If you are planning to visit another country this summer, you will need to sit and properly plan your travel. You will need to apply for a visa, book your tickets, and arrange the currency of your destination. The most crucial step after getting your travel visa and booking your flight is finding a way to carry foreign currency instead of running to money changers on your arrival.

When you visit a money manager to get foreign currency, you will likely get it at a higher forex currencyrate. So, we have prepared a list of alternate ways to get foreign currency without visiting money changers.

● Multi-currency forex card

Instead of running to a money changer, it would be wise to purchase a multi-currency forex card when visiting another country. It is the safest and inexpensive way to carry foreign currency. The best part is that you can buy foreign currency at the best online currency exchange rates from the comfort of your home.

A prepaid forex card allows you to load in multiple currencies and use it to make all kinds of transactions without incurring currency conversion charges. Since the online currency exchange rate remains unchanged after loading your forex card, you are protected against foreign exchange rate fluctuations.

● Credit Card

You can enable your credit card for overseas use and get away with carrying little cash. It would be wise to bring at least two credit cards such as a MasterCard and a Visa to access funds, in case you lose one. The downside is the foreign transaction fee that comes with it. Every time you use your credit card to make a purchase transaction, you are charged a transaction fee which is usually between 2.2 to 2.7 percent.

● Banks

Another way to access foreign currency is through banks. If you are a frequent traveler or change money regularly, your bank may be able to offer you a better account than the one you are currently using. However, it is worth noting that banks can be more expensive than money changers. It is because there is a commission or administrative fee involved. Although banks are not 24x7 available, some banks offer 24-hours forex services.

● Hotels

Yes, it is true. Some hotels do provide forex currency exchange during emergencies when you can not access banks or forex brokers. Keep in mind that you will not get a fair foreign exchange rate. The rate you receive depends on the country you are visiting. Hotels in the United States of America tend to charge around 3% of the among you wish to change. It is, of course, on top of a fixed currency conversion rate. So, do not opt for hotels unless it is extremely necessary.