Where to find the best exchange rate
How to Get the Best Exchange Rate
have you ever got exchanged money and
received less than you thought you Italy
would yep
enjoying the club I went to Dubrovnik
recently and I realized I lost out of a
lot of money and this was due to some
rookie mistakes this video is all about
my tips to get you the best exchange
rate and to save you money let's start
off with tip number one and that's to
research you need to make sure that you
get the best exchange rate from whoever
you exchanging from so that could be a
bank or a supermarket so I know that
Evan Evan s confront came quite good
Barclays or whatever your bank is and
also the post office however I am making
this video in 2015 so who knows who's
going to offer the best rate in 2016 and
2017 and in the future so just do your
research go online it's really easy
these days just take about 5-10 minutes
just to see what the best exchange rate
is and that leads up to my second point
which is know your key terms because
when you're researching you might come
across a few key terms which might throw
you off a little bit but don't worry I'm
here to go through them with you today
okay so the main one that you probably
going to come across is obviously
exchange rate and what that means is how
much one currency is worth compared to
another and so the two terms that branch
off that is the selling rape and the
buying rate and the setting right is how
much you will get when you exchange your
money for a foreign currency and the
buying rate is how much you get when you
return from your holiday and you want to
exchange the foreign currency into your
own currency so say for example I'll go
off two fronts that I want to change my
pound
two euros I would look at the selling
rate and then when I come back from
France and I want to change my gyros
into pounds and I would look at the
buying rate so for example at this time
I've just gone to Google and checked now
today's date is the 22nd of December
2015
100 pounds will get you 135 euros once I
return from France
if say for example I have 50 euros left
if I exchange that back into UK money
a pound that would give me you what
37,000 five pills just be aware that the
exchange rate changes from day to day
when you are exchanging money make sure
that you are planning in advance for it
what I mean by that is some stores offer
a better exchange rate if you order the
money online so I know for a fact that
the post office offer a better exchange
rate if you order the money was
enlightened with it and you know how I
said that I lost the money when I went
to Dubrovnik right so I went to the post
office the day before my flight and I
walked in and I think the exchange rate
was about 10 points something the
official exchange rate that is and I
went to the counter and the guy gave me
a change rate of 9.1 not 10.1 hours I
caught up on your website it says nine
point six and he said that that was the
internet rate and if I had ordered the
money a week in advance so yeah that
that was a lesson that I learned then so
don't make the same mistake of leaving
your exchanging of money to the last
minute also I made another mistake on
top of that which was a I I exchanged my
money in the UK so I shouldn't have
exchanged my money in Croatia so this
was a little bit of reset which I should
have done as well so basically I wanted
4000 Kuna for my trip and Kuna is the
current currency
actually I think it's going to change to
the euros ooh that's another story
so I wanted 4000 Kuna for my trip and I
exchanged it at an exchange rate of 9.1
so this costed me 440 pounds and what I
realized was that if I had exchanged my
money in Croatia I would have only had
to pay 400 pounds and because it was the
exchange rate was 10 and that's what
they were offering so if I have my
research beforehand and I wouldn't have
just lost out on 40 pounds 40 pounds
down the drain
I mean exchange rate they offered was 10
and I mean I learned my lesson
the next topic foot discussion is like
pre top-up cards debit cards credit
cards but the things that I would want
you to watch out for is number one make
sure you do tell your bank that you're
going to be traveling abroad because the
last thing you want to do is in a
foreign country your bank card being
stopped / so that's something to look
out for number two if you do have an
American Express card just be aware that
something like they're less widely
accepted and number three just make sure
you do know what fees are involved and
the last thing with like pre top-up
cards is that make sure you do take some
cash with you as well just because you
never know what emergencies could arise
it is better to have like a little bit
of cash stored away for those situations
my last point for today is track your
currency so what I mean by that is the
currency always fluctuates so perhaps
one country's currency is going to be
worth more in the future or worth less
in the future so it's good to keep an
eye out for these things to see whether
you should exchange your money back into
your own currency or if you know that
you're going to be travelling to that
country again soon perhaps it's worth to
just keep hold of that money that's what
I've done with my euros and the UK is
very close to Europe and I know that
I'll probably be heading to Europe
sometime soon so I've just kind of kept
hold of that money at the euros for the
future hope you found that video useful
I just stopped you making the mistakes
that I made and to hopefully save you a
little bit of money and to give you that
extra little bit of spending money for
your travels so enjoy enjoy your travels
and I'll see you next time see you later
hope to see you next time for some more
travel tips at bamboo travels
