Is there any way to get really small amounts of foreign currencies without getting ripped off?
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This entry was posted on Saturday, June 21st, 2008 at 8:19 am and is filed under Currency Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
June 21st, 2008 at 8:19 am
getting "ripped off" is a rather strong term. just because you may know that you pay a premium of, lets say, 10% above spot(before cost) does not mean you are being ripped off. when you purchase a gallon of milk you just don't know how much premium you pay. i am sure it is more than 10%.
June 21st, 2008 at 8:19 am
Use you credit card at the atm they only charge a 1% conversion fee.
June 21st, 2008 at 8:19 am
The best way to do this is if you can network to find someone who's come back from somewhere the currency you're interested in is used. If they have any cash left over, just exchange at the current rate. That way neither of you is paying commissions, fees, or premiums.
It really isn't all that necessary to have cash in advance these days. You can withdraw money from an ATM at your destination as long as you have a card on any of the major international circuits.
June 21st, 2008 at 8:19 am
AAA sells TipPaks in $50 of foreign currency. That way you have pocket change and tip money when you land… use your ATM and get currency when you land.