Holiday Money

Holiday Money

It’s been a long time since you got as many euros for your Pound as you can do today.

At the time of writing you could get 1.4 Euros to the Pound – this is the best rate for over 6 years. Now, the fall of the Euro may continue but grabbing your holiday money now could be worth while.

All the usual outlets will happily change your Pounds for Euros – as well as high street travel agents and banks you should check the rates quoted by other retailers such as Asda or Tesco.

The get the best rate you need to shop around. Most currency exchange agents will advertise that they don’t charge commission or fees. This sounds good but when you look at the difference between what they will sell you Euros for compared to what they will buy Euros for, you quickly see how they make their profit. You won’t get the same rate when you change any surplus Euros back to Pounds at the end of your holiday. If your finances allow it, don’t change it back but save it for your next holiday.

As a general rule, banks don’t offer the best deal and buying at the airport/ferry is a definite no-no.Holiday Money

The simplest way is to ask how many Euros you will get for your Pounds and how much you will get when you change back. Don’t be afraid to haggle. Many agents claim they will beat any other quote.

Some agents will advise you that carrying your holiday money in the form of a plastic card is more secure. This is true and most card companies offer you the chance to cancel the card and recover your cash in the event of lost or theft. They usually supply a helpline number for you to report problems. If you consider this is the best option for you, check out the charges and fees before making your final decision. Check out The Money Saving Expert website for up-to-date information of the best deals. You can, of course, use your usual credit/debit card in France but check on the costs involved.

Another way to get a good deal is to buy your Euros with cash. If you use a credit card there may be charges by your card company. On the subject of cash, using cash on holiday gives you the chance to haggle. This is particularly true in markets and craft fairs. You may also need cash for buses, taxis and tips.

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