https://padlet.com/100754619/w9p0mhuijojg By: Amarjot Sanghera (100754619) en-us 2020-03-31 03:19:05 UTC 2024-05-17 17:15:51 UTC hello@padlet.com 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483484920 Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees]]> 2020-03-31 03:11:37 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483484920 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483490315 Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees]]> 2020-03-31 03:20:12 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483490315 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483490509 Video #1
This video talks about handeling currency. Plan ahead and exchange cash before you leave. When withdrawing foreign currency using your debit or credit card may charge extra fees. Some countries accept US currency. Travel money cards is an easy and convenient way you exchange money from your bank account into any currency and not have to carry cash. If your going to a country on a work permit you can open a bank account there. ]]> 2020-03-31 03:20:31 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483490509 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483490716 Banks exchange currencies but tend to have lager fees. Airports and hotels are convenient ways to exchange currency but the exchange are not good around 10% more and have very high fees. Triple A members can order currency online throght travelex.com from where the money is avalible fast and low fees]]> 2020-03-31 03:20:47 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483490716 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483491420 This video she talks about handling currency. Plan ahead and exchange cash before you leave. When withdrawing foreign currency using your debit or credit card may charge extra fees. Some countries accept US currency. Travel money cards is an easy and convenient way you exchange money from your bank account into any currency and not have to carry cash. If your going to a country on a work permit you can open a bank account there. 

I chose this video because it talks about exchanging and withdrawing cash. I found the information she gave about travel money cards useful because I had never heard of  them before this and it's an easy and convenient way you exchange money.]]> 2020-03-31 03:21:54 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483491420 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483491842 In this video he says banks will exchange currency but they may charge a larger fee and they may also have a minimum required amount to exchange your currency. Also airport and hotels are a convenient way to exchange currency but exchange rates are typically 10% higher and they will charge a higher fees.

I chose this video because he talks about great ways to exchange your currency. I found the information given about airports and hotels charge 10% higher exchange rates.

]]> 2020-03-31 03:22:42 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483491842 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483522721 Canadian vs American dollar. American is usually worth more but in November 2007 the Canadian dollar was sightly higher than the US dollar but on January 16th 2016 the Canadian dollar got to the lowest its been in recent history at which it was traded at $1.46 CAD for $1 USD. The American dollar is made of 75% cotton and 25% linen and Canadian bills are made out of synthetic polymer (plastic) which is more expensive to make but it was converted due to courier fitting and lasts longer. 

I chose this video video because CAD is compered to USD frequently. I found American dollars is made of 75% cotton and 25% linen and CAD was worth more than USD.]]> 2020-03-31 04:14:38 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483522721 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/483522907 When travel she suggests to use credit cards if you have low or no foreign exchange fees because they are more convenient and track your spending easily. Visa and master cards are the best options because they are more widely accepted. Currency exchange agencies may charge a lower fees for exchanging currency but may charge all sorts of transactions fees. Using debit card could have foreign fees but when  you withdraw money money from ATM's which are not associated with your bank there is an additional fee. 

I chose this video because she talks about currency exchange agencies may charge a lower fees for exchanging currency but may charge all sorts of transactions fees which I didn't know about.]]> 2020-03-31 04:14:58 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/483522907 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/485626555 You don't need to take a lot of the currency with you because it's usually expensive to buy and you only need enough with you to last the first day. Avoid ATM fees by using bank accounts that charge no withdrawal fees internationally and withdraw large amounts of cash when using an ATM so you don"t have to keep paying the fees. Don"t use currency exchange booth because they have inflated exchange rates so make sure you keep tack of the exchange rate. Using a credit card with low or no foreign transaction fee, extra perks, travel points. Tell your bank you are going to travel. Use online money apps to hold extra money just in case you run out.

I chose this website because it talks about great ways to manage your money while traveling. II learned that using a credit card is one of the best options beacuse travel credit cards have low or no foreign transaction fee.]]> 2020-04-01 01:03:23 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/485626555 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/486320937 Foreign exchange known as forex trading is known to be an easy way to acquire huge gains but risky. It is not for someone who doesn't know much about the market. Only 7 currencies make up 80% of the forex market, the Canadian dollar is the fifth most traded & reserved in the market. The forex market is influenced by the countries economies. Canada was ranked 10th highest GDP in the world in 2017. Canada exports petroleum, minerals, wood products and grains which influences investors to invest in the Canadian dollar. Canada and the US are each other biggest trading partners making up over half of imports and export for each country. Canada has a healthy economy with some of the highest interest rates compared to the other developed economies. Currency rates are very difficult but the countries that have stable economies are more reliable so counties like Canada are important for the forex market.]]> 2020-04-01 10:43:10 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/486320937 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/487972678 Use your debit and credit card when possible but be cautious when using ATM's when traveling due to possible high fees, make sure to call your bank and let them know where your'e traveling to avoid account from being frozen and to find out if your bank cards will work where you are going. You should order money before hand.
 
I chose this website because it talks about informing your bank that you are traveling so your bank doesn't freeze your account which I didn't know would hapen.]]> 2020-04-02 02:55:58 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/487972678 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488004299 1. What did you learn about your topic that surprised you the most?

I found all the varying exchange rates and fees very surprising. I didn't know there were so many different ways to exchange currency and so many varying prices. I amused the exchange rate you find on goggle is what you would exchange your money for to the other currency.]]> 2020-04-02 03:46:20 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488004299 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488004887 2. Provide a real-life example of how this topic is relevant or interesting for you.

I had a vacation planned for this summer which is now canceled due to the pandemic but thought this would be a great way to educate myself on exchanging currencies and handling money when traveling for any future trips out of Canada.]]> 2020-04-02 03:47:22 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488004887 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488005289 3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I would tell my family and friends about about the travel money cards because they are great way to limit your spending, a much faster, convenient way to pay for things compared to cash that can cause confusion due to using a new currency and potential of losing the cash.]]> 2020-04-02 03:48:05 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488005289 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488585216 I chose this picture because it shows small amounts of different currencies, when traveling you should only take a small amount of cash with you. There are also some other items which are needed for travel such as the passport and map.]]> 2020-04-02 10:39:28 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488585216 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488585624 I chose this picture because it shows the forex market. The forex market is what determines exchanges rates depending on the shifts in the economies of counties changing due to many different factors.]]> 2020-04-02 10:39:42 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488585624 100754619 https://padlet.com/100754619/w9p0mhuijojg/wish/488823440 Travel cards are a great way to stay on budget because there is a limited amount of money on them, compared to a it is much lower limit and you chose how much to put on it. Prepaid cards are now becoming more used and are good in some situations. The website then list the six prepaid cards they believe that are the best. The pros, cons, fees and where the cards are best used. 

I chose this website because it is a great place to find what travel card you need that fits your needs.]]> 2020-04-02 12:52:40 UTC https://padlet.com/100754619/w9p0mhuijojg/wish/488823440