You can’t own a property unless until you have this piece of paper with you. MONEY. A basic need of every human being in this competitive and racy world. On a funny note, if seen from a larger perspective, it seems like money would take precedence than food and water. With such importance being given to money, you are forced not to lose money at any cost and you will have to be careful when handling money more than how would you have been usually. So here we bring to you a few important points to remember when you are willing to convert your currency to the local currency of your destination, on your holiday trip.
Money Exchange on the fly:
With your tour itinerary fully loaded, you can’t spend time on searching for random agents all around the city. Hence it is advisable to get your currency exchanged at the Travelex counters or other Forex dealers at the airport lounge. Though foreign exchange is a can be a pain-stake for the seller, it serves to be a lucrative business to the buyers. Even though Credit/Debit cards are accepted at majority of the city hangouts, it is always good to carry a small amount of money with you and this small amount can be exchanged at the airport once you land and this is going to keep you safe by all means.
Look for ‘the best’ deal than a ‘perfect’ deal:
Every action today has become a business and money exchange is no exception. FOREX is a serious business and loads of money is made out of it and hence help yourselves from being trapped to the marketing minds by being 200% carefulJ. The primary advantage of using the forex services at the airport would be to save time. Though you are going to pay 10-15$ extra, it still makes sense for a smaller amount. If the amount is going to be huge, then the option of considering bank’s exchange rate is 100% fine. But to pay for your taxi and other basic needs, you can’t waste time looking for a perfect deal. The best is always okay than the betterJ.
Though being obsolete in most part of the countries, there are a few merchants who still continue to accept travelers cheque. This is most probably available only at the Forex counters at the airport lounge and other private forex agents tend to ignore this service. Upon receipt of this travelers cheque, one tends to sign it which may backfire in case of a loss or theft of the cheque. Still the issuer of the cheque will be able to reimburse the loss the incurred, but the process of claim is really cumbersome. It is a best practice to sign the travelers cheque only during payments and not in advance. With ATM and Credit cards, in today’s world, it would be a nightmare to use these cheques. Travelers Cheque stands to be one of the advantages of having your currency exchanged at the airport rather than at a random agency.
So, keep your eyes wide open when you use a travelers cheque and be informed about the exchange rates through newspaper, so that you are not ripped off by a bigger margin.
Have a happy flight and a bargain free exchange J