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Shop around for travel money and save on commission

Shop around for travel money and save on commission

- Wednesday, 13 October 2010

Families planning on going abroad this half-term have been advised to shop around for the best exchange rates on travel money as this may mean they have more to spend.

Moneysupermarket.com has urged consumers to arrange their travel money before they jet off as exchanging it at the airport can incur extra costs, which may lead to debt problems.

Exchanging money at a Bureau De Change at an airport can cost £91 more than if the same amount was withdrawn at the destination using a prepaid card.

A prepaid card could help families budget their holiday costs as they can only spend the amount on the card, which may help them avoid accruing debt problems.

Claire Francis, site editor of moneysupermarket, said: "Holidaymakers may feel that travel money is at the bottom of the list when preparing for their holiday, but taking time to research their options will leave them with more cash to enjoy an extra ice cream or three."

Destinations in Europe could be an option as the pound strengthened against the euro by four per cent in September, revealed the International Currency Exchange.
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