TOP Currency Exchange Advice! International Travel Money Tips 💸

I’ve got a ton of international travel money, tips that I’ll, be exploring at large in this weekly video series to help you travel Smart in style that’s, your cue to subscribe to my channel by the way in this episode, I’m going to show you how to take your money abroad and spend It effectively by sharing my top three currency exchange. Tisi’ll also share the worst possible way, to exchange currency, which, unfortunately, is how most people do it.

Let’s get to it. Thank you.

Let’s start by talking about how to get cash in the first place and how to exchange currency at the best rate. There are two ways to get foreign cash at the best rate. The first one starts before you even leave home by getting the cash. You need for your trip from your bank.

Your bank may have certain common currencies like dollars euros and pounds in the branch, so you can just walk in and ask for, however much you want easy peas in other cases, you can log into your online bank accountant Order foreign currency to be picked up. At your local branch in a few days, the advantage here, in addition to getting the best exchange rate, is that you will get crisp new bills. Which in some countries is very important when I was in Ecuador.

Us dollars are the common form of currency there, but a lot of vendors scrutinize the money, and they won’t accept bills that are torn or overly worn out your second-best way.

To get foreign cash at the best rate, is to visit the local ATM at your destination. You’ll get the bank’s exchange rate, which has the least amount of markup, and while you won’t always get the newest bills for the most part, ATM stole out cash that Isin pretty good condition. Now I’m a little bit of an ATM nerd and I have another video chockfull of mistakes that you can make while using international ATMs abroad.

So, I highly recommend you check that out before you venture abroad and stock up on cash at your destination, youkan checks the description for a link to that episode. This will help you avoid some of the pitfalls that you can make at ATMs that are more expensive than they need to be.

There are plenty of advantages to using ATMs to get the cash you need for traveling as opposed to stocking up on cash before you go. First of all, you don’t need to travel with a pile of cash on you, which cane a security risk, since, if you lose it, it’s gone neat an ATM.

You can just withdraw the cash you need for a few days or a week, for example, instead of for your whole trip and if you’re traveling long term or through multiple countries, it’s a downright necessity to get the cash along the way as opposed to traveling with everything you need from the start. Now, regardless of whether you’re getting a whack of cash from the bank before you go or even a bunch from the Atam, I suggest you check out my episode about how-to carry cash safely, so you can take your money abroad as securely as possible, having shared the two best ways to Get foreign currency at the endif.

This episode I’m going to share the worst way to. Do it it’s a trap that everybody falls into at, one time or another, me included, but before that there’s one more international travel money tip that will get you the best exchange rate. I use this almost every single day, but ironically, I only discovered it a few years ago, which, for somebody who’s been traveling full-time since 2007 is abet of a travesty, but better late than never. I say and, that is to use a credit card with no foreign transaction fees.

Most credit cards have a sneaky secret, and that is, if you charge something in a foreign currency, they tack on an additional three percent to the bank’s currency, exchange rate, anthem pocket the difference. It’s totally invisibles, if you don’t know about it, as I didn’t until few years ago, you’re none the wiser but three percent on everything you charge really adds upend. It’s totally unnecessary, a credit card with nonforeign transaction fees, which is also expressed as.

No FX fees perform currency exchanges, at the bank rate so make sure that you’ve got one of these cards when you travel abroad and don’t forget to use it. When you order something online in another currency too, for example, I subscribe twosome online services that charge in US Dollars, andas a Canadian. I use my no FX credit card to pay for these things to get the best exchange rate okay. Now that I’ve told you the best currency exchange and best travel money tips, let’s talk about the worst way to exchange money abroad, and that is to use the currency exchange, kiosks that you, see at airports and in tourist areas at your destination.

These kiosks, especially the ones on the street, are hotbeds for scams these guys, Aregood.

If you want to read a humorous article about how, I experienced every possible money exchange scam in the space of like an hour in Bali, then check the description speaking of which here’s aside note about scams. The only reason I knew I was getting scammed, while I was in Bali – was because – had read up in advance about local scams, to watch out for researching local tourist scams, is something that I recommend anybody do before the travel. So, you can protect yourself.

Accordingly, currency exchange booths at airports will be less likely to scam you with something like sleight offhand, but the commissions and markups are insane and, don’t be fooled by the big sign that says. Nocommission trust me they’re, making their moneythey just do it by marking up the exchange rateand pocketing the difference. This leads me to afine final and slightly unconventional tip about how to carry cash while traveling and that is to spend any foreign currency. You have before you leave the country by spending the cash that you have before you leave the country, you’ll avoid three problems, one!

You won’t need to use a currency exchange counter and face the exchange markups two.

If the bills you have are slightly worn, you might not be able to exchange them.

Anyway because, they won’t be accepted at the exchange booths and three, it’s actually illegal to leave certain countries with the local currency in hand two. Examples are India and Morocco. So, if you ‘reordering foreign currency from your bank before you go or if you’re visiting the ATM at your destination, don’t get more than you realistically need, not only for travel security reasons but also once you have local cash, then no matter what, you do. You have to pay fees to exchange it and paying unnecessary fees is not my style speaking of style.

Please follow me for more tips and check out my previous episodes designed to help. You travel Smart in style. I nonradon aka the professional hobo and I will catch you next time.

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