<p>Are you are set for life overseas or planning to travel for a relatively long time?</p>
<p>In the course of your preparation, you must get to know how you will get your cash exchanged without experiencing any niche.</p>
<p>Even if credit cards are accepted in most countries, there still comes a moment when you may need to exchange your cash, and based on your destination, you may need more than just cash.</p>
<p>When exchanging money, there are so many options but you can stick to these simple rules to save your money every time you exchange currency and get the best rates:</p>
<p>1. <strong>DO NOT EXCHANGE CASH BEFORE YOU DEPART</strong><br />
There is usually a lot of debate on whether you should exchange money in your country before leaving or not.</p>
<p>A few travellers may opt to have some little cash with them when they land in a foreign country.</p>
<p>However, if you want to have the best rates possible, wait until you land or arrive then exchange your currency.</p>
<p>This is because overseas exchange rates are higher compared to getting the right currency in-country.</p>
<p>According to a travel expert, travellers and tourists should wait until they arrive to withdraw money.</p>
<p><strong>2. DO NOT EXCHANGE CASH AT THE AIRPORT</strong><br />
Airport currency exchange deals are not the better option. currency kiosks that are located near popular tourist destinations are not good deals too. This is because they come at a higher fee and wider exchange margin.</p>
<p>If you exchange your dollars for local currency after landing and then changed the remaining local currency into dollars, you will end up losing money two times.</p>
<p>If you want to be safe, exchange your currency at a financial institution, not at an airport.</p>
<p>A bank or a credit union charge relatively little fee.</p>
<p><strong>3. USE AN ATM TO OBTAIN CASH</strong><br />
Withdraw cash directly from the ATM instead of exchanging notes.</p>
<p>You should, however, note that not all banks have foreign transaction or ATM fees. This may pose a challenge when you want to withdraw cash in the local currency.</p>
<p>The charges for withdrawing cash in the local currency can also vary within the range of $1 to $5 and a debit transaction fee of up to 3%.</p>
<p>You should, therefore, conduct some thorough research to obtain a card with the best rates and reduce the number of ATM withdrawals.</p>
<p>You also need to notify your bank before travelling abroad so they do not lock your card for what may appear as fraud.</p>
<p>4. <strong>GO FOR A CREDIT CARD THAT DOES NOT ATTRACT FOREIGN TRANSACTION FEES</strong><br />
Be wise when swiping your credit cards since credit cards attract more fee on top of the interbank rate.</p>
<p>According to a travel expert from Fodors, use your credit card for mega purchases only.</p>
<p>You should also avoid taking an advance on your credit card unless it is extremely necessary.</p>
<p>Pay in the currency of your host country to avoid losing money in the name of exchange rates and a hidden 3 to 3.5% privilege fee.</p>
<p><strong>5. REMEMBER, EXCHANGE RATES APPLY TO MONEY TRANSFERS</strong><br />
When sending money back home, ensure you get the best deal possible.</p>
<p><strong>Exchange rates</strong> differ depending on the transfer method. For instance, <strong>OFX</strong> has an exchange rate of less than<strong> 1%</strong> whereas <strong>MoneyGram</strong> charges up to <strong>4%.</strong></p>
<p>#<strong>SAVE</strong> YOUR MONEY WHILE TRAVELLING ABROAD.</p>

