Foreign currency gives most of a headache when we are thinking about travelling abroad.
Should I buy foreign currency from Dollars to Euros at home before I go?
Or should I bring Australian Dollars and change when I arrive?
Or should I withdraw cash from ATMs?
There are two rules that every traveller should keep firmly printed on their mind.
1: It is almost always better to withdraw cash using cards at the ATMs located in the country where you’re visiting.
2: If the ATM gives you a choice of which currency you’d like, always choose the foreign currency.
Various surveys have compared what it costs to switch to the foreign currency bank at home versus via automatic once abroad. The survey covers four of the most common credit and debit cards. The currencies tested were the euro, US dollar, British pound and the Thai baht.
Subscribe to our newsletter to be alerted when new articles are posted.