When traveling, take note that there are many ways you can actually minimize your expenses and get the best foreign money exchange rates whilst avoiding annoying fees. Doing so helps you further stretch your dollar on your next overseas trip.
First things first, you need to research your desired exchanged rate. The most effective way to know if you are acquiring the best foreign money exchange rate is by knowing the prevailing rate. Prior to leaving for your overseas trip, make sure to do proper research. If you will be away for a long while, it is highly advisable for you to check periodically the rates so you can keep track of any major or minor changes.
Also, if you do use credit cards or ATM cards, you will most likely get the excellent interbank exchange rate specially when purchasing foreign currency. Usually, such rates is 2-7% better compared to rates acquired compare travel exchange rates checks or cash exchange. When you are making large purchases, do try to make use of credit cards when paying for hotel bills or car rentals. Do note that a lot of credit card companies add in transaction fees for purchases done in foreign currencies.
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