Don't waste your holiday cash on currency fees

Discussion in 'General Discussion | Travel' started by sobore, Aug 13, 2012.  |  Print Topic

  1. sobore
    Original Member

    sobore Gold Member

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    When getting your holiday currency, it’s all too easy to end up paying over the odds. Likewise, when using debit, credit and pre-paid currency cards abroad, it’s easy to fall prey to various fees and charges. Here are the rip-offs to watch out for, and advice on how to avoid them.

    Currency from airport bureaux de change:

    With so much else to sort out before you go away, it’s tempting simply to purchase your foreign currency at the last minute in the airport departure lounge. But doing that means you’ll pay significantly more than you need to, as airport bureaux de change offer some of the worst possible deals to walk-up customers.

    The alternatives? Pre-order currency. Earlier this week, buying €500 on the spot at a Gatwick Moneycorp bureau would have cost you £440.88. Had you ordered the €500 online on to pick up at the airport, the cost would have been £404.17.

    For online pre-ordering and airport collection, Moneycorp needs 24 hours’ notice, but with Travelex ( it’s just four hours’ notice for euros and US dollars (longer for other currencies).

    The website compares the cost of buying currency online with a host of foreign-exchange services, both for branch collection and home delivery.

    FlyingFree likes this.
  2. newbluesea
    Original Member

    newbluesea Gold Member

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    Not sure how the above site applies to US based travellers but Bank of America has had this service for a while now.
    (and I rather suspect so do many other banks)

    One can order currency even in specific denominations on their website, the cost is deducted from your checking account at the prevailing daily rate and you can pick up your money at your local bank (or any other designated BOA branch)

    The only additional cost would be $20.00 for overnight delivery or 1-3 days for $7.50
    BTW I have found that even when electing the lower charge I have received my order the next day.

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