Whether you’re heading for a week in the Spanish sun, a long weekend in Amsterdam or a cultural experience in Florence or Rome, 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 or local travel agent 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.
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. So, it’s vital that you shop around 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.
Make sure you compare the total number of euros you'll get for your cash from each provider and buy your foreign currency from the travel money company that gives you the most euros for the least cash.