A recent survey by Monarch Airlines has shown that 80% of Brits return to the same resort every year on holiday. But is our familiarity making us creatures of habit when it comes to travel money too?
Local building society, the Vernon, have put together some tips on travel money to help those travelling to their favourite destination to re-think their currency habits:
Vernon’s Travel Money Tips
- Don’t leave it until the last minute and pick up your currency at the airport – exchange rates can often be poor. Shop around to get the best deal.
- Take a small amount of cash with you to use initially. Small denominations are usually better where possible to avoid being short changed.
- If you do take cash only, split any large amounts and keep them somewhere secure such as the safe in your hotel room, along with any credit cards, travellers cheques and passports.
- A prepaid currency card can be a great way to keep your holiday money safe and stick to a budget while still having the convenience and ease of paying with a debit or credit card.
- Familiarise yourself with the currency and the exchange rate before you travel so you can work out the price of goods and services and avoid any surprises.
- Watch out for merchants offering to convert your bill into your home currency and check your bill before you pay – the exchange rate will often be in their favour, not yours!
Head of Sales and Marketing at the Vernon, Ian Keeling (left), said:
“It’s great that people have their favourite destinations but it’s worth checking that you aren’t stuck in a rut with your holiday money – you might get a better deal elsewhere or find that another method of spending suits your needs or destination better. A little effort to review this before you travel could mean you have more to spend while you’re away without breaking your budget.”