The Best Exchange Rates – Top Ten Tips

You put on ten pounds, give your liver a beating, and go deep into the dark cavity of your overdraft. But it’s okay because you’re on holiday. You splash out on new designer gear at the airport and buy perfume/aftershave that you don’t need. But it’s okay because you’re still technically on holiday. We all over indulge when we are travelling. It’s natural to let go once in a while and the I’m-on-vacation card gives you the right to. We all find it incredibly hard to keep track of our spending, so make sure you get the best exchange rates to begin with.

Finding the best exchange rates requires a little bit of research and a little bit of dedication. As much as we’d all like to be spontaneous in search of a foreign adventure, it’s not always wise to catch a midnight train going anywhere, like the song lyrics of Journey. But planned travels can be just as enjoyable, if not more. Get your holiday off to a good start and choose the best exchange rates by following the following tips.

Find the best exchange rates and make your holiday money go further:

1. Don’t be fooled by 'commission-free' – commission free isn’t always the cheapest because an exchange bureaux will make its money in two ways (commission fees and exchange rates). If you aren’t being offered the best exchange rates then the free commission may not be worth it. Calculate total costs before you make a decision.

2. Avoid airport foreign exchange – airports charge high rates and fees because they are appealing to many last minute holiday makers. This is one of the worst places to get your foreign currency. For the best foreign exchange rates, compare online, as the web can offer the most competitive prices.

3. Watch out for hidden credit card fees – these days, credit and debit cards can offer some great rates when you use your plastic abroad. Of course, this depends entirely on your bank and what they offer. Always read the small print and research into how you will be charged as ATM machines can have a lot of hidden charges. Generally debit cards are much better for cash withdrawal abroad because credit cards could charge a loading fee, even when you pay your statements on time.

4. Choose the pound on the plane – if you’re a keen traveller, you’ll have noticed that on-flight payments for food and drink can be made either in sterling or in the currency of your holiday destination. If you’ve just been on holiday and you have leftover currency, it probably seems like a wise idea to use it on the flight back. But this will work out to be very expensive because airlines will charge an exchange fee, so try and use sterling if possible.

The Best Exchange Rates across the Web

Crown Currency Exchange offers the most competitive rates on foreign currency. Contact them now for more information – call 0800 612 7273 today.

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