I travel out-of-country a coupla' times a year.
One thing I noticed is DO NOT exchange your money at an airport in US, neither coming, nor going. You'll lose 20 to 40%. Horrible.
The airport in foreign country is usually much better. Much! Like as little as 3%. Huge difference.
Of course depends on the country, but never crazy greed like the US.
Banks in US, better but still bad. Calculate the exchange versus what your bank offers - after all fees (out the door price).
If over 10 take a walk. I think 5% is too much.
Also check with your bank about (their) ATM fees in foreign countries. I have one card with maybe 2% and no fixed fee.
My Chase ATM card is about 4% plus $5 fixed per transaction exchange rate (relegated to my backup card).
The foreign bank's ATM will also have a fee, but (usually) nothing like in the US. Experiment and find the best deal.
last thought: Do you really want to carry thousands of Euros, or Rupees ?
I usually carry $500USD and exchange it before leaving the airport (at a real bank in the airport).After that, I use ATMs or even walk-in banks.
If paranoid about airport exchange, just get enough foreign currency before leaving to last a few days.
|