When you plan a holiday or visit to any foreign location, it is obvious that you will come across a lot of expenses. Starting from transportation, accommodation, food to many recreation experiences, you will need money for everything. And there are quite a lot of chances that you will then search for foreign currency exchange services online.
Now many of you will argue that we carry our credit and debit cards along with us everywhere. I accept that these cards are boon while travelling abroad, but the truth is you will eventually get to a point when you’ll need cash. At that point, it would be harder to find a currency exchange counter with a good deal.
Also, it is not viable to withdraw or exchange 2-3 times a day as you will have to pay the foreign transaction fees every time you buy something with your debit card or buy foreign currency directly. You will be charged 3% to 5% of the transaction amount as transaction fees. So, it is a good idea to exchange a certain amount of money that you may need for 7 days at once. This will save you from several withdrawals, saving a hefty sum of money that might have been spent in transaction charges
Tip: Always keep at least $50 worth of local currency in-hand.
Where can you get Foreign Currency Exchange Services?
There are a number of options via which one can get his/her currency exchanged. Some of them are mentioned below:
You can reach out to your nearest bank for exchanging the currency you require after paying the applicable spread. It is said that they keep much less spread as compared to exchange bureaus. This will be an in-person transaction as you will have to visit the local bank, so it is mostly a trustable and satisfying experience. But the process is quite time-consuming as compared to online modes of foreign currency exchange services.
2. Authorized Dealers
These are financial institutions that have been authorized as a dealer to trade in foreign currencies. It can also be your travel agent or a forex dealer. You might come across some fake dealers and fraudsters too when searching for the right one. Moreover, their currency exchange spread is much higher than that of the banks or other means.>
3. Travelers Check/Card
If you are not fond of carrying currencies in your pocket, then you have an option of Travelers Check as well. It is not so popular nowadays, but you can get it from some banks or credit unions. You can even purchase a Travelers Check if you are a non-bank customer. The only difference will be that you might have to pay some extra cost, unlike the bank customers. In some exceptional cases, even the bank customers have to pay an extra fee, depending on the purchase size. The favourable part is even if it gets lost, no one else can use it because it is in your name. Unfortunately, it is not accepted everywhere and is available in only limited currencies. So, ultimately you have to rely on cash.
1. Order online from banks
Many banks provide online forex services too; you just have to visit their site and sign in to internet banking. It is convenient in comparison to the offline mode but usually, this service is available only in the working hours. So, for a user who is a working professional, it might be difficult to manage currency exchange in this way.
2. Online through foreign exchange providers
Some websites provide you with the service of currency exchange through mail delivery or store pick-ups. They offer good exchange rates and also sometimes waive the shipping fees when order is of large amount. One gets a convenient option of exchanging currency by sitting at home or office as it is available 24X7, unlike the above option.
Why buy foreign currency online?
As mentioned above, you can find a lot of modes to get foreign currency exchange services, but it is imperative to choose the best so that you don’t get trapped in any fraudulent services.
Buying foreign currency online is the best option one can have as it provides transparency in the fee structure and margin, which helps the users in comparing the rates.
Even if you are stuck at your foreign destination due to some issues or work, you get a choice to exchange your currency just by sitting in your hotel room. There will be no stress of finding an exchange counter or any overseas bank that has a partnership with your financial institution.
Where can you buy foreign currency online?
Legit Global Docs is a platform where you can buy real & fake legit documents online & also foreign currency at an affordable rate.
You get the opportunity to get all the currency exchanges under one roof without getting up from your place. And the best part is you get the door-step delivery.
No more need to visit any store or bank!
We offer an exchange for different currencies including:
- USD- US DOLLARS
- GBP-BRITISH POUND
- AUD-AUSTRALIAN DOLLARS
- CHF-FRANCE DOLLARS
- CAD-CANADIAN DOLLARS
You can check the price list here.
The best market rates, high professionalism, and hassle-free experience of foreign exchange can only be accomplished with Legit Global Docs. We assure you that our large area of functional network and amicable support cannot be found anywhere else.
Airport and transportation hubs are the places where people rush to exchange their currencies in the last-minute hustle. The ones who forget to exchange foreign currencies prior to their trip are left with no other option than these places. But if you are wise enough to plan your trip then you should never be dependent on such places. They misuse the users’ condition as they know users will not be having any other alternative and tack on additional fees and commission charges.
Similarly, hotels and tourist recreational centers also charge a lot of add-on fees. Also, an airport kiosk may seem a convenient choice too but is not, until or unless it’s an emergency and it’s the last option.
What to do with the leftover currency?
- You can exchange it by going back to your local bank, post office, credit union, and foreign exchange counters.
Tip: They don’t accept coins so try to spend them first.
- If you are a regular traveller of that place or frequently visit for work, then you can keep it for your next trip.
You can also sell it to your friend who is going to the same destination.
You should be well aware of the FOREX ground rules and if your destination has some rules & regulations related to the exchange of foreign currency. Some countries accept US dollars and prefer tourists to pay in dollars too even if they have a different local currency.
Buying foreign currency online is not that a big deal; just be well aware of the conversion rates to avoid getting ripped off and use trustable sites.