Buying Currency Online vs Buying on the High Street: Save Money on Your Travel Cash

Sorting out your travel money is a vital part of holiday planning, but should you buy your currency online or stick to the high street? Both options have their perks, but one can save you significantly more money if you know what to look for.

In this guide, we’ll break down the pros and cons of buying currency online versus on the high street, helping you decide which option is best for your next trip.

Why Exchange Rates Matter

When buying currency, even a slight difference in the exchange rate can have a big impact on how much foreign cash you receive. For example, if you’re exchanging £500, an extra 2% on the exchange rate could mean an additional €10–15 in your pocket. That’s enough for a few coffees or a memorable local snack!

Let’s explore which option—online or high street—gives you the best value for your travel money.

Buying Currency Online

Pros of Buying Online:

• Better Exchange Rates: Online providers usually offer more competitive rates because they operate with lower overheads than high street stores.
• Easy Comparisons: Websites like CompareTravelCash.co.uk make it simple to compare rates from multiple providers in just a few clicks.
• Convenience: You can order your currency from the comfort of your home, avoiding the hassle of visiting multiple high street locations.
• Home Delivery or Click-and-Collect: Many online providers offer secure delivery services or allow you to collect your currency at a convenient location.

Cons of Buying Online:

• Planning Ahead: You’ll need to order your currency in advance, as same-day delivery is rarely available.
• Delivery Fees: While some providers offer free delivery, others may charge if you order below a certain threshold.

Pro Tip: Always use a provider regulated by the FCA (Financial Conduct Authority) to ensure your money is secure.

Buying Currency on the High Street

Pros of High Street Purchases:

• Instant Availability: If you need currency on the same day, high street bureaus can be a quick solution.
• Personal Service: You can ask questions and get immediate answers from the staff.
• No Delivery Wait: You leave the store with your currency in hand, avoiding any postal delays.

Cons of High Street Purchases:

• Lower Exchange Rates: High street providers often charge higher margins due to their operating costs.
• Limited Comparison Options: It’s harder to compare rates across multiple providers when shopping in person.
• Time-Consuming: Visiting different high street locations to find the best rate can take valuable time.

Online vs High Street: The Costs

Let’s compare a typical scenario:

• Online Provider: Exchange rate of €1.16 to £1.00 with free delivery for orders over £500.
• High Street Bureau: Exchange rate of €1.12 to £1.00.

If you exchange £500:

• Online: You’ll receive €580.
• High Street: You’ll receive €560.

That’s a difference of €20—enough for dinner or a fun activity on your holiday.

When to Choose Online Over High Street

• You Want the Best Exchange Rates: Online providers almost always offer better rates than high street bureaus.
• You’re Planning Ahead: Ordering online is ideal if you have at least a few days before your trip.
• You Value Convenience: With online ordering, there’s no need to travel to a store or wait in queues.

When to Choose the High Street Over Online

• You Need Currency Urgently: If you’re flying in a matter of hours and haven’t sorted your travel money, the high street is your best bet.
• You Prefer Face-to-Face Transactions: Some people feel more comfortable handling their exchange in person.

So the Clear Winner is…

For most UK travellers, buying currency online is the clear winner when it comes to saving money. With better exchange rates, easy comparisons, and the convenience of home delivery or click-and-collect, it’s a hassle-free way to get the most from your travel cash.

That said, the high street can still be useful in a pinch or for last-minute needs. Whichever option you choose, planning ahead and comparing rates is key to getting the best deal.

For the easiest way to compare rates and save money, visit CompareTravelCash.co.uk before your next trip. Your holiday budget will thank you!

Pro Tip: Even if you’re buying on the high street, check online rates first—they can often match or beat them if you ask!