So we know the pound to euro rates haven’t been all that amazing since we were hit with Brexit, so we wanted to share a few tips to help you get the most for your money on holiday this year.
- Having the ‘right’ credit card can be the cheapest way to spend when abroad but that does largely depend on if you are going to pay the balance off in full. With some cards you also need to pre-load your card so it’s already in credit to avoid any interest charges and always let them know that you are going to travel to avoid it being blocked while you are away.
- Debit cards are NOT a great way to spend when abroad as you typically pay a non-sterling transaction fee of around 3%. Debit cards will vary so it’s always best to check with your bank before you travel so you are not hit with any nasty surprises when you come to check your bank statement.
- When it comes to making card payments abroad, always pay in the local currency EUR. This is often a sneaky one as if they ask if you want to pay in ££ it seems like the logical things to do, but you do not get the best rate. The bank will pay you the best rate so always opt to pay in €€€.
- Our favorite way to spend abroad is to use a Revolut card. I have been using this myself since moving out to France last year and each time I compare, I am getting a far better rate than you would get at your money exchange desk as they commit to giving you the exact rate of the bank. (Also never exchange money at the airport as they have the worst rates going)
You can use the Revolut card at anywhere that has a MasterCard sign or you can also use it to draw money out at the cash machine with absolutely no charges. Plus you can easily top it up with the app or through your bank and can be used for multiple different currencies. We also like that it can give you a clear breakdown of your spending plus it boasts excellent security features as the card can be cancelled from the app on your phone should you lose it. All in all it’s a brilliant option for anyone that may be heading off anywhere either travelling or just on your next holiday.
These are just a few Top Tips in helping you get the very most out of your exchange.
Let us know what your usual methods of dealing with travel money are by commenting below. You might find you could save yourself a good few quid!
Gav & Emma
PS – If you found this article useful please do share with your friends that are heading off on their holidays soon.