How do you exchange money without getting fucked on fees when traveling?

How do you exchange money without getting fucked on fees when traveling?

  1. 4 months ago
    Anonymous

    withdraw from ATM

    • 4 months ago
      Anonymous

      More specifically, try to withdraw from ATMs that are directly affiliated with banks & credit unions. Generic/unaffiliated ATMs will not only give you bad rates, but will also charge an exorbitant service fee.

      Also, you will usually be given different exchange rate options. The ATM's exchange rate, or your bank's exchange rate. Most of the time, the latter will be more favorable.

      • 4 months ago
        Anonymous

        To add to this anon's post, sometimes ATMs from banks that will ask for a fee don't ask for one when you are away from tourist places/airports.

      • 4 months ago
        Anonymous

        >Also, you will usually be given different exchange rate options. The ATM's exchange rate, or your bank's exchange rate. Most of the time, the latter will be more favorable.
        I have never seen a situation where a local ATM currency conversion would have worked out to be a better deal than letting your bank handle it.
        Even if they offer a better exchange rate you can be sure that your bank will add some extra fees on their side.

        • 4 months ago
          Anonymous

          Depends on the bank in all reality. Wells Fargo has SHIT exchange rates vs. ATM's, one time I was going to Japan my bank wanted to give me 102 yen on the dollar, the ATM in Japan did 118 yen to do dollar. Sure it flux's here and there but it was better to do it in Japan.

          Like right now in Europe it's better for me to use an ATM somewhere and pull out cash than it was for me to go to my bank and get 85c on my dollar for a euro.

          • 4 months ago
            Anonymous

            That post wasn't about changing cash but having your bank do the conversion, not the ATM operator.
            For example if a burger visits Germany and uses his cards to pay or withdraw Euros the card terminal will sometimes ask if he wants do the transaction in EUR or USD.
            In 99% of the cases it will be much better for him to do the card transaction in EUR and let his home bank do the conversion for him.

      • 4 months ago
        Anonymous

        withdraw from ATM

        https://i.imgur.com/z6DsiAD.jpg

        How do you exchange money without getting fucked on fees when traveling?

        Make sure to hit "Decline conversion" on the ATM.

        • 4 months ago
          Anonymous

          I love that channel, but I have to admit it makes Prague look like a shithole

          • 4 months ago
            Anonymous

            >it's another albanian criminal episode
            yes we get it, albanians are scum, get some more material

  2. 4 months ago
    Anonymous

    If you're an American, Charles schwab debit card 10000%. Otherwise, I'd still do ATM but do one large withdraw at a time to avoid the stupid fees. Airport exchangers will still rip you off and the atm fees will be less in the end, believe it or not.

    • 4 months ago
      Anonymous

      yea i wanna get a charles chad debit card. they look nice and yea no fees.

      https://i.imgur.com/z6DsiAD.jpg

      How do you exchange money without getting fucked on fees when traveling?

      alternatively, just send yourself money via western union. make your sender your native country and then reciever yourself in the destination country. fees are usually competitive

    • 4 months ago
      Anonymous

      I use chime while CS is great chime is far easier to set up and maintain.

      • 4 months ago
        Anonymous

        I don't know, I saw this advertisement for chime (can't find it on youtube) and it ruined it for me.

        https://www.ispot.tv/ad/dCgB/chime-banking-early-payday-just-got-paid

        The best is just use a bank ATM, or pay with your card in local currency (never convert). A big bank, like HSBC or somewhere where you have an account. Avoid any ATM without the name of a recognizable bank on it, and whatever you do, never go to any of those stands where people convert money for you in tourist places or airports. You can also pre-order foreign currency and pick it up at your branch before you leave.

    • 4 months ago
      Anonymous

      I have a standard credit union card and their fees are pretty reasonable: $1 for out-of-network cash withdrawals, regardless of country, as well as an additional 1% surcharge. As long as I avoid the ATM’s currency conversion (DCC) option, I get my bank’s exchange rate, which is almost always current.

      • 4 months ago
        Anonymous

        >ATM currency conversion (DCC)
        That's the stuff to avoid:

        That post wasn't about changing cash but having your bank do the conversion, not the ATM operator.
        For example if a burger visits Germany and uses his cards to pay or withdraw Euros the card terminal will sometimes ask if he wants do the transaction in EUR or USD.
        In 99% of the cases it will be much better for him to do the card transaction in EUR and let his home bank do the conversion for him.

        ,

        More specifically, try to withdraw from ATMs that are directly affiliated with banks & credit unions. Generic/unaffiliated ATMs will not only give you bad rates, but will also charge an exorbitant service fee.

        Also, you will usually be given different exchange rate options. The ATM's exchange rate, or your bank's exchange rate. Most of the time, the latter will be more favorable.

        • 4 months ago
          Anonymous

          Yes, I know. That’s why I said “as long as I avoid DCC.” It’s a fucking scam. I’ve seen DCC exchange rates being 10-30% lower than market rates.

          IIRC, I once consented to a DCC transaction at a PoS terminal in Istanbul. Exchange rate was 1 USD : 8.5 TL at the time, and they processed it as 1 USD : 1.8 TL, which was the fucking exchange rate in 2013.

          Luckily I was just drunk and buying Burger King, so selecting “USD” for my payment currency only lost me a couple dollars

          (Oh, that’s another thing to watch for—ATMs have DCC and other conversion bullshit, PoS terminals will sometimes ask if you want to do it in your home currency. Always go with the local currency, they’re just going to slap you with a shit exchange rate otherwise)

    • 4 months ago
      Anonymous

      >"You vill exchange the money and be happy"

      I've been using a wise account, seems really good so far.
      >Exchange rate is always pretty good
      >Only pay fees once you hit a certain monthly threshold or something.
      >Has pretty much every currency on it and I can convert between them on the app in literally 5 seconds
      >App gives me a quick guide on what the best options are for using money in certain countries: For example in Greece, it says 'always choose to pay in Euro. Withdraw up to 234.79 Euro for free'
      >Of the fees it has, the app is very transparent with how much they're charging
      >Card costs $10
      >Wise can supposedly help you open a bank account in some countries, giving you an official foreign account number so if you get a job in another country you can get paid legally.
      It's a debit card not a credit card. Yes a credit card can have it's frequent flyer points and rewards and shit, but if you're asking this question on sighsee, you're probably best staying away from credit cards for now otherwise they can get too dangerous too quickly.
      Wise seems to be the best option in my eyes.

      Wise is the best option for all traveling it moving countries. Just don't be in a rush to need the money and the fees are low and rate is awesome.

  3. 4 months ago
    Anonymous

    just use an ATM bro

  4. 4 months ago
    Anonymous

    >check the currency on the internet
    >check at least 10 businesses which exchange money to get the best with the best currency
    Retard

  5. 4 months ago
    Anonymous

    I've been using a wise account, seems really good so far.
    >Exchange rate is always pretty good
    >Only pay fees once you hit a certain monthly threshold or something.
    >Has pretty much every currency on it and I can convert between them on the app in literally 5 seconds
    >App gives me a quick guide on what the best options are for using money in certain countries: For example in Greece, it says 'always choose to pay in Euro. Withdraw up to 234.79 Euro for free'
    >Of the fees it has, the app is very transparent with how much they're charging
    >Card costs $10
    >Wise can supposedly help you open a bank account in some countries, giving you an official foreign account number so if you get a job in another country you can get paid legally.
    It's a debit card not a credit card. Yes a credit card can have it's frequent flyer points and rewards and shit, but if you're asking this question on sighsee, you're probably best staying away from credit cards for now otherwise they can get too dangerous too quickly.
    Wise seems to be the best option in my eyes.

    • 4 months ago
      Anonymous

      Seconding Wise.

    • 4 months ago
      Anonymous

      Seconding Wise.

      >"You vill exchange the money and be happy"
      [...]
      Wise is the best option for all traveling it moving countries. Just don't be in a rush to need the money and the fees are low and rate is awesome.

      I'm sorry but how is this supposed to not read like an ad?

      • 4 months ago
        Anonymous

        >I'm sorry but
        You appear to be lost fellow channer

        [...]

      • 4 months ago
        Anonymous

        Someone recommended it to me and told me he had no complaints. Amazing service!

      • 4 months ago
        Anonymous

        Why the fuck do I care if you use it or not? It's what I used and I gave my experience.

        • 4 months ago
          Anonymous

          okay mr shill, can you mention at least two bad things about this thing you're getting paid to promote?

          • 4 months ago
            Anonymous

            They supported the development of vaccine passports.
            Since they're based in London their system obviously doesn't work worldwide.

            • 4 months ago
              Anonymous

              and nothing about the service quality itself. i see, literally perfect

              • 4 months ago
                Anonymous

                Yeah, their service is pretty good, just remember that like with all online-only businesses if something goes wrong you might struggle to get your problems solved.
                The same obviously applies for their online-only competitors.

              • 4 months ago
                Anonymous

                To what extent have you used this card? Are you frequently traveling?

              • 4 months ago
                Anonymous

                I used their services when they were still called TransferWise.
                The transfers made it all to their destinations on time without as much garden gnomeing as regular banks do like to engage in.
                I cannot comment on their card product.

          • 4 months ago
            Anonymous

            I recommend Wise too for their bank services, but I can't recommend their card over another pre-paid card. It's a visa debit card but it's handicapped. The bonuses of it are you can access multiple currencies in your Wise account (if you have multiple currencies in it) using the same card, and the fees are relatively low (since it's pre-paid). The obvious bad things that I can see are they still charge a FX rate if needed, they have ATM fees, and there is a very low monthly ATM withdrawal limit. Depending on where you are, there's probably better pre-paid credit cards to use for traveling. However, there's no annual fee, so it costs nothing to have Wise as a backup card.

            • 4 months ago
              Anonymous

              So wait, you can use a Revolut and a Wise card in parallel to max out your free withdrawals?
              Plus you get a free backup card !

      • 4 months ago
        Anonymous

        t. retard that has never used modern banking and still uses boomer garbage with overinflated fees

  6. 4 months ago
    Anonymous

    Find some exchange place on the streets, when you know where to look you get something very close to market rate.

    • 4 months ago
      Anonymous

      I guess it depends on the country, in Japan the exchanges at the airport are fairer than the ones on the streets, not counting withdrawing out of 7/11s

      • 4 months ago
        Anonymous

        I was specifically thinking about Japan, you have some places near Shinjuku Station with unbeatable rates. Haven't been there in a while so maybe things changed.

  7. 4 months ago
    Anonymous

    What is a "good" exchange rate, anyway?

    I was actually looking at foreign currency options offered by my bank. This is a service where I order foreign cash while I'm still at home, then collect it at the bank before I leave the country.

    I was looking at the exchange rate for Euros, and it was about a 4% difference from the live market rate at the time. I know that there is no realistic way to obtain cash at exact market value, and I will always pay some kind of difference, but how good or bad is 4%?

    • 4 months ago
      Anonymous

      >What is a "good" exchange rate, anyway?
      Is this a rhetorical question? You want mid market rate, or as close to it as you can get.
      >I was looking at the exchange rate for Euros, and it was about a 4% difference from the live market rate at the time...how good or bad is 4%?
      I'm trying to think of how this could be a good thing but it might seem bad by the way you phrased it. Do you mean their foreign exchange markup is +4%? If so, that's terrible. 2-2.5% is not good. It's the most common, but not good. 1-1.5% is considered good. You want to aim for mid market. Some cards have it, mostly pre-paid or with annual fees. Can't offer suggestions on cards without knowing your country.

      • 4 months ago
        Anonymous

        >it might seem bad by the way you phrased it.
        I can try to rephrase it if I wasn't being clear enough.

        >compare currency exchange rates on OANDA/XE/etc.
        >they say that 1.00 of Currency "A" is equal to 1.50 of Currency "B"

        >check what the bank is offering
        >for every 1.00 of A that you give them, they'll give you 1.44 of B
        If it's bad, then it's bad. I just wanted to double-check.

        • 4 months ago
          Anonymous

          Yeah, it's bad. 4% FX markup is about the highest a bank can charge. I suppose it's okay if you're just going on short budget trips once in a while, but keep in mind it's an extra 4% on top of everything you pay. And if they charge that much for FX, you can bet they'll have high fees for using foreign ATMs, which will be combined with the local ATMs fee. For example, Thailand is $6 local fee per transaction, and your bank might charge $5, then another 4% FX rate. So you go to withdraw $100 worth of Thai baht and you're paying $115. If you withdraw $200 worth of Thai baht, it's $219. You can't withdraw much more than that at most Thai ATMs. That shit adds up fast. Use your high fee credit card at home to build credit, and find yourself a low/no-fee prepaid card to use while traveling.

  8. 4 months ago
    Anonymous

    Why is everyone in this board beliw the age of 18? When you become an adult you get to use credit cards that let you pqy in different currencies with near perfect exchange rates and no extra costs. Is this not a thing in america?

    • 4 months ago
      Anonymous

      You'll see when you actually start travelling.

      • 4 months ago
        Anonymous

        I gaurantee I travel more than you gay, what is wrong yhat you can't just take a card withdraw from ATMs? Its literally the cheapest, easiest way

        • 4 months ago
          Anonymous

          >withdrawing cash using a credit card
          Even if you meant a debit card there are still countries where changing cash is still more convenient or cheaper.

          • 4 months ago
            Anonymous

            >cash advances from a credit card is cheap and a good move
            what a retard

            In english speaking countries we generally refer to both credit and debit cards as 'credit card'. And no, there is no country on earth where withdrawing money in your home currency from an ATM, then find a place that exchanges it and getting it changed at their exchange rate is cheaper or more convenint.

            • 4 months ago
              Anonymous

              I am glad that you see the limits of your knowledge, now you only need to work a bit on your attitude.
              There are many places where changing cash is either more convenient or cheaper.
              >land borders without a wide selection of ATMs nearby
              Easier to change some currency in the nearest city before heading to the border than having to rely on money changers, ATMs and taxi drivers ripping off their captive audience.
              >any rural areas in countries without any high-value bills
              Let me tell you how much easier it is to carry a couple 50 dollar spread over your wallet and luggage than dealing with stacks of local currency or trying to find a merchant that will give you a cash advance on your CREDIT card.
              >any sanctioned or unrecognised countries or territories
              No need to explain much, bring cash or don't go at all.
              >any place with low ATM withdrawal limits
              >any place with high ATM fees, no matter the operator
              Those suck, especially when they have daily limits or flat fees.
              >any country with a forex black market
              Enjoy overpaying the official exchange rate, in some countries local ATMs dispense both local currency and USD/EUR for a small fee for you to exchange at a nearby black market.

              Of course the above points don't really apply to the Europe and North America but as soon as you leave the cushy boundaries of the first world you will experience at least one of them.

        • 4 months ago
          Anonymous

          >cash advances from a credit card is cheap and a good move
          what a retard

  9. 4 months ago
    Anonymous

    >be me
    >flying home from Swisserlan
    >have about 60Chf in paper cash another 15 in loose change
    >go exchange counter because about to get on plane home
    >hey can you exchange all this back to USD
    >its not enough and we cant do coins
    >wutok.jpeg
    >leave Europe with almost $100 USD in now useless currency

    Why wont they exchange? I know I'm getting ripped off but I'd rather recuperate someone of my money back. Also, just use ATMs.

  10. 4 months ago
    Anonymous

    Unironically Wechat. Only service that actually gives me a rate higher than what the official rate on google is. Only con is that you need to find a China shop to exchange money. fuck banks. they are garden gnomes

  11. 4 months ago
    Anonymous

    A lot of talk about "wise". I use Revolut free tier, mainland Europe.
    >pay with card whenever I can
    >decent free withdrawal limit
    Might even upgrade if I decide to switch to it as a primary bank account

  12. 4 months ago
    Anonymous

    My bank will exchange it for me before I leave without fee but if I need more while I’m there just use an ATM my bro

  13. 4 months ago
    Anonymous

    I use Wise, N26 and Revolut.

  14. 4 months ago
    Anonymous

    Capital One 360 checking account debit card
    Pull out available funds from foreign atms at the exact exchange rate. No fees charged by capital one, maybe $1 or so flat fee charged by the bank of the atm if that but nothing from capital one

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