Counting the cost of holiday cash
You can get ten per cent more holiday money by choosing to buy your foreign currency on the high street rather than in the airport.
That is according to new figures from Which? Money, showing buying ?500 from the high street costs £35 less than using a bureau de change in an airport.
"Don't leave changing your holiday money until the last minute - check if your own bank offers preferential rates, and shop around to get the best deal on the high street or online," said Martyn Hocking, Which? Money editor.
"Check the charges on your cards too, and if you're going on a long holiday speak to your bank before you go - if it sees a spate of foreign transactions it might query them or even block your card."
Which? went to ten high street providers, banks, and airport bureaux to buy ?500. The cheapest was M&S at £351 with an airport bureau the most expensive at £386.
As well as a large difference in the cost of foreign currency based on who you change cash with, there is a big difference in the cost of cash depending on what card you use when overseas.
The vast majority of credit and debit cards add a foreign exchange loading fee to the exchange rate when using a card in an overseas cash machine.
Additionally, increasing numbers of cards also charge a flat fee on purchases.
There are some exceptions, however, with Liverpool Victoria, Nationwide, the Post Office and Saga all offering fee-free cash withdrawals within Europe, with the Nationwide FlexAccount not imposing any fees at all on cash withdrawals abroad.
- Tags:
- credit cards ,
- football credit cards ,
- news ,
- use abroad
Comments
Newsletter sign up