Adventure Cycling Association Forum

Regional Discussion Area => International => Topic started by: tallybicyclecamping62 on June 23, 2011, 12:18:51 pm

 
Title: Avoiding currency transaction charges
Post by: tallybicyclecamping62 on June 23, 2011, 12:18:51 pm
 ;D

 :o

Hi,

I am planning a world wide tour.  I would like to minimize currency transaction charges.  Has anyone been successful doing this and how?

Thanks,

TallyBicycleCamping 
Title: Re: Avoiding currency transaction charges
Post by: csykes on June 23, 2011, 03:08:41 pm
You often can get the best exchange rates by using credit and debit cards for cash and purchases. Most will charge a transaction fee (around 1%,) but it is offset by a much more favorable exchange rate.  Also see if your institution has agreements with banks where you are going. As much as I prefer my Credit Union overall, I was happy to find that my BofA ATM/Debit card had no ATM fees at either end when I used it at BNP/Paribas which is all over France.  The worst exchange rates are typically at the airports and exchange counters in tourist areas in most countries.