Tag Archives: Foreign currency exchange

Why Online Currency Exchange is Better

Using an online currency exchange service that is licensed and registered such as Xchange of America is often a far better alternative than other options. You can save both time and money and ensure that you have the currency that you need well ahead of your trip. Online currency exchange takes far less time than other methods and has become the future of currency exchange. As Xchange of America continues to grow each year, we have found that many of our customers prefer the many benefits of using our website as opposed to having to visit one of our storefront locations. You can get many of the same benefits without having to travel or look for a local currency exchange service.

Save tons of time

There is no question that you will save tons of time compared to other currency exchange options – the amount of time that you can save will quickly add up if you have to make multiple currency purchases or if you don’t have much time prior to your trip. This can make all of the difference when you don’t have very much time to spend on currency exchange and just want to get it taken care of so that you can focus on your other obligations. Within just a few minutes you can have your currency shipped to your home well ahead of your travel date, allowing you to take care of your other obligations and ensuring that your trip goes smoothly from start to finish.

Get your questions answered

With an online currency exchange service like Xchange of America, you can get your questions answered so that you can properly prepare for travel. Many of our customers are purchasing currency for the purpose of traveling but aren’t sure about the country they are traveling to. They may have questions about safety, attractions, the amount of currency to bring and other topics which we frequently cover on this blog. Our staff can answer many of these questions or point our customers to the right resources, while also helping them prepare for their trip and ensuring that they know exactly how much currency that they will need for their trip.

Secure multiple payment options

At Xchange of America you can also choose from multiple secure payment options – whichever options are suitable for you. Many other currency exchange services limit the payment options that you can use, while we aim to try to provide a flexible process for a wide range of different customers. You can also trust that your information will be protected by the highest level of security possible – this level of security is also hard to find from other providers. With several payment options and industry leading security, you can make a purchase from the comfort of your home and have all of your needs met. There’s no better way to purchase currency, and the time that it can save you can be substantial when you add it all up. Make a purchase for currency at Xchange of America today or call us with any questions.

Understanding Honduras Currency

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Travel to any destination is exciting, especially when that destination is Honduras, a country rich in beautiful coastline and mysterious ruins. While it’s wise for Americans to stay toward the coasts and away from the dangerous cities, Honduras has plenty to offer. Mayan ruins rest here, as does the perfect diving conditions on Bay Islands, as well as the opportunity to explore nearly a dozen national parks. It is also one of the most cost-friendly countries in the area, attracting tourists to the white sand beaches and clear ocean waters. If you are planning a trip to Honduras, make sure you understand the currency, then proceed to XchangeforAmerica to grab some cash while sitting at home.

The currency is called lempiras. It comes in coin and paper versions, and is divided in similar denominations to the American dollar. Remember that hotels and shops will charge higher rates for exchange, so make your foreign currency exchange before leaving home. Use common sense with traveling with cash in Honduras, as in any country, and divide the cash among different pockets. If you are traveling with someone, divide the money between your persons. This will reduce the amount stolen if you are robbed.

Grab 100 and 200-lempira notes, as the 500 notes are more difficult to cash in most locations. Get smaller notes for tipping, buses, and smaller expenses, such as the 1, 2, 5, 10, and 20 lempira notes.

Keep in mind that many places on the islands will take American dollars in addition to the lempiras, but be sure to ask before assuming. On the mainland, you will only be able to use lempiras. It’s also wise to invest in a cash belt, putting only what you will need for the day in your front pocket. It’s never a good idea to advertise the real amount of money you’re carrying.

Remember that ATM’s in Honduras are not always reliable, so it’s not wise to rely on them for more currency. Try to exchange what you will need before leaving home, and have a plan for carrying the foreign currency in a number of different pockets, to avoid having it all stolen by a pickpocket.

Keep in mind that tipping in Honduras must be done with lempiras, in small bills. Check the bill to see if a service fee has been added, then tip according to the service provided. Tip porters, maids, wait staff, and anyone else you might tip in America.

Prices on the islands surrounding Honduras are low, with the mainland becoming increasingly more expensive. Shopping includes many different markets, including open-air markets, where travelers will stretch their lempiras by haggling prices. This practice is expected. Department stores make an appearance here, as do stretches of shops, similar to outdoor malls. Specialty stores are great for souvenirs, but may only take lempiras. Find out before traveling, or research before making a purchase. Either way, if you carry both dollars and lempiras, you will always be prepared. Contact XchangeforAmerica today to grab your lempiras and be ready for your exciting trip to Honduras.

Financial Tips Before You Travel

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Traveling is exciting, but it requires a high level of planning. Remembering everything can be consuming; what if you forget something then realize it in the foreign country, where you can do nothing to change it? Planning for the overall trip requires a number of different planning lists, including a financial planning list, which is the list people forget to create most often. From foreign currency exchange online to understanding foreign banks, there is a full list of to-do’s to complete if you want a financially sound trip.

Prepare a Budget

It’s important to prepare a budget while planning for the trip. Not only does this help you prepare for the necessary money exchange, it will help you understand exactly how much cash you’ll need to exchange. Costs to work into this budget include, but are not limited to, daily food, transportation, shopping, and entertainment options throughout the trip. In fact, the budget should be one of the first parts of planning the trip – this way, you will be able to watch the exchange rates and get the cash exchanged at the best rate possible before leaving. It’s wise to add 10% to what you believe you will need to account for unexpected expenses.

Call the Bank

It’s always wise to tell your bank about your trip. If you elect to use a credit card, your bank will know of your plans, and will not cancel your card, as use of a card in a foreign country signals to the bank that it might be stolen. If your card is declined because your bank is trying to protect you, you may find yourself stranded. Don’t do this to yourself. Tell your bank of your intention to use the card in a new location, and, while you’re on the phone, find out if your bank offers any services in the country of travel.

Use Back Up Plans

Back up plans are always wise, as you never know what might happen. Consider purchasing traveler’s insurance to back you up in case that card is declined, or something else goes wrong. Also, split the cash you have with your travel partner, if you have one. This way, if one person is robbed, you have a fallback plan. Wear a moneybelt when traveling alone, or hide your currency in inner pockets, such as inside jackets or inner pants compartments.

Exchange Online

It’s always smart to exchange online with a service such as Xchange for America. Exchanging early, before the trip, saves the stress of having to research reliable foreign places for exchange, and it puts cash in your hand as soon as you get off the plane. You are free to proceed directly to a taxi or other transportation service without waiting in line at exchange centers. You’ll get more out of your vacation, and you’ll have more freedom to do what you want, instead of what you have to do.

Planning financially is the most overlooked necessity in traveling. When you make a financial to-do list, you come home feeling relaxed and secure in the knowledge of exactly where each penny of your money lies.

What to Understand About Foreign Currency Exchange Before Traveling

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It’s essential for every traveler to understand the money they will be using upon arrival in the foreign country; unfortunately, too many travelers wait until the last minute to consider their foreign spending power. The truth is that choosing how to spend overseas money requires some research combined with personal choices. The best travelers make these decisions in the initial planning stages of the trip, rather than waiting until they arrive in the destination country.

Consider the Constant Flux

The smart traveler checks the currency rates and makes exchanges during the planning stages of the trip, but also checks the exchange rates consistently, as they are in constant state of fluctuation. Remember that a great rate today could change tomorrow, so make sure to grab the best rates when they are available. Rates are also subject to change within minutes, so make it a habit to watch the rate flux when deciding on currency timing. Check the rates immediately before traveling as well, to know what you’ll be facing when you arrive at your destination.

Cash Vs. Plastic

Many financial advisors have hinted that we should all get rid of paper money and just use plastic, but the world as a whole hasn’t caught up with this concept. Plastic is still not accepted everywhere, and US cards used abroad are often prone to technical glitches. Professional banks, such as Discover, warn travelers to not be surprised if a card is rejected overseas. Smart foreign travelers know that there is also a fee attached to using a credit card in other countries; the sticker shock alone makes travelers shy about using plastic over paper. It’s smart to grab some cash currency before leaving, or purchase an international currency card, preloaded, before getting on the plane.

Exchange Ahead

The idea of exchanging money ahead of time when traveling appears to be the best available option. After you’ve found the best rate through your diligent following of the exchange rates, and when you’re ready to secure the cash you’ll need, it’s time to contact Xchange for America and make the transaction happen. You’ll have the best rate possible, minimal fees, and the peace of mind you need to go directly from plane to taxi, and forward with your trip. You’ll take one less hassle out of the full travel experience.

Exchanging After Travel

It’s wisest to exchange before traveling, but sometimes, it’s necessary to exchange mid-trip. There are a few considerations for exchanging overseas. It is possible to exchange at the airport, and it’s typically highly convenient, but it’s not always safe, especially if you have no experience with the country you’re visiting. However, if you do exchange at airports, read ahead to find out how easy it is, if there are extra fees, and if there are change or cancellation penalties. The best way to read about a specific airport is to visit its website, which typically contains exchange information.

ATM’s and banks are a second option in foreign, in-country exchange. Remember, however, that ATM’s include hefty fees, sometimes hidden behind specific ATM provider fees. Many travelers have been hit with sticker shock upon returning home and reviewing these charges.

Foreign Currency Exchange Saves You Money

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You are used to dealing with America dollars and many foreign countries will readily accept these dollars when you pay for goods and services. This does not mean that it is a good idea for you to use American dollars in a foreign country. It may cost you significantly more to paying in American dollars than it would if you used foreign currency exchange to pay with the currency of the country you are in. For this reason, it is advisable to buy currency before traveling to a foreign country. One convenient way to buy currency is to buy foreign currency online trough Xchange of America.

American Dollars and Dynamic Currency Conversion

When making purchases in a foreign country, you may have the option to pay for these purchases with American dollars. Switching from paying in the local currency of the country to paying in American dollars is a process called dynamic currency conversion. When a store merchant gives you the option to pay for goods or service in America dollars, the currency exchange rate that the merchant will use is far worse that the currency exchange rate that you can get elsewhere. Because the currency conversion is taking place at the point of sale, the merchant does not need to offer a competitive foreign exchange rate and can offer foreign currency exchange at the highest rates that are charged. The merchant is allowing you to have the convenience of not having to buy currency, however, this convenience is coming at a significant price. The merchant may not even tell you what currency exchange rate he or she is using.

Foreign Transaction Fees and Dynamic Currency Conversion

You may be under the impression that if you use dynamic currency conversion you can escape the foreign transaction fees that many credit cards and debit cards charge when you use them in foreign countries. This may not be the case. Many credit card companies will charge you a foreign transaction fee even if you use dynamic currency conversion. This is because the credit card company’s ability to charge a foreign transaction fee is not limited to instances in which foreign currency is used. Instead, the credit card or debit card company may charge a foreign transaction fee for every time the card is used in a foreign country regardless of the currency of the purchase.

Save Money and Buy Foreign Currency Online from XChange of America

To avoid the often high cost of dynamic conversion which can be accompanies by foreign transaction fees, it is a good idea to buy foreign currency online before departing on your trip abroad. This allows you to receive a more favorable currency exchange rate that you would receive through dynamic currency conversion at the point of sale. XChange of America updates its foreign currency exchange rates daily and does not have hidden fees that can add up to you paying a lot more. Thus, it is wise for you to buy foreign currency online from XChange of America before traveling to a foreign country.

Important Facts About Foreign Currency Exchange

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Many people purchase currency online before they travel, and foreign currency exchange has become one of the biggest businesses in the world with an increasing amount of global travel and a more globalized society.

It’s important to purchase the currency of the country that you are traveling to prior to heading out; this way you won’t be stuck without having a sufficient amount of cash for expenses that might pop up. You have to remember that although some places may take U.S. dollars or whatever else your native currency is, there may be other places that don’t. To avoid having to make a last minute detour and trying to find an exchange abroad, you should be sure to purchase currency ahead of time before your trip.

One tip to remember is that when a country raises their interest rates this will cause their foreign currency rate to rise, and when they announce the lowering of interest rates the currency exchange rate will fall. But, the world itself is a volatile place and it is hard to make predictions long term. Take for example the unease of the euro today. Only several years ago it was considered one of the strongest foreign currencies in the world.

So the currency exchange rate will fluctuate based on these factors and other factors. You’ll notice that the rates on Xchange of America will change from time to time, and this is because of the fact that the exchange rates fluctuate. In spite of this, you can time your currency purchase to get the most foreign currency for the lowest amount of money.

You do not need to venture solo into buying foreign currency all on your own. You can choose to work with a company that has expertise in this area. In other words, you can work with a company like Xchange of America that has employees who schooled in foreign exchange currency and allow them to do the research and exchanges for you or on your behalf.

We have the expertise to be able to advise you on the best time to purchase the currency of the country that you’re traveling to, and we can provide you with any specific information that you need to know based on your requirements.

It’s always a smart decision to carry a sufficient amount of currency with you prior to traveling, and you’ll find that you can not only save a lot of money if you do this, but that your trip will often be easier. You won’t get stuck not having enough currency for transportation, food, and many other types of expenditures, and you’ll be able to get around with ease.

It can be difficult to find a suitable currency exchange service before you travel, but Xchange of America is one of the leading services in the world, and we can definitely help you no matter what your requirements are. To learn more about the currency exchange services provided by Xchange of America or to ask any questions at all, contact us today at 1-888-XOA-XOA.

When is The Right Time for Foreign Currency Exchange?

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Perhaps you have already planned that you will be traveling to another country in a month or so. You feel like you have already prepared everything such as booking you are going to stay for the duration of your trip as well as tours and buying travel packages that have allowed you to save money.

But one crucial thing is to exchange your local money to the foreign currency of the country that you are going to visit. This can become an issue because if you try exchanging your money at the airport, because of the fact that you will get poor exchange rates. On top of this, you have to pay for service fees and other extra fees that you probably aren’t aware that you have to pay for.

Purchase Foreign Currency Exchange Ahead of Time

One good way to make the most of the money that you will use for your trip is to check for foreign currency exchange services that you can do online. These services can save you a substantial amount of money compared to airport exchanges.

Purchase currency ahead of time and you will know that you will have the right amount of cash that will allow you to be comfortable in a new country. At the same time, plan your time wisely as it is a good idea to purchase currency a few weeks before your trip. If you buy it ahead of time, there’s no need to worry about getting the currency that you exchanged as you will receive it right at your own doorstep.

Planning When to Purchase

You may think that you have already thought of everything that you would like to plan for your trip, but what if you don’t have the currency that you need the moment that you arrive at your destination country?

What if you cannot even hail a cab simply because you do not have enough cash? You do not want to risk having your money exchanged at a random money exchange booth because the rates might be bad. A couple of weeks or more before your actual trip will be enough time for you to plan out a foreign currency exchange.

Trusting One Online Foreign Currency Exchange Company

If you would to use an online service, you will see that there are a lot of companies that offer foreign currency exchange but how can you possibly choose the best one for you? Instead of looking around, try out Xchange of America. You can be sure that our company will give you the best rates available. Not only that, our staff members will be more than willing to give you the information that you need about rate fluctuations and when the best time to purchase certain currencies is.

Simply contact us today and we will give you a prompt reply. Don’t waste your time checking out other companies that may offer foreign currency exchange but will give you mediocre service. Check out Xchange of America now especially if you have a trip planned. Call us today at 1-888-7-XOA-XOA to get detailed information about currency exchange.

Saving money on foreign currency exchange

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There are several ways in which you can save money on foreign currency exchange if you ever need to exchange currency, and you should take advantage of these methods to save money to reduce your expenses whenever possible. One of the best ways to save money on foreign currency exchange is to use a service like XChange of America for your currency exchange needs. XChange of America is one of the leading currency exchange services in the United States, and it offers you several options to exchange your currency for any other foreign currency that you may need. You can purchase currency online from the comfort of your home and have it delivered to you in just a matter of days, and the entire process is safe and easy.

When you use XChange of America you avoid service fees

One of the main reasons why you may consider using XChange of America for currency exchange is that you will avoid service fees. This can add up to be a large amount of money because many services will charge you a percentage of your total currency exchange as a service fee, or they may tack on a very large flat rate service fee. We will never charge you any service fees no matter how quickly you need currency, and we never take advantage of customers that may have no other option like some of the airport currency exchange services and other services that will cost you much more for foreign currency exchange.

Plan your foreign currency exchange for a day when the exchange rate is good

Another way to save money on foreign currency exchange is to plan your exchange for a day in which the exchange rate is favorable. This is easy to do because you can always look up what the daily exchange rate is online, and there are many resources to help you plan out your foreign currency exchange. We can advise you on the best time to perform your foreign currency exchange so that you receive the maximum amount of currency and save the most money. It is worth the bit of extra time and effort that it may take to plan you foreign currency exchange purchase out; you may end up save 10% or more on your exchange.

Ask an expert at XChange of America for advice

If you aren’t sure about the best day for your foreign currency exchange, you should ask an expert at XChange of America for advice regarding your currency purchase. We can always help you plan your purchase out so that you get the most foreign currency at the lowest price possible. You may also need advice regarding the amount of cash that you will need when you travel abroad, because this amount will differ from one country to another and depending on the length of your trip. If you have questions about foreign currency exchange, please do not hesitate to contact XChange of America today for free information on how you can save money on currency exchange.

How to save money on foreign currency exchange

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If you need to purchase foreign currency, there are several ways in which you can save money on currency exchange. If you use a service like XChange of America you can save tens or even hundreds of dollars on foreign currency exchange because we charge you much less than other services. If you wait and use an airport currency exchange service, you will likely lose money because of their high fees. Don’t wait until the last minute and purchase your currency ahead of time using a foreign currency exchange service like XChange of America. You can have your currency delivered directly to your home by purchasing it through our website.

Wait until the foreign currency exchange rate is favorable

Another way to save money on foreign currency exchange is to wait until the exchange rate is favorable. There are some days when the currency exchange rate will not be as favorable because the rate changes on a daily basis. Try to time your purchase so that your country’s currency is valued as high as possible against the currency you are looking to purchase. You can look at charts for several days or weeks at a time to see how the exchange rate has fluctuated over time. The best thing to do is pick a rate that you would like to purchase foreign currency at, and wait until your main currency has strengthened before making a purchase. Also you should purchase as much currency as you will need all at once.

Don’t purchase currency at an airport foreign currency exchange

If you purchase currency at an airport foreign currency exchange you will end up spending much more money than you need. These foreign currency exchange services tack on extra fees for foreign currency exchange, and you may end up spending 20% more or an even higher percentage than necessary. If you use Xchange of America for foreign currency exchange you never have to worry about service fees. Airport foreign currency exchange services will end up costing you a substantial amount more, and it may end up being a hassle with the extra delays on your trip. You can buy all of the foreign currency you need ahead of time at a reputable foreign currency exchange service like XChange of America.

Buy all the currency you need at once at a foreign currency exchange service like XChange of America

It is helpful to buy as much currency as you will need all at once, and if you pick a day that the exchange rate is favorable as previously mentioned, you will save the most money. Try to anticipate how much cash you will need for your upcoming trip and buy it all at once to avoid having to buy extra currency once you’ve traveled. Ideally you don’t want to have to exchange any currency at all once you have reached your destination, because the cost for any foreign currency exchange once you have already traveled will be much higher. At Xchange of America we can help you determine how much currency that you will need so that you can buy a sufficient quantity all at once, and we can help you time your purchase as well.

What Influences the Foreign Currency Exchange Rate?

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Most people, sometimes even professionals, really don’t think about what can influence the foreign currency exchange rate. In actuality, there are really many more variables and influencing factors than could be listed and discussed. However, understanding the main ideas and considerations will make you much more aware of how the foreign currency exchange rate works.

Foreign currency exchange rate depends on economic factors

Ultimately, the foreign currency exchange rate will depend on a number of economic factors. For example, whether or not the country in question has a strong economy. Certainly, countries like the US, Great Britain, and Germany are known for their large and powerful economies, which should influence the rate at which dollars, pounds, and Euros trade. You will also see that countries with relatively weak economies like Mexico or even Zimbabwe have much different levels of foreign currency exchange rate. In other words, the strength of the local economy determines the exchange rate.

Foreign currency exchange depends on demand

As with any other product or service, the foreign currency exchange rate will depend on the demand and the supply of that particular money. Both of these factors also need to be considered. A very popular currency could ultimately be printed in such large quantities that the demand for it ends up dropping. That would cause the foreign currency exchange rate to drop, sometimes precipitously. In other cases, the actual lack of a supply can serve to drive up the value of the foreign currency exchange rate. It is really a bit of a balancing act.

Depends on how many people are trading the currency

How the currency itself will fluctuate can also be determined by the number of people who are trading and buying the currency. The foreign currency exchange rate has been known to be manipulated from time to time by a number of big traders working together. Fortunately, it is becoming much more difficult to pull off such a scheme today. Not to mention the fact that a lot of everyday folks are now going to exchanges in order to buy money for personal travel needs.

Use our services for the best deal

No matter why you are looking to buy foreign money, the Xchange of America can assure you of receiving the very best foreign currency exchange rate. Having been in business for a number of years, the company has developed a well-deserved reputation of quality and offers you great values at the lowest cost found anywhere.