3 Ways How You Can Convert Foreign Currencies Cheaper Than Your Bank

Singapore, one of the world’s advanced financial hubs. (Photo: Anton Slegers)

❌ Using your bank debit or credit card while making payments

The rate that day was 1 EUR = 81,1752 INR but I only got 1 EUR = 79,8969 INR offered by my bank.

❌ Exchange your cash at an exchange office

‘No commission’ signs basically scream that they have a high conversion rate that includes their commission.

❌ Use your bank card to withdraw money from an ATM

✅ Using a neobank that does not have hidden fees

1. Revolut

(Photo: Anton Slegers)

Revolut uses the inter-bank rate to exchange your currencies, which is highly favourable.

2. N26

(Photo: Anton Slegers)

3. Wise (formerly TransferWise)

(Photo: Anton Slegers)


1 Free means it doesn’t cost you a fee to withdraw or pay if you hold the currency in the app. Let’s say you pay a bill in Thailand and you have Thai baht in your account, you get charged for what you paid. If you only have euros on your card, but pay a bill in Thai baht, the neobank will exchange the currency (you pay a fee for that) and then it will be withdrawn from your account.

After seeing all these numbers and percentages … Don’t forget to just have fun on your trip and try not to squeeze every penny out of every transaction 🏖️!




Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store