There are many reasons why people need to change currency. Maybe for a vacation, maybe for a business trip or to pay someone overseas. Whatever the reason there are plenty of things you should be aware of, some of which will save you money, help make the transaction secure and make life easier.
On this page you will find our guides to making more of your currency when you change it. We will cover the things to avoid such as high fees for exchange, making sure you know the latest exchange rate before you get quotes from services, and certain issues which are specific to particular countries.
Number One Reason Why People Change Currency
First and foremost, the majority of people change currency when they travel to another country. Obviously you need another currency to spend when you are away on vacation or a business trip. Whilst many people leave it to last minute (at the airport) or simply go to their bank for convenience, they are often the most expensive ways to get your foreign exchange.
Banks charge a hefty fee, and often do not give you a competitive exchange rate. Banks are not specialists in dealing currency, so this service is not their sole focus, hence it’s expensive.
The airport currency exchange kiosks can often give you a shocking rate of exchange. Why? Simply because they know this is the last chance to get some currency before you get on a flight to your destination. They can see you coming!
If you plan ahead you will get more for your money. Take some time to register with a currency specialist. You will get a great exchange rate, usually with zero commission, and most companies now offer free next day delivery. So your money arrives by special recorded delivery, and all your worries are taken care of. Want to try a tested and trusted service? Visit here and get a free quote.
Sending International Money Transfers
Second to vacation money, is sending money overseas using an international money transfer. Although you don’t get to see real “currency” in your hand, you are changing currency electronically. Maybe you have a bill or mortgage to pay in another country. You get a quote on exchange, and the amount you need to send is calculated in your local currency.
Again, banks are expensive for this type of service, and so is Paypal if your are sending large sums. A specialist service will advise you on the best times to send money, based on their understanding of the currency markets, and will often bend over backwards to help because they want your business. You will get a low cost transaction that is safe and secure to any international destination.
Plan in advance! If you are going to be sending money overseas on a regular basis, for business or personal reasons, open an account with a trusted specialist and begin a good working relationship. This way, they will call you from time to time and tell you when it’s a good time to make a payment. You never know, it could end up saving you thousands over time!