Saving for your vacation

Posted: August 17th, 2013 | Author: | Money

Foreign trips are not the cheapest. It very often happens that we are looking for savings in many places, sometimes not those that actually bring us a favor. For convenience savings are not always the best idea. In turn, we can save quite a bit of money before you leave a foreign currency account, provided of course that is available in the currency of the country which we choose.

hey mr glen / photo on flickr

hey mr glen / photo on flickr

The money in that account are held in a foreign currency, and if for example we’re going to Spain, we will be paid in euros and collect euros from ATMs. The problem is that if we do it with an account in U.S. dollars, the bank value us money based on their rates, which are unlikely to be beneficial, and certainly not like, for example, online currency.

Sometimes the conversion fee is added additionally charged by your credit card, and sometimes several times a currency is converted to the euro such as first and only then to the other, less popular currency. In turn, if the euro currency account at an ATM we want to pay 100 euros, it will leave us with an account and just enough penny more. How to feed the foreign currency account? You can deposit money at a bank, but also make a transfer or shop online at one of the money exchange points. It is worth to know how will our bank charge us while shopping in another currency. Especially in the case of receiving money on the account, because such charges unfortunately sometimes happen.

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