1. Sometimes a bank can have better rates on ONE currency but not another, e.g. my bank, Nedbank [1], has better USD/ZAR rates but worse EUR/ZAR rates than Bidv

1. Sometimes a bank can have better rates on ONE currency but not another, e.g. my bank, Nedbank [1], has better USD/ZAR rates but worse EUR/ZAR rates than Bidvest [2]. 2. Depending on where you're from, some countries won't even grant you a visa unless you show them proof that you have sufficient foreign currency (e.g. Germany requires this of South Africans applying for a Schengen visa) 3. Specialist banks offer you additional benefits, e.g. Bidvest gave me 2 electronic bank cards to access funds in a separate, new, account when I travelled in Europe, which had 4 distinct advantages: * lose one card I have a spare (my local bank couldn't offer that, nor would AMEX) * my cards were not linked to my 'real' cheque account, protecting me in the event of theft and ensuring I had a backup plan if something really bad happened. * I could protect myself from currency fluctuations by choosing to hold an account in a currency of my choice, e.g. EUR; if the exchange rate got worse, I used the EUR card, if it got better I used my local bank's credit card * managing my budget was easier because I had allocated funds for the trip to my new travel account [1] http://www.nedbank.co.za/website/content/travel_check/forex_calculator.asp http://www.nedbank.co.za/website/content/travel_check/forex_... [2] http://www.bidvestbank.co.za/foreign-exchange/retail-rates.aspx http://www.bidvestbank.co.za/foreign-exchange/retail-rates.a...