Is There a Fee When Exchanging Currency?
Exchanging currency in any foreign country is going to incur fees. Yet how much you will pay in fees largely depends on where and how you are exchanging currency. Certain memberships to travel agencies like AAA, or possessing specific credit or ATM cards may help you save a little bit as you travel. At present, the cheapest method of paying for things in a foreign country is to use your credit card. Alternately, consider using an ATM or debit/credit card for exchanging currency. The trouble is, you can’t always tell exactly what the fees will be if you’re using foreign ATMs, unless you have accounts at specific banks. For instance, if you have an account with Bank of America or Citibank, fees for using the ATM may be waved if you use an affiliated bank in a foreign country, and you can expect to pay about 3% of the amount withdrawn for exchanging currency. For all other ATMs unaffiliated with these banks you may pay a percentage amount of a flat fee for withdrawals. A good tip is to ge
Exchanging currency in any foreign country is going to incur fees. Yet how much you will pay in fees largely depends on where and how you are exchanging currency. Certain memberships to travel agencies like AAA, or possessing specific credit or ATM cards may help you save a little bit as you travel. At present, the cheapest method of paying for things in a foreign country is to use your credit card. Alternately, consider using an ATM or debit/credit card for exchanging currency. The trouble is, you can’t always tell exactly what the fees will be if you’re using foreign ATMs, unless you have accounts at specific banks. For instance, if you have an account with Bank of America or Citibank, fees for using the ATM may be waved if you use an affiliated bank in a foreign country, and you can expect to pay about 3% of the amount withdrawn for exchanging currency. For all other ATMs unaffiliated with these banks you may pay a percentage amount of a flat fee for withdrawals. A good tip is t
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