MONEY MATTERS
We help you make savvy choices, so your hard-earned goes that bit further
3 ways to... cut the cost of currency
Going on hols? Then you’ll want your spending money to go as far as possible…
When it comes to exchanging currency before you set off, make sure you check the best rates online – you could save serious cash, especially compared to turning up at the airport and swapping it there. But remember to factor in any fees you’ll need to pay. Find more info and useful tips at which.co.uk.
Before using your credit or debit card abroad, make sure you check any fees you’ll be charged for doing cards that don’t charge fees when you use them abroad; just make sure you repay in full each month to avoid paying interest, and beware of withdrawing cash on your credit using them abroad, but you’ll usually need to apply for a new bank account to get one. Or you can load cash on to a prepaid travel card, which you can then use like a debit card. But be sure to check any fees first.
If you’re paying by card and asked if you’d like to pay in the local currency or pounds sterling, choose the local currency – in most cases it’ll cost you less, says HSBC UK. If you pay in sterling, it can be more card as this will be marked on your credit file. You can also get debit cards so. You can get travel credit that don’t charge fees when expensive as the shop or restaurant can set its own exchange rate and they may add extra conversion fees on top, too. Find more info at hsbc.co.uk.
Go green, save cash
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