Credit Cards

Best Ways of Acquiring Foreign Currency

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For most international destinations, avoiding travelers checks and money exchange places will make using local currency easier and cheaper.

  1. Use a credit card with no-foreign currency transaction fee for every possible purchase. You’ll get A competitive exchange rate, and reduce the likelihood you’ll have leftover cash.
  2. Figure out how much cash you’re likely to need and withdraw part or all of it from an ATM. There’s usually one in the airport, train station, or hotel. You’ll get the best exchange rate and while you might pay a fee to both your bank and the local bank (although some accounts waive fees), that fee will still be less than the charges at a money exchange place.

If you only need a couple of bucks, exchanging at your hotel might sometimes be worth the convenience, but I’ve found using the two options above has saved me a lot of time and hassle.

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Living for the little (and big things) that make life so fun, especially mistake deals and crazy last minute weekend mileage runs across the world. www.twitter.com/klatravel

1 Comment

  1. James

    May 27, 2012 at 7:59 am

    Yup far and away the best rates, good advice. Advice on banks with lowest fees and cards with no foreign transaction fees requested.

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