5 money saving tips for exchanging currency

money exchange

Vacations can be expensive and the last thing you want to do is spend too much on currency exchange.

In fact, it is ideal to pay as little as possible when it comes to changing your AUD to INR or any other currency. Save that money for while you are away! Here are a few money saving tips for exchanging currency.

Online Currency Exchange

Did you know that you can find a company to exchange your money online? That means you do not even have to leave your house to get the cash you need for your trip! These websites will take your money order and mail it right to your doorstep. In addition, online currency exchange is quite competitive so you are likely to find some of the best rates and lowest fees online. Order that cash you need before your trip and benefit from your planning by getting a great AUD to INR rate with little hassle.

Use The ATM

If you are already abroad and find yourself needing some of the local currency, you can easily convert your AUD to INR from an ATM machine. Look for an ATM owned and operated by a bank as you will get the same, low rates at the ATM as the bank can offer. In addition, an ATM will only charge you a flat rate service fee rather than an adjustable fee that goes up the more money you convert. ATM’s will save you time and money while on your trip!

Convert Once

If you find a currency exchange center that only charges a onetime fee to convert your AUD to INR, consider getting a larger amount of money, enough for your entire trip. This way, you avoid paying service fees or exchange fees more than once, therefore saving you money! Make a budget to help determine how much cash you will need and then exchange your money all in one shot.

Avoid Double Conversion

Making a budget for your trip and figuring out exactly how much money you need will also prevent you from having too much foreign currency at the end of your trip. If you are left with an excess of cash at the end of your vacation, you will have to convert the money back into your local currency. This will make you pay conversion fees once again, costing you even more! When exchanging money, you don’t want to take out too little or too much so budget your trip and get exactly what you need!

Don’t Pay For Convenience

Yes, that airport terminal currency exchange counter is very convenient. So is the hotel concierge who will convert your money for you. The exchange kiosk near that historical monument is convenient as well. However, all of these well-situated currency exchange establishments will charge you a fortune to convert your AUD to INR. You will get a lot less cash in the conversion due to high rates and steep fees. Skip these touristy exchange centers and look for a local bank or ATM instead- you will save money for sure!