Compare travel money

Compare travel money deals

What is travel money?

Travel money refers to a foreign currency that you buy for use while you are abroad, for instance when you're on holiday.

When you are organising travel money, one thing that you need to focus on is the exchange rate. This is the amount of one currency that you can buy with another currency. For travel money, you will often be exchanging pounds for euros or dollars, but you can buy any currency that you need.

Exchange rates are usually given as a fraction – for example, a pound to euro rate of 1.18 would mean that you would get 1.18€ for every £1.

The table on this page will help you compare exchange rates and the cost of having your travel money delivered. It also lets you review any order limits or eligibility criteria.

How can I get the best holiday money exchange rate?

You need to compare as many offers as possible when searching for the best currency exchange rate. Providers update their holiday money exchange rates and fees all the time to remain competitive, so you need to shop around.

Ordering your travel money online is a good idea when looking for the best deal. Whatever you do, avoid getting your travel money at the airport. Airport holiday money providers have notoriously high prices because they offer a last-chance solution for those who are just about to board a plane! By planning ahead you can save a small fortune.

The currency exchange comparison table at the top of this page helps you compare travel money offers to find the best euro travel money rate or dollar exchange rate.

When comparing travel money deals, it's important to pay attention to the following factors:

Comparing offers in this way should allow you to find the best travel money exchange rate online before you go on holiday. You can find out more about travel money, best rates and other costs here.

Remember, exchange rates are constantly changing. You might get different rates from different providers on different days.

Can you get commission-free travel currency?

Yes and no. It depends on how you define it. Commission refers to the service fee that a currency exchange broker charges for exchanging your money. Many companies advertise 0% commission to exchange money online or on the high street, but they are still charging you for their service (otherwise they would go out of business). However, instead of charging commission, they offer a less competitive exchange rate. This is why you need to compare the complete deal rather than just opting for a zero-fee travel money deal.

Can you buy currency online?

Yes, you can buy most currencies online, including euros and dollars. But the total you're allowed to exchange depends on the travel money provider. You can usually buy up to £7,500 worth of foreign currency with the best online holiday money brokers.

It's standard practice to order a round number of the destination currency so that it can be issued in notes alone. So if the pound-to-euro exchange rate was 1.18, you would need to pay £423.60 to get 500€, as opposed to £420 to get 495.24€.

There are some currencies that can only be withdrawn when you're in the country you're travelling to. These are called closed currencies and you won't see them listed on travel money exchange sites.

Are there restrictions on getting currency delivered?

When you buy your currency online, it's normally sent via Royal Mail's Special Delivery service. This means you have to sign for the package.

Cash orders that exceed £2,500 will be sent in batches because that's the maximum value that can be insured for each delivery.

Can you get next-day delivery for currency?

Some travel money providers do offer next-day delivery. These brokers send out currency using Royal Mail's Special Delivery Guaranteed by 1pm service.

Our comparison shows which operators offer this option and how much they charge for it. With some companies, you also have the option to pre-order your travel money for collection in person from a local branch, meaning you don't have to pay for delivery.

What are the codes for different foreign currencies?

Travel money providers usually have a three-letter code for each currency.

Some of the most popular ones for UK travellers include:

Exchange rates are usually presented in pairs, such as "GBP/EUR" for pound-to-euro or "GBP/USD" for pound to US dollar. The pair shows how much of the second currency you need to spend to buy one unit of the first currency. For example, if you see GBP/EUR 1.18 it means it takes 1.18€ to buy £1. If the letter codes are the other way around, it shows how many pounds it costs to buy 1€.

Deciding how much holiday money to take

How much travel money you need to take depends on your plans. You'll need to budget for your holiday to make sure you don't run out of money before the end.

Think about:

Some countries charge a tourist tax and others charge an entry fee or visa to enter. It's important to be aware of these before you travel.

Travel money cards and other options

You might find that after you compare currency exchange rates, you decide that taking cash abroad isn't right for you.

You might like to think about how else you could pay for things while you're away. Some people like to take a little cash, and do the rest of their spending a different way.

Your options include:

Try to do your research on the best way for you to spend on holiday. The costs to you can vary a lot depending on which option is the best at the time. It can also vary a lot depending on exchange rates.

What are the benefits and downsides of taking cash as your holiday money?

As with anything, there are advantages and disadvantages to taking cash on holiday.

Last updated: 15 July 2022