Holiday money exchange: Make your money go further

Dreaming of sun, sea, and sand? Let’s make sure your hard-earned cash goes as far as possible. 

Exchanging your holiday money can be a minefield. But we’re here to guide you through the maze of exchange rates, hidden fees, and top tips to maximise your spending power. 

Want to know the best place to exchange holiday money? Let’s get started.

What is holiday money exchange?

Simply put, it’s swapping your home currency – like pounds Sterling – for the local currency of the country you’re visiting. 

This could be euros for a trip to Spain, US dollars for a holiday in New York, or Thai baht for a beach break in Phuket.

Exchange bureaus are the places where this magic happens. These shops all over the world specialise in buying and selling different currencies. 

Consider them currency supermarkets where you can buy travel money. They offer a range of options to suit your travel plans.

How exchange bureaus work

The first thing you’ll likely see in an exchange bureau is a rate board. This displays the exchange rates for different currencies. 

Exchange bureaus make their money through something called the spread. 

This is the difference between 2 rates:

• The rate they buy currency from you (the ‘sell’ rate) 
• And the rate at which they sell currency to you (the ‘buy’ rate). 

The wider the spread, the less you get for your money.

You might hear the phrase “no commission” thrown around. While this sounds great, it doesn’t always mean you’re getting a fantastic deal. 

Often, the commission is simply built into the exchange rate. So, don’t be fooled by this claim!

Keep your eyes peeled for hidden fees too. Some bureaus might charge extra for services like sending money home or exchanging coins. Always ask about any potential charges upfront.

Finding the best holiday money exchange rates

So now you know that exchange bureaus can be sneaky with their rates. But don’t worry, there are ways to get the best deal for your holiday money.

The golden rule is to compare holiday money exchange rates. Don’t just settle for the first bureau you see. Shop around, both online and on the high street. You might be surprised by the difference in rates.

One common trap to avoid is airport exchange bureaus. They often offer terrible exchange rates to take advantage of desperate travellers. Order your currency online before you go.

Different names for holiday money exchanges abroad

The names of holiday money exchanges vary widely around the world.

1. Bureau de change – France, English-speaking countries
2. Currency exchange – Common in English-speaking countries
3. Oficina de cambio – Spain, Latin America
4. Wechselstube – Germany, Switzerland
5. Cambio valuta – Italy
6. Kantor – Poland
7. Money change – Common in Southeast Asia
8. Ryōgaisho – Japan
9. Huàn huì diàn – China
10. Casa de câmbio – Brazil
    

Is it better to exchange currency at home or abroad?

Exchanging some currency at home before you leave with Manor FX is better – we have the best rates!

When you get to your destination, you’ll have money for immediate expenses such as meals or taxi rides. This is especially handy if you arrive outside of business hours. 

Exchanging currency before you leave with banks, the Post Office, or some bureau de change can be less advantageous, though. 

Some businesses have higher exchange rates and fees than other options available at your destination.

Tips for exchanging holiday money

Read on to learn how to make your money go further. 

Budgeting is key 

Figure out how much you’ll need to cover accommodation, food, activities, and any large purchases. This will help you avoid exchanging more money than you need.

Compare exchange rates

Look for the best deals on travel money comparison websites or apps. Remember, even small differences in the foreign exchange rate can yield significant savings.

Safety should also be a top priority 

Keep your cash secure by using money belts or hidden pockets. Avoid flashing large amounts of money, and consider splitting your cash into different places.

Don’t forget about your leftover foreign currency 

Some exchange bureaus offer to buy back foreign currency, but the rates aren’t always great. You’ll find better deals with us online or at our specialist currency exchange shop in Datchet near Heathrow.

Remember, a little planning can go a long way when exchanging holiday money. Following these tips lets you enjoy your trip without worrying about your finances.

Takeaways

Exchanging holiday money doesn’t need to be a headache. 

By understanding exchange rates, shopping around, and being aware of potential pitfalls, you can get the best travel money deal and make your money go further.

Remember, ordering your currency online often offers better rates than high street exchange bureaus. 

Remember to check out our great deals on foreign currency at Manor FX. We offer competitive rates and hassle-free service.

Want to know more about travel money? Check out our other blog posts for tips and advice.

Why use Manor FX?

• Wide range of currency: Over 160 currencies available.
• Convenient pick-up: Click and collect at your local bureau.
• Free home delivery: On orders over £750.
• Next-day delivery: Secure and fast delivery when you order online.
• Competitive rates: Better than banks and airports.
• No hidden fees: Transparent pricing.
• Peace of mind: Avoid airport queues and poor rates.
• Excellent buyback rates: Get the most for your unused currency.

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