No-deal Brexit: should you buy your holiday money now? | Travel | The Guardian
There are a lot of forecasts out there but the truth is no one really knows. The drop in value of sterling since the vote has reduced the spending power of the British tourist.
- Buying euros to use on holiday!
- Use comparison websites!
- How do you get the best deal on travel money?.
- Best Euro to Pound Exchange Rate to UK Today.
- Pound GBP to Euro Exchange Rate (EUR)?
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While the rates may be poor compared to what has gone before, and there is the possibility that they may improve, buying currency now does give some peace of mind. Easiest is to use a comparison tool such as MoneySavingExpert to find the best rates and order from there.
Prepaid cards allow you to lock in the rate of exchange now by loading the card with the foreign currency of your choice.
Once abroad, you can then spend the money by withdrawing cash from an ATM or using it in the same way as a debit card. However, financial information firm Defaqto has warned that some prepaid cards have high fees or other catches, such as loading or renewal fees. It adds that many cannot be used for car hire, and customers might also have difficulties at places such as petrol stations.
One straightforward way to settle any concerns of missing out on future rises is to buy half your holiday money now and half later. But whichever way you choose to buy your euros, one golden rule remains — avoid buying currency in the airport at the last minute. For those looking to offset the problems with sterling and get some value for their break, there are ways to save, starting with where you are travelling to. Some currencies are weak against the pound, offering good value for British tourists. Bulgaria, a low-cost destination for both sun and skiing, has seen an increase of almost a third in the number of holiday bookings this year compared with So with so much instability ahead, should consumers bank their euros in advance of the holidays?
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