Save on travel money

If you’re organised enough to get foreign currency sorted out before you leave, there are ways to save a substantial amount, says Sarah Moore.

Many holidaymakers get their travel money from a frenzied dash to the foreign-exchange bureaux at Heathrow on the way to their flights. But these shops are very expensive as one look at the spread between the buy and sell price will tell you. If you're organised enough to get foreign currency sorted out before you leave, there are ways to save a substantial amount.

First, ignore your bank and the post office. They rarely offer good rates. You're better ordering from a specialist foreign exchange bureau (either for delivery or collection). A comparison site can help you find the cheapest providers: one useful tool is MoneySavingExpert's TravelMoneyMax.

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Sarah is MoneyWeek's investment editor. She graduated from the University of Southampton with a BA in English and History, before going on to complete a graduate diploma in law at the College of Law in Guildford. She joined MoneyWeek in 2014 and writes on funds, personal finance, pensions and property.