As they say, money, money, money. This is the main excuse for the way that I hear around me and often the most valuable, although I basically it is possible to travel with any budget think!
I was recently asked how I was doing to reduce my bank fees abroad, so I prepared a little collage of my various tips. I invite you to tell me also your best plans and your little ECONOS tips to avoid drowning in the costs of our charming banks!
Reduce the number of transactions
Whatever the amount of your withdrawal abroad, remember that the cost will be the same. Limit the number of transactions is the best way to save money while traveling.
When I travel with my boyfriend or friends, we all withdraw our round the maximum amount we permit our withdrawal limit and divide it equally. And we maximize the amount that can be removed, do not have too much money and we are alternating the payment of costs.
When traveling alone, it is also preferable to maximize the amount to withdraw, but to divide the money not to have everything stored in one place in case something happens. The ceiling is adjustable according to the terms of your financial institution.
Withdraw money or exchange currencies on the spot?
From experience, I have come to take a minimal amount of money with me to help me in case of problems. I never buy foreign currency in Montreal or at the airport. The exchange rate is generally low and the costs staggering.
I withdraw money from an ATM on site (usually at the airport, as banks often have better exchange rates despite the withdrawal fee). Exchange offices are often closed when I arrive on a flight very early or very late.
I always ask people around me if they have small change in the local currency of my destination. So I have money to buy a pack of gum, coffee or pay for the bus or subway. Some counters provide only large bills, then it can be difficult to find a kiosk who is willing to change for you smaller.
If you have money to change in exchange offices, avoid high tourist areas, they tend to overcharge because they know that you do not have a choice (airports, stations, etc.).
In 99% of cases, exchange offices offer better conversion rates in their own currency. So, change your money before returning home. It's also a great way to get rid of the currency Montreal institutions are unlikely to accept!
Choosing the right institution to withdraw money
Increasingly international or virtual banks emerge (ING, HSBC, etc.) or change their offers to woo refractory to bank charges. Rate out their packages and international areas where they allow free withdrawals or inexpensively.
Find out too about banks 'sisters' of your current institution as some foreign banks offer reduced fees for some Canadian customers members of their partner institutions.
Avoid private ATMs that charge additional amounts. These are common and always seem to appear first when you want to withdraw money, but often taking a few steps further, you will quickly find an ATM free of charge. The more you are the center of a tourist area, the greater the odds of finding it!
source: www.moimessouliers.org
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