Tips for changing money when traveling
One of the most complex issues when traveling is the issue of money. This process of understanding everything that involves the change of currency and what is most beneficial can be very confusing and make your trip more expensive. Here are some tips on currency exchange near me:
Verify constantly how the change is
The tool that I use the most is Nihonex . Here I verify how much my currency is trading against the currency of the country to visit. The value of the currency can change from one day to another and not knowing about this will not let you know if it is good business or not what you are doing.
Avoid changing at the airport
How everyone knows, at airports everything comes out more expensive, water, coffee, food, beer and therefore also currency exchange. It is normal that we have the emergency of changing local currency when arriving and by obligation we need to change, now, if you are going to do it, change the minimum, what you need until you reach a change house in the city.
Compare in several exchange houses
Exchange houses are companies like any other, so your offer may change and that is why you should always visit several to see who pays more for your currency. The best way to compare is by asking for a specific amount, for example, use 3 amounts and ask: How much do I get paid here for $ 100, for $ 500 and for $ 1,000. Write down the amount they will pay you for each amount and in this way you can make a good comparison. It is important that you do it this way to avoid getting confused when you try to make the change in the calculator; it is much simpler to know if one side for $ 100 will give you 70 euros and in another 80, you know without having to do calculation where Dan 80 is much better. So that you have an idea of how much may vary, on my last trip to Italy, We changed to 82 euros for every $ 100 dollars and there were exchange houses that were paying 68 euros for every $ 100. That’s a difference of $ 14 less than you get for every $ 100 dollars, crazy!
Change more quantity and save the receipt
There are many countries that the more money you change, the better exchange rate they give you. If you travel with more people, group the money from around the world and negotiate the change under that amount of money. Then they keep the receipt and if they need to change more, even if it is little money, they honor you the exchange rate they gave you. This is something I used in countries like Spain and Greece. Investigate before the country, to see if this applies in the country you visit.
Carry high denomination bills and in good condition
In many countries, especially in Asia (Thailand, Philippines, Indonesia, Bhutan, etc) you get better exchange for $ 100 dollars bills than for $ 20 bills. For example, the last time I was in Thailand if I gave a $ 100 bill, I was paid 3,500 baht and if I gave 5 $ 20 bills they gave me 3,350 baht. It is also important that your money is not broken, stained, or old. Go to the bank before and ask that they give you money in good condition and that it is not one year younger than 2004.
Organize the money
The use of a new currency can be very confusing and more so in countries where the difference in quantity is huge (for example Vietnam that a dollar is worth 22,000 dongs), then when 100 dollars become millions, it can confuse you a lot and sometimes you can give extra money or buy things at excessive prices for not understanding the value of each ticket. To avoid this I do the following: I always organize them by denomination; I try not to mix the tickets. I always learn the value of a dollar and use the calculator at all times before paying.
Use of cards vs cash
The use of cards is usually more expensive than cash. This is something that can vary by country, but usually it is like that. Most banks will charge you for the use of international ATMs. If you have a card that does not charge you charges (for example, that of Charles Swab), you should verify that the rate of change that ATM gives you is good and not less than the exchange house. I use cards I see it beneficial when your trip is more than two weeks that will require a lot of cash. It is always good to carry cards for emergencies, whether it is theft, loss or another. Similarly if you feel more secure carrying a card and less cash, be sure to carry more than one card. Any situation where your bank or cooperative cancels your card for fraud possibility issues, you will have more alternatives.