So, what do you do about foreign exchange when you’re planning on going to a new country? Do you worry about this before you go, or after you get there? Do you buy your money from the bank or at the airport? These are questions that every traveller should think about before they go off on their new journey. Here are some of your options to money exchange in india:
Currency Exchange Dealers in Your Home Town:
This is the first option that comes to everyone’s mind but, the margin & commission is very high. Foreign exchange rate changes every second but offline players keep exchange currency on daily rates.
Buy it From a Bank:
Mind you, chances are, banks only have it if it’s a major currency such as the American dollar or the British pound even if they do have other currencies, it’s usually in very small amounts. Apart from this, the fees they charge you when you exchange money are hidden.
Buy it at the airport once you land:
Most airports have currency exchange desks where you can convert cash. But this is the least advisable method for currency exchange, since they often charge high commission and transaction fees due to high overhead costs & also they have a regular business hours. For instance if the you can get a Dollar to INR rate at 63.50 online, Airports can charge anything from 69 to 71 per Dollar.
International credit cards:
Regular credit cards are another option, but credit card companies charge transaction charges every time you swipe your card for a foreign transaction.
Online Foreign Exchange:
Apart from better & live rates and savings, using online foreign exchange service gives you utmost ease and access to manage your foreign currency payments while giving you the transparency that your bank doesn’t. You can book your order 24*7 without leaving your comfort & your order will be delivered at your doorstep.
It is recommended that everyone should have some of the new currency with them, before even stepping onto the plane, for your peace of mind. So, before every trip, buy foreign currency from best exchange rate provider, buy as much as can afford or as much as you feel that you’ll need. You may even decide to keep a little bit for a souvenir! Good luck and bon voyage!