5 Simple Rules to Exchange Your Currency in Faridabad

Currency exchange within our own country premises isn’t a difficult job with number of money changers available in-house. With Delhi and the nearby regions being known as the central capital of the country, currency exchange tends to remain the biggest day to day activity. One can easily find a number of units for money exchange in Faridabad to exchange their money at the best rates. Apart from this, there is also a list of agencies offering reliable currency exchange in Faridabad.

Many a times we need an appropriate currency exchange while we are aboard or even when the emergency situation comes up.

Mentioned below are 5 simple rules to follow while exchanging money aboard even in emergency situation to avoid unnecessary losses-

1.      ATMs are still the best choice

 

Even though, few banks levy high fees over using foreign ATMs, but, still there are a few banks that still makes it the best and almost the cheapest option for changing your money. There are banks that charge just 1% at the member banks and no other fees.

2.     No-fee” bureau de change labelled units are usually the most expensive places to change your money

Whenever you see a sign mentioning “no-fee” currency exchange, make sure to check the exchange rates. Most of these agencies almost always offer a significantly worse rate as compared to withdrawing your money simply out of the ATM. So, it’s always a good idea to keep up to date on the latest Interbank exchange rates.

3.     Never take a cash advance on your credit card except in a real dire emergency

In case, you take your cash from a foreign ATM using your credit card, you will have to pay a fee. Further, you’ll be charged with a percentage rate which is on the top of your withdrawal list and remains marked as a foreign-transaction charge. From this; you will have to start paying at a very high interest. So, it’s always advisable to avoid taking cash advance on your credit card. 

4.     In case you need a lot of cash, ask your bank to raise your daily withdrawal limit

In case, you are renting an apartment for a week in any of the foreign countries, you will need a lot of dollars or Euros at once to pay to the landlord. For all such situations, you can request your bank to raise the permit for raising your daily withdrawal limit temporarily so that you are allowed to withdraw extra money than normal.

5.     Avoid dynamic currency conversion

If you are ever offered an opportunity to charge your purchase abroad in U.S. dollars, always decline. Make sure you insist on being charged in the local currency. This sort of dynamic currency conversion will lead you into lousy exchange rates, hidden fees, making your own credit card charge you its own foreign-transaction fee amount over the cost of the purchase.

 

Keeping these simple rules in mind you may definitely go for a valid money exchange in Faridabad.