We show you how to find the best currency exchange rate for your travel money using an online currency exchange comparison table.
Wherever you journey to, Europe or worldwide, it’s vital to carry at least some cash with you - and preferably in the local currency.
At the very least foreign currency can give you a fallback option and emergency funds if your other payment methods encounter problems. Additionally, getting a great deal on your international currency exchange could make your holiday cheaper overall by paying for more in cash.
Where can you get the best foreign currency exchange rate today?
The first thing you should do is search for the providers that are able to offer the local currency used in your holiday destination, and exclude any that can’t.
Then, the key to getting the best travel currency exchange rates is to compare currency exchange deals against your holiday spending budget in £ pounds sterling (including emergency funds).
Once you’ve set your budget for the currency exchange compare that figure to the minimum and/or maximum order limits imposed by each forex provider. Some providers offer better exchange rates for orders above a certain threshold, so check if your order would qualify.
Consider your timeframe for receiving the travel money. If you’ll need it sooner rather than later, it might be worth excluding any companies that can’t offer next day delivery or opting for those that will allow you to collect it from the airport or a store.
Irrespective of whether or not you need your travel money within days or weeks you should always compare the delivery services on offer and check if there are minimum order limits to qualify for free delivery. Where your order isn’t eligible, note the delivery charge and bear in mind it will eat into that deal’s exchange rate.
Finally, you should decide how important a buy back guarantee is for your order. This would effectively guarantee the exchange rate you’ll receive for selling any unused currency back to the provider at the end of your trip.
Some forex providers don’t offer buy back guarantees, others offer it free of charge, and others still impose minimum order criteria – so check where your order stands with each provider before you apply to exchange currency with them.
If you keep your budget in mind and compare it against the forex service offered by each company, you can find the best place to exchange currency for your travel money, and the best rates for a global currency exchange UK wide.