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General

General articles about the foreign exchange markets or our service.

 

Best Multi-Currency Accounts 2019: WorldFirst vs. TransferWise vs. OFX

We compare the features, exchange rates and security of the three best multi-currency accounts available today — the WorldFirst World Account, the TransferWise Borderless Account and the OFX Global Currency Account.

Last update: 12 Jun, 2019

What is a Closed Currency?

A closed currency is a one that is not available for purchase in countries other than its country of origin. We take a look at what that means for a traveller visiting a country with a closed currency.

Last update: 2 May, 2019

The US Dollar Currency

What do US dollar banknotes look like? Currently printed denominations are $1, $2, $5, $10, $20, $50, and $100. The following table shows the current design of the notes both front and reverse.   US dollar banknotes – front and reverse design (source Wikipedia) The currency is nicknamed the “green-back” as as you can see […]

Last update: 13 Aug, 2019

What is the International Mid-Market Rate?

The mid-market rate is considered the fairest exchange rate available.

Last update: 23 Jul, 2018

Foreign Currency Accounts – Pros and Cons

In this guide we take a look at Foreign Currency Accounts, both the good and bad aspects and what to watch out for.

Last update: 8 Jun, 2019

Understanding Foreign Transfer Exchange Rates & Fees

There are three cost components to foreign transfers: Exchange Rate Margins Provider Fees Bank Fees Lets go through each of them to see where all your hard earned money is going… Exchange Rate Margins The inter-bank exchange rate is the mid-rate you see on the news each night and is only for reference, these rates […]

Last update: 27 Jun, 2018

Comparing Australian Bank Exchange Rates

We take a look at why not using your bank for foreign exchange is generally a good idea to save money. As an example, we compare the 4 big Aussie banks rates for transfers and travel cash to two popular foreign exchange specialists, OFX for transfers and Travelex for travel money.

Last update: 28 Jan, 2020

Save Money with Regular Overseas payments

Setting up regular international payments is easy and can save you time and money If you have recurring overseas transfers to make, consider automating them to simplifying your personal administration and save time in the process. Whether that be for paying an overseas mortgage, receiving a foreign pension, or paying for overseas tuition fees for […]

Last update: 3 May, 2019

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers and make sending money internationally very expensive: Currency fees Currency conversion rates : Banks charge huge margins for currency conversion to the majority of businesses and individuals. They tend to fix rates once […]

Last update: 11 Feb, 2020

Travel Money – why compare foreign currency exchange rates?

If you’re still using your bank to make money transfers or to buy travel money, chances are you’re paying excessive fees and receiving inferior exchange rates. A little bit of research and comparing travel money exchange rates before you go on holiday, could help you increase how much cash you have available to spend overseas. […]

Last update: 9 Feb, 2020

Foreign Currency & International Fees for Credit Cards

Travelling with Credit Cards can be expensive! Wondering what those extra “Fees” are on your credit card statement for purchases in Foreign currencies? Most banks and financial institutions charge these sneaky fees for transactions in a foreign currency (as much as 3% of the amount), only a few do not charge a fee for this […]

Last update: 26 Jun, 2018

Qantas Frequent Flyer points – How much are they really worth?

When comparing Pre-paid Travel Cards from the airlines to those of other providers and the banks you need to take into account the value of the points that you can earn on your purchases. This is easier said than done, as the value of the points depend on how you use them. For Qantas Frequent […]

Last update: 7 Mar, 2016

How I made my first big currency transfer – without the worries

Good morning, World First client Louise Plant has just bought a property in Spain. She explains why she did it, her plans for the future and how though she was nervous about the process of making a big currency transaction, there was really no need.

Last update: 6 Aug, 2016

Shipping tips for online sellers

Good morning, It goes without saying that Christmas represents a key time for many online businesses, and the shipping of goods is one of the big things that etailers need to get right. Traders can be become suspended because of a poor shipping performance and the pre-Christmas period is one of the most likely times […]

Last update: 20 Feb, 2018

BestExchangeRates on Sky News Money talking travel cards

Money Exchange TV’s Andrew Barnett interviews BER CEO, David Brown, for Sky News Money. David explains how to save money on your travels using a prepaid travel card, and why you should never exchange money at the airport departure gate.

Last update: 26 Jun, 2018

Money Exchange TV explains how to avoid paying higher bank currency transfer fees

Andrew Barnett shares with you a new currency transfer service (and partner of BER), TransferWise that is a global game changer. Visit Transferwise

Last update: 26 Jun, 2018

BestExchangeRates Rate Comparison Disclaimer

* Rate is as per provider’s website or API at the date indicated. * There is a risk that the foreign exchange prices quoted on Best Exchange Rates may be inaccurate, not available to the user, or available but with additional fees and charges. * Some providers change rates during the day and our information […]

Last update: 17 Feb, 2020

When is the Foreign Exchange Market Open around the world?

Forex Market Hours: As one major forex market closes, another one opens. Using the GMT timezone, for instance, forex trading hours move around the world like this: available in New York between 01:00 pm – 10:00 pm GMT; at 10:00 pm GMT Sydney comes online; Tokyo opens at 00:00 am and closes at 9:00 am […]

Last update: 30 Apr, 2018

I am off travelling, should I take credit/debit cards, cash or travellers cheques?

We are often asked that question here at BestExchangeRates! Most people these days go for credit and debit cards over cash or travellers cheques. The cards main advantage is that exchange booths don’t have to be open for you to be able to change money. However there are many credit card fees you need to […]

Last update: 30 Apr, 2018

Terms of Service

1. ACCEPTANCE OF TERMS Thank you for using BestExchangeRates’s services (collectively called BestExchangeRates.com). BestExchangeRates provides its service to you subject to the following Terms of Service (“TOS”), which may be updated by us from time to time without notice to you. You can review the most current version of the TOS at any time at […]

Last update: 26 Nov, 2018

thank you for your wonderful website

I would like to thank you very much for your wonderful website. I travel overseas regularly and I find it very unfair the exchange rates that are offered. They vary so much and it is almost impossible to get an accurate answer. After working overseas for 3 months I come home with my earning in […]

Last update: 20 May, 2019

Suggestions/Bug?

Found a bug or got a suggestion? Then leave it below as a comment and we’ll get onto it!

Last update: 26 Nov, 2018

Why is it that when I go to a foreign currency exchange rate counter I never get the rate that I see on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency. […]

Last update: 30 Apr, 2018

Why do FX rates change?

Foreign exchange rates are constantly changing. Indeed the FX markets are active 24 hours a day 5 days a week. There are even some middle eastern countries that continue to trade FX on the weekends.

Last update: 30 Apr, 2018

What are the forex market hours?

The Forex market is open 24 hours a day across 4 major timezones: New York opens at 8:00 am to 5:00 pm EST (EDT) Tokyo opens at 7:00 pm to 4:00 am EST (EDT) Sydney opens at 5:00 pm to 2:00 am EST (EDT) London opens at 3:00 am to 12:00 noon EST (EDT) More […]

Last update: 30 Apr, 2018

Privacy Policy

At bestexchangerates.com (BER), the privacy of our visitors is of extreme importance to us. This privacy policy document outlines the types of personal information is received and collected by BER and how it is used. Your Choices If you are in the European Union, you may have the legal right to erasure of your personal […]

Last update: 26 Nov, 2018

Exchange Rates Today!

Well we are seeing more and more interest in what our site has to offer. There is now a large group of loyal followers that are getting access to the Best Exchange Rates today. Here is some of the great feedback that we have receieved from the users of the site Hi, I have taken […]

Last update: 20 May, 2019

Welcome to the Best Exchange Rates blog!

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Posted: 10 Aug, 2009

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