Travel Money: Dealing with leftover foreign currency?

Travel Money: How to deal with my leftover currency?

Depending on how you budgeted and organised your travel costs or holiday travel, you can be stuck with a few measly coins and a folded up note or a pile of foreign money.

The good news is there are ways on how you can avoid the feeling of being exhausted on what to do with your unspent currency. Here is how you can make use of any unspent foreign bill.

What to do with my leftover travel money?

There’s no need to be exhausted in thinking of what you can do with your leftover currency. If you plan of visiting a country that accepts your leftover currency, you can keep it for your next trip. Just keep it safe so you can access it easily the next time you need it.

You can also find a high street travel money provider and exchange it back into pound sterling.

Should you prefer to give it away, you can give it to your friends or family who will take a trip to a country that accepts your leftover foreign currency. You can also donate them to your preferred charity.

Exchanging your currency back

You can convert the leftover currency back if you don’t have plans to visit or take a trip in the near future.

However, if you see that the exchange rate is lower, the tendency of getting back lesser money is likely to happen. If this happens, you might get hold of it and try to exchange it later when the rate is better.

Moreover waiting to exchange the money for the rates to go up could take much longer as it would likely go down drastically. Besides, most providers are likely to convert foreign notes rather than coins.

What is buy back?

Buy back allows you to swap unused foreign money back into a pound sterling after your travel.

The same with buying foreign currency, you’ll be offered with an exchange rate. This means you can either get more or less in terms of offers.

Guaranteed buy back

Guaranteed buy back allows you to sell your foreign currency at the same rate during your first exchanged. This process is not for free, it will cost you up to £4 for a guaranteed buy back.

If the rates increased the time you want to exchange your foreign money, you can look for deals that help you save more than having a guaranteed buy back.

Keep it for next trip

If you have plans to visit the same country or take another trip to a country that accepts your leftover currency, you can keep the foreign currency instead. By means of keeping it for your next trip, you can avoid paying for exchange fees and other charges.

Should you need to exchange your leftover currency, make sure to find for the best deals.

Selling to friends or family

Giving away your left over currency to family or friends means not getting any money back out of it. Instead, you can try the following options:

1. Exchanging any left over travel money from each other’s trips overseas as a standing deal that can both help you avoid the exchange costs.

2. Selling your money to friends or family that helps you avoid costs when using a company.

Donating it to charity

You can also donate your leftover holiday travel money to a particular charity that accepts the foreign currency.

Another option is giving it to airlines that accept foreign coin donations during return flights to the UK. Some of which are in airports collection points.

Tips for your next trip

It can save you time and any hassle if you can avoid having any leftover foreign currency. If you can use cash, make sure that you stick to your budget and take a bit more just in case you tend to overspend.

When using your card, you have to inform your provider that you’ll be using your card abroad to avoid restrictions on your card and the possibility of being blocked.

For further details, read our guide on the best way to spend abroad before you take a holiday trip.