Whether one needs currency exchange for business or for leisure, such as travelling or shopping around a foreign country, the prices of currency exchange can be high at times. It can be a daunting task to get the best exchange rates in Vilnius. If you are planning to travel to Lithuania and want to secure currency exchange at the best prices, here we have discussed how to get currency exchange in Lithuania at the best possible rates
Know the currency exchange rate
Online currency converter – The first thing is to know the currency exchange rate. You can use an online currency converter to find the prevailing exchange rates. Some people plan and keep an eye on exchange rates and get currency exchanged or lock in a rate with an exchange provider when the rates are lowest. One must keep in mind that there’s no such thing as fee-free or 0% commission foreign exchange transactions. So, one must always check the mid-market exchange rate in advance to find out how much your money is worth.
Know the different methods for currency exchange
Know the various ways to exchange currency: there are many ways to exchange currency in Vilnius
ATMS
Many 24-hour ATMs in Lithuania allow you to withdraw money at any time. Even in the smallest towns in Lithuania, there will be at least one ATM. Most ATMs will accept Visa and Mastercard, along with Cirrus and Maestro. If you have an American Express card, it’s recommended to look for Citadele ATMs, which are the only ones that will accept it. The ATMS in Lithia generally use high-denomination currency in high denomination. If you want smaller notes, it is recommended to request a specific amount, such as €140. Most Lithuanian ATM providers don’t charge any fees, and those who do will display the amount to be charged before allowing you to continue. Even if you are not charged an ATM fee, you may still end up paying fees to your home bank for overseas ATM withdrawals and foreign currency conversions. Some ATMs might ask if you want to be charged in your home currency instead of euros. This is called “Dynamic Currency Conversion” (DCC), and it often includes a worse exchange rate. Always choose to be charged in euros to avoid this hidden fee. Also, check with your home bank about any foreign withdrawal fees before travelling.
Currency exchange kiosks
There are currency exchange kiosks at airports, hotels and restaurants. They are an easy and quick way to change one currency into another. Many people are tempted to get currency exchange at airports as they seem to be a reliable way to exchange money. However, currency exchange kiosks at airports and restaurants are known for charging the worst currency rates. You can get better options to exchange money in the city than at the airport.
Local currency exchange offices – Local currency exchange offices are considered the best places to exchange money in Vilnius. Whether you need currency exchange for business or personal use, these exchange offices deal in a wide range of currencies. These offices are strategically located at city hubs and make it easy to exchange money in Lithuania. They are also known for offering the best exchange rates in Vilnius. It also enables you to contribute to the local economy. It is prudent to evaluate the reviews and ratings of the exchange providers to choose a reliable exchange service provider.
In conclusion, currency exchange is a necessity when travelling in a foreign country. When it comes to Lithuania, there are many ways to exchange money without any hassle. However, one must do some research and read reviews and ratings to find the best service provider to get quality services at the best exchange rates in Vilnius.
