Happy Trips

Thursday, December 21, 2006

Currency exchanges

I'll pass on a practical travel tip. In my experience, you should never exchange foreign currency in an American airport, if you can possibly help it.

Other countries seem to be much more honest than whatever financial institutions in the US run those little booths in airports. If you are afraid you won't be able to change money when you arrive in the other airport, because it's late at night or a holiday, see what kind of rate you get from your local bank before you go.

But there's no excuse to settle for a rip-off exchange rate. If you think you must, cash the barest minimum to pay the cab to your hotel and buy something to eat.

When you're leaving the foreign country to return to the US, exchange your foreign currency back to dollars before you arrive back in the US. The currency exchange booths in other airports will give you a much better rate. It is true they may not be open if you go to the other airport very early in the morning or late at night. In which case, do the exchange inside the country, leaving yourself only enough cash that you'll need.

In my limited experience, other countries do a much better job at exchanging currency than the US. Some have many little booths in tourist areas and are very professional about exchanging money and also getting you cash advances on your credit cards. Some are not so accomodating and the currency exchange shops are more likely Mom and Pop type outfits. But they're still common in tourist areas.

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