Banks or exchange offices: where to exchange money

You cannot buy currency at the official rate. Every bank and every exchange office sets two rates of its own: the buy rate, at which it buys foreign currency from you, and the higher sell rate, at which it sells it to you. The gap between the two, the spread, is what the provider earns.

Exchange offices often keep a narrower spread for cash in the popular currencies, which is why many people prefer them for dollars and euros. Banks can be the better choice in their mobile apps, for large amounts or for less common currencies. The difference between providers is usually a few tetri per unit — small on 100 dollars, noticeable on 10,000.

Before you exchange: compare the rates here, check the rate on the board at the counter, ask whether a commission is charged, count the money and keep the receipt.