Travel abroad: the interest of changing currency before leaving

Are you planning to travel outside the territory of the European Union soon? Do you know that, whatever the destination, converting your money is often useful? Find in this article the interest of changing currency before your departure. You will also discover some solutions to perform this operation without risk.

Why convert your currencies into local currency before travelling?

Is changing my money before a trip really necessary? Many people who are preparing to go abroad ask themselves this question. So for the answer, it must be said that converting your money into local currency is a practical matter.

Indeed, you will always need money as soon as you set foot in a foreign country. You will therefore need to have a reasonable sum of money on you to pay for travel and accommodation. Tourists are also required to make purchases on site with the country's currency. It is for these reasons that currency should be changed before departure. Plus, you don't have to carry a large amount of cash with you. It is advisable to remain reasonable and therefore, to convert only the amount you will need.

Changing currencies: the different solutions

Different options are available to you to convert the Euro into the money of the country you are going to visit. Here are a few :

Buy currencies online

This practice consists of placing your order on a site specializing in the purchase of currency on the Internet. In addition, the deposit in the exchange offices of some of these organizations present on the web remains free. For delivery, the establishment guarantees secure delivery of the order. The money will be delivered to you personally by an approved delivery person and upon presentation of an identity document. Another advantage of this option is that you can return the excess money when you return. At this time, the exchange rate applied remains the same as that at the time of purchase.

Withdraw your money using the credit card

This is to use the credit card to change your money during the trip. This solution therefore involves finding an ATM once you have arrived at your destination. It shouldn't be a problem for you if you're staying in the big cities. On the other hand, the exchange remains subject to some costs, in particular those of the distributor. In some foreign countries, local banks apply a commission for withdrawing money from ATMs.

Exchange offices

This type of organization offers currency transactions which, for the most part, are without intermediary. And unlike banks, it does not work with suppliers for the supply of foreign currencies. This then allows the exchange office to offer a more attractive rate to its customers. Note also that the European Central Bank currently remains the reference in the indication of exchange rates. It is the interest to compare the offers in order to find an office offering an advantageous rate.

The exchange of currencies between individuals

This option is interesting to reduce the costs for the exchange of currencies. There are even today applications that facilitate this operation. Using these tools is quite simple. All you have to do is create a profile on a dedicated platform to be able to offer your offer. Before leaving, you can therefore try this solution to easily obtain cash for the trip. All you have to do in this case is register on the site of your choice. Afterwards, you have to make an appointment for a personal delivery of the money if you are interested in a user's offer.

Financial institutions

Ordering convertible currencies like the dollar from a bank can be reassuring. This allows you to have available and at the right time the necessary amount for your expenses during the trip. The exchange rate applied may nevertheless put off some people for this practice. This is why converting currencies at a bank is not the best solution if you want to save some money.

Good to know before going on a trip abroad

As you can see, there are many solutions to convert your currencies before leaving on a trip. However, this operation is far from trivial. It is better to do it when the time is right. This signifies the importance of keeping an eye on changes in the exchange rate.

You can also avoid the extra fees associated with the exchange by withdrawing money via an ATM which does not apply fees.