Travel Information for UK Travellers - The Complete Travel Information Directory

Foreign Currency

The UK has decided, along with Sweden and Denmark to not, at present, to adopt the use of the European currency the Euro so leaving us with the task of purchasing currency whenever we travel abroad. Countries in Europe using the Euro are Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, Finland, and Greece.

Travelling further afield will mean purchasing the currency of the country you are visiting, with a few exceptions where the amount of currency you are allowed to import is restricted or actually zero and in these instances you have to purchase you currency upon arrival. The USA Dollar has, until recently been readily accepted in many countries but due to it's recent weakness is often now refused (e.g. In Indian tourist destinations)

Remember that when purchasing your foreign currency that you will buy at a different rate than you can sell at and this means that money converted back to pounds Sterling will usually show a loss unless there has been a significant decrease in the rate of exchange for that country! This buying and selling difference has generally replaced the older commission charged on currency exchange unless, of course you try to exchange travellers cheques into another country in your destination country.

Buying your currency - Traditionally people visited the bank or travel agent to get their currency but, like so many other consumer items, you can usually buy your currency online at a better price. One such company that offers great rates of exchange and an excellent service is Travelex who, with currency collection desks at most UK departure points mean that you can order and pay online before departure and simply pick up your travel money at your departure point. Travelex serves over 80,000 retail customers a day, that's in excess of 30 million customers every year. Their UK online Price Promise means that no one will beat their online foreign currency prices. There website can be visited here.

Travellers cheques - These can be a useful option if you wish to carry your money securely as they cannot be exchanged without identification that is usually related to your passport and thus offers you some security should you experience a loss of your cheques. Also, if you purchase your traveller cheques in Pounds Sterling then you can simply bank what you do not spend without a financial penalty upon your return to the UK