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Best Way to Carry Money Overseas


Finding foreign currency or money exchange locations is simple and easy but choosing the right method could save you a ton of cash. It is no surprise to learn that there are many hidden fees when exchanging money and what used to be a convenient way to get cash is no longer widely used and accepted.
Here are the best currency exchange options for travelers.
1. Credit cards: Credit cards are a must these days either to book a hotel room or make large purchases. Whenever you make a purchase in a foreign currency credit card providers charge more than ATMs by adding 2.5 – 3% on top of the spot rate.
 If you have a travel rewards credit card you get extra benefits that can save you a ton of money. Most of these cards include travel medical insurance and lost/delayed baggage insurance. With any insurance policy, read the T&C print to find out exactly what you’re covered for. Or use a multi-currency forex card for all your payment needs. Once the foreign exchange card is loaded, you can swipe it in the country you are travelling. These cards are visa/mastercards/ multi currency travel card and can easily be topped up.

2. Foreign exchange offices: Foreign exchange offices are located in prime areas and airports. They offer better rates than most of the banks and in some countries, their exchange rates are very competitive, but you cannot ignore any additional fees that they might charge.
If you’re looking to exchange money before you leave, foreign exchange offices will offer good value as long as you are aware of the process. The value is different for every currency so just because it’s a fair rate for one currency, doesn’t mean it’s the same for another.

3. Traveler’s Cheques: Though it is not widely accepted anymore, the traveller’s cheques are still billed as a convenient way to carry money for travel. It is well known that you would be paying a fee twice as it would involve commission on the cheques. They can give you peace of mind and you can consider it to be a safe bet but there are better options available these days.

To know more Best Currency Exchange Options For Travellers, visit source blog.
Source: https://yourexpertguide.wordpress.com/2019/01/11/the-5-best-currency-exchange-options-for-travellers/

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