Being in a foreign place can be eye-opening and refreshing, but when it comes to finding quality in travel, it all comes down to a matter of money. Travel money is what gets you from point A to point B, brings you the food on your plate and the experiences you can’t justify missing. That said money is not worth the same amount in every country. Here’s how you can avoid paying unnecessary fees while exchanging currency.
1. Never Exchange Currency From Airport Outlets
Exchanging your currency from airport outlets can be an expensive option, so never keep this process for the last. Airports charge you a 10% to 15% commission on foreign exchange. Exchanging currency at airports is a given way to lose a fair amount of money even before starting the trip. Here are 8 Mistakes Most People Make That Turns Best Trips Into Worst Nightmares.
2. Buy Your Foreign Currency At Least A Week Before Your Travel
It would help if you got your foreign exchange at least a week before your travel. If you are too pressed for time, do not delay more than three days before your travel. Currency rates can fluctuate daily. So, if the rates are high, you can always wait for two to three days for the rates to fall instead of making that last-minute purchase.
3. Put More Money On Forex Card
You will always get a better rate for a forex card, so put more money on the card. It can be a good idea to carry 30% of the money in cash and 70% on a card. You can make most purchases on the card, and it is a safer option too. Also, ensure that you keep an extra forex card with you. Most do not charge anything extra for the spare card. Even if it costs, it can be cheaper than exchanging cash. Here are 7 Stunning International Beach Destinations That Are As Cheap As Travelling Within India.
4. Compare Exchange Rates Before Buying Currency
Exchange rates for currency vary from vendor to vendor, so be sure to compare the exchange rates from at least three vendors before buying. You can also use websites and applications that let you compare exchange rates in your area. The vendor will deliver you the currency in a day, so do not hurry while making the purchase.
5. Never Use Your Debit Card Abroad
Sure you can use your debit card abroad but think twice before doing that. Your Indian debit card contains currency in INR, and when you swipe it outside India, the transaction happens in the foreign currency. Swiping your debit card includes a currency conversion mark up ranging up to 5%. On the other hand, your forex card with local currency and is devoid of any such markup. Here are 10 Gorgeous Countries With High Rupee Value Where You Can Travel Like Royalty.
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