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Buy your currency before you leave!

3/28/2011

With a few exceptions, if you have Swedish Crowns, it’s best to purchase your foreign currency before you leave for your trip. The bureaux de change in the busy tourist districts of London, Copenhagen, Paris or any other city, will seldom offer a good rate for SEK – or any other currency for that matter. There are often fees that don’t become apparent until after having exchanged, which can mean a loss of up to 10% of the exchanged amount.

A typical example: The Flash editor tested exchanging, a while back, at an office on Champs-Élysées in Paris and got a rate that was SEK 1.53 worse per Euro than the rate FOREX offered at exactly the same time!

FOREX Bank recommends that you buy some or all of your spending money before you leave, and have you cards ready for ATM withdrawals and payments where cards are absolutely necessary. The latter applies often to car hire and hotel reservations. A good rule of thumb is to always travel with a card in reserve – even if it’s rare, ATMs sometimes swallow cards!


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