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Get the best currency exchange rates in London

HomeCurrency ExchangeGet the best currency exchange rates in London
  • best currency exchange rates in London.
25
Jun
Get the best currency exchange rates in London

Whether it be taking foreign cash, a travel card or using your own debit or credit card, it’s important to weigh up options before setting sail to avoid getting stung with hefty fees and charges to get the best currency exchange rates in London.

Cutting costs with the new players

There are a number of cards that won’t charge you a penny in foreign exchange fees or other bank charges when you use them in shops, hotels and restaurants, or to withdraw money from cash machines. This is one of the areas where the hi-tech new arrivals to UK banking are making a name for themselves.

WHEN SPENDING MONEY

Work out how many days you are away for and then budget how much you think you will spend each day to work out the total amount of spending money you will need.

From here you can work out what you plan to take in cash and on a card.

Some experts recommend you take 20 per cent in cash and the balance on card.

TAKE MULTIPLE FORMS OF CURRENCY

A holiday can become extremely stressful if you aren’t prepared for the worst when it comes to spending money – for instance getting pickpocketed or even having your bank cards compromised.

Travellers should take multiple payment methods when going on an overseas holiday.
Travellers should take multiple payment methods when going on an overseas holiday.

FIND A GOOD CURRENCY EXCHANGE

Allow enough time to get the currency with Best Forex UK before you leave – some exchanges won’t stock enough cash in the currency you need so it may take several days before it has arrived.

Customers should allow some days or weeks to receive currency before leaving on an overseas adventure.

CURRENCY EXCHANGE FEES

Whether it be using a pre-loaded travel card or using your own credit or debit card to transact, you should be mindful of the costs incurred on these payment options.

Fees can sting hard – travel cards can come with charges including exchange rate fees, initial card loading fees, cash reload charges and ATM charges.

Make sure you do online comparisons to see how different cards stack up price wise.

Currency rates differ greatly depending on where you get your money so it’s important to do your research to get the best currency exchange deal.

Charges at shops and restaurants

Most people using a debit card from a major UK bank to pay for purchases overseas will typically be charged a little under 3% for the privilege in the form of a non-sterling transaction fee. For standard current account holders at Barclays, HSBC, NatWest and Santander, it is 2.75%, while at Lloyds and the Halifax it is 2.99%.

HEADING OFF

Making sure your money is safe is critical to safeguarding yourself against thieves, Mr Jensen warned.

Some banks will require you to let them know you are travelling overseas so they don’t block your card if overseas transactions pop up, so make sure you call them before you leave.


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