Foreign Exchange

Tips

A few tips...

Keep your cash in a money belt or other secure device whenever you have it on you. These are readily available at most travel shops and offer a subtle way to carry cash with you when on the road. Always ensure that it fits invisibly under your clothes otherwise it defeats the purpose of having one.o Never display money or count it when travelling. Try and be inconspicuous when spending large amounts.
Only carry with you as much cash as you need. Put the rest in a hotel safe or at the bank until you need it.
Never change currency with on the street with black market traders or unofficial agents. The rates may seem good, but nine times out of ten it is a scam.

Getting Travel Insurance

Travel insurance is an important thing to consider when travelling abroad.
Comprehensive travel insurance packages will cover such incidents as injury, cancellation of transport, theft, lost luggage etc.
Some policies offer insurance against money being stolen- on your person or in a hotel safety deposit box.
Some policies offer an option to insure travel money, but the cover will not exceed £500.
If you plan to mainly use cash when abroad, it would be wise to seek cover of this kind before travelling.
With Travellers’ checks and other non-hard currency items, it’s less important to be insured, but vital that you know what to do if they’re stolen or misplaced.
Some insurance companies offer a discount if you book online or give you a discounted commission rate on foreign exchange if you book your insurance with them.
It’s worth looking shopping around to ensure you get the best deal on and insurance cover for your trip abroad.
Be aware that sometimes getting insurance from your travel agent won’t ensure the best deal.
Other options include banks who offer long-term travel insurance policies with similar cover to a travel agency at more affordable prices.
When buying travel insurance from the same company as your home insurance, avoid ‘double-insuring’ some items, such as video cameras, which may already be covered by your existing policy.
Remember that the key to getting the best possible deal is to shop around, know your rights and reading all contracts carefully before signing.