We all need foreign currency when we travel, but did you know it's cheaper to buy in the UK despite the fact you will have to pay commission and/or a lower rate of exchange to the broker! Why? Because once you are abroad, if you want foreign currency you're a bit of a sitting duck in a bank or brokers eyes that's why!
There are plenty of options for you to put foreign currency in your hands, from travellers cheques to credit card transactions at a bank through to, of course, hard cash. The best rate is buying cash in the UK before you leave - but this not always convenient nor is it the safest way to carry enough money for your holiday. What about buying your foreign currency online?
Buying foreign currency online
"Is it safe?" This is one of the first questions that you are probably thinking about. Yes it is if you are using approved and well-trusted brands like Travelex.
The next question is usually "How do I get the money?". With Travelex you can pick it up at the airport from the foreign exchange bureau or shortly to make it even simpler, Travelex will start delivering to your home before you go on holiday. What could be simpler?
Where can I find the best rates?
This varies - invariably it is somewhere like the Post Office or through an online broker like Travelex - what we can tell you is that hidden charges abroad means taking cash out on your credit card is not the cheapest option. Likewise, using your debit card can also rack up the charges too!
The simplest way to avoid charges is cash unfortunately - or a special debit card from some banks that doesn't charge a fee for cash withdrawals or purchases.
Current foreign currency rates
They fluctuate all day - so for just some of the latest foreign currency rates, check our quick view table right - if you buy online through Travelex you can be assured of getting the rate at which you buy at, so definitely worth considering.