When you travel abroad you invariably find yourself with leftover foreign currency. I always get money out of an ATM wherever I go. That way I’ll get a bank rate, and my bank doesn’t charge me currency conversion fees.
The best ways to get rid of leftover foreign currency are usually,
- Use it towards your final hotel bill, paying the balance with a credit card
- Add it to your Starbucks card before skipping town
- Refill gas in your rental car, paying with the cash you have left (and then refilling more using a credit card if you must)
Whatever you do, don’t use a money changing booth at the airport to buy foreign currency in the U.S. before your trip. And hoarding the leftover cash is fine if it’s for somewhere you travel to often and remember to bring it with you, but not useful for an occasional traveler.
It’s never occurred to me to sell foreign currency on eBay, and never occurred to me that you might sell it for more than it’s worth. But that appears to be a thing.
With retail businesses like restaurants and shops, that might once have been used to launder money, going out of business or seeing significantly less volume I wonder if this is a way to clean cash and exchange it for digital currency? How else to explain selling money for more than the face value of money? Some of these auctions come with free shipping, but others priced above face value even charge extra for that.
(HT: Marginal Revolution)
[…] want to have your money tied up in foreign cash. I say this as some people are apparently currently attempting to sell some of their leftover currency for above market value on eBay… but I can’t really see that being a viable […]