How to get the best holiday money deals.

Compare travel money providers

There is a wide offer of foreign exchange operators in the market. Choosing the right provider is easy by using Beep Money comparison tables.

Our first reccomendation when buying currency is to know where to purchase and the definitive no-go are airport bureaux. Exchange rates can be exorbitant and most of them charge commission on the transaction.

You may opt to visit the local post office, your local bank or a high street bureau de change, and probably chances are they will offer commission free travel money but what it really matters is the currency rate, more even than the well advertise FREE Commission. And this is something you should look for to not be out of pocket.

For instance compare a bank, a travel agent and a bureau de change when you exchange £450:

Compare travel money providers

So even though, the bureau charges you a commission their rate is far better than the bank giving you more buck for your pounds and you can take extra $40 on your holiday.

Perhaps your best bet is doing it online. Rates are far more competitive, you still get zero (0%) commission and delivery is usually free on foreign notes and travellers cheques.

Remember

When purchasing your cash focus your search on three areas:

1. Exchange rates, check daily changes as they move constantly.

2. Commission, is it a free, a fixed fee or a percentage of the transaction..

3. Handling and delivery charges (if ordered online).

Other options

Prepaid foreign currency cards

Prepaid debit cards

If cash is not for you and you are worried about those travelers cheques getting wet, consider the plastic. Prepaid currency cards use chip and pin technologies, are free to purchase and you can control your budget easily. Beware there may be ATM charges so check the small print before you purchase. Also, rates are not as favorable as foreign notes or travelers cheques, but they are convenient and the safest way to carry cash abroad.

All credit cards and most debit cards will charge a fee, usually 2%-2.5%, on foreign exchange transactions. Some debit cards do offer free exchange transactions - for example Natwest, HSBC, RBS, Halifax and Nationwide which well known for being, the only card provider which won’t charge you for making withdrawals abroad.