Most people who travel overseas frequently know that currency exchange at the airport is not the ideal option. Until a few years ago, this was the only option to many people but not anymore. And people know that irrespective of the currency they need to exchange, currency exchange at the airport is not the option for them for various reasons especially since now they have so many alternatives available to them.
Here are a few reasons why you too need to find alternatives for currency exchange at the airport:
- One of the main reasons why you need to stop exchanging foreign currency at the airport and find an alternative is because it is expensive. The currency exchanges at the airport whether run by a bank or a private company offer the worst rates for both buying and selling. You can find considerably better rates if you exchange the currency at a bank in your city before leaving for your travel.
- If you check out multiple currency exchange counters of the same bank or company the airport, you will see that there is a slight variation in their charges. The counter that is the closest to the arrival gate has the worst exchange rates. Most banks do this since they know that people who have arrived want to get buy or sell the currency and they are likely to do it at the first counter they see near the arrival hall. If a customer keeps walking and visits a different counter perhaps farther away from the arrival hall and closer to the exit, he will find that the rates at the counter closer to the exit gate are better than the one close to the arrival hall. Bringing the foreign currency or purchasing it at a bank in the city is far more economical since the rates are better.
- A convenient way to buy foreign currency is by visiting a Toronto currency exchange and scheduling a pickup. You can either pick up the foreign currency from their counter at the airport, have it delivered to your home before you travel, or pick it from their counter in the country you are going to visit. To sell foreign currency, you can visit a currency exchange in the city to do so. The charges are way better than anything the banks or currency exchange companies charge at the airport.