Travel

Currency Exchange: Tips and Tricks

Traveling to another country requires plenty of preparation. Accommodation, transportation, and packing luggage are a few of the tasks a person has to do before going overseas. Another crucial part of traveling is currency exchange, as you’re going to be helpless without having the right notes in a foreign country.

However, exchanging currency isn’t as simple as going to a random counter and handing over money. If you’re looking for ways to save money, check out these tips for getting foreign currency:

Avoid exchanging money at the airport

Sure, it’s convenient to exchange your money where you’re taking your flight, but exchange bureaus at airports cost a lot more than an average bank. The rate is still ridiculously high even if they say there’s no commission or fees.

Besides the counters, you should also avoid changing your money with airport ATMs. Unless you have no choice, avoid doing it at an airport.

currency exchange rhb

Apply for a credit card with no foreign transaction fees

Traveling with a credit card provides many benefits to you such as access to exclusive airport lounges and purchasing items without foreign transaction fees.

We’re not telling you to use it all the time though. Credit cards aren’t always the most convenient options especially when you’re buying small and cheap things like a drink. Use it when you’re shopping or paying hotel bills.

ATMs are better than currency exchange counters

Exchanging currency with ATMs can be a wise move depending on the machine you’re using and your bank’s policy. It’s most likely your bank will charge you a flat fee if you when using a foreign ATM, and the foreign bank may levy the flat fee too.

Flat fees mean you should exchanging in large sums instead of small amounts for multiple times throughout your trip.

Research before you travel

Googling on the internet about the country you’re visiting is a must before getting on the airplane. Besides finding the best restaurants and the hot tourist spots, take some time to research on the country’s spending habits.

For example, don’t expect to pay by cash in a card-centric society like Denmark. In Germany, it’s the opposite where most merchants don’t accept credit cards.

Conclusion

It’s crucial to handle your money carefully, especially in a foreign country. Remember to do plenty of research before traveling to another country.

Looking for foreign currency exchange rates? Visit https://www.rhbgroup.com/products-and-services/rates-and-charges/treasury-rates/foreign-currency-notes.

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