Getting Foreign Holiday Money Without Your Spending Going Overboard
When you are planning a getaway to another country, there is a lot to think about. You want to check the country's climate and current weather to decide what kind of clothes to bring. If you are bringing blow dryers, laptops, curling irons, or other electrical appliances, you want to find out if you need an adapter. You want to make sure that you are carrying the correct documents with you, and find a secure way of keeping them. And you need holiday money to take with you!<p />There are lots of different ways to get foreign currency, and it can be difficult to decide which one is the best option. Here are some of the good and bad aspects of each of them.<p />Buying Foreign Currency From Your Bank<p />It might seem that having your money with you when you leave is a good option, but it is also risky, because you could lose it. In addition, you will have to wait in long lines at the bank, and you may have to go to a specific branch, and not all bank branches keep foreign currency on hand for exchange.<p />Buying Currency At Currency Exchange Booths<p />Because these booths are omnipresent in most tourist cities, they can seem like the most convenient option. However, they often charge exorbitant service fees. Also, if you are relying on currency exchange booths to convert small amounts of cash many times during your trip, it is harder to keep track of your money, and harder to budget.<p />Getting Cash From ATMs<p />Although this may seem like a good option, since you can use your own debit card, you may be charged all kinds of fees that you are not even aware of. Many banks charge fees on top of whatever fee the ATM itself charges.<p />Using Travelers' Checks<p />Although travelers' checks are more secure than carrying cash, and you may get a better exchange rate, they can still be difficult to carry around and keep track of. Even though they can be insured, you wouldn't want to go through the hassle of losing them and having to replace them.<p />Buying Pre-Paid Currency Cards<p />This option is a newer one, and is, in my opinion, the most convenient and secure. These cards are as convenient to use as credit cards, but without as many fees, and the exchange rate is much better than it is with most other options.<p />You should weigh all your options when deciding how to obtain and carry your holiday money, but I definitely recommend the pre-paid cards! Have a wonderful holiday!
About the Author
Tom Fisher writes about finding the best exchange rate for euros, amongst other things. He would recommend http://www.fairfx.com for foreign exchange.
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