Whenever you want to buy Euro or any other currency, there are many things to check. Is it better to buy before your trip or later? How to find the best rates? Should you carry cash with you or go digital (using a card instead)? Is there a preferred way of doing things to save time and money? Probably one or more of these questions have already crossed your mind, not only once but anytime you need to worry about currency exchange.
In this article, let’s discuss some ways to buy Euro and get the most while making currency exchange. Want to learn more for better decisions? So keep on reading!
What is the best way to buy Euro before your trip?
Usually, when we think about buying Euro or any other currency, we already have a trip in mind. So let’s start showing the best way of doing it before taking your plane to explore the world. There is no need to say that getting cash (paper money) isn’t the cheapest way to prepare. Fees may apply whether you go to a bank or a currency exchange house. It can make you lose money in the process.
Among the pros of handling cash in your pocket, you have control of how much you have to spend, and you get a fixed exchange rate ahead of your trip. It can be appealing or cost more upfront. While looking at the cons, money in your hands is easier to lose or get stolen, not to mention you can get stuck with euros after your trip.
Credit and debit cards
Once and again, credit and debit cards offer a better exchange rate and sometimes, no foreign transaction fees are charged. When it happens, the amount is small compared to the mid-market exchange rate. Besides, your pockets will be lighter and safer since you won’t be carrying any cash, no matter where you go.
Another best way to get Euro, Dollar, or any other currency, is when you open a multi-currency account. Let’s take Husky as an example. In a few minutes, travelers can gain access to an account that deals with multiple currencies in a single place. After adding your local currency, the money can be converted for a low fee and will be ready to spend.
What is the best way to buy Euro in the US?
If you are in the United States, there are several options to buy Euro. From money transfers to banks or credit unions, ATMs, and exchange currency houses, it all depends on which one brings more time and money saving for you after all.
Money transfer services are specialized when it comes to currency exchange. It’s not by chance that they became a popular option among travelers. Usually, they offer low fees and speed to send and receive money beyond the convenience of doing everything online. Besides, you can use an ATM to withdraw the money.
On the other side, banks and credit unions might be a little outdated. However, it’s worth checking the fees and the cost-benefit. The same goes for an exchange currency house. Albeit they can be way convenient for last-second exchanges while you are in transit from one airport to another, fees tend to be huge to buy Euro and other currencies.
How to find the best rate to buy Euro?
First, follow the mid-market rates, which can change daily. This way, you will know when fees are high or not for money transfer services, banks, credit unions, or exchange currency houses. Besides the mid-market rates, no matter the option, there are fees. After all, it’s an exchange for the service of converting money. In general, this percentage is applied according to the amount.
Is it better to buy Euro before you leave?
Planning helps you to get the best quotes. Avoiding swapping money at airport kiosks can save you time but usually cost more to your wallet. Travel credit and debit cards, sometimes, skip it but keep an eye on the rates to use them efficiently. Meanwhile, a multi-currency account offers low foreign transaction fees and wide acceptance.
The best way to buy Euro is to find the most suitable option to fit your wallet, along with your needs. Even with high fees and an outdated profile, a bank or a foreign exchange house can bring more convenience. Debit and credit cards are easy to hold if you are looking for a cashless alternative. The same goes for a multi-currency account — everything is in the palm of your hands, no matter where you are or the currency you need to use.
Want to do more with Husky? Open your free account today and enjoy a worry-free way of dealing with multiple currencies in one place.