How to compare travel money rates
Travelex is leading the world in foreign exchange and we’re committed to giving you great value. But you don’t have to take our word for it – here’s our guide to comparing currency exchange rates online and finding the best deal for you.
1. Check the total cost, not just the rate
The number one rule is to check the overall cost of buying your travel money, not just the exchange rate. You’re looking for a good exchange rate combined with low or no commission, handling costs, credit card fees or delivery charges.
2. Make sure you compare like-for-like
With all of the additional charges that foreign currency companies can apply, it's important to compare deals that are based on the same criteria. For example, does the cost include delivery?
Here are some things to think about:
- When will you get your travel money? Some companies will have it ready for you sooner than others.
- How will you get your currency? You could collect it from a local store, or from your departing airport.
- Is the rate advertised actually available? It could be based on terms and conditions that don’t apply to you.
- Will you be charged for paying by card? Many companies charge you for using a credit card to buy your travel money, adding unplanned costs to your final total.
3. Pick a good time to buy your currency
Everyone wants to know when the best time to buy currency is. The trouble is, when it comes to exchange rates, you never really know. Rates can – and do – change all the time, but keeping an eye on rates for a while before you buy will help you make an educated decision on the best rate.
To make it even easier, Travelex’s handy currency converter tool allows you to view the exchange rates for all currencies offered over a 12-month period.
