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Don't get hit twice by poor currency rates

12th March 2013 Print

As holidaymakers in search of winter sun face the double-whammy of a weak pound and rising hotel room rates in long-haul destinations such as the Middle East and Asia, Doug Gowan, Head of Travel Money at Tesco Bank offers the following advice when purchasing foreign currency:

"If you are planning a trip abroad and want to make the most of your money, make sure you shop around for the best deal on your foreign currency as prices vary from one provider to another.  Commission-free deals don't always mean you are getting the best price and if you leave it to the last minute at the airport, you will get less for your money than if you buy in store or on the high street.
 
"It's not just before you go that you have to do your research.  When you come back you need to make sure you are not hit by a poor exchange rate when you want to change your left-over currency back to sterling."