![]() Sending money to a company you might not have heard of before can be unsettling. You don't want to be searching for the nearest currency exchange when you've just landed and you're desperate for a cup of tea - or a cocktail! Lastly, it can be handy to have some cash on you when you arrive at your destination so you can pay for any immediate expenses like food, transport and tips. It can be harder to spot scammers and fraudulent currency exchanges in Canada.Your bank may charge you a foreign transaction fee if you use it to buy Canadian dollars when you're abroad. ![]() You may have to pay commission or other hidden fees to a currency exchange that you wouldn't have paid in the UK.While there may be better exchange rates available in some locations, your options for shopping around may be limited once you arrive, and there's no guarantee the exchange rates will be any better than they are in the UK.Įxchange rates aside, here are some other reasons to avoid buying your Canadian dollars in Canada: There's no evidence to suggest that you'll get a better deal if you buy your Canadian dollars in Canada. Just remember to buy or reserve your Canadian dollars first before you collect them from the store so you benefit from the supplier's better online rate. Online travel money suppliers usually have better Canadian dollar rates than high street exchanges, but supermarkets are a good compromise if you want to collect your currency in person and still get a decent rate. If you need your Canadian dollars sooner and don't have time to wait for the rates to improve, you can still save money by comparing rates from a range of different providers before you buy. You could also consider signing up to our newsletter and we'll email the latest rates to you each month. This can be a good way of maximising your holiday money if the exchange rate continues to rise after you've bought, but will also help to minimise your losses if the rate drops. Some people prefer to buy half of their Canadian dollars as soon as they've booked their holiday, and the remaining half just before they depart. For example, if the Canadian dollar rate has been steadily increasing over several weeks or months, it could be a good time to buy while the rate is high. If you have a fixed travel date, you should start to monitor the Canadian dollar rates as soon as possible in the period leading up to your departure so that you've got time to buy when the rate is looking favourable. Timing is key if you want to maximise your Canadian dollars, but the best time to buy will depend on the current market conditions and your personal travel plans. We found 17 travel money suppliers offering £750 worth of Canadian dollars for delivery and accepting payment by debit card
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