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Exchanging money at home or at the destiny?

Travel Forums General Talk Exchanging money at home or at the destiny?

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1. Posted by aarantes (Respected Member 165 posts) 9y

Hi, everybody. I'm going to Japan in 2 weeks and I was wondering if it would be better to exchange my money here in Portugal at the bank or in tha airpoirt in Tokyo. Acctually, this doubt goes for every trip. I have changed pounds and swiss francs at the bank before, but I don't know if it was the right choice...

Any ideas?

Aline

2. Posted by NantesFC (Respected Member 531 posts) 9y

Airport exchange rates are ridiculous. Exchange your money at home or you can just put it into a savings account and use an ATM card to withdraw money in Japan or use a check card.

3. Posted by Mancunion (Full Member 128 posts) 9y

Yeah agree with NAntes. Avoid exhanging currency at the airport!! I did it once as I thought the rate was competitive. Little did I know that they were going to charge commission and all sorts on top of it!

So I Would rather exchange at home or in JApan, but away from the main tourist attractions as they give poor exchange rates as I found out once when I Was in Prague.

When I was in Istanbul I exchanged my money there and I actually got a better rate there then I did back home.

If you withdraw from ATM's then they will charge you for each withdrawl, even if it is your own bank you are withdrawing from!!

4. Posted by starlight2 (Full Member 108 posts) 9y

How much do they charge you for each withdrawl? .. A few bucks?

5. Posted by Mel. (Travel Guru 4567 posts) 9y

I am not so sure that airport exchange rates are ridiculous.
I changed money, at Bangkok airport, on my way into Thailand. The exchange rate was very close, to what the official exchange rate for Euros to Bahts is.
Find out, what the official exchange rate is(on the internet), and then if anybody tries to give u much less than this when changing, then only change as much as u need, to get to the next place. Having an emergency stash of cash in the local currency is a good idea, in case u cant get a fair exchange rate someplace.;)

6. Posted by daphnemaia (Full Member 155 posts) 9y

what i always do is to get some currency of the country i am visiting while i'm still in my home country.

once i get there and get settled down, i go to town to search for a money exchanger. there are usually many congregated in the same areas, if u know where to look, and this works out to be cheaper than exchanging at the airport or back home.

u usually get a better rate when u are buying a currency at the country of its origin, rather than selling ur own currency back home.

that said, i don't think it makes much of a difference unless u're exchanging alot of money. i always almost pay for the things i need alot of money for through online booking, using my credit card, for example hotels, air tickets, bus/train tickets (if available) etc, as i'd rather be safe and not lose cash, than lose a few bucks in the credit card exchange rates.

i'm rather muddle-headed and scatter-brained, and tend to lose my wallet often. haha!

7. Posted by aarantes (Respected Member 165 posts) 9y

I was told that other than in the airport is not easy to exchange money in Japan. And also there's the language barrier. I think maybe the difference pays for the worries and loss of time looking for a place to chage money.

Where can I find the official rate? Is xe.com a good place?

Thanks.

Aline

8. Posted by Mel. (Travel Guru 4567 posts) 9y

Hello Aarantes

I forget what the actual web site is.
Google currency conversion. That should bring up a site, where u can just key in Dollars or Euros, and have it convert them to Yen.

Mel

9. Posted by NantesFC (Respected Member 531 posts) 9y

All I can tell you that is if you exchange in US airports you're getting jacked for your money. I had a bad experience coming back from Japan with cash exchange. I've never actually exchanged money at an airport overseas so I don't know whether it'll be better in those cases. Remember, there are more service fees when you exchange in an airport rather than a bank

10. Posted by KoalaGirl (Travel Guru 307 posts) 9y

Quoting daphnemaia

u usually get a better rate when u are buying a currency at the country of its origin, rather than selling ur own currency back home.

I tend to agree - I've always found a better exchange rate once I've arrived at my destination.

Quoting daphnemaia

that said, i don't think it makes much of a difference unless u're exchanging alot of money.

... I have found when you do the sums that there only ever seems to be a small difference - where you get hit is always the extra fees charges and commisions the currency exchange places add on!