Travelling abroad is exciting but if you’re not careful, poor exchange rates and hidden fees can eat into your budget fast. Here’s how to make sure you get the best value for your money.
1. Avoid Airport Exchange Counters Airport currency exchange booths are convenient but they almost always offer the worst rates. You could lose up to 15% of your money just by exchanging at the airport. Always exchange before you travel or use your bank card abroad.
2. Use a Travel-Friendly Bank Card Cards like Wise, Revolut or a zero-fee travel credit card give you near-perfect interbank exchange rates with little to no fees. These are far better than carrying cash or using local ATMs with high charges.
3. Check the Mid-Market Rate First Before exchanging any money, use our Live Currency Converter to check the mid-market rate. This is the real exchange rate — any rate significantly lower than this means you’re paying fees.
4. Avoid Dynamic Currency Conversion When paying by card abroad, always choose to pay in the local currency. If a terminal offers to charge you in your home currency, decline — this is called Dynamic Currency Conversion and it always comes with a bad rate.
5. Plan Ahead Monitor exchange rates in the weeks before your trip using our Historical Exchange Rate Calculator. If rates are favourable, exchange early.
Conclusion: A little planning goes a long way. Use the right tools, avoid the obvious traps and your travel money will stretch much further.