SAVE MONEY ON A TRIP ABROAD
IF YOU’RE planning to go away soon, it pays to sort your finances ahead of your break. To make sure you’re fully prepared, here are some tips from RACHEL SPRINGALL, a finance expert at Moneyfacts.co.uk:
1. Organise foreign currency
THE convenience of using airport currency exchange kiosks can come at a cost. Even if you have just a few days to go, check online for current exchange rates to find the best deal.
It is worth keeping in mind that ‘click and collect’ rates are often more rewarding than just popping into a branch, as you can secure the rate of exchange. 2. Be wary when using a debit or credit card DEPENDING on who you bank with, some debit cards can charge as much as £9.50 for the equivalent of a £200 cash withdrawal abroad, while a credit card can charge £11.96 for the same transaction.
Consider applying for a credit card specifically for use abroad, or even switch current accounts to a cheaper alternative. There are credit cards that don’t charge a usage fee when used overseas.
3. Download an app to save a transport headache THERE are free apps that list public transport and can help consumers avoid relying on last-minute taxis. These apps also allows users to plan sightseeing tours, without the expense of a tour package.
Transport apps also allow last minute changes of plan, due to unpredictable factors like the weather, for example.
4. Check travel insurance cover NOT all travel insurance policies cover everything, so it is important to carefully check the terms and conditions before travelling. Some current accounts offer worldwide travel insurance cover as an add-on to their package.
And as well as following Rachel’s tips, it may also be worth checking what currency you’ve already got. Holidaymakers are hoarding just over £60 at home typically in foreign currencies, according to financial services provider Ramsdens – that could cover a weekly food shop.
Don’t just grab last minute cash