Travel Money – ASDA’s guide on how to make your pounds work harder!
Get the most from your travel money
The strength of the pound can have a big impact on where you go on holiday, and how much you spend when you get there.
Remember 2007? You could buy dollars at more than $2 per pound and Britons were flocking to New York for shopping trips. Fast-forward two years and sterling had sunk: you could only buy one euro per pound at its lowest point, putting many off an excursion to the Continent.
But while there’s nothing you can do about currency exchange rates, there are steps you can take to get the most out of your holiday money.
Secure a competitive deal on your cash
You can order your travel money from Asda Finance, and we promise you a competitive deal!
Through our partner, foreign-currency specialist Travelex, we can deliver anything from Kuwaiti dinars to Latvian latu when you buy currency online or by phone.
We offer 0% commission if you buy foreign currency or travellers cheques, and next-day delivery direct to your home if you order before midday.
Forgotten to arrange your cash before you go?
You’ll usually get the best deal on holiday money by planning ahead and getting it before you leave. But if you do arrive at the airport with only pounds in your pocket, be aware that currency exchanges at airports will often not be as competitive as elsewhere. Shop around to find the best foreign exchange rate – and don’t buy currency at the first outlet you find.
Check charges on credit and debit cards
Using your credit card abroad may seem like a hassle-free way to spend, but check how much your provider charges for each transaction before you go.
Even in the UK you’re charged about 3% to withdraw cash from a machine on your credit card.
Some credit card providers also charge for each overseas transaction, so if you’re desperate to buy those flip-flops but don’t have any foreign currency in your pocket they could turn out to be an expensive footwear purchase.
Some debit cards incur fees too. Just because your account is free to use at home doesn’t mean it is abroad and it is best to check exchange rates in advance.
On a more cheery note, some providers don’t levy any additional charges and others only do so in exotic locations - just make sure you read the small print.
Holiday where the pound is strongest
The pound has gained strength against the euro this year, resulting in the best euro exchange rates seen for a while.
Other destinations to watch are the likes of Bulgaria and Croatia. They both have an established tourist industry, but don’t use the euro. The Croatian kuna and Bulgarian leva can provide bargains when foreign exchange rates are favorable and both destinations have low living costs.
Compare historical exchange rates with exchange rates today.
Other top tips for holiday savings
- Time your travel: Book really early (a year before departure) or really late (on the day or a few days before departure). This is because flights have just been released and need filling, or they’re about to close and the airline wants to fill a plane. But don’t fly on Fridays and Saturdays – it costs more.
- Unsociable sailing: For those who think flying to the continent is just for birds, ferry travel may be more appropriate. Bag a bargain from a cross-Channel operator by travelling at unsociable times.
- Compare deals: See if booking each aspect of your trip – flight, hotel, and hire car – online with an agent saves you money. Compare prices of similar holidays using internet search engines and sign up for offers with tour operators and airlines. Once you find a deal see if high street shops can offer you something better for less.
- Read all about it: National newspapers sometimes offer discount tickets on holiday packages, transport and days out. Keep your eyes peeled for bargains.
