{"id":754,"date":"2013-12-04T17:18:43","date_gmt":"2013-12-04T16:18:43","guid":{"rendered":"https:\/\/toshl.com\/blog\/?p=754"},"modified":"2013-12-04T17:18:43","modified_gmt":"2013-12-04T16:18:43","slug":"guest-post-on-currency-conversions-0-commission-signs-are-a-gimmick","status":"publish","type":"post","link":"https:\/\/toshl.com\/blog\/guest-post-on-currency-conversions-0-commission-signs-are-a-gimmick\/","title":{"rendered":"Guest Post on Currency Conversions: 0% commission signs are a gimmick!"},"content":{"rendered":"<p>Here are my top 10 currency commandments for scoring a better deal, whether you are transferring money abroad OR buying holiday cash:<\/p>\n<p>1. Ignore 0% commission \u2013 it\u2019s purely a marketing gimmick designed to confuse. A terrible rate with 0% commission leaves you out of pocket<\/p>\n<p>2. All currency companies make money the same way: they apply a transaction fee (think 0% commission) and add a markup away from the \u2018real exchange rate.\u2019<\/p>\n<p>3. The markup applied is the strongest indicator of whether you have scored a competitive currency quote<\/p>\n<p>4. The closer the rate you are offered is to the \u2018real exchange rate\u2019 the better the deal. The wider the difference, the worse the deal<\/p>\n<p>5. Use a reputable <a href=\"http:\/\/www.mycurrencytransfer.com\/currency-converter\">currency converter tool<\/a> to check and benchmark the difference between \u2018sell rate\u2019 and the \u2018real rate\u2019<\/p>\n<p>6. Airports are the world\u2019s most expensive place to exchange currency. They typically add markups of over 10% away from the real rate of exchange<\/p>\n<p>7. Buying currency online for home delivery or airport pickup will always lead to preferential exchange rates<\/p>\n<p>8. If you are sending large amounts of money abroad, consider the use of a non-bank foreign exchange specialist. They can offer 85% cheaper quotes than your bank<\/p>\n<p>9. Don\u2019t fall for the trap of \u2018dynamic currency conversion\u2019 when paying for goods abroad. If they ask you whether you want to \u2018pay in local currency or your home currency\u2019 always select the local currency.<\/p>\n<p>10. Once you\u2019ve bought currency, don\u2019t fret over currency fluctuations and whether you could have held off longer or booked too soon. Not even the biggest currency analysts of top banks know with 100% accuracy which way the market is moving.<\/p>\n<p>Aviva Tabachnik is a keen personal finance writer &amp; partnerships executive at <a href=\"http:\/\/www.mycurrencytransfer.com\/\">MyCurrencyTransfer<\/a> \u2013 an OPP award winning foreign exchange comparison website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guest post by Aviva Tabachnik \u2013 Partnerships Executive at MyCurrencyTransfer<\/p>\n<p>I\u2019m delighted to have been invited by team Toshl to talk about a subject very close to my heart. Yes, currency is a little boring. Yes, it can be very annoying with lots of numbers and rates. However, I think it\u2019s also well worth sharing with the wonderful Toshl fan base a small finance tip that has saved me a fortune over the past 12 months. Namely, \u2018\u20180% commission slogans on currency are a myth.\u2019\u2019<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-754","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9HkH6-ca","jetpack_sharing_enabled":true,"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/posts\/754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/comments?post=754"}],"version-history":[{"count":3,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/posts\/754\/revisions"}],"predecessor-version":[{"id":757,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/posts\/754\/revisions\/757"}],"wp:attachment":[{"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/media?parent=754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/categories?post=754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/toshl.com\/blog\/wp-json\/wp\/v2\/tags?post=754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}