Cheapest way to buy foreign notes (USD)

[johnspake]

Hi everyone,

I am looking to buy a significant amount of USD notes for my travel early next month. I bank with FNB but their exchange rates + commission isn't favourable at all. Is there a better alternative to buy USD notes without losing much on fees and spread? Any advice would be appreciated.

PS: I know I can make use of FNB's Global account card for travels (which I do have) but in this case I require actual notes.

Thanks!

 

[sandwitch]

Depending what country you go to it'll be cheaper either at your transit airport, or in the country you're going to itself. And in the country itself, it'll be cheaper depending on where you go.
In SA you could also avoid the bank and do a private exchange but that's illegal AFAIK, and dangerous.

TDLR: Don't go through SA banks. Or SA anything.

 

[bobcpt]

Have you checked forex rates and fees at places like Bidvest Bank / Rennies / Travelex?

As sandwitch suggested, it will be cheaper and less of a paperwork hassle if you can withdraw the money on arrival in the destination country. Be careful of the exchange rates at airports atm's though. When I was in the US three years ago, withdrawals from my Capitec account were charged at a fixed fee while Nedbank charged a percentage based fee. Shop around.

 

[saor]

Depending what country you go to it'll be cheaper either at your transit airport, or in the country you're going to itself. And in the country itself, it'll be cheaper depending on where you go.
In SA you could also avoid the bank and do a private exchange but that's illegal AFAIK, and dangerous.

TDLR: Don't go through SA banks. Or SA anything.

Also saves you the worry of travelling with cash.

 

[johnjm]

Yeah, have always withdrawn cash overseas when needed. Unless you are going into Africa somewhere you don’t need to have wads with you.

 

[dunkyd]

Crazy people carry cash.....

 

[Jola]

Just be aware that their are limits in many countries wrt carrying large amounts of cash, and you may also have to declare it.

 

[bwana]

You are the weakest link, goodbye!

Why quote the obvious spam? Repeatedly

 

[ScottulusMaximus]

in this case I require actual notes.

Cut up drinking straws, less baller but will save a lot.

 

[rodga]

@archibald

 

[johnspake]

Depending what country you go to it'll be cheaper either at your transit airport, or in the country you're going to itself. And in the country itself, it'll be cheaper depending on where you go.
In SA you could also avoid the bank and do a private exchange but that's illegal AFAIK, and dangerous.

TDLR: Don't go through SA banks. Or SA anything.

Have you checked forex rates and fees at places like Bidvest Bank / Rennies / Travelex?

As sandwitch suggested, it will be cheaper and less of a paperwork hassle if you can withdraw the money on arrival in the destination country. Be careful of the exchange rates at airports atm's though. When I was in the US three years ago, withdrawals from my Capitec account were charged at a fixed fee while Nedbank charged a percentage based fee. Shop around.

Thanks and sorry for the late response. I am travelling within Africa and unfortunately I am unable to withdraw any dollars in the country. Not sure about the airport on arrival but I think the country is mostly cash based. I could try finding out.

I changed half the amount from the bank this week because I don't want to risk leaving it for the destination country and things don't work out. I'll do some research on whether the transit airport (Ethiopia) would have something for me.

 

[johnspake]

Yeah, have always withdrawn cash overseas when needed. Unless you are going into Africa somewhere you don’t need to have wads with you.

It's within Africa. We got to work with cash unfortunately

 

[johnjm]

It's within Africa. We got to work with cash unfortunately

If it’s Africa then it makes sense. Been there, for the t shirt. Just don’t let them know at customs, else you can kiss it all goodbye, no matter the amount.