How to Get the Best Exchange Rate When Traveling in Africa

Traveling to Africa can be an exciting and rewarding experience, but it can also be expensive if you don't know how to get the best exchange rate. The best option to exchange currencies and save fees is to use a foreign ATM or the ATMs of your own bank abroad, if possible, exchange currencies from home. Banks and credit unions often offer some of the best exchange rates, and most banks will give you the option of picking up your cash at a local branch or having it sent to your home. If you're worried about foreign currency, know that there's nothing to fear.

You can prepare for your trip abroad and learn the best ways to exchange currencies before you leave. With a little preparation and planning, you'll feel in charge of your money and know what mistakes to avoid. If you're planning to exchange currencies, the exchange rate is inevitable. However, you can keep fees to a minimum and avoid overrated currency exchange services.

Here are the best ways to exchange currencies to get the most savings. Your bank may not charge customers fees for exchanging currencies, and they are likely to offer a better exchange rate than an independent foreign exchange business or a foreign exchange service at an airport. Before you leave, call your credit card company and ask if they charge you a foreign transaction fee. If so, consider requesting a free card before your trip if you have time.

The average fee per foreign transaction for a credit card is 1.60 percent, but it can be as high as three percent.

The Best Ways to Exchange Currencies

The above methods are the best ways to exchange currencies, but they're not the only options. Here are some other methods to consider that may be better suited to your circumstances. Exchanging cash before traveling can be a minefield, with low and high rates as usual. The ideal is to use a card with no foreign transaction fees to pay for purchases abroad as much as possible, so that you don't have to change the cash in the first place or use a foreign currency during the trip.

Tips for Exchanging Currencies

One thing you should do before traveling abroad is to inform your bank and credit card companies of your travel plans, although some banks are no longer encouraging this practice.

Conclusion

Exchanging currencies when traveling in Africa doesn't have to be difficult or expensive.

With some research and preparation, you can find the best ways to exchange currencies, save money on fees, and get the most out of your trip.