From Rupees to Riches: How to Outsmart High Forex Charges on Your Next Trip

Traveling overseas in 2025 doesn't have to mean forfeiting money to sneaky forex charges and poor exchange rates. As international travel increases, there are the latest expert-approved tips for travelers to save more of their hard-earned cash:

 

Opt for Forex Cards Instead of Credit/Debit Cards: Forex cards enable you to fix exchange rates when you top up the cards, which helps you avoid future exchange rate fluctuations and also charges lower or no foreign transaction fees. Credit and debit cards, on the other hand, charge 4–6% markups and withdrawal charges, and therefore are more expensive for foreign purchases.

 

Avoid Airport and Hotel Currency Exchanges: Hotel and airport foreign exchange bureaus charge heavy markups-at times as much as 10–12%. Exchange currency in advance at authorized dealers or city-center banks, who have better rates.

 

Track and Time Your Foreign Exchange: Begin tracking exchange rates at least two weeks prior to your travel date. Utilize apps or online reminders to capitalize on favorable rates, and consider buying local currency in advance from a secure source.

 

Cash and Card Balance: Use an 80:20 ratio (80% on a forex card, 20% in cash) in developed nations. In cash-dominated countries, carry more local currency to save on double conversion charges and additional fees.

 

Use No-Fee Credit Cards When You Need To: If you need to use a credit card, use one that has no foreign transaction fee. Banks now permit travel cards that are intended to charge no such fees.

 

Take Advantage of Loyalty Schemes and Travel Offers: Make good use of airline miles, travel reward credit cards, and seek out promotional forex offers to cut fees further. Plan and Prepay Higher Costs: Reserve flights, hotels, and tours ahead of time to secure prices and prevent last-minute price adjustments. Group travel also allows the cost to be split and rebates to be earned.

 

Discover Digital Wallets and Overseas Payment Apps: Options such as PayPal, Apple Pay, and Google Pay are being accepted everywhere and usually provide reasonable exchange rates with low fees.

 

By noting these shrewd tips, travelers are able to avoid unnecessary forex charges and make their overseas trips less costly and less fiscally draining.

 

Source: Mathrubhumi English, Moneycontrol, CNBC TV18, Bankrate, Financial Express