Where Currency Exchange when you are overseas is most often at a bank, a bank operated money changer, or an independent money changer. In countries such as Thailand where currency exchange occurs most frequently is at a bank operated money exchange counter - often found in the street, sometimes attached to a bank but more often not. As the banks control the rates of their own foreign exchange booths there is little difference in the rates you will get where currency exchange occurs.
In countries such as Philippines where currency exchange occurs most is at privately owned money changers - where the exchange rates offered by different money changers can vary enormously. Therefore it is best that you survey a few different ones before settling on where currency exchange should happen regarding your own money.
In more developed countries such as Australia you might expect to not have to worry about variations in the rates quoted where currency exchange can be made. That is a big mistake. Rates can vary considerably even among the banks. And banks quite often exercise discretion over the rate they might offer you. Do not make the mistake of just accepting whatever rate the bank first quotes you. The rate is highly negotiable. You should do your homework before going to where currency exchange is provided and be prepared to tell the bank what the lowest rate for the day is from what your survey tells you. The first step should be hoping online and seeing what the forex rates are quoted in the markets. Which is a good reason to bookmark this page or to write it down and keep in your diary - or file it in your email account so you can refer to it when you get online overseas. Start your currency education today - learn to trade forex.
In countries such as Philippines where currency exchange occurs most is at privately owned money changers - where the exchange rates offered by different money changers can vary enormously. Therefore it is best that you survey a few different ones before settling on where currency exchange should happen regarding your own money.
In more developed countries such as Australia you might expect to not have to worry about variations in the rates quoted where currency exchange can be made. That is a big mistake. Rates can vary considerably even among the banks. And banks quite often exercise discretion over the rate they might offer you. Do not make the mistake of just accepting whatever rate the bank first quotes you. The rate is highly negotiable. You should do your homework before going to where currency exchange is provided and be prepared to tell the bank what the lowest rate for the day is from what your survey tells you. The first step should be hoping online and seeing what the forex rates are quoted in the markets. Which is a good reason to bookmark this page or to write it down and keep in your diary - or file it in your email account so you can refer to it when you get online overseas. Start your currency education today - learn to trade forex.
