Author Topic: Avoiding currency transaction charges  (Read 3506 times)

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Avoiding currency transaction charges
« on: June 23, 2011, 12:18:51 pm »



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



Offline csykes

Re: Avoiding currency transaction charges
« Reply #1 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.