Expert shares why now is the best time to buy travel #money for future #holidays

TRAVEL money can prove a stone around one's neck when preparing to travel. There's little thrilling about buying currency and there's always the worry you might actually be losing out on money - an exchange rate expert has revealed why now is the best time to purchase.

PUBLISHED: 08:21, Thu, Nov 19, 2020 | UPDATED: 08:21, Thu, Nov 19, 2020

Share on FacebookShare on TwitterShare on LinkedInShare on PinterestCopy linkLink copied

The pound to euro exchange rate is not something the average person tracks closely but monitoring its movements can prove key to getting the most bang for your buck when buying travel money. Timing is key - which is why right now could well be your best chance to bag a good rate, experts have said. There has been very positive news regarding the coronavirus vaccine this week, lifting hopes that the travel sector will re-open soon.

{%=o.title%}
READ MORE
Royal travel: Kate Middleton’s four basic hand luggage items

Travellers have been urged to buy travel money imminently before the market becomes saturated once again and exchange rates weaken.

"For those consumers looking to book any holidays in 2021 and 2022, it would be wise to start buying up their foreign currency now before the value of foreign currency increases massively again," Shon Alam, founder of currency exchange platform Bidwedge, said.

"Next year, there will be a mad dash for Euros and Dollars, so British holidaymakers would be best placed to get ahead of the game."

Express.co.uk spoke exclusively to Alam for his travel advice on how best to buy money at this time - and make sure you're not getting ripped off.

"Don’t wait till the last minute; don’t buy from the airport - but most importantly, never use a credit card to buy money," Alam explained.

READ MORE: Google Maps Street View: Couple captured in cheeky position

holidays 2021 pound euro exchange rate travel money currency expert vaccine exclusiveHolidays: "British holidaymakers would be best placed to get ahead of the game" (Image: Getty Images)

holidays 2021 pound euro exchange rate travel money currency expert vaccine exclusiveHolidays 2021: Right now could well be your best chance to bag a good rate (Image: Getty Images)

"If you buy travel money on a credit card, the card company sees this as taking money off the card in cash, therefore it attracts a higher interest rate and an extra charge as with all card companies.

"It is also worth noting that with exchange services, credit card purchasing can - and does - charge a higher overall cost."

It's important holidaymakers protect themselves appropriately, too.

"If you use an online

read more.....

PREV Government's 'serious failures' leave people with disability 'deprived of ...
NEXT Murder charge following alleged brawl in Brisbane's east mogaznewsen