If I am travelling abroad, what it likely to give me a better exchange rate?

  1. Exchange Bureau
  2. Pull large sums of cash from an ATM

Note; I've been told that using ATMs is actually cheaper if you do it properly


It depends a lot of the country you are going to.

  • some countries, the best exchange rate is with street dealers. Some countries, this is illegal (but typically, then it works even better).
  • some countries, ATM is cheaper
  • some countries, changing in a bank is cheaper
  • it's nearly always more expensive if you exchange in the airport (or the main train station)

It also depends on your credit/debit card details. Some cards include fee-free withdrawal, and some cost an arm and a leg if used at a different bank.

So, a general answer is not possible.

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