There are several ways you can save money travelling, but one way is to buy foreign currency by using a peer-to-peer exchange service like WeSwap or Revolut. They work via a credit card that you load up with spending money in sterling. When you use it abroad, instead of completing the transaction through a bank, it pairs you up with a person who has the currency you’re after on their card. As well as saving the hassle of exchanging sterling into your holiday currency, and then back again when you come home, cutting out the middle people saves you those transaction fees. At the time of writing, WeSwap says you’ll get €1,122 for £1,000. That’s €12 more than Travelex, and could be as much as €36 more than a bank transaction. Revolut provides similar rates but you’ll pay less for cash withdrawals under £200. The cards will hold multiple currencies too, so if you follow the money markets carefully you could craft a better deal buying different currencies at the right time. If you’re not so good at forward planning, one of the worst things you can do is buy currency in the airport. If you’ve got a specialist overseas credit card, like the Halifax Clarity or Creation Everyday, there will be no extra fees for using it abroad either. For cash in your pocket you can use moneysavingexpert.com’s Travel Money comparison tool to find the best exchange deals at the time of purchase.
Published in the October2018 issue of National Geographic Traveller (UK)