Since Brexit the pound has weakened dramatically against the euro and the dollar, leading to unexpected extra costs for British holidaymakers heading to the eurozone and the USA. Although the pound is now showing small signs of starting to recover, it’s worth thinking about how you can avoid falling foul of the harsh currency exchange rates. Here are a few ways you can pinch the pounds on your summer holiday.
When exchange rates are as low as they are, the best strategy is just to avoid having to buy in foreign currency. If you book an all inclusive deal, all your meals, drinks snacks and possibly some activities will be included in your package and you’ll pay for it in pounds. It’s probably wise to still take a few euros in case you need them, but if all your essentials are included in your holiday package it’s easy to stop yourself from spending excessively.
Exchanging your holiday money on the day at the airport is a guaranteed way to lose out – airport exchange bureaus always offer the worst rates. The easiest way to make sure you’re getting the best rate is to use a travel money comparison site to see what different companies are offering, and it’s also worth checking high street stores and the Post Office, who have to keep their prices competitive.
WeSwap is an app that’s best described as social currency exchange – you tell them which currency you need and they allow you to ‘swap money’ with a fellow traveller. They have extremely competitive rates and regularly beat the leading currency exchange bureaus; we compared it with the Post Office and found that for £500 WeSwap would give you €591, compared to just €580 from the Post Office.
If this wasn’t enough, right now you can get £10 free travel money when you go through icelolly.com! Get started via our Holiday Extras page.
Of course if you want to avoid the exchange rate all together, you can always stay in the UK! With a Spanish-style heatwave heading our way this summer, there’s no reason why you can’t enjoy a gorgeous staycation in a cottage on the coast of Cornwall, or in the beautiful scenery of the Lake District.