<p><img style="width: 500px; height:246.66666666666666px;" src="https://media.caxtonfx.com/img/1100340/uk-passport-and-euros-brexit-travel-money.jpg?width=500&height=246.66666666666666" alt="" data-udi="umb://media/42063eb9555242f6b33ffa42e4038dda" /></p> <p>Here’s our best pieces of advice for making the most of your money the next time you travel.<strong><span> </span><br /></strong></p> <ol> <li><strong>Watch the rates to take advantage of gains<span> </span><br /></strong><br />Brushing up on how the markets work and understanding what a good exchange rate is for your holiday currency always helps to make more informed decisions.<span> </span><br /><br />Also take note of big economic events since they can significantly influence the strength of a currency, so keep up to date with current affairs, and check the news headlines. It’s worth taking advantage of gains in your favour. If you see news that the pound is strengthening, it’s worth exchanging some of your holiday money that day! Load your <a rel="noopener" href="/cards/" target="_blank">Caxton Currency Card</a> , or use our <a rel="noopener" href="/cash-delivery-service/" target="_blank">Cash Delivery Service</a> to get currency delivered next day to your home.<br /><strong><br /></strong></li> <li><strong>Hedge your bets<br /></strong><br />Consider playing it safe: you can hedge your bets by exchanging half your currency now, half later. This can be done easily by locking in a rate in advance. That way, whether the rate goes in your favour or against you, you’ll benefit from the higher exchange rate on at least half of the amount.<strong><br /><br /></strong></li> <li><strong>Don't forget your currency card<br /><br /></strong>Currency travel cards are a great way to get the most out of your holiday money. Not only do they tend to offer great exchange rates, and few, if any charges when spending abroad, they also allow holiday makers to pre-load exactly how much they want to spend, meaning you are less likely to blow your budget. (For example, the <a rel="noopener" href="/cards/" target="_blank">Caxton multicurrency card</a> does not charge you for using ATMs abroad and could save you an average of £3 per cash withdrawal compared to your debit card.)<br /> </li> <li><strong>Avoid airport bureaus at all costs<br /><br /></strong>Always avoid airport bureaus for exchanging money as they generally provide poor value. The bureaus have captive markets in the airport, leaving them free to offer travellers terrible rates and commission. Make sure you plan ahead to avoid this. Even if the rate is just 2% higher, this could be as much as £40 on the average family’s holiday spending money.<br /><br /></li> <li><strong>Insist on paying in the local currency<br /><br /></strong>If you are using a debit, credit or pre-paid card when travelling abroad, always be sure to pay in the local currency of the destination you’re in. Many people pay in pounds out of convenience and are not aware that by paying in sterling, the money gets converted twice - known as dynamic currency conversion - resulting in unnecessary charges. In some cases, this could be as much as £6 per transaction, which quickly adds up over the course of a holiday. However, a new Mastercard rule that prohibits DCC on pre-paid currency cards came into effect on the 12 April, so restaurants, cafes, hotels, and all other shops should not be offering the option to pay in pounds in the first place.</li> </ol>
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Travel Money Cards
Caxton offers the choice of two multi-currency accounts and cards. Choose between our free Black Card, or enjoy 0% FX and a range of benefits with our Red Card. <br> <br>
Get your Holiday Money Delivered
Beat the queues with the Caxton Cash Delivery service. With next day cash delivery to your home and 58 different currencies, it couldn’t be easier to get your holiday money sorted. Simply Login to your Caxton account and select ‘Cash Delivery’ to get started. <br> <br>
Travel the world with the Caxton prepaid travel card. Experts in Travel Money.
Check out our Travel Money Guides for around the world:
- Travel Money in Europe: Travel Money in France, Travel Money in Spain, Travel Money in Sweden, Travel Money in Denmark, Travel Money in Austria, Travel Money in Finland, Travel Money in Germany, Travel Money in Greece, Travel Money in Italy, Travel Money in Norway, Travel Money in Portugal, Travel Money in Switzerland, Travel Money in Turkey.
- Travel Money in North America: Travel Money in the USA, Travel Money in Canada.
- Travel Money in South America: Travel Money in Argentina.
- Travel Money in Asia: Travel Money in Thailand, Travel Money in Japan, Travel Money in Oman.
- Travel Money in Australia and Oceania: Travel Money in Australia.
- Travel Money in Africa: Travel Money in Cape Verde.