British tourists heading abroad this summer are being warned not to leave buying holiday money until they reach the airport, as experts say it could be one of the most expensive mistakes travellers make. Airport currency exchange desks are often designed for convenience rather than value, meaning holidaymakers who wait until the last minute could end up with far less foreign currency for their money.
Compare Rates Before You Fly
Instead, travellers are encouraged to compare exchange rates before they fly, as shopping around can often secure a much better deal. It's also worth checking whether a provider charges delivery fees, as a slightly lower exchange rate with free delivery could work out cheaper overall.
Experts say planning ahead can make a real difference to a holiday budget, particularly for families travelling during the busy summer season.
How Much Cash Do You Really Need?
Another tip is to think carefully about how much cash you'll actually need. While carrying large amounts isn't advisable, relying entirely on bank cards can also cause problems if your card is declined, blocked or a business only accepts cash.
Holidaymakers are also advised to avoid taking too many high-value banknotes. Smaller shops, cafés and taxi drivers may struggle to provide change, while having smaller notes can make paying for tips and everyday purchases much easier.
Avoid Credit Card Cash Advances
One mistake experts say is best avoided is buying foreign currency with a credit card. Many providers class these transactions as cash advances, which can trigger fees and interest charges from the day the purchase is made.
Alternatives to Cash
For those who prefer not to carry large amounts of cash, travel debit cards, prepaid travel cards and specialist travel credit cards can all be useful alternatives. Many offer competitive exchange rates and lower fees for spending abroad, although travellers should always check the terms before they leave.
By organising travel money before arriving at the airport, comparing exchange rates and carrying a sensible mix of cash and cards, holidaymakers can avoid unnecessary costs and make their spending money go further once they're overseas.
