The recent turbulent times for the British Pound have highlighted how important it is to get the best possible foreign exchange rate when travelling. You will probably no doubt have already read the article I wrote about the Revolut card, which I find the easiest and cheapest method of dealing with foreign currencies but if you are more traditional and prefer travelling with cash rather than using a card, then it pays to shop around. Fortunately our friends at MoneySavingExpert.com have a great website / app called Travel Money Max which allows you to compare all the various exchange rates.
To give you an example of how they compare, these are the amounts in Euro you would get for £500 as of 16.45 on 18th October 2016 from a selection of providers:
- Revolut card – €559.90 (for comparison only)
- Telegraph Travel (delivered) – €549.00
- Moneycorp (collection) – €549.00
- Tesco (collection) – €543.15
- Travelex (Airport collection) – €541.20
- M&S (collection) – €533.20
- Airport (not pre-booking) – €485.50
Now that’s a huge difference of €63.50. See how it pays to plan ahead.
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