By comparing the rates from a number of providers, you can find the lowest fee.īe aware though that the provider with the lowest fee might not always be offering the best exchange rate! This is where online comparison can really help. Travel money providers charge a fee for converting currency. Travel money feesĪs well as the exchange rate, you will need to consider fees when choosing a travel money provider. However, generally, better deals are found with online providers. Most high street banks and Post Offices offer currency exchange. The captive market can mean providers get away with much lower rates! Online or high street travel money? This is why you might be advised to steer clear of buying your currency at the airport. Money exchange companies located in or near popular tourist attractions tend to offer lower exchange rates. The amount of currency you will get for your pound will vary depending on which provider you buy it from, where you buy it – either online or on the high street, and even the physical location of the provider. Many factors affect the exchange rate on any given day. ![]() Dollars are used in the USA, Canada and Australia, to name a few, and each will have a different rate! How to get the best exchange rate on holiday currency? Make sure you are searching for the correct exchange rate though, as more than one country uses the currency of the same name. Travel money is available in every currency. If you are travelling to a country which uses the euro, you’ll need to look for the GBP/EUR exchange rate to work out how much currency you will be able to buy. Most countries in Europe use the euro currency, although there are a few exceptions. UK currency is often referred to as GBP (Great Britain Pounds) for the purpose of currency exchange. If you are leaving the UK, you will need to exchange your pounds for the currency used in your destination. This is why it’s important to shop around and compare travel money quotes from a range of providers to be sure you are getting the most for your money. It can vary from day to day, and even from hour to hour. When comparing holiday money providers, look for the exchange rate which gives the highest pound-to-euro or pound-to-dollar rates. A rate of 1.2 would mean that for every pound, you would get 1.20 euros. For example, an exchange rate of 1 would mean that for every one pound sterling, you would get one euro. The exchange rate is the way to calculate how much of one currency you will get in exchange for your own money. The process of comparing travel money rates can be confusing for some, so here are the main things to keep in mind. ![]() Making sure you find the best exchange rate should be a priority when planning any trip abroad. ![]() Whether it’s Euros, Dollars or any other travel currency, knowing that you have your holiday spending money in place before you travel can give you great peace of mind. Getting travel money sorted out is an essential part of any trip.
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