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Here's Why You Should Always Check The Exchange Rate Before Converting Money Abroad

OCTOBER 3, 2016  —  By Matthew Derrick  
Matthew Derrick

Matthew Derrick

Writer and sassy ginger currently residing in central Pennsylvania. Matt spends most of his free time online shopping for clothing that he doesn't need, perfecting the art of eye-rolling, and indulging in all forms of pop culture.

The summer before my senior year of college, I headed off to Prague for three weeks.

While I took in the many sights (and craft beers), I swiped my debit card without giving it a second thought. But as my travel agent mother warned me more than once, it's best to check the exchange rate before spending or withdrawing money to ensure that you're getting the most bang for your buck.

As one honest tour guide points out in the video below, exchange stations often do their best to rob unwitting travelers blind. Watch what happens when he steps inside.

While I must have walked past this particular exchange station in Old Town Square at least a dozen times, I'm glad I never felt the need to go in.


Pro tip: Exchange as much of your money as you can before you leave to get the most updated rates. Try doing it at your local travel agency or even at the airport.

You can also look into opening accounts that reimburse or cut exchange and conversion fees! Click here to get started.

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