The simple answer is yes! If you are travelling overseas you may need to exchange your currency into another currency and your bank is one type of currency provider. However a bank will not necessarily offer you the best foreign exchange rate. When travelling abroad it is best to shop around for yourtravel money in order to get the best deal. Online comparison sites such as Compare Currency offer an easy way of comparing the exchange rates and commission charged by the UK’s leading providers in foreign currency exchange. You can then make an informed decision as to who is offering the best deal on that day. Online foreign exchange providers offer extremely competitive rates and a free next day home delivery service on certain quantities of currency ordered and will generally give you far more currency for your pound than a bank will! For more information on minimum order requirements visit the travel money comparison table.
What to do with left over currency?
When returning from a trip abroad many individuals are left with some foreign currency. Banks and online foreign exchange company’s offer buy back schemes whereby you can sell your currency once you have returned home and get it converted back into pounds. However you will only be able to exchange notes, any leftover coins should either be saved for your next trip or spent in the airport. You will find that when the time comes to convert your currency back into pounds sterling the online currency providers are likely to offer more competitive rates than the banks.
For more information about travel money check out our travel money guide.
