Compare currency deals
When you're buying travel money, it's smart to compare rates from different providers to make sure you're getting the best value.
Whether you're heading to Europe, the US, or beyond, understanding the full cost of your currency exchange is key to avoiding hidden fees and poor rates.
We encourage anyone buying travel money to shop around and compare rates to find the best deal. Here are our top tips to make sure you get the best value when you’re comparing travel money deals online.
How to compare travel money deals
Check the total cost, not just the rate
It's important to look at the overall cost of buying your foreign currency, not just the exchange rate. The best travel money deal will involve a combination of:
- A good exchange rate
- Low commission
- Good value on handling costs, credit card charges, and delivery fees
You might also get a discount for buying over a certain amount.
For example, a provider offering a slightly lower exchange rate with zero fees may give you more foreign currency in total than one with a higher rate but high delivery charges. Always calculate the overall value, not just the headline rate.
2. Make a like-for-like comparison
When you’re weighing up your travel money options, be sure that you’re making a like-for-like comparison. Here are some things to think about:
- When will you get your cash or prepaid currency card? If you’re travelling the next day, you don’t want to wait 10 working days for delivery.
- How will you get your foreign currency? Would it be more convenient to have your travel money delivered to your home, or to collect it from the airport?
- Is the rate advertised on the comparison site actually available?
Will your credit card be charged? Some providers charge over 2% for using a credit card to buy travel money, which can make a huge difference.
3. Beware the pitfalls of comparison sites
Some comparison sites only promote foreign currency providers that they have a commercial relationship with. This can lead to confusing and conflicting results if you use a number of sites to compare travel money deals.
4. Use reputable sources
Look to reputable travel money comparison sites such as MoneySavingExpert, which provide impartial, accurate and up-to-date exchange rates across a broad range of currencies.
5. Know when to buy
Exchange rates can change daily and are difficult to predict. The key is to plan ahead and track trends.
Our advice is to plan ahead and use our Travel Rate Tracker to monitor live exchange rates and get alerts when your desired rate is available. This gives you the best chance to secure a good deal before you travel.
FAQs about buying foreign currency
When is the best time to buy travel money?
There’s no guaranteed “best” time to buy foreign currency, as exchange rates are influenced by global economic trends, market speculation, and political events. However, planning ahead is key.
Consider using a rate tracker to monitor changes so you can order your currency when rates are more favourable and potentially lock in a better deal.
Is it cheaper to buy travel money online or at the airport?
Yes, it’s generally cheaper to buy travel money online. Online orders often offer better exchange rates and lower fees than buying at the airport, where rates tend to be less favourable due to high overheads and captive demand.
Ordering in advance online also allows you to choose between free home delivery or collection at a location that’s convenient for you, including major UK airports.
Great value foreign currency with Travelex
As the world’s leading provider of foreign exchange, we’re committed to making sure travellers get great value.
With Travelex, you can enjoy great rates, no hidden fees, and the convenience of home delivery or airport pickup. Start comparing exchange rates now and see how much you can save on your next trip.