travelling-blogger

 KEEP AN EYE ON EXCHANGE RATES

Make a habit of having a look at the rates on your chosen currency each day, even multiple times a day, to get an idea of what is good value or a rip-off. Xe.com is simple and easy to use. http://ift.tt/1vTPWXR

DON'T TAKE THE EASY OPTION

It's so easy to just go to the window that says currency exchange and ask for some euros, but you could be doing yourself out of money. Just as rates fluctuate, so do the providers. The best bet is to call around or use a comparison website such as Travel Money Max. Most providers offer better deals online. Or ICE offers a text-back quote so you can arrange pick-up from your nearest provider.

HAGGLING STARTS HERE

Bargaining isn't just for the souks, exchange rates can be negotiated too. Did you see a better rate at another supplier? The one right in front of you might match it. Or if you have a large sum of money to change for a big trip you could get a slightly better rate. It never hurts to ask.

BEWARE FEES OR 'GREAT' DEALS

Using your card (credit, debit, visa etc) to get foreign currency is oh-so convenient, but could cost you the price of a drink at your destination. So ask if there are any fees that will be added. If a provider is spruiking the best deals or 0 per cent commission, it's likely too good to be true as they'll be making up for it some other way.

CASH IS KING

All banks are a bit different, so it's worth checking fees. But to be safe, withdraw pounds from your bank's ATM and get cash converted.

Watch currency rates trends before your trip

ALTERNATIVE FORMS OF MONEY

Travellers' cheques are a handy alternative to carrying stacks of cash. They can be replaced if lost or stolen, which is handy. The catch is that you can only change them to six currencies. American Express is the most widely accepted. Pre-paid cards can be helpful too, so you can put money you'll need on it before you go and use instead of the card with your life savings attached. But again, beware fees.

KNOW WHAT MONEY YOU NEED

Currencies such as the Euros or US, Australian and Canadian dollars are straightforward, but the way some countries use money differs. Some may take local currency but prefer US dollars. Cuba has different money for locals and tourists. Morocco's Dirham can't be exchanged outside the country. Some research could really pay off.