The cheapest way to get your holiday money

Many of you Mrs Mummypenny likers are off is a guide to finding the cheapest way to get your holiday money.  I’ve always thought the best rate I could get is to exchange £’s into $ or Euros in the UK before going on holiday for spending money, then using my English credit card on holiday to purchase bigger things. But not so!

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There are many ways to exchange currency that will cost you a lot, so DO NOT…..

Change your money at the airport! Today, if you exchange £1000 at the Gatwick airport at money corp it will get you $1663, but if you exchange the same £ at and collect you’ll get $1686. $23 more..not bad.

Do not assume (as I always have done!) that Post Office offer the best rate. That £1000 today will buy you $1638. I had also assumed that the supermarkets would give good currency rates too. Again not so. Sainsburys today would give you $1660.

Do not take the offer on paying in £’s when on holiday. My hotel in America asked if wanted to pay the room bill in £ or $’s. If I had taken the £ option they would have loaded a charge onto the exchange rate and my room bill would have been considerably more expensive.

In April I went to America with friends, we all got our money using different techniques….

Changing some cash in the UK, just before we went we ordered and collected from central london. Ordered from and got the rate 1.647 $ to £1. GOOD

We purchased stuff in America using my Tesco credit card got $1.635 to £1 BAD

We purchased stuff in America using a Fair FX pre paid card. got $1.654 to the £1 BEST

So the lesson is, if you want cash get it from best foreign exchange before you go and get yourself a Fair FX prepaid card for spending abroad. There are many of these pre purchase cards,Make you sure order the card via Topcashback and get £5ish cashback as well.  Just go to travel and foreign exchange for the options.

The FairFX Prepaid MasterCard® is a prepaid card that gives market-leading Euro and US Dollar exchange rates, low cash withdrawal fees and doesn’t charge for purchases made in the card currency.

Happy Holidays.

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EURO Info as well as at 29th July

£1000 will get you


1) Halifax Credit Card 1264 Euros 

2) Best Foreign Exchange as above will get you 1255 Euros

3) gets you 1252 Euros

4) The fairfx card will also work brilliantly with Euros.


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Lynn Beattie

Aka Mrs MummyPenny

Personal Finance Expert

I write about personal finance made simple, lifestyle choices that will save you time and money, as well as products and services that offer great value.

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