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Travel Money

Buy Travel Money Online

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According to Mintel research earlier this year, more people are arranging their travel money online, while in-branch or in-store collection has fallen from 65% in 2017 to 58% in 2018.

With so much volatility and the continued devaluation of the pound post-Brexit, many people find it hard to understand how exchange rate fluctuations can affect their travel arrangements, which explains why they appear to be changing their behaviour regarding travel. They want to feel more in control of spending and remain within budget.

Taking travel money abroad is the best way to stick to a budget. There are no hidden fees or worry about movements in exchange rates.

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What are the benefits of buying travel money online?

Buying travel money from an online currency exchange comes with many benefits. Some of these are:

Affordability

Transactional fees are very reasonable with online currency exchange platforms; you can save a considerable amount while buying travel money for the trip. Moreover, there are no hidden costs or additional spreads associated with the exchange rates, as with banks or bureau de change.

Delivered at your doorstep

The concept of purchasing travel money online means they will deliver it to your desired location in a safe and secure way. This way, you save a lot of time and effort that you would have otherwise spent in an offline currency exchange institution.

Competitive exchange rates

Consumers must take advantage of the improved exchange rates offered online. The growth in comparison websites makes it much easier for consumers to source the best rates, with approximately 40% of holidaymakers checking these sites before purchasing online.

Online currency exchange platforms such as The Currency Club give access to live interbank exchange rates for more convenience. That's not all! We will let you buy back GBP with the remaining travel money once you return from your trip.

A word of caution

There are certain security measures in place that are essential and mandatory while purchasing foreign cash online. For instance, some companies will call customers to confirm their identification after they have ordered travel money.

However, it is important to note that some of the listed companies are not regulated or registered with the FCA, and if that is the case, then there is zero protection if the company defaults. Your money will be lost.

Also, the comparison sites will be working off an online pricing feed from the currency provider. These feeds may not offer the most accurate pricing if they are not updated regularly by the comparison site.

If there are delayed in the rate feeds, it is far better to go to the currency provider's website directly to transact.

Arranging travel money has traditionally been part of holiday planning, and many of us prefer to get this organized before we travel.

Nevertheless, you must not buy foreign currency with credit cards as this could end up eating your savings. You will be charged interest along with an advanced fee.

Remember to take security into account both while you are bringing foreign currency with you and storing it at your vacation home.

Make sure any cash you leave in your hotel room or apartment is kept in a safe, and never carry more cash than would be covered by your travel insurance policy in the event it was lost or stolen. You can also try wearing a money belt to keep your cash safe.

We all want to feel prepared and ready to enjoy our holiday experience when we land at our destination. If sticking to a budget is one of your top priorities, then taking travel money in advance is the best way to go!

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Disclaimer

We have made every effort to ensure that the information published here is correct and accurate, however you should check and confirm the latest exchange rates with The Currency Club directly prior to making a decision. The information published is general and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available

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