Sachin Walls
It is possible to change pounds to euros at the airport, but it is generally not recommended due to unfavourable exchange rates. Airports often have exchange desks where travellers can exchange money, but the rates can be uncompetitive, resulting in losses of up to 15%. However, in certain situations, such as emergencies or when travelling to a country with a different currency, exchanging money at the airport can be convenient. Some travellers prefer to carry some local currency before arriving at their destination, and airports provide a last opportunity to do so. Additionally, some airports offer competitive exchange rates through online pre-ordering and click-and-collect services, allowing travellers to bypass unfavourable exchange rates.
| Characteristics | Values |
|---|---|
| Should you change pounds to euros at the airport? | It is not advisable to change currency at the airport due to poor exchange rates. It is recommended to use a fee-free credit card, withdraw from an ATM, or exchange a small amount of cash for emergencies only. |
| Exchanging currency at the airport | It is possible to exchange currency at the airport, with exchange desks available at major airports. However, the exchange rate may be unfavourable, resulting in a loss of 5-15%. |
| Alternatives | It is suggested to wait and withdraw money upon arrival at your destination, as European airports usually have ATMs. Using a credit card for larger purchases and keeping some cash for emergencies is also recommended. |
| Currency exchange tips | It is important to know the approximate exchange rate. Spending coins before leaving a currency zone is advised, as they may become worthless in the next country. |
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What You'll Learn
Currency exchange desks at airports
When using currency exchange desks at airports, it is important to be aware of the exchange rates and any additional fees or commissions that may apply. In some cases, ordering currency online in advance and collecting it at the airport can offer better rates and help you save money. For example, Travelex, a popular currency exchange service available at Heathrow Airport, offers competitive rates and 0% commission on online orders with the option of click-and-collect purchases.
At major international airports, currency exchange desks are typically located in multiple terminals, both before and after security. For instance, at Heathrow Airport, Travelex has bureaux located in Terminals 2, 3, 4, and 5. These desks offer a wide range of currencies, often including popular options such as Euros, US Dollars, and prepaid cards.
While currency exchange desks at airports provide a convenient option for travellers, it is worth considering alternative methods of accessing foreign currency. Using a fee-free credit card or withdrawing money from ATMs at the airport or during your trip can often be more cost-effective. Additionally, carrying some local currency in cash before arriving can be helpful in case of unexpected expenses or if the ATM at the airport is not functioning.
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Withdrawing money at the airport
Airport ATMs typically charge transaction fees and may offer less favourable exchange rates compared to other options. These machines may not be affiliated with traditional banks, resulting in higher charges. Travellers are advised to use ATMs belonging to reputable local banks at the airport or in the city to avoid excessive fees. Additionally, it is recommended to withdraw money in the local currency rather than choosing to let the ATM perform the conversion, as this can result in unfavourable exchange rates.
To minimise fees, some travellers suggest obtaining foreign currency from their bank before travelling. This option provides comfort and convenience, especially if the bank offers competitive exchange rates and refunds ATM fees. However, it is essential to plan ahead and ensure sufficient time to obtain the desired amount of foreign currency from your bank.
For those who frequently travel or spend extended periods abroad, opening a multi-currency account can be beneficial. These accounts allow individuals to hold and manage multiple currencies in one place, eliminating the need to worry about exchange rates during their trip. Additionally, using a credit card with no foreign transaction fees can be a convenient and cost-effective alternative to withdrawing cash at the airport.
While withdrawing money at the airport is possible, it is important to consider the associated fees and exchange rates. Travellers should weigh the convenience of immediate access to cash against the potential costs. By planning ahead, individuals can often find more cost-effective ways to obtain foreign currency, such as ordering online or using a credit card with no foreign transaction fees.
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Using credit cards for purchases
It is possible to exchange pounds for euros at the airport, but it is not recommended due to the high exchange rates. It is suggested that you use a credit card with no foreign transaction fees and make purchases in the local currency to save money.
When travelling abroad, it is important to be mindful of the fees associated with using credit cards for purchases. These fees can include foreign transaction fees, which are typically around 2-3% of the transaction amount but can vary depending on the card or card issuer. Some credit cards may also charge dynamic currency conversion (DCC) fees, which allow you to view and make purchases in your home currency. However, these fees are often hidden and can add up quickly.
To avoid these fees, it is recommended to select a travel credit card that does not charge foreign transaction fees. It is also generally better to pay in the local currency, as this can help you save money. Currency conversion apps can be a useful tool to understand pricing and identify hidden charges. Additionally, using a credit card with no foreign transaction fees can be a simple way to get the best exchange rate and avoid extra charges.
If you are travelling to Europe, it is worth considering a credit card that does not charge foreign transaction fees, such as the Revolut card mentioned by a user on Reddit. This card allows you to exchange your dollars to euros at the going rate with no exchange fees, and it can be used almost everywhere.
While using credit cards for purchases can be a convenient option when travelling, it is important to be mindful of the potential fees and to select the right type of credit card to minimise these costs. Additionally, it is always a good idea to have some local cash on hand, especially when arriving at your destination, as not all vendors may accept card payments.
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Spending leftover coins
It is advisable to exchange currencies before the end of your trip. Leftover currency can be exchanged at banks, airports, or online platforms, but the exchange rate is often unfavourable, and many banks and airports do not accept coins.
- Spend them at the airport: Airports usually have duty-free shops, restaurants, and cafes where you can spend your leftover coins on souvenirs, snacks, or a meal before your flight. Some airports also have collection boxes where you can donate your spare change to charities like UNICEF, which accepts foreign currencies as part of its Change for Good program.
- Use them for travel-related expenses: If you plan to take a taxi or need to pay any remaining hotel bills, you can use your leftover coins instead of a credit card.
- Exchange them: Although the exchange rate may not be favourable, you can exchange your leftover coins at a currency exchange counter at the airport or a bank. Some currency exchange services offer \"buyback\" programs with better rates or lower fees for customers exchanging leftover currency.
- Donate them: Consider donating your leftover coins to a charity or organization that accepts foreign currency donations, such as UNICEF.
- Save them for your next trip: If you plan to revisit the same country or know someone who is travelling there, you can save your leftover coins for your next trip or give them to a friend or family member who can use them.
- Use them for small purchases: Before leaving the currency zone, try to spend your leftover coins on small purchases, such as knick-knacks, snacks, or even a cup of coffee.
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Ordering currency for collection at the airport
It is possible to change pounds to euros at the airport, but it is not recommended due to poor exchange rates and additional fees. Airport exchanges can charge up to 17% more than the current International Monetary Fund (IMF) exchange rate, and may also charge extra fees on top of this.
A better option is to order your currency in advance and collect it at the airport. This way, you can take advantage of competitive exchange rates and avoid any hidden charges or commission fees. Here is a step-by-step guide to ordering currency for collection at the airport:
- Choose a currency exchange service: Some popular options include Travelex and your local bank.
- Place your order: You can usually do this through the provider's website or mobile app, or by phone. Specify the currency and amount you need, and select the “click and collect” or “ATM click and collect” option for your chosen airport.
- Timing: For some currencies, you may need to place your order at least 4 hours in advance.
- Pick up your currency: At the airport, locate the currency exchange store or ATM where you can collect your order. These are usually located before and after security in the departure terminals. Remember to bring identification and any other necessary documents.
By ordering your currency in advance, you can benefit from better exchange rates and have the convenience of collecting your cash at the airport before your flight.
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Frequently asked questions
Yes, you can exchange pounds for euros at the airport. For example, Heathrow Airport has exchange bureaus and ATMs where you can obtain euros.
It is recommended to order at least 4 hours in advance for pickup.
Ordering currency in advance can save you time and money. You can take advantage of competitive rates and avoid paying commission fees.
Exchanging currency at the airport is convenient, especially if you need cash for unexpected expenses such as a taxi.
Exchanging currency at the airport can be expensive, with rates potentially up to 15% worse than elsewhere.
