Travel expert explains how Brits can save £200 on holiday

James Lynn, CEO of travel debit card Currensea, said Britons could save £200 if they avoid changing money at the airport. He also explained why Britons should never opt to pay in sterling while overseas.

Avoid exchanging money at the airport

“One in three families still exchange most of their money at the airport as they believe it’s more convenient, despite being hit by poor exchange fees and hidden charges which ultimately waste their hard-earned savings.

“Exchanging cash at UK airports can be up to 30 percent more expensive, meaning you could lose over nearly £150 of cash for every £500 you change.

“For families, the total amount lost could be even greater! As families spend an average of £2,000 for a week’s holiday, our research shows that they’re losing over £200 by exchanging dollars or euros at the airport compared to using card payments abroad.”

Changing currency at the airport is usually far more expensive than doing so ahead of time. Britons could use a currency card or change money before they travel to avoid any unnecessary fees.

Always pay in the local currency – even before travel

“Sixty percent of people are still unaware that choosing to pay in sterling when overseas can result in a much worse rate. The number one rule is you should always opt to pay in the local currency.

“This is an easy trick to avoid the poor rates and high costs you face when abroad but also at home – for example, a family of four booking a flight over the Easter weekend from London to Barcelona with Vueling could save almost £60 by opting to pay in euros instead of pounds.”

Tourists paying by card in a restaurant or shop overseas should always opt to pay in the local currency for the best rate.

It’s also a good idea to see whether paying in foreign currency could be a better way to save when booking flights. Britons can do this using a currency card for the best rates.

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Paying in cash isn’t cheaper

“Exchanging cash is not only a hassle, it’s also expensive – if you spend via card when abroad you can save hundreds of pounds if you choose the right card.

“Over a fifth of travellers still persist with using cash for 100 percent of their holiday spending and risk facing high fees from extortionate currency exchange shops. Plus, as many retailers or restaurants increasingly move away from accepting cash payments, it seems cash is no longer king.”

Many cafes and restaurants will no longer allow customers to use cash to pay for transactions overseas. However, in some destinations cash is still the most common way to pay.

British tourists should do their research before leaving to see whether they will need cash for a holiday.

Watch out for overseas ATM charges

“If you do persist with cash beware the high fees charged by overseas ATMs. While it’s likely to be cheaper than exchanging cash at the airport, when withdrawing cash from a foreign ATM, some ATM providers can charge around £5 extra for every transaction. This can quickly add up and eat into your family’s budget.”

ATMs could add a hefty fee to the price of a transaction so tourists should check before withdrawing money.

Tourists should also choose to withdraw money in the local currency as they will usually get a better conversion rate than the one offered by the ATM.

Britons could also try to plan how much cash they will need for their holiday so they avoid overusing an ATM.

But where are this year’s cheapest destinations for a holiday? Travel expert, Simon Calder recommends tourists head to Lake Ohrid in North Macedonia for a bargain trip.

He also highlighted the Polish beach resort area at Sopot where prices are at 1990s levels this summer.

Post Office Travel Money found that Egyptian resorts such as Sharm el-Sheikh are offering tourists more bang for their buck.

Britons could also opt for a staycation with Leicester and Blackpool recently crowned the cheapest breaks in the UK.

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