Compare the best online rate for your holiday money
After ALL charges (incl. delivery) 50000 Yen costs you the following in pounds:
Last updated: 1 hr ago - Cards: 1 hr ago
Most credit and debit cards add a hidden 3% load when you spend overseas, so £100 of dollars or euros costs £103. But a few free specialist credit cards are load-free worldwide, smashing bureaux de change giving you permanently unbeatable rates everywhere.
If you go abroad at least annually and have a decent credit score, it’s worth grabbing one just for holidays.
Perfect exchange rate, zero ATM fee and lower cash withdrawal interest. Full info.
Rep APR: 12.9% ATM: 0%
Perfect exchange rate, plus up to 1.25% cashback on UK spending. 3% (min £3) ATM fee. Full info.
Rep APR: 19.9% ATM: 3%
Perfect exchange rate, no interest on cash withdrawals but does charge fee. Full info.
Rep APR: 11.9% ATM: 2%
Perfect exchange rate, 2.5% (min £3) ATM fee & 24.1% APR on withdrawals. Full info.
Rep APR: 24.1% ATM: 2.5%
"Only do this if you will always repay IN FULL so there’s no interest on spending"
There will be some on cash withdrawals at around £1-3 per £100 for a month
For a full comparison, tips for using them well & charges breakdown see Travel Money (APR Examples).
If you fail to repay in full, the representative APRs are 11.9% to 16.9%
Q. Is it easy to get accepted for these cards? That depends on your credit score. Use our Eligibility Checker to find with which you've the best acceptance odds.
Q. Is there time to get one?They can take 1 ‐ 3 weeks to get, though usually come quite quickly, so factor that into your decision (and even if it’s too late, it’s worth considering getting one now for next time)
Q. What about debit or prepaid cards? There are two load-free debit cards for spending abroad, though that means changing bank accounts. Alternatively if your credit score isn’t up to a credit card (or you don’t trust yourself), check out the top prepaid cards overseas though here you get the rate on the day you buy the currency, not when you spend it.
The amount of time you have between now and when you go abroad changes the options we can give you for the cheapest way to get holiday money.
The top specialist credit cards thrash bureaux de change on price, but you need to allow 1-3 weeks to get one, so they're no good for anyone travelling in the next week.
You're a captive customer at an airport or ferry terminal, so you'll probably be lumbered with the worst rates possible.
If you must get it from the airport, pre-order for pick-up to get a better rate (usually possible until four hours beforehand). Use the search on the left, selecting 'Airport pickup', and this will list the providers that allow you to do this.
We just wanted to ensure you were aware of the impact of what you're doing before buying this far ahead.
You are currency speculating. By buying at today's rates for a decent time ahead, you are in effect taking a gamble on currency rate moves. In other words if the pound gets weaker you would gain by buying now, if it gets stronger you lose.
Beware letting the bureaux hold your money. When buying this far ahead of a trip, always check whether the bureaux de change is going to send you the cash straight away. If it isn't you are taking a risk.
There is very little protection with bureaux de change transactions. For example if it went bust while it was holding your money, you are unlikely to get that cash back - so the longer it's holding your money for, the bigger the risk. Find out more about bureaux de change protection
Don't show this againWe provide the information below if you choose to continue, for the sake of rate comparison only...
ContinueSome smaller travel money delivery firms request you pay by cash, cheque or bank transfer rather than using a card for payment. Before you do this it is important to remember, these companies don't have any form of compensation scheme if one of them goes bust with your cash - so you're on your own.
Yet when you make a payment by debit or credit card, you have more chance of getting your money back if the company you're paying went bust, than just sending them the cash. Also it's likely the currency provider will have your dough for a shorter period, decreasing any risk.
While this is untested for travel money transactions - it at least means you have a potential secondary route (your card provider) to getting your money back. The rules that apply are as follows.
For further information on these protections, and their limitations, plus how to make a claim through them, read the full Visa chargeback & section 75 guide.
If you use a bureau de change to exchange cash, and it goes bust while it has your money, you have no protection. This is why we warn against using these firms to buy money a long time in advance, but it even means there is slight risk to using delivery options - handing over your pile of cash in return for theirs is the safest route.
There are a couple of different levels of regulation for bureaux, but the golden rule is
If ANY bureau goes bust when it has your money, you're NOT protected.
Don't let it hold your cash for any longer than needed.
Usually this isn’t a problem, but on rare occasions it can be and there’s little recourse. For this reason we reiterate this is a ‘travel money’ tool for small holiday transactions, not a tool for sending large amounts abroad (eg, for buying a house) ‐ see Sending Money Overseas for that.
Bureaux de change don’t have to be registered with the regulator, the Financial Conduct Authority (FCA) , because they are not viewed as providing a payment service - instead the business is simply seen as selling you a good (foreign cash) like your corner shop would sell a tin of baked beans (we’ve lobbied for this to be changed).
What advantages does FCA authorisation give?
Companies with this level of regulation for payment services have to meet specific 'capital requirements' - basically meaning its money and assets will have to be set up in a certain way, so it's been checked out a little more. It also must provide all customers with specific info about transactions, applicable charges and how to complain - Find out more.
Banks, building societies, the Post Office and certain other public bodies can operate in this market without explicit authorisation, as the FCA is supervising them more closely already for other aspects of their business, and indeed these big trusted brands are probably a less risky option than a smaller bureaux de change.
What about the other types of regulation ?
Some smaller firms are FCA-registered, rather than authorised. They must disclose the same information to customers, but don't have to meet the same solvency criteria as if they were authorised, making this level of regulation far weaker.
What companies are included in this tool?
As well as being at least FCA authorised, all the companies in the TravelMoneyMax tool are registered with HM Revenue and Customs under the Money Laundering Regulations which means it must have put in place certain controls to prevent it being used for money laundering by criminals and terrorists. For full details, read HMRC's guide.
Though again, we stress, that still doesn’t mean you have any protection from them going bust – and we do not make solvency check on inclusion, it’s just an automated list.
Where credit cards or loans use a representative APR, this means that 51% of successful applicants will be given the stated interest rate.
With credit cards, the rate for purchases (as opposed to balance transfers or cash withdrawals) is used as the main rate to advertise the card.
So if that is described as 19.9% representative APR, then 51% of people accepted will get 19.9% APR, but 49% will get a different rate (likely to be higher).
Loans are slightly simpler as they only have one rate. So if a loan is advertised as being 7.5% representative APR, this means 51% of accepted applicants will get 7.5%, and 49% will get a different rate (likely to be higher).
Of course, some people will be rejected outright for the card or loan too.
Martin Lewis is a registered trade mark belonging to Martin S Lewis.
About the Site | MSE's Editorial Code | Site's Funding | Sitemap | Jobs | Accessibility | Email FAQs | Site FAQs | Forum Rules | New to Forum? | Contacts
Where credit cards or loans use a representative APR, this means that 51% of successful applicants will be given the stated interest rate.
With credit cards, the rate for purchases (as opposed to balance transfers or cash withdrawals) is used as the main rate to advertise the card.
So if that is described as 19.9% representative APR, then 51% of people accepted will get 19.9% APR, but 49% will get a different rate (likely to be higher).
Loans are slightly simpler as they only have one rate. So if a loan is advertised as being 7.5% representative APR, this means 51% of accepted applicants will get 7.5%, and 49% will get a different rate (likely to be higher).
Of course, some people will be rejected outright for the card or loan too.