When we go on holiday one of the first things that we need to remember is that we cant use our own currency abroad. Well, this might not be the case if you are in the Eurozone, but for everyone else, we need to change our money! Recent news stories have talked of banks ripping off customers looking to exchange foreign currency with huge commissions. This means that finding the best foreign exchange rates is really important, and can mean the difference between having a great time or trying to manage our money to the last little coin towards the end of holiday. If you are going on a longer traveling expedition, it is even more important that you get the best foreign money exchange rates, as going in between a wide variety of countries leads to a big range of currencies! With that in mind, finding the top 5 places to gain great foreign money exchange offers is really important. It can mean the difference between a slap up lunch, or a bag of crisps at the airport, so pay attention!
1. The Post Office
The Post Office may not guarantee you the best exchange rates, but for foreign money exchange ease there is nothing much easier. You can pop into your local Post Office and usually have your pick of foreign currency. With Post Offices in most towns, and even in small villages, for last minute currency changes, or even just for simplicity the Post Office is a great location for foreign currency exchange. The Post Office also offer 0% commission on all foreign currency that you sell back to them, as long as you purchased it with them.
2. Marks and Spencer
Marks and Spencer offer a really efficient Bureau de Change that is extremely popular. They usually stock all of the world’s major currencies, and have many currencies that are harder to buy. The exchange rates that Marks and Spencer offer are in line with the majority of high street money exchange locations, and give you the opportunity to buy from a trustworthy source. Marks and Spencer also offer 0% commission on all foreign currency that you sell back to them.
3. Travelex Currency Card
Arguably one of the best ways to travel with foreign currency. Travelex offer currency cards or ‘Cash Passports’ for seven different currencies. The currencies on offer are: British Pounds, Euros, US Dollars, Australian Dollars, New Zealand Dollars, Canadian Dollars and South African Rand. With the card being chip and pin protected, and offering free ATM withdrawals, you can be rest assured that you are getting a great deal. Travelex offer great foreign money exchange rates, and their ‘Cash Passports’ offer security that cash in your pocket cannot give you. They even text you when you’re running out of money!
4. Norwich and Peterborough Gold Account
For people traveling regularly, but not wanting to continue to exchange money, Norwich and Peterborough’s Gold Account is a great option. They offer 0% on all foreign currency withdrawals meaning you do not get charged for using your card abroad. This means that you can gain access to your own accounts at any time, and have no concerns over having a huge amount of cash on your person. Obviously this means that if exchange rates change dramatically you may end up with a worse conversion than before you left for holiday, but using your card is a great way to manage your holiday funds. Remember you will have to apply for this account before you go on your trip though!
5. www.onlinefx.com
Onlinefx is an easy way to buy foreign exchange money online. With free delivery for any orders over £350 you can be sure that you get your currency quickly and efficiently. Their exchange rates are some of the best around, and as they work from the forex world centre of London you know that they are really on the ball. Whilst this is a deal that is not person-to-person, onlinefx are a well renowned company, and have offers on frequently. Keep an eye on this website if you want to get a great offer on foreign exchange money before you go on holiday. You might just get a real forex bargain!
There are many more places where you can purchase foreign exchange currency, but these 5 places guarantee great deals and a great service. With the current stories in the news of banks taking huge commissions on their foreign exchange deals, finding different alternatives is extremely important. Having that little extra cash when you are abroad can be a real help, so try and use one of these locations.