FairFX.com offers holiday makers $1.67 for every £1

As the pound surges to a ten month high, anyone travelling to the States in the coming months could benefit from getting some of their cash now, to lock in on the current rate of $1.67 for every £1 from FairFX.com.

Stephen Heath, Chief Executive of FairFX.com, said: "This surge in the value of the pound is good news not only for the UK economy, but also for British travellers planning to head across the pond. While still a long way below the $2 to £1 levels seen in July last year, the pound has rebounded 25% from the 23-year low of $1.35 it plummeted to in January this year."

Don't be fooled

Checking the exchange rate is very important as many travellers are misled by headline advertising for travel money such as "0% commission" or "no commission", which often masks the true cost.

The true cost to consumers is not only the advertised commission rate, but also how many Dollars, Euros or other currencies they receive for each pound exchanged, namely the exchange rate. This can vary so much that some travellers, particularly if they use regional airports, could actually be paying up to 15% more than others.

Stephen Heath added: "No one likes to be fooled into buying something only to find out too late that they paid over the odds or that they have been stung by extra transaction costs when they return from their holiday. A good currency card gives travellers the choice about when they fund their trip, getting Dollars now could help someone to budget for a future holiday, or simply mean they've locked in the best rate available so far this year."

FairFX offers customers market-leading exchange rates via either a pre-paid currency card or cash via their internet site: fairfx.com.