As a freelancer who receives many payments from overseas, one thing that happens to be a lot more common than you might think is the fact that I have to deal with currency exchanging services at least once or twice a month. So far my experience has been relatively decent, but it was not always like this, as a matter of fact, I have made a few mistakes in the start because I did not know how to deal with currency exchanges.
Then I got to know about the best currency exchange in Toronto and everything was smoother from there on. If you are thinking about going to a currency exchange, you might have some questions in mind. In this article, I am going to talk about some of the questions that you might need to ask.
What is The Exchange Rate?
The first question that you need to ask a currency exchange is the exchange rate they are offering. It is also known as conversion rate, and it basically is a rate on which your currency will be evaluated. This is important because sometimes, you get a rate that is lower than what you may have seen on Google, or some other websites; while the difference should not be that huge, it can be a very low balling instance as well.
Can You Offer Higher?
Not all currency exchange will bargain, but in some situations, there is a margin that can be adjusted accordingly. If you think that the offer that is being given to you is on the lower side, then you can actually ask the currency exchange if they are willing to offer you a higher rate so that you don’t go in total loss.