Currency experts reveal ONE TRICK that could save you hundreds on your holiday cash
Summer holidays are usually stressful to organise and getting the best deal on your travel money is no different. There are many places to get your GBP changed up and they all offer different rates which can be confusing.
But there is one trick you can do to make sure you get the best rate possible and that you’re never out of pocket.
Most people don’t realise that currency exchange bureaus also offer an online service. Often these online rates are much better than the rates you will find on the high street with differences sometimes running into hundreds of pounds. Paul Brewer, CEO of Currency Online Group explained:
“Lots of currency exchanges don’t advertise their online rates in store because they make a much higher profit by selling at worse rates to customers who just walk in with the common example being at airports. One way for customers looking to get the best deal possible for their travel cash is to find the online rate first, make an order and then simply collect in store.”
If you are short of time before your trip, then you don’t have to take the first rate you see. Lots of holiday makers wait until they get to the airport to exchange their money. That is a big mistake as rates are significantly lower, but Paul advises you to negotiate hard:
“If you are time pressed and need to get some travel cash urgently, you can always go in store and negotiate. If they want your business, they probably won’t give you their online rate they will often move close to it giving you more euros or dollars to spend on holiday”.
Booking online with Currency Online Group and collecting in store at Waterloo, €1,500 would cost £1310.62 at a rate of 1.144. In contrast, if you turned up to Heathrow today and used a Travelex store without booking the same €1,500 would set you back £1551.19 at a rate of 0.967.