There are 3 reasons why the best exchange rates are in the plane, I will demonstrate that whichever airline company you use such as American Airlines, Virgin airlines, British airways, air france and easyjet… The rates are the same, you find them in the plane.
1/ the best exchange rates are in the plane, you will never catch them
The perfect exchange rate today would be to get the mid market exchange rate but it’s impossible for human beings. Only robots get them. And the companies using robots to get them are intermediaries for you to have the exchange rate so they profit from this opportunity by charging variable and fix fees. However, they tend to not say that there are variable fees. Anyway they charge them. You get screwed. We call those fees hidden fees. There are ways to calculate how many fees you currently pay without knowing. The hidden fees tracker is a good one.
So it’s as if the best exchange rates were in the plane because you will never get them.
2/ the best exchange rates are in the plane, you should bring your money in your pocket and travel
Yes. Go in the plane by bringing less than 10’000 dollars or euros so that you are authorized to do it and you don’t change your money at the airport. It’s a nice way to have money and not pay exchange rate fees. You know what is the worst thing you can do when you exchange currencies? It’s exchanging too much. Indeed you pay fees in both ways which doubles the total fees from 10 to 20%. Too bad.
3/ the best exchange rates are in the plane, you should simply pay wherever you are, travel and have fun
Take your mastercard or visa card and go travelling. Period. It’s the easiest way to spend your money when it’s needed. However once you decide to stay in a place you should just check an online money transfer comparison website and transfer all at the best deal you find is day. Or even wait before if you find exchange rates notification service that van tell you when there is a good moment to send money abroad.
There are hidden fees and fix fees which prevent us from getting the best exchange rates. We should exchange money using our pockets anyway, and travel by plane. Or simply we can travel and pay where we need so that we don’t exchange too much money.