As a traveller, the best news that you can hear is that the pound is strong.
Since the Prime Minister, Teresa May, struck a deal with the DUP for government support, sterling has rallied and this is great for holidaymakers. Just a few days prior to this the US Dollar suffered a difficult day against several global currencies and this was good news for sterling to US Dollar conversions.
The stronger the pound is, the more you’ll get for your money and if another currency weakens this can impact positively because £1 hits a higher value against it.
For example: Last week the rate may have been £1.27 dollars to £1, today it may be £1.265 to £1 and in a week’s time $1.24 to £1. Clearly a higher rate is desirable, it’s more “bang for your buck.”
As a holidaymaker or business traveller you want the best deal from commission to exchange rates and so the ability to go online to compare travel money rates on an easy to read website is a welcome part of the process. You may have spent hours researching a resort, the hotel and travel links so why not spend a few minutes looking at the array of travel money exchange rates and deals available before you spend?
Making a purchase
Travel Money Rates offer the facility to click and collect so you can order now and collect later from your chosen vendor with a reserved travel money exchange rate. You can call in to a high street travel money exchange department in a bank, travel agents or supermarket or take advantage of a delivery service.
Occasionally, political or financial disquiet in countries affects the economy and subsequently the currency value fluctuations cause a flurry of activity in high street establishments which must keep updating their rates.
A rate reserved in the morning of 1.27 through a firm like Travel Money Rates will be guaranteed even though the customer may collect in the late afternoon when the rate may have fallen to 1.26.
Compare travel money rates
It takes a couple of clicks to find your best deal, it really is that simple.
Example using £100 in to US Dollars on 28th June 2017 through Travel Money Rates:
Ace-FX are offering a rate of 1.2710 and a delivery fee of £4.99 is included. This means $120.76 to the customer.
A less tempting deal comes from HSBC, their rate at the time of enquiry is 1.2237 and the delivery charge is £3.95. The total that the client receives is $117.54.
Why lose out on the strong pound by minimising its impact?
Currency click and collect
Using a currency collection service with Ace-FX, the same travel money exchange rate but with no fee, it’s $127.10 and Sterling achieve the best conversion at 1.2748, $127.48. Meanwhile, HSBC are offering 1.2237, $122.37
A strong pound is a traveller’s friend, so is a currency comparison website that maximises its power.