Simorgh London Exchange

Why do people go to money exchange?

When preparing a trip abroad the financial aspect always emerges at one point or another. This is especially true if you are traveling to a country with a different currency. Do you need to exchange money before departure or directly abroad? Should you go to a bank or a money changer? What is the best choice for you?

It is quite possible to go to your bank and order foreign currencies. Do not expect your bank to store foreign bank notes, as it has to order them and you'll have to wait a few days at least. In addition, as this is not the main activity of banks, the rate which will be used to change your money may be unfavorable!

Money changers are professionals specialized in this craft, so they are more competitive. 

There is also a good chance that you have to pay a fixed commission amount. It makes more sense to use your credit card to withdraw money in the foreign country you are using. It won't be the best choice financially speaking, but at least you are sure that you will not be fooled by a dishonest money changer.