Why An RBC Exchange Rate And Where To Exchange Currency
Do various steps to get the best RBC exchange rate while traveling abroad. To know how much the exchange rate is to do research. Verify online and through printed materials about foreign exchange, the local economic conditions, and some travel tips. If that local area is struggling economically, chances are you’ll be getting a better foreign exchange rate. Compare the local currency price for a year to see how dramatically the currency exchange rate differs.
- Use Your Credit Card
The best way to pay for your things when you’re travelling is to use your credit card. So long as the merchant considers MasterCard or VISA, paying with your credit card will be safer and easier than cash. Some may offer to charge you with Canadian dollars, but it’s usually better to pay in the local currency as MasterCard and VISA exchange rates are cheaper. Just ensure that you’re charged with the right currency when using your card.
- Get Foreign Cash Before You Travel
Aside from credit cards, ensure that you have some cash on hand to ensure there is payment in case of emergency. You may think that getting the local currency may just be easy, but in reality, it can be difficult. If you had to exchange currency at the airport, hotels, resorts and cruise ships, the exchange rate can be inflated, and you don’t want to look for places where you can exchange your money without being overcharged. Before you leave for you trip, ensure that you have the required amount needed to spend for your holiday. You may want to know the RBC exchange rate and order online.
- Use Your Debit Card to Get Cash at ATMS
If you need more cash, use your debit card to withdraw at a foreign ATM. While it may seem convenient to use foreign ATMs, it can turn out costly. You’ll be charged $3-$5 per transaction aside from the charges given by the local ATM provider. So, consider your options well when you want to exchange currency to another currency.
These simple tips will allow you to have a great vacation without running out of cash. Know the RBC exchange rate before you head on to your trip.