Top Tips on How to Save Money on Foreign Exchange While Studying Abroad

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The number of hard-working people in many countries has increased over time. As a result, there is a significant rise in the number of students who want to study abroad and gain valuable experience. While it’s unquestionably a life-changing experience for students who typically choose to pursue their post-graduate or Ph.D. degrees overseas, one truth that can’t be ignored is the expensive price tag that goes along with it. The excessive rates of foreign exchange for students add an additional burden to the already enormous budget of different charges and personal expenses.

Next, we at Thomas Cook mentioned some crucial pieces of advice that may be helpful for students studying abroad looking for a way to save money on foreign exchange. So, discover them by scrolling through!

Prepaid Thomas Cook Forex Card

For many students about to head abroad for studies, it is the first time that they are setting foot in a foreign land. Even though your selected university and the study program have guided you enough, nothing can minimize the shock and challenges of a new place and culture. Why let the fluctuating foreign exchange rates confuse and distress you further?

To minimize any complications related to foreign exchange for students, it is suggested to purchase forex in advance from Thomas Cook. Yes, they are convenient and safe, but the best part about this product of ours is that it can effectively eliminate the complications caused by the always fluctuating and ever-complicated foreign exchange rates.

Do you still actively explore multiple forex locations in your area to compare rates?

Avoid inflated currency rates and shady merchants! One of the most reliable foreign exchange partners in the world, Thomas Cook, offers online foreign exchange purchases. If you want to avoid the trouble of carrying distinct foreign currency for each nation you intend to visit, it only makes perfect sense to choose our forex cards designed for students enrolled overseas.

Forex- exchange

Students who are studying abroad can concentrate completely on their studies while we handle their foreign exchange needs. We handle all of your currency exchange needs in a simple and efficient manner to ensure that your education period abroad is as seamless as possible, whether you need to buy Forex , sell your foreign currency, send money oversea, or simply refill your forex card. To sell or buy forex online from the comfort of your home, visit our Forex homepage. You will pay the correct amount and avoid costly currency exchange dealers thanks to accurate computation and our commitment to openness. To calculate your money conversion, use our online currency converter. You can also read our blog post on the advantages of forex trading.

Watch the forex rates, evaluate them, and select the appropriate channel

If you haven’t flown yet, comparing and monitoring currency rates is a simple y4 et essential step to begin the whole process. You must keep an eye on each merchant’s rates because several offer currency exchange services. We are aware that exchange rates fluctuate swiftly and that they frequently vary between banks and other financial changes. So, be mindful of the fluctuations and purchase foreign currency while they are low. Since they are always competing, online foreign exchange for students with our help can provide you with better and reasonably-priced outcomes.

The entire process may seem easy but in reality, it is quite different and difficult. Thus, your best option to find the best forex cards and cash facilities curated for Indian students studying and living overseas is the one and only, Thomas Cook!

We are here to guide, inform, and oversee everything and anything that have to do with getting a student’s forex cards for international studies.

While studying abroad, use a forex card

It is not sensible for a student to manage daily overseas spending with the help of cash and debit or credit cards mainly. In addition to being more affordable than cash and cards, our forex card for students has a lot to offer. They also have the added benefit of enabling rate comparison with other FX products and interbank rates. While certain debit cards advertise zero margins, the actual rates may not be interbank rates, causing clients to pay far more than interbank prices. When the forex card for students from Thomas Cook is concerned, such issues can be avoided completely.

Nearly everywhere Visa or MasterCard are accepted, your forex card will be acceptable in those places as well. These cards come with an insurance cover, a pin-secured lock, and no foreign transaction fees. The best thing is that you may top them off while you are away from home, allowing you to spend the money on regular expenses.

The trick is to keep an eye out for fees like ATM withdrawal, replacement, balance inquiry, and any other hidden fees.

Decide on a forex card for international students wisely based on your needs and usage patterns.

Compare prices and buy local currency

One of the most fundamental things to remember before going abroad is purchasing foreign exchange. It is better than converting money abroad or paying with a debit or credit card. The variation between one currency exchange firm and another might be as high as 6% based on the currency you’re engaged in and the city you are in.

You can now use Thomas Cook’s online forex platform, which compiles rates from several currency exchange providers and banks to save time and reduce the tension associated with rate bargaining. The best rate is provided to students studying abroad online effectively.

Conclusion

While studying abroad will be the most memorable few months of your life, it will also unquestionably be the most expensive. Everyone must experience the exhilaration of moving to a different country, along with their lives’ most financially challenging times.

While studying abroad, you can cut costs on foreign exchange to make the experience less stressful. Given the current level of uncertainty surrounding the coronavirus pandemic, it will be sensible to conserve money in any way that is possible. The volatility of foreign currency prices varies significantly between banks and other financing companies. Because of this, you must always be aware of these fluctuating exchange rates and take advantage of them by making purchases when the cost is noticeably lower.

As we described here, one of the most crucial matters you should remember before flying abroad is that purchasing foreign currency in your country is a better option than exchanging money overseas or using a debit or credit card. For many, the forex card for international students is their savior. Let Thomas Cook guide you in this matter and ensure you can save up well while studying and living abroad. Our different forex products designed for students are helpful. Saving money after moving abroad is possible via our forex products