Money Conversion
 

We are travleing to Hong Kong, Beijing and Taiwan next month. Looking for inof as to whether we should convert money before we leave or do it once we go to the different stops. If we conevert in Asia will we get better conversion rates using are ATM versus converting US dollars? Thanks!

ATM is almost always the best all around and way easier..

about the worst is to convert at home

Buying foreign money at home is the most expensive way to go.

I use ATMs, but my bank doesn't charge me for use of foreign ATMs and refunds any charges by the ATM I use as well as charging only a 1% premium on foreign exchange. If your bank charges $5 per use at a foreign ATM and a 3% premium on foreign exchange (most big banks in the US do), the ATM will no longer be the best deal, even thought the exchange rate you get through an ATM is typically better than at an exchange counter. So check with your bank about their charges. Credit Unions and Brokerages tend to have the best deals on foreign ATM usage.

Even with the ATM fees, it's still going to be one of the cheapest and easiest ways to get cash. And check with your bank to see if they have partners. For example, I use Bank of America in the US, and can get HK$ from China Construction Bank ATMs using BoA card in HK with zero fees and zero exchange rate surcharge.