Do you find yourself asking where to exchange leftover U.S Dollars for Pounds or maybe how to trade in Australian Dollars for Hong Kong currency for a multi-stop trip? When you find yourself out of the country, currency exchange can get exhausting. You want to get the most from your money and I’m sure skip out on any extra fees in the process. Let me break it down for you; is it best to take your money to a local bank or get money from a cash point (a.k.a. ATM machine)?
If you are the type of traveller that plans their trips ahead of schedule you should know you do not necessarily have to wait until you are out of the country in order to exchange your money. Now depending on the bank you use in your home country really depends on how exactly this process will work. However, the basics of what happens (in case you’ve never done this before!) is the following:
So as you can see this may involve some planning but if you simply call ahead you can easily get the time-frame your money exchange will take.
Travellers who are on the road more frequently tend to choose money exchange through an cash point/ATM machine. You might choose this option because of the convenience and the fact there are ATMs just about anywhere you go. If you do not have the time before a trip to go to your local bank this is definitely the way to go. So what reasons should you use an cash point to exchange your money:
However, exchanging money through an cash point can have its problems:
I think the bottom line, as you’ve no doubt concluded, is to plan ahead when it comes to currency as there’s no perfect scenario! What are your thoughts; do you plan on exchanging your money at your local bank or an ATM cash machine?
Photo Credit: redspotted
Posted : Thursday, January 3rd, 2013 at 11:00
Andy Hayes is a travel journalist currently based in Seattle, Washington. When not soaking up the Pacific Northwest lifestyle or enjoying life on the road, he is spending time hanging out on his own travel lifestyle magazine, Sharing Travel Experiences.