Post Office Travel Money
£400 to £2500
FREE delivery on online orders
U.S. dollar rate
Compare Travel Money With Money Pug
Money Pug allows you to compare foreign currency exchange rates to make sure you get the best value when changing currency and obtaining money for your hard-earned holidays. With Money Pug, you can also compare all the different options for funding your travel, from cash, to traveller’s cheques, to debit and credit cards, and prepaid cards for use overseas. If you are planning to take a holiday this year, you cannot do without Money Pug’s handy travel money comparison service. Whether you are on a tight budget, and looking for a cheap holiday abroad, or planning to splurge a little on some luxury travel, it makes sense to shop around and to get the best deals on travel money. Money Pug should be your first port of call for all your travel money needs.
What Should You Look At When Getting Your Travel Money?
There are plenty of different things to consider when you are arranging travel money for your next holiday. Here are some of the things that you should look at:
- The Different Exchange Rates
The exchange rate dictates how much of a foreign currency you will get in exchange for your UK pounds (GBP). Different companies will offer different exchange rates, so it can be important to shop around. You might get a few units of a currency more from one supplier than you would from another.
- Currency Commission
Another thing to bear in mind is that companies often charge commission to exchange one currency for another. Sometimes, this commission is a percentage of the transaction, sometimes it is a flat fee. Make sure that you include the commission when you make your comparisons. You not only need to find the company offering the best exchange rate, but also need to look at how much they are charging for the service. Only by taking both the exchange rate and the commission into account can you be sure of finding the best deal.
Some companies offer commission-free exchange. This can be appealing to cost-conscious travellers. But it is important to note that commission-free offers are not always the best deals. Sometimes, a company offering commission-free currency exchange don’t have such good deals on the exchange rate, so you could end up with a lower amount of foreign currency at the end of the day.
- Delivery Charges
Nowadays it is relatively easy to arrange foreign currency exchange online. Online services can be convenient, but when you are making your comparisons, remember to check what the company will charge for delivery, and also make a note of how long the delivery will take, especially if you are planning on travelling in the not too distant future. Some companies will charge if you only exchange a small amount, under £500 for example. You might be able to avoid a delivery charge entirely, however, by picking up your currency from a local branch, or from a designated bureau or collection point. Be sure to explore all the options before you make your choice.
- Insurance Issues
It is important to think about how much cash you actually want to take away with you when you go on holiday. It is usually best not to take too much cash abroad as you could be left with nothing if your money is lost or stolen while you are away. Note that there will be a cash limit on what you
can claim on your travel insurance policy, so you will only be covered up to a certain amount. Make sure you understand how much cash is covered by your travel insurance policy, or choose a policy that covers the amount of cash you want to take. (Money Pug can help you compare travel insurance, too, so be sure to check out that comparison service too before you travel).
- Leftover Currency Options
You might think that it is unlikely that you will return with unspent cash at the end of your trip, but it is best to be prepared just in case you do. It is a good idea to check out the details to see what a given company will charge to buy back the foreign currency, and what the exchange rate will be. As when you get your money in the first place, exchange rates can change so it is always best to do your comparisons and shop around.
- Loyalty Points & Special Offers
Another thing to look out for when choosing where to exchange currency and get your travel money are deals which offer the chance to earn loyalty points for the transaction. Look out, too for any sales or promotions of foreign currency, which may be especially good during the peak holiday season.
What Effects The Exchange Rate For Foreign Currency?
The exchange rate between different currencies will obviously go up and down over time, and some companies will have more favourable exchange rates than others. But what causes the exchange rate to differ? Reasons for differences in exchange rates can include:
- Economic conditions
- Politics and current events
- The level of demand for particular currencies
- The costs incurred by the foreign exchange company
- The commission charged by a particular provider
What Currency Do I Need For My Holiday Destination?
If you are a little bewildered by the financial world, you may wonder what currency you will need for your intended holiday destination. Here are the currencies used in a number of popular holiday destinations:
European (EU) countries: Euros (EUR)
- Iceland: Icelandic krona (ISK)
- Norway: Norwegian krone (NOK)
- Switzerland: Swiss Franc (CHF)
- Poland: Polish Zlotych (PLN)
- Hungary: Hungarian Forint (HUF)
- Czech Republic: Koruny (CZK)
- Croatia: Croatian Kuna (HRK)
- Turkey: Turkish New Lira (TRY)
- USA: United States Dollars (USD)
- Canada: Canadian Dollars (CAD)
- Australia: Australian Dollars (AUD)
- New Zealand: New Zealand Dollars (NZD)
- South Africa: South African Rand (ZAR)
- Japan: Japanese Yen (JPY)
- Thailand: Thai Baht (THB)
How Can You Save Money on Travel Money?
- Monitor exchange rates and strike while the rate is good.
- Check to see if your own bank or building society offers preferential rates for currency exchange for existing customers.
- Consider commission as well as exchange rate when comparing deals.
- Consider a credit card – getting the right travel credit card could be cheaper overall than exchanging lots of cash for your trip.
- Consider getting a specific prepaid card designed for foreign use.
Should I take cash, or use a credit or prepaid card?
While you may wish to take cash on your holiday, there are downsides to this option. Cash is less secure than a credit card or prepaid card. If you are travelling somewhere that has easy access to ATMs then a card could be your best option – just be sure to choose the right one. You can compare both of these with Money Pug too – simply search out the relevant pages on this website to get started. When looking at credit cards, do be sure to check how much it will cost to withdraw money abroad. Use Money Pug's Prepaid Travel Card comparison website to find the very best pre-loaded card to take with you on your next holiday. Usually, we would advise that it is best to take a small amount of foreign cash to use on public transport and for places where you cannot pay by card, and to use a card to pay for all larger purchases while travelling.
What is Dynamic Currency Conversion and do I need to worry about it?
If you take cash only on your holidays, you can look away now. If, however, you are considering a credit card or prepaid card for your travel money, you should be aware of dynamic currency conversion. If you use a credit card or prepaid card loaded with Sterling for purchases while you are away from home, you need to know that dynamic currency conversion could cost you money. When you buy something abroad, retailers may( or may not) ask if you would like to be billed in Sterling. This can be convenient – but does come at a price. When dynamic currency conversion is used, you will likely be charged at a higher exchange rate. Always check your bill carefully before you sign anything or enter your PIN
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