Some info on currency.....
Exchange rate woes - should you buy dollars/euros now?
The pound's wobbling after the election so here are MARTIN'S 5 TIPS EVERY HOLIDAYMAKER SHOULD KNOW
Post-election uncertainty's made the already fragile pound even weaker. £1 even at the best rates buys just €1.14 or $1.28 - when we all remember pre-Brexit €1.30s and $1.50s. If you're heading abroad this summer things are going to be expensive, so it's important to maximise every penny. Here's how...
If you're nervous, hedge your bets. Currency moves are complex. Anyone who says they know what'll happen is a liar. I certainly don't. If you're worried, buy roughly half at today's best rate, locking that in, and the rest at the best rate when you travel (best ways to do each below). If you're really nervous, ask yourself, "Would I be content with today's rate?" If so and your real fear is rates plummeting, making your holiday unaffordable, play safe and buy more now.
Get near-perfect rates EVERY time you spend, on every trip. Personally I just spend on my specialist overseas credit card which gives top rates as I spend. As these cards don't add the usual 3% 'non-sterling exchange fee' you get the same near-perfect rates banks get. Just ensure you repay IN FULL each month.
There are around 10 of these cards, so use our Travel Credit Cards Eligibility Calc to see which (if any) is most likely to accept you. If I had to pick one, it'd be Halifax Clarity* which gives near-perfect rates and has low ATM costs. Plus, apply now and spend abroad on it by the end of Sep and you get £20 cashback (it's 18.9% rep APR on spending - unless repaid in full - and cash). Full help and options in Top Travel Cards.
Alternatively, anyone can get Monzo's* prepaid card as it doesn't credit-check (though it will ID-check). Unusually, the card has no fees and gives you near-perfect rates (likely as a loss leader). You have to operate it via an app though, and usually there's a waiting list, but our link cuts the queue.
Top prepaid cards let you lock in today's rate. Unlike credit cards which require you to pass a credit check, anyone over eighteen can get a prepaid card. You usually load them with cash, locking in a rate on that day, then spend on them later. Revolut is top for euros, dollars, zlotys and Swiss francs, and WeSwap has a wider range of currencies. For far more see Cheap Prepaid Cards.
TMMFind top rates for foreign cash in seconds. For the folding stuff, use our TravelMoneyMax Holiday Money Comparison tool which compares 30+ bureaux, eg, for 1,000 Turkish lira right now the cost range is £230 to £270.
A trick to buy cash now AND protect against currency swings. Travelex and Moneycorp let you book rates for collection now, up to 14 days ahead, but cancel for free. So if the rate gets worse, you're up; if the rate gets better, just cancel and buy at the new rate. Yet these generally aren't the cheapest bureaux.
Hope this helps.....Hedge
Totally Oblivious To Everything...
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