Currency Exchanges
 

Does anyone know the best place to get the best rates for currency exchange? I have been told that airports generally are the best because of volume.

Thanks.

ATM cards generally offer the best rates, but you'll need to check with your home bank to see if they charge a fee for using ATM's outside of the U.S. (if you are a U.S. resident). My bank does not charge a fee for use of their card outside the U.S. Some other banks charge $3-5, or a fee and a per centage of the transaction. It all depends what's in your wallet.

:eek: An airport is the last place I'd convert currency. If you're arriving in a country, the best place to get currency is at an ATM. You should get the bank rate. Also, some banks may impose a fee.

If, on the other hand, you're arriving home and need to convert money back to your home currency, I would consider meeting up with local Flyertalkers to do an exchange. I'm not kidding. Just last Saturday night at dinner (on the dhammer53 Brooklyn Reality Tour), I saw someone paying for his meal (via an exchange) with euros. :eek:

When you depart from a foreign country, you can always buy something at the airport with your remaining cash;then, charge the rest.

Welcome to Flyertalk weiching.

Dan

Edit: Check out this post for additional info http://flyertalk.com/forum/showthread.php?t=556236

ATM Pins
 

ATM's are the way to go-PINS beginning with 0 will not work in some countries.

This IS the same thread the OP just started. :confused:

Do you mean another pointer thread, dhammer53?

If you visit some of the currency exchange rate sites, such as http://www.xe.com/ucc/, you will at least have some ideas as to whether your own banks are offering you decent rates. Not every bank is created equal. That's for sure.

Welcome to Groundhog Day! :D

FWIW we use ATMs as well.

In most cases, it's ATM's as long as your bank doesn't tack on hefty fees and you make larger widthdrawals if they do (doesn't make much sense to keep taking out $20 if they are putting a $5 fee on it when you can take out 400 for the same fee)

Airports are allmost always the worst places to get the best rate.

Depending on how much money you are talking about, it may not be worth it to search all over someplace for the best rate. Sure, you may save a few dollars, but it may be not worth it if it takes you all over someplace.

The most interesting place I saw currency exchange in action was at Fiorentino's on Saturday during dhammer53's Brooklyn Reality tour. Very impressive that there was a marketplace for the purchase of 45 euros that night. ^ ;)