Foreign exchange
HOW TO GET THE BEST FOREIGN EXCHANGE RATES
Many people leave buying their foreign currency until the very last minute when going on holiday, but putting it off until you get to the airport could be a costly mistake. Seeking out the best deals has seldom been more important, particularly when many of us are under financial pressue due to the credit crunch, and especially for anyone heading to Europe, with sterling having recently touched record lows against the euro. Online foreign exchange providers usually offer the best value for money when it comes to buying foreign currency, simply because they tend to have lower overheads.
Before leaving find out about local tariffs in advance of your trip and work out the best way to carry cash. Check that ATMs are available at your destination (and the charge for using them) and if not, a mix of local currency, traveller's cheques (get bank hours for cashing them) and credit cards (check they will be accepted) is a good idea.
Familiarise yourself with the exchange rate, too, so that you are ready to spot high prices or bad rates as soon as you arrive. Make sure you check out local money specifics. For example, in Cuba you'll need to hold on to pesos to pay a departure tax at the applicable rate, and credit cards are not accepted!
Useful links:
Thomas Exchange Global may not be one of the best known names, but it often provides good deals. You can collect the currency from either of their two branches in Victoria or the Strand in London, but if you are unable to do this, then you need to factor in a £5 delivery cost.
www.thomasexchangeglobal.co.uk
Travelex.co.uk is also competitive, and the money can be collected from any of its branches which are at nearly every major airport and ferry port, free of charge
The Post Office's websiteprovides free home delivery for orders over £500, or you can arrange to collect the currency from your nearest branch.