Foreign currency: How to get the best value for money

Continuously fluctuating, and sometimes unpredictable, exchange rates can be a cause of confusion for many travellers. It’s difficult to know when to buy your foreign currency before an upcoming trip, or where you should get it from.

In fact, with Brexit looming, it seems a growing number of people are anxious about their next holiday becoming more expensive. 55% of Brits voiced this as a concern in our recent survey, and buying foreign currency was up there as one of the biggest worries.

Nobody can predict the future, but at ICE we’re here to help you get the best possible exchange rate for your next adventure. Discover our top tips for purchasing travel money below.

Don’t wait until you get to the airport

If you’re after the best possible deal on your foreign currency, don’t leave it until you get to the airport to buy it. You’ll always see the lowest exchange rates here, which means you’ll get a lot less for your hard-earned British pounds, whether you’re converting to dollars, euros or anything else.

If you have left things until the last minute however, there is another option. You can order your travel money online from a currency exchange provider like ICE, receive the exchange rate advertised online and then pick up your order at the airport. Here at ICE this is known as our Click & Collect service. You’ll receive our best rates, pay nothing until you get to your pick-up point and you’ll even have the option to collect on the very same day.

Shop online, rather than on the high-street

You’ll find better rates from providers on the high-street than you will at the airport, but your best bet will always be to shop online. The most competitive, and up to date, rates can always be found from online foreign exchange providers, and, when it comes to purchasing from ICE it’s a super easy process. Simply state how much money you need, place your order and your cash will be with you in no time at all.

Strike now before Brexit hits

With Brexit getting nearer, and while it’s uncertain what will happen to sterling, experts are predicting some form of negative shift. Louis Bridger, General Manager here at ICE, advises that travellers planning a trip in the near future should strike now, and buy their money sooner rather than later.

The full statement can be found here:

“Against the backdrop of continuing political uncertainty and with just four months to go until the planned Brexit date, it’s difficult to predict what will happen to exchange rates. If the Pound/Euro exchange rate improves between now and then, travellers should consider striking while the iron is hot to squeeze as much spending money out of their holiday budget as possible.”

Wherever you’re going, receive fantastic online rates on your travel money with ICE. Discover more about our Click & Collect and Buy Back perks here.