that you may require during the trip and which you can handle. One of the benefits to withdraw all most all of the money is to reduce the amount of duration that you may require to use the ATM, therefore reducing the fees on ATM withdrawals.
Another way to get travel money best rates is to buy things through your credit card. However, you need to check the fee for the foreign currency purchase. This fee however is very low and is better than the cash or traveler's checks. It is advised to use your credit card for large purchases like accommodations, tours, train tickets, airfares, etc. Some credit cards would not even charge the foreign fee. You can purchase foreign currency from your bank or exchange bureau before you start your trip. But this is not too cost effective since they will be charging a commission and you wont get the inter-bank rate.
The reason being, those small foreign exchange counters do not offer best travel money exchange rates. Also, they normally charge commission and they do not have a desirable inter-bank rate. Hence, it is always desirable to get foreign exchange from ATM because they only charge interbank rates which are better rates than charged by those kiosks. What you can do is to withdraw almost all money that you may require during the trip and which you can handle. One of the benefits to withdraw all most all of the money is to reduce the amount of duration that you may require to use the ATM, therefore reducing the fees on ATM withdrawals.
Another way to get travel money best rates is to buy things through your credit card. However, you need to check the fee for the foreign currency purchase. This fee however is very low and is better than the cash or traveler's checks. It is advised to use your credit card for large purchases like accommodations, tours, train tickets, airfares, etc. Some credit cards would not even charge the foreign fee. You can purchase foreign currency from your bank or exchange bureau before you start your trip. But this is not too cost effective since they will be charging a commission and you wont get the inter-bank rate.
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