Don’t Get Stung by Currency Exchange at the Airport



Don’t Get Stung by Currency Exchange at the Airport

With summer fast approaching, whether you are looking to buy a property or holiday in France, we are all starting to plan our trips abroad, and anyone leaving it too late to change their currency could end up losing hundreds by exchanging at the airport.

We took a look at rates offered across UK airports and found they are offering an average of just €0.97 a pound. Whereas the exchange rate currently sits at £1 = €1.16.

One airport even offered as little as €0.77 to the pound, which is 35% less than its live value.

It is important to remember airports will take a large chunk from all foreign exchange companies for every exchange they make. So often it’s the airport which should be blamed, rather than the exchange company.

So, what are the tricks of the trade? How can one get the most for their money? We spoke with our currency partner moneycorp to see the best ways to exchange for a trip:

1- Pre order your currency online. Most companies including moneycorp will offer the option to pre-order your currency, meaning you can skip the airport fees and exchange at a preferential rate well in advance.

2- Get a travel card. moneycorp offer their clients what they call an “explorer card”, when pre-loaded with currency, this allows you to travel aboard and not carry any cash. They even have an app so you can top up at any time, using once again at a much better rate.

3- Always use a foreign exchange specialist. Regardless of the size of your exchange, using a currency exchange specialist will help you save money compared to using the high street bank. Using your bank card abroad will cost you on both the exchange rate and the commission fees.

4- Using an expert like moneycorp will also allow you to benefit from all their special discounts and offers on hotels, rental cars and experiences!

Regardless of if you’re looking to buy or holiday in France, always think and plan ahead, to make sure you save some money!

If you would like to open a free account through our partner moneycorp, or get some more information from the experts themselves, please fill in the form below, and we’ll get in touch!

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