Exchange of currency and barter system is as old as the human race civilization. And with so many countries and their own currencies, one definitely needs to change to the currency of the country they are traveling to as not every currency can be used as a legal document of exchange. That is why we need a money changer. Now one must be wondering what is it?
Themoney changer is actually an individual or any organization that lets you sell or buy or exchange the physical currency notes. One can say that it was a sort of predecessor for the modern banking system that we have today.
History of Money Changers–
The first prominent event of money changing could be traced back to ancient times when the pilgrims visiting Jewish temples in Jerusalem would change their Greek or Roman currencies to local Jewish or Tyrian money from the local money changerin Jerusalem to perform various sacrificial events in the temple.
During medieval times especially in Europe when most of the States started issuing their own coins and currencies, people traveling or merchants out on trade would exchange their money to visit the visiting country’s fair markets. The money changeracted as a clearing facility to them as they according to the currency deposited or exchanged would be evaluated on the type and wear and tear and then local money would be provided to these travelers to conduct a trade or deposit them after recording their value in its local currency.
The Mechanical Aspect
A lot of mechanical devices are also available now to exchange coins or currencies. These devices are of various types, like-
- A portable one that is usually carried by the professionals for manual fare collections where a single coin is released or dispensed when the customer pushes the lever.
- A mounted and fixed one at a manned booth or counter that can dispense several coins at a time.
- An automatic cashier that is usually used at banks or retail outs that dispense our exact amount of money or coins as needed by the customer and details entered by them through the hundreds of buttons available on these machines.
But mostly the term money changer is used for a qualified and licensed professional who exchanges different currencies.
Job Profile of Money Changers-
These people usually have a set basic job profile to be done by them. And it is always advisable to go for licensed money changers to exchange your currency. Let’s look at their job profile-
- They help in exchanging currencies at a much better rate than the automated or manual kiosks at the airports or banks or any other places. Hence they help you get the best possible rate for your currency to that of the local one.
- With them being involved one does not need to haggle through the rates of conversion and they also help in getting you the best conversion rate possible as they deal in live markets that are extremely conversion conscious and competitive.
- Another advantage of them offering the services is that most of the time offer home delivery or local deliveries. Now, this is really beneficial in saving time crunches. Also, most of them offer for the next day delivery or 24- hour delivery. This is a real time saver.
- A lot of the money changer also help their customers get the best deal in insurance especially travel insurance and international calling cards. This does save a lot of bucks.
The Afterthought to it!
Exchanging your currency to the local one at the best rate possible and in live markets without any hassle is definitely a much-needed service anyone would love to have especially if you are on a vacation. And this what these professionals help you achieve. So don’t shy away from them and seek their help with all arms open.