After your trip is booked, you should start thinking about currency exchange. It is actually one of the best ways to save money, to get the most out of your trip! So, before you travel, take a look at these tips to help you get the most out of currency exchange.
Learn The Rates
In order to get the most out of your currency exchange, you need to know what the current exchange rates actually are. Use the Westpac currency converter or similar tools that can help you check the exchange rates daily. When you know what the rate is and how much your money is worth, you will be able to get the best rate possible! Start researching and checking the rate daily before you travel.
Choose Your Destination
If the destination of your trip is flexible, you may want to consider choosing to travel to an area where your money is worth more. Check the exchange rates in several countries and see where you can get the most for your money. Traveling somewhere where you can get more for your money may be the smartest travel choice you make. Your trip will be cheaper, and you can do and see more!
Exchange Before you Go
While you may think that you can get currency once you are abroad, you may want to look into exchanging your cash before you get on a plane. Getting cash from your local bank or using an online currency exchange service before you travel can save you a lot of money. To begin, you will have time to shop around and compare various exchange rates and fees, choosing the vendor that offers the best options. You can also take your time to make your currency exchange, waiting for the rates to be favorable. The sooner you start looking into the rates and converting your cash, the more likely you will be to get a good rate. Get cash delivered to your house, to your bank or loaded onto a travel card before you travel and get the best rates possible.
Convert Your Money Once
One of the easiest ways to get the most out of your currency exchange is to convert your cash once. Plan your travel budget and decide how much cash you will need while abroad. Take out exactly this amount, no more and no less. When you take money out once, you will avoid paying transaction fees multiple times. You will also be able to skip converting your cashback at the end of the trip (which can happen when you take out too much money). Proper planning will help you save so start planning your budget before you travel!
Use Currency Exchange Tools
Before you travel, look into downloading useful currency exchange tools like the Westpac currency converter app or something similar that will convert a price quickly. When you are abroad, all the prices will be listed in the local currency and you may want to use a quick app to see what the price would be in your native currency. Using apps and specialized calculators can help you navigate prices easily and get the most for your money. Download the apps before you travel and give them a try so you are familiar with how they work.