Sachin Walls
Heathrow Airport offers currency exchange services, allowing travellers to change their money before their trip. However, is this a good idea? With over 30 Travelex locations across the airport, changing money at Heathrow is convenient, but the exchange rates and fees might not be the most competitive. This article will explore the options available for exchanging currency at Heathrow Airport and discuss whether it is the best choice for travellers.
| Characteristics | Values |
|---|---|
| Number of exchange desks | 10 |
| Companies operating at the airport | Moneycorp, Travelex, American Express, Thomas Cook, International Currency Exchange (ICE) |
| Number of currencies available | 50-80 |
| Examples of currencies available | Euros, Dollars, UAE Dirham, Vietnamese Dong |
| Exchange rates | Vary, may not be competitive |
| Commission | Usually charged at the airport, may be high |
| Online ordering | Possible with Travelex, Moneycorp, Post Office, Wise |
| Prepaid travel cards | Available with Travelex, Wise |
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What You'll Learn
Where to exchange money at Heathrow Airport
Heathrow Airport has plenty of bureau de change desks across its four terminals. However, it's worth noting that airport currency exchanges may not offer the best rates. Travelex is the only option for currency exchange within Heathrow Airport. They have branches before and after security and in the arrivals and baggage reclaim halls in all four terminals. You can also order your travel money online and collect it from one of their stores or ATMs in the airport. They offer over 50 currencies, including Euros, Dollars, and Vietnamese Dong.
If you don't have time to pre-order, you can still visit any Travelex store in the airport to purchase your currency. Their staff will be able to help with all your currency needs and provide travel money tips for your trip.
Alternatively, instead of exchanging currency at the airport, you could order a prepaid travel card and add money in pounds. You can then use this card to make cash withdrawals at your destination with great exchange rates and no hassle.
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The best exchange rates at Heathrow Airport
Heathrow Airport has plenty of bureau de change desks located throughout its four terminals. While airport currency exchanges can be expensive due to a lack of local competition, there are still some good options for exchanging money at Heathrow Airport.
The only currency exchange service available at Heathrow Airport is Travelex, which has branches before and after security and in the arrivals and baggage reclaim halls in all four terminals. Travelex offers best exchange rates on up to 60 currencies, including Euros, Dollars, and UAE Dirham. You can pay no commission on online orders and zero fees for click-and-collect purchases. You can also top up your card with any of 22 available currencies.
American Express outlets are located at terminals one, three and four before and after security, arrivals and baggage reclaim. They offer great rates on foreign currency and travellers cheques.
Thomas Cook is another option, with nine branches throughout terminal five.
If you want to avoid the currency exchange desks altogether, you could consider ordering a prepaid travel card online in advance, such as Wise or Revolut. These cards can be used to make cheap and convenient payments and withdrawals with low or no fees and great exchange rates.
Another option is to reserve your travel money online and pay on collection in-store at No1 Currency Exchange, located in Heathrow Tube Station. They offer great exchange rates and 0% commission.
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Comparing exchange rates at Heathrow Airport
Heathrow Airport offers various options for exchanging money, but the exchange rates and fees may not be the most competitive. Here is a comparison of the different exchange rates available at Heathrow Airport:
Over-the-Counter Service
This option allows you to exchange money instantly by visiting a currency exchange desk and paying with cash or card. Heathrow Airport has several currency exchange desks operated by Travelex, located before and after security in all four terminals. American Express and Thomas Cook are also present in some terminals. However, this convenience comes at a cost, with high fees and unfavourable exchange rates compared to other options.
Online Pre-Order
Some providers, like Travelex and CXI, offer the ability to order foreign currency online and collect it at the airport. Pre-ordering can often secure a better exchange rate and ensures the desired currency is available for collection. Additionally, Travelex offers a “click and collect" service with no commission on online orders and zero fees for click-and-collect purchases.
ATMs
Using an ATM at Heathrow Airport is another option for obtaining foreign currency. Withdrawing cash directly from your account using a Visa, Mastercard, or Amex card can offer a fair exchange rate, especially if you use an ATM within the airport that provides currency exchange services, such as the International Currency Exchange (ICE) located in the Heathrow Airport London Underground Station.
Multi-Currency Accounts and Cards
Rather than exchanging physical currency, consider using a multi-currency account or travel card, such as those offered by Wise. These options often provide more favourable exchange rates, flexible spending, and lower overall costs. Wise, for example, uses the mid-market exchange rate without any markups or hidden fees, ensuring you get excellent value for your money.
In summary, while Heathrow Airport provides multiple currency exchange options, it is advisable to compare rates and consider alternatives like online pre-ordering or using a multi-currency account to ensure you get the most value for your money.
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Buying currency in advance at Heathrow Airport
Heathrow Airport offers currency exchange services, but it is not the best idea to change money at the airport due to the high fees and uncompetitive exchange rates.
If you are looking to buy currency in advance at Heathrow Airport, you can order your money online and collect it from one of the bureaux located before and after security across all terminals. Travelex, the exclusive foreign exchange partner at Heathrow Airport, offers over 50 currencies for online purchase and collection at the airport. They also provide a travel money card that you can preload with foreign currency and use for ATM withdrawals and purchases abroad.
Alternatively, you can order a prepaid travel card, such as the Wise card, which offers low fees and a multi-currency account supporting over 40 currencies. With Wise, you can make ATM withdrawals and payments in the local currency at a low conversion fee.
Another option is to order your money online and get it delivered to your home or a nearby branch before your trip. The Post Office, for example, offers currency exchange with improved rates for larger purchases, 0% commission, and competitive rates on over 70 foreign currencies.
By ordering your currency in advance or opting for a prepaid travel card, you can take advantage of better exchange rates and lower fees compared to exchanging money at the airport.
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Currency exchange alternatives at Heathrow Airport
Heathrow Airport has plenty of bureau de change desks situated throughout its four terminals. However, exchanging money at the airport may not be the best idea due to the rates being less competitive and higher fees. There are several alternatives to consider before changing your money at Heathrow Airport.
Firstly, you can order your money online in advance and get it delivered to your home or a nearby branch before your trip. This option provides a wider variety of providers, allowing you to find better exchange rates and potentially lower fees. For instance, the Post Office offers improved rates for larger purchases, charges 0% commission, and provides competitive rates for over 70 foreign currencies.
Another alternative is to use a travel money card, such as the one offered by Wise. With this option, you can open a multi-currency account and get a card to make ATM withdrawals and payments in the local currency while travelling. The Wise card has a low one-time order fee, no minimum balance, and no ongoing fees. It supports over 40 currencies and automatically converts currency at the mid-market rate with minimal fees.
Additionally, if you have a debit card with low or no foreign transaction fees, such as the Wise or Revolut cards, you may consider making an ATM withdrawal upon your arrival at your destination. ATMs are easily accessible at most airports globally and can help you avoid the potentially unfavourable rates and fees at airport currency exchange desks.
Lastly, if you are looking for a more traditional currency exchange service, you can compare the rates and fees offered by different providers outside of the airport setting. For example, in addition to Travelex, you can explore the rates provided by American Express and Thomas Cook, both of which have branches at Heathrow Airport. By comparing these alternatives, you can make a more informed decision and potentially find better value for your currency exchange needs.
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Frequently asked questions
Yes, you can exchange money at Heathrow Airport. There are exchange desks in all four terminals, both before and after security.
There are two companies operating in every terminal at Heathrow Airport: Moneycorp and Travelex.
Exchange rates at airport currency exchanges tend to be less competitive than those found elsewhere. It is recommended that you order your currency online in advance to get the best exchange rates rather than changing it at the airport when you arrive.
Ordering currency online in advance allows you to compare exchange rates and find the best deal. You may also be able to get lower or zero commission on your transaction.
