Beirut Travel

After the stresses the rest of the year round or for business you need to make sure when you leave the country you have the correct currency to purchase the things you want and need. Knowing the best place for buying travel money is imperative for efficiency speed and money saving.

- Where to get your foreign currency from -

There are many places that you can get the currency you need and the prices you will pay will depend on the exchange rate at the time. The local post office will be able to help you and this at one point along with your bank was the only places that you would be able to get it from.

Nowadays people tend to use the internet because it is one of the cheapest ways to purchase what you need with currency being no exception to the rule. This is because they do not have the overheads that others do as much of the work is automated.

- Why choose online currency exchanging? -

Why go out when you don’t have to? You can request the money at any time whether it is the usual office hours or 3 in the morning so you don’t need to set aside time off work or from your day to day duties to make sure you have all you need. This is one less thing to worry about. It is also safer as when shopping locally there could be people who will overhear you are going away for a while which could leave you open to a break in.

Imagine what you would usually have to spend and the hassle of parking when you have to go into a store on the high street or similar. It gives you more time to do the things that you enjoy and one thing off your vacation list.

- Is this the most accurate and up to date method? -

You don’t have to worry about having the most up to date exchange rates because more so that brick and mortar stores the prices will change accordingly each day so you will not miss out when the prices drop. In addition you also have other services.

If you have a while before you need the money then give your details to the sites that will be able to contact you when the prices drop to their lowest. Others will allow you to benefit from a guarantee of refunding the difference should you be offered like for like service anywhere else that is online.

You can see now why so many people choose this convenient way to shop, save money and avoid all the hassle and possible dangers of carrying money around with them. This is the preferred method for many people now and is one of many new innovations that the internet has provided us with.

By: Tom Fisher

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When you go on a foreign holiday it is important to make sure that you have enough money of the local currency to take with you.

However as there are many different types of foreign currency available it can be difficult to know exactly what, and how much, of each type to carry.

Many travel experts advise you to take a variety of different forms of currency with you, or a ‘mixed wallet’ as they sometimes call it. This is good advice but it doesn’t give you any specific details.

So let’s start by looking at the different types of foreign currency that you can take and the benefits and disadvantages of each.

Usually the first option is cash, whether it’s Euros, Dollars or Pounds, cash is a simple and effective means of purchasing things when abroad. However carrying large amounts of cash is not very safe or secure, you could be robbed or lose your wallet, meaning that most if not all of your holiday money is gone. Also the exchange rates when you buy foreign currency are not the best and do not offer you very good value for money. For these reasons cash should only account for about 10-15% of your overall holiday funds. That way you can use the cash for small purchases and not be worried about carrying large quantities of cash around.

Perhaps the next option for travel money is a credit card. Credit cards are useful in that you can use them in most places and you don’t need to have the money in your bank beforehand. However, credit cards usually charge a high fee for transactions in a foreign currency, normally around 2.75%. Also you will be charged a cash withdrawal fee and possibly high interest rates. Therefore it is advisable to just take one credit card with you and only use it when absolutely necessary. A good use of your credit card would be for returnable deposits on accommodation and hire equipment or to purchase an expensive product that you want protection against in case of damage or faults.

Another common choice of holiday money is a debit card. Debit cards are useful as they are familiar, easy to use and can provide instant cash from an ATM. Unlike with a credit card, debit cards only allow you to spend what you have in your bank account so there is no danger of you overspending or having to pay high interest rates. Unfortunately they are like credit cards with regards to charging high fees for transactions in a foreign currency and for cash withdrawals. My recommendation for debit cards is that you only take one with you and that you are careful about how often you use it.

A less popular choice these days is Travellers Cheques. Travellers cheques are used as an alternative to cash but are more secure as they have your name printed on them and can often only be used when accompanied by a form of ID. However when you use Travellers Cheques you will still have to pay some fees, such as commission fees and handling charges. Also Travellers Cheques are usually purchased at one of the lowest exchange rates, making them poor value for money. As there are better travel money options around these days Travellers Cheques probably are not worth taking at all.

The final and newest option for taking money abroad is a currency card. This is a pre-paid card that is loaded with foreign currency from your bank account and then can be used much like a debit card abroad. The benefits of a currency card are that unlike credit or debit cards there are normally no foreign exchange fees, no transaction fees and only minimal cash withdrawal charges. Also currency cards offer the highest exchange rates, they can be topped-up at any time and they contain no personal information, making them fraud proof. These cards are perhaps the best option of travel money today and it is definitely worth taking one on your holiday and indeed using it as your main form of currency. There are now a number of providers of these currency cards and their fees and charges can differ greatly so you should make sure that you do some research and choose the best one for you.

By having a selection of different types of foreign currency you can be sure that you will have enough travel money to last you throughout your holiday.

By: P S Smith

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