Who offered the best rate to change your money in different currency, the banks or Mastercard?

Answer 1

Usually you get the best rate by using your ATM/Debit card in your destination country and withdrawing from your bank account in the local currency. Mastercard has the worst rates--- there is a delay of up to 2 weeks in calculating the currency conversion (read the fine print--- it's in there) and they always go with the least favorable rate, plus depending on how you get the money (cash advance, credit card check, purchase) there may be some hefty fees tacked on.

I usually change a small amount at the local currency exchange, maybe $200 USD, so I can get through a couple of days with local money, then withdraw from the money machines as I need.