Travel recommendations for currency / currency exchange

To consider making a currency exchange when we visit certain countries abroad is very common. The doubt is always there and the rules are not always the same. That if we use ATMs, changes at the airport, at a local or remote bank, exchange agencies or even with people we meet on the street. Each of these forms has its pros and cons and today we are going to try to analyze each one of them.

Travel recommendations for currency / currency exchange

Currency exchange on our trips

The first question we ask ourselves when traveling is whether we take home the currency already exchanged or do it directly at the destination. The first is obvious. We live in a country in which we trust in a certain way and in which we speak a common language. Therefore it is very easy to inform. In fact there are three very clear options, go to a bank, exchange office or process it online.

Change in a bank before traveling

First of all comment that the change of currency in a bank usually requires several days in advance. Most banks require a reservation so that in 24 hours or more they give you the currency. This operation has a commission and therefore does not have to go better compared to exchange offices. In addition, if we later want to return part of the money exchanged, the current change will be applied to you, whether for better or worse. Of course, as a general rule, changing in a bank is more important than changing directly at the departure airport. In fact, the more we change, the better the operation will come out, obtaining an average profit of 5%.

Travel recommendations for currency / currency exchange

Change in an exchange office

Usually and especially at the airport, these operations, despite indicating that there is no commission, is applied at the exchange rate instead of the final amount. The main advantage is that you get the currency in the act and in some situations a paper to be able to return the currency at the same price you bought it in case the value of this changes. Very useful for dollar for example. If there is no hurry, it is better to change it at the bank or by online currency exchange agencies.

Currency exchange in an online office

This method is very novel. We are used to obtaining the currency exchange in a physical way and almost on the spot. With this method we simply indicate what amount we want to change and then it is delivered to the address in 48 hours and for free if the amount is greater than 500€. Store pickup is also available, but of course it will depend a lot on our location. But best of all, the change offered is really good.

Travel recommendations for currency / currency exchange

Payment abroad by credit / debit card

An option that can leave us on account depending on the bank to which we belong. If we are in the Euro zone, we will not pay anything since we use the same currency. If we are outside the Euro zone, the average touches the 3% on each operation, therefore it is time to get accounts.

Get money from an overseas ATM

This is a double-edged sword. If we do it within the Euro zone we will have to pay the bank commission, around 3.7% and 4.7% according to Kelisto. If we are out of it, we will have to add around the 3% For the currency exchange. Therefore, if we make calculations, this may not be profitable on many occasions.

Travel recommendations for currency / currency exchange

By the way, there are several banks that do not charge commission for taking money abroad, only the currency exchange. Some are online and other physical entities depending on the type of card usually from debit.

Currency exchange at an office at the destination

As we discussed earlier, the airport It is not usually the best option. In the destination, the ideal is to go to the center and look at the commissions and the cost of the currency from agency to agency. It is normal to find things that do not hurt us or come in handy, rather halfway. They are simply to fix a problem that we had to have solved in our country of origin. However, I must admit that in some circumstances the commission is not so high.

Travel recommendations for currency / currency exchange

In some countries, as in Cuba, the exchange agencies are managed by the state. Here the change usually varies every day and interestingly it sometimes comes out better than going to a bank directly.

Currency exchange at the hotel reception

Only valid for specific occasions and in great need. Generally the established commission is high.

Raffles Hotel

Offer for Viajaporlibre

As we mentioned earlier, online agencies today offer very good change. For example, at the time we wrote this article, the Euro / Dollar exchange rate was $ 1,1676 per Euro. This means that € 500 was approximately $ 581,377. the change came to $ 560.46, this without applying our discount codeTRAVELER. This means that the change applied is $ 1,1209 per Euro, which is very good, and that the discount is not applied !!

Currency exchange offer - Promocode: VIAJALIBRE
Travel recommendations for currency / currency exchange

Ria has 12 physical stores throughout Spain and offers one of the best exchange rates in the market. With a simple payment by card or bank transfer, you will receive the exchange and the agreed currency within 48 hours. Easier impossible.

Sponsored post thanks to Estuary but written by Viajaporlibre with our own personal opinion

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