Are you planning your next adventure overseas? Before you can bask in the local culture, indulge in delicious cuisine and enjoy the local attractions, you’ll need to exchange your cash for local currency. However, foreign exchange rates can vary significantly from one provider to another, and knowing how to get the best exchange rates when changing money is essential. Here are some tips to help you secure the best possible exchange rates and ensure you make the most of your international travels.
1. Research the current exchange rates
The first thing to do before exchanging your money is research the current exchange rates using reputable online sources or a handy currency converter app. It is recommended that your comparison includes at least three trusted portals to establish the range in market rates. Armed with this knowledge, you can confidently compare and ensure you’re getting the best deal possible.
2. Shop around and compare exchange rates
When it comes to exchanging currency, shopping around and comparing exchange rates can be a smart move. Banks, currency exchange offices, and online providers are all potential sources of currency exchange, and each provider may offer different rates. It’s important to keep in mind that exchange rates may come with additional fees or charges, so make sure to read the fine print and compare the total cost of the transaction before making a decision.
3. Choose the right time to exchange your money
Exchange rates are not fixed and fluctuate constantly. Thus, choosing the right time to exchange money can make a big difference. Keep an eye on the exchange rates over time, and consider exchanging your money when the rate is in your favour.
4. Exchange your money online
Want a quicker, easier and fuss-free way to change your money? Do it online! Changi Recommends FX Online’s ultra-convenient click-and-collect currency service offers travellers total flexibility in terms of getting local currency.
With FX Online, you can order from 19 currencies at incredibly competitive rates from the comfort of your own home. No more lugging around huge loads of cash or scrambling to find a reputable money changer – you even save time and money travelling down to money changers! Simply pay for your currencies online using PayNow, and collect them at our convenient T1 or T3 Changi Recommends counters before you fly!