Alice Beer advises caution with exchange rates on holiday
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With the rising cost of living, many Britons may be worried about affording a holiday this year. Holiday prices are also expected to rise but Alice shared a few tips for Britons looking to cut costs.
She said: “You’ve got to be careful about this, because this is a big thing now.
“You’ve got to pay in local currency really to avoid extortionate exchange rates.
“The best way to do that is to make sure that your card that you’re using, whatever it is, from whatever bank, doesn’t charge you fees every time you withdraw money.
“Or every time you make a purchase. Lots of them do, some of them have fixed fees, some it’s a percentage.
“But there are lots and lots of companies that will not charge a fee. Starling Bank, Monzo, there are lots of cards.”
British tourists can also register for a currency card to avoid fees every time they withdraw money at an ATM.
When given the option to pay for the bill in pounds or foreign currency at a restaurant, Britons should always opt for local currency.
This is likely to offer the best exchange rate to save them the most money on their holiday in Europe.
Alice said that Britons could also consider booking a holiday for a different time of year than summer.
She said: “Have a look now, because everyone’s going to be going away on holiday and they’ll come back and everyone will be thinking ‘Oh I wish I was going’.
“Book it for October half-term. You’ve got time to save a little bit if you can. Holidays in the October half-term week are 29 percent cheaper than they are in August.
“So you can get much, much more for your money. It’s definitely worth doing and you can look forward to it all summer.”
Holly added: “And if you’re not limited by school holidays, then book whenever you want.”
Alice also said that budget flights might not be the cheapest option for Britons due to extra hidden costs.
She said: “I found a great flight from Gatwick to Alicante on a budget airline for £28.99. That’s your headline price.
“Fantastic. But that wasn’t really the cost because if I took a small wheelie suitcase that would fit in the cabin overhead locker, it was going to go up to a £134.98 by the time you’d done your two ways and your luggage etc.
“Whereas with British Airways, their standard economy fare lets you take the little wheelie on, was £160.92.
“Probably from an airport nearer to you, probably going to have more slots and more flexibility and probably at a better time.”
She added: “Be careful with the extras.”
British tourists could also be asked to pay more to choose their seating on a budget airline or to board first.
Britons are also being warned of astronomical rental car charges this summer due to manufacturing issues.
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