When changing money you should avoid doing so at the airport or at your hotel, these tend to offer worse exchange rates than if changing elsewhere. It's usually cheapest and safest to change money at a bank.
Don't change money on the black market, it's first of all illegal as well as it makes you very vulnerable to fraudsters.
It's always cheaper to use debit (cash) card rather than credit card, when withdrawing cash from ATM machines. Because withdrawing cash on your credit card is a borrowing which you must pay interest on. Withdrawing cash from your debit card is taking out your own money and therefore no interests are charged.
There can be fee involved withdrawing cash whether you use debit or credit card. Money saving travel tips recommends always checking the price structure prior to travelling. You might want to get a card that does not charge you any fees for withdrawing cash, especially if you travel frequently.
Use a bank based ATM machine rather than cash machine in any other location, e.g. in a shopping mall or petrol station. Because if the ATM machine happens to "eat" your card for some reason, you will have much more difficulties sorting it out if you haven't used a bank based machine.
You pay a fee every time you buy or sell foreign currency so if you don't spend all your foreign currency it might be best to keep it until next time you travel... unless it's lot of money or you know for sure that you will not be travelling again for a while. However, some foreign exchange companies do offer to exchange your leftover foreign money without a fee if you bought the money from them and have the receipt.
The currency rate can genuinely affect how much your total travel cost will be. Currency exchange rates fluctuate on regular basis so it makes good sense to time your visit when your own currency is strong against the local currency... that could save you some serious hard earned cash.
You can find more money saving travel tips at Top Travel Tips.
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