Whether you want to get foreign currencies for your travels, send some money back to your family overseas, or are trying to squeeze some profit via favorable conversion rates, you have to use exchange services. However, when you have to go to the physical exchanges, it makes the whole process much more complicated.
That’s why online exchange services have seen such a boom in recent years. When you convert your money via a good online exchange service, like US First Exchange, you save time and effort, get better rates, and lower the risk of your money getting stolen. Here are the top 7 ways how online exchange services can make your everyday life much easier.
1. Online Exchange Services Save You Time
The first benefit of using online exchange services is quite straightforward – it saves you a lot of time. When you don’t have to drive to the actual location but have everything at the tip of your fingertips, you can take the time to relax and enjoy yourself at home. You can simply skip time-consuming bank kiosks or airport exchanges and do your business from the comfort of your home.
Especially in big cities, physical exchange services are usually found in the busiest parts of town. The time it takes you to get there and back will take you a few hours at least, if not more. An online exchange service makes your life easy by having everything be just a click away.
2. You Don’t Have To Worry About Work Hours
While some exchange offices work 24/7, they are usually located at distant locations and can be hard to reach. The other, closer exchanges, usually have regular work hours, so you have to organize to get there in time. This can be especially hard if your work hours aren’t flexible. You’d likely have to take some time off work or go during the weekends, but who wants to spend their weekends going to an exchange office?
Plus, by the time you manage to get to the actual exchange, the rates may have changed and you may not want to buy or sell your desired currency anymore, making the whole trip worthless. Online exchange services allow you to see their rates in real-time, so you always know how worthwhile the exchange is. If you believe you’re not getting a good deal, you can always visit another online exchange any time of the day, without worrying whether they are open or not.
3. Getting the Money Home Is Much Safer
In an ideal world, you wouldn’t have to worry about getting your money home safely. Unfortunately, that’s not the world we live in, so you always have to keep your safety in mind. An online exchange service makes your life easier as you never have to carry a large sum of money on your person as you are moving around the town.
Once your transaction is complete, the money will be delivered to your address, and all you have to do is answer the door. The security of the delivery is up to the exchange office you use, and most good exchanges will give you insurance for your money, so you never have to worry about losing money to thieves or robbers.
4. It’s Easier to Find Competitive Rates
If you want to exchange money via online services, you have a much wider range of exchange services to choose from. You are not constrained by the physical locations, allowing you to find the best rates available. With better rates, especially if you are exchanging large sums, you can easily come out on top.
Naturally, the more money that ends up in your pocket, the easier your life will be. That is the beauty of doing your business via the internet – you don’t have to choose the exchange closest to you, or drive miles to find one with better rates. Additionally, because of the increased competition, the exchanges have to keep their rates competitive, which works out for you in the end.
5. An Online Exchange Service Is Easily Accessible
One of the biggest advantages of online exchange services is the same as the general advantage any other online service has – everything is easily accessible. All you need is an internet connection and a device that can connect to the internet, and you’re ready to go.
You can use your smartphone, laptop, tablet, or PC to access your preferred online exchange service at any time from anywhere. You’re going on a business trip? You have your work laptop with you. On vacation? Do it over your phone. Lying in bed at home? Use your tablet. When you use online services, you are always able to access whatever services you need.
6. You Can Find Rare Currencies
A big advantage of using online exchange services is the diversity of currencies you can find. Regular exchange services will surely have the standard currencies available, but how easy is it to find currencies from more exotic economies? Online exchange services usually have a larger number to choose from.
If they don’t, you can always find another one online within a few minutes of searching. Effectively, you can use the entire internet as one exchange service that has everything you need. Opposite to that, how likely is it that you will find a single physical exchange service that carries Indonesian rupiah, euros, Swiss francs, Serbian dinars, and Ghanaian cedi?
7. Real-Time Monitoring of Buy and Sell Rates
Using online exchange services allows you to monitor the currency rates in real-time. As markets are constantly in flux (especially in the current economic climate), exchange rates can significantly change within the hour. By the time you get to a bank kiosk and wait in line, the rates may have changed so much that you no longer want to buy or sell.
While you can monitor the rates of most traditional exchanges if they have a website, you can’t buy or sell at any time, as it still takes you time to get there and get to the front of the queue. Time is money and online exchange services allow you to buy or sell at the most opportune time as you can do it from anywhere whenever you feel like it.
Online Exchange Services Are Faster, Easier, and Give You More Options
There’s not much discussion to be had regarding an online exchange service vs traditional services. Simply, an online exchange service can make your everyday life much easier, if you find a good one. They are faster and easier to use, and you have many more options available to you, as everything is a simple click away.