How do immigrants exchange money?

Generally speaking, the exchange points at stations, airports and docks (marked with the word change) are the places with the highest exchange fees, even as high as nearly 12%, that is to say, the exchange points not only have to exchange cash into local currency according to the purchase price, but also charge high fees. For example, if you want to change 100 Deutsche Mark into Italian lira in Italy, although there is a unified exchange rate in the euro zone, you only get 87,200 lira, while according to the exchange rate of the Bank of China in the same period, you should get 98,900 lira. If you exchange money at a local bank, some banks charge a fixed handling fee of 3,000-6,000 lira for each transaction, while others charge no handling fee, but the exchange rate fluctuates as low as 1%.

For tourists, different brands are hung at the exchange points of scenic spots to attract tourists. Although some shops don't charge handling fees, the exchange rate fluctuates. Generally speaking, the total is about 10%. In Austria, which is adjacent to Italy, bank charges seem to be more standardized, 30 shillings (about 2 dollars) below 2000 shillings; 2000-3000 shillings, 45 shillings; 3000-4000 shillings, 60 shillings; If it exceeds 4000 shillings, it will receive 1.5%, but the exchange rate is about 4% lower than that of Bank of China. In Switzerland, the exchange rate of banks is 5% lower, and there is no handling fee. Please note that many hotels also accept US dollars directly, but the exchange rate is low 10%- 1 1%.

The money exchange point on the English Channel ferry has the fastest knife, and the handling fee for a few pounds of small money exchange (which is exactly what most passengers need for pocket money) is almost doubled.

Therefore, before going abroad, it is best to exchange a small amount of cash of about 8 dollars in domestic banks, so that you can have the basic transportation cost of changing money from the airport or station to the bank and avoid the loss of 7% ~ 10%. Of course, go to the bank to change money, and don't forget to bring your passport.