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BestExchangeRates in the Press


June 2-3, 2012 by John Collett

TRAVELLERS always need to have some foreign cash on them as a back-up just in case they are unable to use their credit card or withdraw cash from an ATM.

A check with the foreign-exchange comparison website bestexchangerates.com shows a big variation in the exchange rates available when buying cash. The website calculates what it calls the “international mid rate”.

It shows the rates on offer from seven providers, including most of the big banks, and how much in percentage terms the buyer of the foreign currency would receive below the mid rate.

For example, early this week, the best rate for US Dollars was about 3 per cent below the mid rate and the worst rate about 5 per cent below the mid rate.

While there will be fees when buying travel money, it is also important to check the actual exchange rates being quoted.

smh.com.au


Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.
 

11 Reviews for “BestExchangeRates in the Press”

  1. Avatar johanna dunning says:

    I want to transfer euros from my european account into an u.s. account. when is the best exchange rate

  2. Avatar Val says:

    When & where is the best time to exchange Canadian check to American bank account?

  3. Avatar Alice says:

    What is the most financially conducive way to exchange money? Banks, Currency Exchange located in malls or at the Border?

  4. Avatar Angel Sotomayor says:

    Hi! I am travellnig to England on august 18 2014, from Miami, can you tell me the best place and time to buy British Pounds ?

  5. Avatar wendy says:

    hello, there can you tell me what is the best time to buy sterling pounds or eurs because I have trip on coming september

  6. Avatar Emilia says:

    I would like to know the best time to exchange canadian dollar to us

  7. Avatar Mark says:

    Question ? I am American and I want to try and make money from trading currency’s and I am married to my wife Sofia and she is from the Philippines , so how do we get more for our money that I send from the united states? I was thinking of exchanging currency’s to make more when deposited in the Philippines ? a

    Any advice ?

    1. Avatar admin says:

      Hi Mark, thanks for your question. When sending money from the US to the Philippines you should check our USD/PHP transfer calculator to see which provider is offering the best USDPHP rates this will save you money.

      Here is the link
      http://bestexchangerates.net/USD/PHP/transfer_money

      thx
      the BER team.

  8. Avatar bill wooding says:

    do you have
    a link for intervidual currency prices
    I thank you Bill

    1. Avatar admin says:

      Hi Bill thx for your question, the links for individual currency pairs are as follows:

      http://bestexchangerates.net/AUD/USD
      http://bestexchangerates.net/AUD/GBP

      etc!

  9. Avatar janep says:

    Hi I see you’ve added a prepaid travel cards to your rate calculator for Australia do you plan on doing same for the UK as I’ve heard these are a better option than buying foreign cash. Thx Jane

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