Whether you're putting your tourist hat on and heading for a week-long holiday in the Spanish sun or a business trip to Prague, you'll need euros for your trip.

Why you should shop around for the best exchange rate for euros

Just as you wouldn't buy car insurance without comparing quotes you shouldn't buy travel money without comparing the pound to euro exchange rate.

Buying your travel money from your own bank, local travel agent or any place that exchanges foreign currency could mean that you don't get the best euro exchange rate today. And, not only could you end up getting far fewer euros for your pound than you should, but you may also end up paying too much in commission and charges.

Due to this, the best way to buy cheap travel money is by comparing as many providers rates as possible before you travel.

What to look for when you're searching for the best euro exchange rates

The difference in the cost of buying euros between the least expensive and the most expensive travel money company can be huge. Shop around by looking online or on the high street to find the cheapest deal you can in the UK before buying your currency.

There are two main things that you should consider when you're searching for the best euro exchange rates:

  • The pound euro exchange rate

  • Any commission, fees and charges

The best exchange rate for euros should be one of your main priorities when searching for the leading travel money provider. And, as exchange rates change all the time it's vital that you regularly check rates before buying.

This is especially true if you are buying a large amount of euros. Even small differences in the pound euro exchange rate can make a significant difference in the amount of foreign currency you get for your cash.

In addition, it's also important to take any fees or commissions into account.

Some travel money providers charge a commission when you exchange cash while others charge fees for delivery (if you order online) or make a 'buy back' charge to guarantee that they'll buy back any unused currency when you return.

While you may assume that the deal that offers the best exchange rates for euros may be preferable, this may not be the case if that company charges a high commission. You may be better off on a commission free deal with a slightly inferior exchange rate.

What to do with leftover euros?

Returning from holiday with unused euros means you will either need to keep them safe for your next trip to Europe, or change them back into pound sterling.

If you bought your euros from a provider that offered a 'buy back' offer, you can exchange your euros back into pounds at the same rate you bought them for. This means that you do not lose money by selling your euros.

Alternatively, you can sell euros to friends or family members who are planning on taking a trip to Europe. Doing this could be a cheaper way of getting euros for them, and a simple and cost effective way for you to get rid of your leftover euros.