5 easy ways to save money on travel money exchange rates

Glasgow Times

12-05-2025

But, there's always a huge amount to do before we go away, so Ban Mahsoub, future partnerships and money services director at Tesco Insurance and Money Services has put together some easy ways to save money when buying your travel money.
Ban says it's worth taking physical cash, as well as cards on holiday: 'While paying with a card is becoming more and more popular, there are several benefits to keeping cash on you whilst travelling abroad.
"Whether it's tipping, avoiding foreign transaction fees, or simply making everyday purchases, having cash on hand can make life easier. It's also invaluable in emergencies.
"Unlike cards or contactless payments, cash doesn't rely on electricity or internet access and is accepted in most places abroad. Keeping a few notes in your wallet ensures you're covered if you come across cash-only spots or face unexpected power outages.'
Five holiday money tips from the experts
Exchange your currency before you go on holiday
Forgetting to change money into the local currency is something almost all of us have done, but it can leave you out of pocket, especially if you leave it so late you need to do it at the airport. Exchanging before you travel means you can shop around for the best deals.
A lot of travel bureaus offer a click and collect service and some will price match the best deals. Stores with a bureau can have your order ready as quickly as the following day. Customers with a Tesco Clubcard are eligible for Clubcard Prices discount on travel money when buying their currency in a Tesco store or online. For even more convenience, Tesco Travel Money also offers home delivery.
Why you should exchange money before your holiday
Airport exchange rates are notoriously poor, and exchange bureaus abroad often come with high transaction fees. Sorting your currency in advance not only means you're likely to get a much better exchange rate, but also gives you peace of mind in case you arrive and can't immediately access an ATM or bureau. It also means you won't get caught out abroad without cash when you need it most or stung by unexpected ATM fees.
Check your fees and exchange rates when paying with cards
Before you use your debit or credit card abroad to make purchases, it's important to check with your bank whether you'll be charged any fees for making purchases or withdrawing cash. Remember, when paying, choose the local currency as it will usually be cheaper than paying in your own currency. Even if your card is your preferred method of payment, it's always a good idea to carry some cash with you to pay for taxis, excursions, tipping and general expenses that might come up during the first few days of your holiday.
Think carefully when withdrawing cash
If you don't like the idea of carrying too much cash with you but want to avoid card fees for withdrawing cash abroad, a Multi-currency Cash Passport could be a good option. This is a prepaid travel money card that you can buy in store at Tesco's Travel Money Bureaux or online and load with up to 10 currencies before you go.
If you have cash left over at the end of your holiday, Tesco Travel Money buys back most foreign banknotes in the currencies it sells – even if you bought them elsewhere. Customers who also purchase Tesco's Buy Back Promise when ordering their travel money through them can return the currency at the rate they bought it, which may save them money.
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How to carry your money while exploring
Keep your cards, along with your passport and other vital documents as close to you as possible when you're out and about. Ban recommends recommend always having them on you, so you may want to buy a small cross body bag or a money belt to wear under your clothes, so that if you are carrying other things, you can put them down safely when eating or lounging, knowing that your most important belongings are still carried. This can depend on your location though, so follow local advice.
Stay safe on holiday - don't carry all your money on you
When possible, ensure your cards and cash are split evenly between several people, so more than one adult carries cards and cash, rather than one person looking after all the cards and another after all the cash.
This way, if one person loses their wallet, you still have access to both means. Whether you're travelling alone or with a group, avoid carrying all your cash with you every day and leave some at your accommodation, in a safe. This can be your backup plan if you lose access to your money during a day out.