If you leave your country for another country, you will require their local currency to get around. How and where you exchange your money can make a difference to your wallet. The day to day and place to place variation in the currency exchange rates could pop up the question of whether it is better to Exchange Currency at Departure or Arrival Airport. Read on as we provide answers to your question.
So, which Is Better For Currency Exchange?
If you find yourself in a situation where you don’t have a choice than to exchange currency in an airport, you have two options. Either you exchange at your arrival or departure airport. Each option has its pros and cons.
Exchanging Currency at Departure Airport
• It will make your trip more convenient and save you time because you won’t have to undergo the stress and waste time looking for an exchange shop in the arrival airport
• It will provide you the chance to have some amount in the local currency of the country you are traveling to. With this, you would be able to take taxis or buses to your final destination with ease.
• It will give you a clue on how the real currency been used in the destination country looks like, and this might even reduce the chance of falling victim to scams exchanging real money for duplicate
• You will reduce the chance of getting stranded in the destination country, especially if you are going there for the first time.
• The exchange rates might be bad, especially when you are exchanging a major currency like US dollars for a less popular currency like Nigerian Naira.
• The charges can be killing. Imagine losing seven to fifteen percent of your money to exchange. That is a bad business, isn’t it?
Exchanging Currency at Arrival Airport
• The exchange rate at the arrival airport can be more favorable. For example, if you are exchanging major currencies like Euro and USD against the currency of exotic countries. You will pay low for a higher exchange.
• Even though there would be charges, it might be considerate, minimal and not kill. With this, you would be able to save some extra money.
• It might be a little stressful. Imagine looking for an airport kiosk where you can exchange your money after a long and stressful journey. You might not find it easy and it could even result in a waste of time. When you ought to be at your destination, either hotel or meeting, you would still be looking for where to exchange your currency at the airport.
With the above been said, we want you to note that whether to exchange currency at the arrival or departure airport most time depends on your situation. For example, if you are exchanging a USD against other major currencies like Euro, where you exchange it does not really matter.
If you can avoid exchanging your money at the airport, you should do that. Take a walk away from the airport, look for an official exchange bureau shop and you would get better exchange rates.
Tips for Exchanging Currency at the Airport
1. Ask for rate after commissions. Also, beware of posted exchange rates because the exchange rate you see might not be the actual one.
2. Figure out how much local money you would need to move around. Don’t change too much money because the higher the money, the higher the charges.
3. Shop around to get the best rate. Don’t limit yourself to one shop. There are many exchange kiosks you can approach, and their exchange rate might vary from the other.
4. You can try to do online research to see if there is a reliable airport exchange kiosk in your country of destination. Check for their rates and commissions. Visit our homepage for airports list.
5. Even if you don’t know anything about the exchange rate of the destination country, don’t let the currency exchanger know. He/she might take advantage of your ignorance.
6. Beware of airport kiosk with an outrageous discount on their commission. Generally, exchanging at airports comes with a higher commission. So why would a currency exchanging shop change your money for you at commission with an outrageous discount? Don’t fall victim to scams!
No doubt, we all like to go for the best deal in everything. That is why we can boldly tell you that exchanging currency at arrival airport gives the best deal. If your destination deals with more cash, it is better you arrive at your destination airport before making the exchange.
Finally, many travelers might advise against exchanging currency at airports. But currency exchange stations at airports can come in handy, especially if you have forgotten to exchange your funds and needed some amounts to move around.