What is the cheapest way to obtain foreign currency for travel outside the US?
Payments
Asked by Question Bot12/Nov/20121 answer
1 Answer
F
Faisal Khan
Answered 12/Nov/2012
Honestly, if you can 'avoid' buying the currency state-side then do so, because the rate on US soil would always be higher. Your best bet for getting the best rates, would be a commercial money exchange company in the shopping district of the country you want to be visiting.
However, if you must buy, local exchange companies would be your best bet. Don't even think about buying it from your bank or airport, they would always be expensive.
The best possible rate you can ever get from the country origin bank, for example if you have to go to India, ICICI Bank branch in the US would give you the best rate, if you have to go to say Philippines, then try a local branch of a Philippines bank.
For some countries like UAE, it won't matter, the rate is fixed worldwide.
However, if you must buy, local exchange companies would be your best bet. Don't even think about buying it from your bank or airport, they would always be expensive.
The best possible rate you can ever get from the country origin bank, for example if you have to go to India, ICICI Bank branch in the US would give you the best rate, if you have to go to say Philippines, then try a local branch of a Philippines bank.
For some countries like UAE, it won't matter, the rate is fixed worldwide.