How to exchange money without getting screwed.
Check the exchange rate BEFORE departing for that country.
Use an ATM - at airports are the ones I use the most, first because they usually always have money in them (cant count the times I’ve been overseas and the one ATM in a small town is broken or out of cash. Second because of how frequently they are used I feel that its less likely my information will be stolen. Third, immediately having local currency on you to bargain with taxi drivers is key for saving yourself a few bucks.) Do remember that the ATM local bank AND your personal bank will charge for the cash withdraw, so it costs about $10 every time you get cash out.
Exchange money at the airport and request small denominations, they usually don’t have the best exchange rates, but you want to get your hands on local currency as quick as possible to save yourself money in the long run. So I’ll usually exchange $100-$200.
When exchanging money at a hole in the wall spot on the side of the road make sure the teller counts it back to you over the counter. (Many places in Asia, tellers are known for counting the money from one hand to another and dropping bills as they count behind the counter.)
Recount your money immediately in front of the person who exchanged it.
Don’t accept bills that are taped together.
When exchanging currency back to your native buck most places wont accept small domination bills or coins back to exchange.
Exchange with travelers who just got to -or- are leaving the country. Then you can get the global exchange rate for that day and both parties win.
Hold bills up to the light to ensure they are real. (I was given fake bills from a taxi driver while in Buenos Aires.) I learned that taxi drivers were known for this because foreign passengers were usually in a hurry and not looking at the change/bills they were given while getting out of the car.
Take that extra second while handling your money, to count your change and put it in that right pocket. That extra second is everything.
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