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The simple way to bag an extra €40 for your holiday

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Written by: Paloma Kubiak
26/07/2016
It’s peak holiday season so if you’re jetting away to Europe, here’s an easy way to get more euros for your pounds.

New analysis suggests that holidaymakers heading to Europe over the summer months could be collectively missing out on €265m by not buying currency in advance.

On an average £500 exchange for euros, Sainsbury’s Bank Travel Money research found that holidaymakers could receive just over 7% extra buying from a local bureau rather than from an airport kiosk.

It highlights the importance of purchasing holiday money in advance, rather than leaving it until the last minute -£500 exchanged and collected from a bureau in advance would receive the equivalent of €617.25.

Left to the last minute at the airport, £500 would get you €575.05 – a difference of €42.20.

See YourMoney.com’s Ultimate money-saving hacks for holidaymakers plus The big Brexit question: what should I do about buying holiday currency? For more information to get the best deals.

Plan ahead so you don’t miss out on the best rates

Simon Taylor, head of travel Money at Sainsbury’s Bank, said: “As peak holiday season is here we’d encourage anyone travelling to Europe this summer to plan ahead so they don’t miss out on the best rates. Our analysis shows on average holidaymakers could save €42 – enough for a lunch for two in Spain or perhaps a few drinks in France.”

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