Foreign Currency Suppliers

Banks

• Most of the larger branches of major UK banks will offer a foreign exchange service for a range of currencies.
• Some banks offer travellers’cheques as well.
• Usually a commission will be charged, but certain banks can waive this if you have an account with them.
• Banks in Europe tend to offer a much better exchange rate than travel agencies, even after commission has been taken, but this varies according to area.

Travel Agents

• Most travel agents offer their own bureaux de change.
• Rates, commission charges and other benefits vary from place to place.
• Changing money with the agency you booked your holiday with is preferable to going to another agency.
• Some companies offer additional benefits if you change money with them as well as booking your holiday with them.

Thomas Cook

• Offers a comprehensive exchange service at each of its branches.
• When booking certain flights or holidays with Thomas Cook, you are entitled to exchange a certain amount of cash with no commission charge.
• When booking with Thomas Cook, they also buy back any unused currency leftover from your trip, with no commission charged.
• Thomas Cook also issues its own travellers’ cheques.

American Express

• American Express offers currency exchange, travellers’ cheques, TravelFunds® and, of course, the American Express card.
• American Express also allows you to order its various products online for collection at a later date, as well as purchases made at branches,
• Some online discounts are periodically available, find out the details on the American Express website.

Post Offices

• Post Offices, especially in Europe and the UK, offer decent exchange rates and low commission on foreign currency exchanges.
• In the United States, this is less the case, with banks and travel agencies offering a more reliable service.
• Post Office in Britain offer a good range of services: changing money either in person, by phone or over the Internet for pickup at a convenient time.
• No commission is taken on any UK Post Office foreign currency exchange transaction.
• If the exchange rate offered that day is favourable, big savings can be made here.
• American Express travellers’cheques are available at selected branches of the Post Office, with no commission charged.
• Travel Insurance is also available from the Post Office, at competitive rates.
• Be sure to go through any policy wording carefully.

Hotels and Tourist Areas

• Major hotels and businesses in tourist areas often have their own bureaux de change on site.
• In these areas, exchange rates range from favourable to average- this varies widely from place to place.
• Transactions here are useful changing money in a hurry or getting some cash urgently.
• When using this option, find out whether a service fee or commission is charged as this is sometimes waived for hotel guests.
• Remember to check the exchange rates offered, as it can be less competitive than other establishments.