Currency Exchange rates per country pairs to ensure you get the best rate of exchange when going on holiday or using outside the United Kingdom
Exchange rates with MasterCard
If you are planning to travel a country where your currency is not accepted, then you can try to get the best exchange rates with your master credit or card. They help you get the best deals in regard to currency exchange.
While, ATMs are the best way by which local currency can be obtained at a reasonable exchange rate, but you should be cautious while using an ATM machine abroad since there are some international ATMs that have only numbers and no alphabets on the keypad. Some even do not recognize pins more than four digits. So, it is a safer option to alter your ATM pin code to a four digit number.
Another drawback of relying on ATM card for currency exchange is that it includes a certain amount of fees. Hence, you need to wait for the transaction to get completed and know the exact transaction fees charged on the withdrawal. Furthermore, the fees imposed by several ATMs are really high when both the foreign banks as well as your own savings bank impose charges individually at the time of transactions.
Some popular banks such as Citibank and others like Bank of America have tie-ups with foreign banks (because of which the transaction fee is waived off at their ATM counters). Here, the Visa, MasterCard and American Express cards charge a reasonable exchange rate. So, you can use these cards abroad. These are traveler friendly cards and get you avail the best exchange rates.
What you can do is, search the web for the different types of MasterCards offered by several banking institutions at different prices. After making a comparison, you can pick up the one that best suits all your financial needs.