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Last updateSat, 17 Feb 2018 8am

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Best places to exchange currency before a trip

All set to start your abroad trip? 

Then currency exchange might be your next step to be done before you start your overseas journey. 

Exchanging currency is not a hassle today. Advanced facilities and widespread currency exchange counters all around the globemakes it an easy process today. Although exchanging currency is not a big deal, there is scope for those who think and act wisely! Currency exchange is something that anyone can do whenever they move abroad, but what really matters is the loss and gain incurred while exchanging currency. These two can occur while dealing with foreign exchange. But the level of loss can be minimized if we exchange currency from the right place. 

So which are these right places to exchange currency?  

Scroll down and find out those best places for your currency exchange.

Best places to exchange currency before you move abroad

  • Banks 
  • NBFC’s
  • Authorized Money Changers

The above listed are the best and safest places to exchange your currency before you leave for your foreign trip. Currency exchanges from these places will help you to snatch the best rates for your currency. However, in case of currency exchange from money changers, make sure that the agent you approach is an authorized one. So that, you can prevent any fraudulent activities. 

The main thing you have to take care while exchanging your currency is, never opt to convert your currency from any of the foreign exchange kiosks in airports. This is because, it may push you to a severe loss. The major reasons that make foreign currency exchanges from airports a great mistake are;

Why airport currency exchange is not safe?

Expensive Option- Currency conversions from foreign exchange kiosks at the airport is an expensive option. 

High Charges- You will be charged by a commission of around 10 to 15 percent. 

Less Bargaining Power- As you are left with no other options, you can’t bargain either. 

Loss of Money- Since you have to pay more for exchanging currency at airport counters, you will lose a good amount of money.

Change of Plans- Money lose at foreign counters in airports may force you to change your trip plans, as you have shortage of money!

Things you have to keep in mind while exchanging foreign currency

Try to carry multi-currency pre-paid travel card:  this will help you to pay without any hassles.

Share your itinerant plans to your bank: this will help you to keep your ATM/Credit card from being frozen, prevent from frauds...

Please be aware of the international fees of your ATM/Credit card: so that you can estimate your expenditures accordingly.

 

 

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