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•  Cash, Check or Plastic: Exchange Rates Abroad In the struggle to obtain the better exchange rates abroad, travelers often find themselves confused between: a) buying foreign currency at home or when arriving; b) using traveler's checks; or c) wearing the magnetic strip off their debit/ credit cards. In a nutshell, sound advice would have you doing some of "a," very little of "b," and lots of "c." This is why: Large banks and financial companies purchase foreign currency in bundles, so they manage some of the best prices in the market. When you buy with plastic abroad or exchange money via a local ATM, the exchange rate that will be used to cover these transactions will come the closest to the wholesale rates your bank or financial institution is getting. However, some credit cards have recently announced a surcharge for purchases outside their country of origin, so it is necessary to check that this is not your case. For small purchases, obtaining local currency through an ATM is also the best way to get the better rates, hassle free: Cirrus, Plus, Visa, and other international networks are all available in Vallarta. Traveler's Checks, albeit the security they offer in case of loss or robbery, generally do not offer as good an exchange rate as credit/debit cards; plus, there's a charge to buy them in some countries. In Vallarta, they will be taken at a poor rate in establishments; however, if you are using American Express Traveler's Checks, their offices downtown do offer the most competitive cash-in rates, the only downturn being that you need to abide by their working hours. None the less, Traveler's checks in general are good to have for emergencies or when banks fail. Buying foreign currency before arriving to your vacation spot is a good idea when done in small quantities. Doing so beforehand saves you the trouble of finding an exchange booth after a long trip. If you need to change money in the visiting country, banks again have the best rates. Don't be dunned by the "no commission" banners at local exchange bureaus, that only means that their fees are built into their rate. So charge whenever possible and just draw cash from ATMs when needed: you'll be doing less worrying about the exchange rate and concentrating more on not worrying - period. After all, that's what you came here for. Happy vacationing!

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