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Sally Wilson

Sally is a key member of the MoneyMaxim editorial team. She is a frequent hire-car user and often goes on holiday with her family. With an interest in getting great value for money, Sally shares her hints and tips for travelling and insurance.

Make sure you get a good rate for your travel money.

Buying your currency at Heathrow may mean less for your pounds.

foreign-money

Flying off on holiday from Heathrow this year? Used to pre booking your currency at Moneycorp and getting a great rate?

If so you could be in for a shock this year!

Moneycorp closed its Heathrow office in June and now the only provider of currency at the airport is Travelex. And the rates offered through their website are far from the most competitive.

More favourable rates can be found through other providers by ordering your travel money online before you get to the Airport with many of these offering free home delivery.

Company Rate Saving over
Travelex
Standard Rate
Euro Travel FX 1.4010 £8.85
Amex 1.3963
M&S 1.3951
Travelex 1.3886
Thai Baht Travel FX 52.9235 £27.02
ICICI Bank 52.9232
Telegraph Travel 52.4686
Travelex 51.4965
South African Rand Travel FX 19.3700 £15.60
ICICI Bank 19.3693
Griffin Financial 19.2600
Travelex 19.0678
US Dollars CEC 1.5365 £9.24
Travel FX 1.5360
M&S 1.5298
Travelex 1.5223

Correct as at 4th August 2015 assuming £1000 worth of currency.

When we checked even the 'preferential' rates offered by Travelex for Heathrow Rewards card members would have left most travellers significantly out of pocket.

More favourable rates can be found through other providers by ordering your travel money online before you get to the Airport with many of these offering free home delivery.

Do run a comparison though as rates vary depending on the amount required. For example the MoneyMaxim service shows that if you were to order £500 of US$, some of the more attractive rates can be found through supermarket chains.

Please also consider any fees for delivery when comparing deals. Often you can be charged for transactions costing less than £500. Collection is usually free of charge.

Image courtesy of: José A. Warletta