Top tips to help your money go further

By | Category: Travel news, Travel tips & opinions

Here at CD-Traveller towers, we suspect that there are two types of people reading this website. There are those who will look back on Easter and say “that was an eggscellent trip” and there are those who will have laid in bed worrying about the recession.

If you fall into the second category, then we have some good news for you! There are plenty of places you can visit this Easter,  that don’t require you to remortgage the house. We asked Rupert Bedell, head of marketing at Moneycorp, to reveal the best places to visitwhere favourable exchange rates mean a great value holiday. Bedell also shares his top tips for people taking money abroad this Easter – and beyond…

Top places to visit
·         The euro is up nearly four per cent for the first part of March against 2011. The Eurozone crisis is still a major concern for financial markets around the world but it’s great for holidaymakers, giving an average 1.196 EUR to GBP.

·         Turkish Lira has seen a 16, 8 and 9 per cent positive change from 2011 levels, giving travellers the opportunity to lap up some sun with an improved rate.

·         Travellers thinking about Europe but looking for more for their money, should consider Poland. The Polish zloty gives travellers a greater return for their pound than the Euro. January, February and March had 5.27, 4.99 and 4.91 zloty to the pound.

·         Casablanca in The Kingdom of Morocco is the gateway between Europe and North Africa. Over the past two months the dirham has seen good increases over its 2011 level, delivering a solid 13 dirham to the pound.

·         Czech Republic could be the destination of choice for money conscious travellers this Easter and beyond. The koruna gives travellers nearly 30 koruna to the pound.

·         US dollar has strengthened over February and March giving travellers two per cent less dollars than 2011, so it’s an ideal time for travellers to take advantage of the best exchange rates.

Top tips for taking money abroad

Be prepared for your arrival!
The first thing you’ll need cash for when you land is probably a taxi, and you’ll need small denominations of currency for tips. Make sure you understand the tipping system – you won’t want to tip your hotel porter with a €50 note…

If you’re taking a large sum of money, consider a pre-paid currency card
They are easy to use and don’t normally incur ATM fees. Currency cards are also the most secure way of carrying your currency, because there is no link to your bank account. If you lose it, you can phone up to get a replacement card. Think of it as a 21st century travellers cheque!

If time is short, order currency online for airport or home delivery
It’s quick and safe, and you will normally get more for your money than using a bureau de change.

If you need to use a bureau de change abroad – haggle!
Like most things in life, if you ask for a discount, you may well get one – especially if you offer to exchange more currency.

Warn your bank that you’re going away
Banks and credit card companies may block foreign transactions as a means of fraud protection, if you forget to inform your bank you are going overseas. It’s worth taking extra cash in case this happens.

Buy before you leave
When you are abroad, ATMs, bureaux de change and hotel concierges can be costly, with poor exchange rates, high commission levels and hidden fees.

Changing back to sterling doesn’t need to cost you
Most travel money companies offer a ‘buyback’ service, where they will buy your currency back at the same rate you bought it.

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