Changing EUROS for AMERICAN DOLLARS using cash

Changing EUROS for AMERICAN DOLLARS using cash

If you are travelling to the USA, Latam (or any other country where dollars are accepted) you will probably need some cash for your first expenses. If you plan ahead, you will be able to make a fair deal to get that cash. Here are some tips so that you do not pay any commissions while changing your euros into dollars:

  1. Plan with sufficient time in advance how much cash you want to take with you.
  2. Find out exactly what the exchange rate for dollars against euros is. The exchange rate is the relation between the value of each currency, and it changes on a daily basis. For example, on January 27th of 2019, the exchange rate of the US dollar vs the euro was 0,87€. This means that if you want to buy 1 dollar, you have to give 0,87€.
  3. In Europe, the European Central Bank publishes every day an official exchange rate for each currency against the euro. But not everybody uses it!
  4. Banks and exchange houses will charge you a commission if you want to buy or sell dollars. Some say they are doing it for free, but include the commission in the exchange rate and give you a worst price for your dollars. That is, they will charge you more euros for the same amount of dollars and depending on where you are trying to buy the dollars, commissions can be as high as 20%!
  5. If you want to buy dollars completely free of commissions, you can use diswap.com.
    1. Search for the currency you need among all offers published.
    2. Contact with the one that fits you best. The application will give you the equivalent amount of euros, at the official exchange rate.
    3. Meet the person and exchange the money.
    4. Easy, fast and totally free!

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