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Today’s best exchange rates

How do you get the best holiday money exchange rate, use our currency converter, high exchange rates, delivery charges, special offers, pros and cons, five golden rules of travel money, 1. know how much cash you'll need.

Carrying around a large amount of cash isn't the safest thing to do. At the same time, not having enough cash can cause a lot headaches too. It's a good idea to take a little more than you think you'll need.

But it's also good sense to have a backup prepaid , debit or travel credit card that you can rely on - assuming you're going to a destination that widely accepts card transactions.

2. Shop around

Not all currency exchange companies are created equal. Some may have good exchange rates, but higher fees. Others may have higher rates, but no fees. You have to make sure which one offers the best value to you.

This is why it’s worth comparing the deals on offer from several companies before ordering your travel money. Factor in the fees and the exchange rate and see where you end up better off. Often the amount of money you're exchanging can be a deciding factor.

3. Don't buy your travel money at the airport

Airport holiday money providers have notoriously high prices because they offer a last-chance solution for those who are just about to board a plane. By planning ahead you can save a small fortune.

4. Don't carry too many large notes

Notes of large denominations can be tricky, as small shops and taxi cabs, which are more likely to require cash, might not have enough change to accept a large note.

Some retailers are also often wary of accepting large notes. Smaller notes and change can also be handy when it comes to tipping or buying small everyday items.

5. Don't use your credit card to buy travel money

Avoid buying foreign currency with a credit card as credit card providers treat the transaction as a 'cash advance' . Not only will you be charged daily interest, you're also likely to be hit with a fee.

Budgeting for your holiday

How much travel money you need to take depends on your plans. You'll need to budget for your holiday to make sure you don't run out of money before the end.

Deciding how much money to take depends on were you're going, whether debit or credit card usage is prevalent, and if you want to have some local currency on hand for emergencies.

Having some cash is extremely important, as there's always a possibility your cards could get declined or blocked for some reason, and it may take some time to resolve the issue.

Also, some countries still rely predominantly on cash transactions, so you should factor that into how much cash you decide to take.

What are the top alternatives to buying travel money?

Travel credit cards.

Travel credit cards - i.e. the ones with  no foreign transaction fees  - offer two key advantages over travel money:

Great exchange rates  - when you spend on a travel credit card you get the Mastercard or Visa exchange rate, which is about the best you can find as a regular consumer

Purchase protection  – for purchases costing between £100 and £30,000 you're covered by  Section 75 of the consumer credit act , meaning if something goes wrong you can make a claim with your card provider should the vendor fail to pay up

However, not everywhere accepts travel credit cards and using them at a cash machine abroad can come with hefty fees. It can also be easier to overspend on a credit card, leaving you with debts on which interest is charged.

Travel money cards

Currency cards and travel bank accounts let you spend overseas without being charged a foreign transaction fee. Their key strengths are:

Great exchange rates  - you card provider will pass on the Mastercard or Visa rate to you without adding extra charges

No charges for ATM use overseas  - if you need extra cash on holiday, you can withdraw it without being charged by your provider. Watch out for local ATM fees though, as these might still apply 

The downsides include that there can be limits on how much you can withdraw abroad using a travel money card, and that they're not accepted quite as widely as cash. Some travel current accounts also come with fees.

Prepaid travel cards

Prepaid travel cards  can be loaded with currency and used abroad without paying foreign exchange fees. You can load a prepaid card with a specific foreign currency or a variety of different currencies, depending on your travel plans. The key advantages are:

Low or no fees to use abroad  – prepaid travel card providers charge far less than traditional banks for overseas usage

Safer than carrying cash  - you can cancel or freeze the card if it's lost or stolen, protecting your balance

However, you’ll need to watch out for general usage fees, which often apply when you load the card with cash and may also be charged monthly.

Can you get commission-free travel currency?

Yes and no. It depends on how you define it. Commission refers to the service fee that a currency exchange broker charges for exchanging your money.

Many companies advertise 0% commission to exchange money online or on the high street, but, instead of charging commission, they offer a less competitive exchange rate. This is why you need to compare the whole deal rather than just opting for a zero-fee travel money deal.

Are there restrictions on getting currency delivered?

When you buy your currency online, it's normally sent via Royal Mail's Special Delivery service. This means you have to sign for the package. Cash orders that exceed £2,500 will be sent in batches because that's the maximum value that can be insured for each delivery.

Can you get next-day delivery for currency?

Some travel money providers do offer next-day delivery. These brokers send out currency using Royal Mail's Special Delivery Guaranteed by 1pm service.

Our comparison shows which operators offer this option and how much they charge for it. With some companies, you also have the option to pre-order your travel money for collection in person from a local branch, meaning you don't have to pay for delivery.

Will anyone buy my currency back?

If you've got leftover travel money from a trip abroad, you can use a  buy-back service  to convert it back into pounds.

The buy-back rate tells you how much sterling you'll get back.

Remember to factor in the rate and delivery costs, and compare exchange rates. You can check out the best euro-to-pound exchange rate by looking at our comparison table.

About our comparison

Who do we include in this comparison.

We include every company that gives you the option of buying euros online. Discover  how our website works .

How do we make money from our comparison?

We have commercial agreements with some of the companies in this comparison. We get paid commission if we help you take out one of their products or services.  Find out more here .

You do not pay any extra and the deal you get is not affected.

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How to Save on Currency Exchange and Travel Money

Best Exchange Rates makes it easy to compare retail FX rates from trusted, regulated currency exchange specialists to use when you Travel and Spend abroad.

We show you how to use a multi-currency card or order foreign cash online for better currency exchange rates, convenience and save money for your next trip or overseas online purchase.

Here are a few ways you can save on currency exchange when traveling overseas:

• Compare exchange rates: Shop around to get the best exchange rate. Compare rates from banks, currency exchange offices, and online providers to find the best deal.
• Use a credit card: Credit cards often offer favorable exchange rates, so using one to make purchases in Portugal can save you money. Just be sure to pay off the balance in full each month to avoid interest charges.
• Use a debit card: Debit cards linked to a foreign currency account can also offer good exchange rates. This can be a good option if you don’t have a credit card or don’t want to use one for your trip.
• Avoid exchanging currency at the airport: Currency exchange offices at airports often have lower exchange rates than other options. If possible, wait until you get to your destination to exchange currency.
• Consider using a travel money card: Travel money cards are prepaid cards that you can load with multiple currencies. They can be a convenient and cost-effective way to pay for things while traveling.
• Use ATMs: ATMs often offer competitive exchange rates, and you’ll usually only pay a small fee to your bank for using an ATM abroad. Just be aware of any fees your bank charges for foreign transactions.
• Pay in the local currency: Some merchants may offer to charge you in your home currency instead of the local currency. This is called “dynamic currency conversion.” While it may be convenient, it often results in a less favorable exchange rate for you. It’s usually better to pay in the local currency.

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Get the best euro exchange rate

Compare the latest euro exchange rates from the UK's top currency providers

How to get the best euro exchange rate

If you're travelling to Europe, it's important to shop around and compare currency suppliers to maximise your chances of getting a good deal. We can help you to find the best euro exchange rate by comparing a wide range of UK travel money suppliers who have euros in stock and ready to order online now. Our comparisons automatically factor in all costs and commission, so all you need to do is tell us how much you want to spend and we'll show you the top suppliers who fit the bill.

Are you looking to get the best euro exchange rate for your next trip abroad? At Compare Holiday Money, we compare the euro rates from dozens of top UK foreign exchange providers to help you find the most competitive currency deals online and on the high street.

We continuously scan and track the latest euro rates from a wide range of currency providers to help you find the companies offering the best deals. Our clever currency comparisons automatically factor in all costs and charges like delivery fees and commission, so all you need to do is tell us how much you want to spend and we'll show you the best euro rates available to buy online right now.

Compare deals

Some of the best travel money deals are only available when you buy online. By using a comparison site, you're more likely to see the full range of deals on offer and get the best rate.

Some of the best travel money deals are only available from specialist online currency providers who offer better euro rates than high street bureaux de change.

Always place your order online, even if you plan to collect your currency in person. Most supermarkets and high street currency suppliers offer better exchange rates if you order online beforehand.

Most supermarkets and currency suppliers offer better rates if you buy or reserve your currency online. If you're planning to buy euros in store, place your order online beforehand to guarantee the online rate.

Combine orders

If you're travelling with others, consider placing one large currency order instead of buying individually. Many currency suppliers offer enhanced rates that improve as you order more.

You'll often get better rates the more you order. If you're travelling with a group, consider placing one large currency order instead of everyone buying euros individually.

Remember, exchange rates aren't the only important factor when finding the best euro deal. Delivery costs, commission and payment surcharges can all affect the amount of money you'll receive. See our comprehensive euro travel money comparisons to find the absolute best deal with all costs and charges factored in.

Online foreign exchange providers who specialise in travel money usually offer the best euro exchange rates, and you'll get the best deals when you buy online for home delivery. If waiting isn't an option, or if you'd rather buy your euros in person, supermarkets typically offer the best euro rates on the high street - but don't just walk in off the street unannounced. Reserve your euros online (ideally the day before you want to collect them) as most supermarkets offer enhanced exchange rates on their website compared to the rates they advertise in store. By ordering online you'll lock-in the better online rate and can collect your euros in person at a time that's convenient for you.

Euro rate trend

Over the past 30 days, the Euro rate is up 0.84% from 1.1676 on 29 Jul to 1.1774 today. This means one pound will buy more Euros today than it would have a month ago. Right now, £750 is worth approximately €883.05 which is €7.35 more than you'd have got on 29 Jul.

These are the average Euro rates taken from our panel of UK travel money providers at the end of each day. You can explore this further on our British pound to Euro currency chart .

We found 17 foreign exchange providers offering euros today. The table below shows the results ordered by best euro rate, assuming you wanted to buy £750 worth of euros for home delivery.

Remember, exchange rates aren't the only important factor when it comes to getting a good currency deal. Delivery fees, payment surcharges and other hidden costs can all affect the amount of money you'll receive. See our euro travel money comparisons to help you find the best euro rate today.

Timing is key if you want to maximise your euros, but the best time to buy will depend on the current market conditions and your personal travel plans.

If you have a fixed travel date, you should start to monitor the euro rates as soon as possible in the period leading up to your departure so that you've got time to buy when the rate is looking favourable. For example, if the euro rate has been steadily increasing over several weeks or months, it could be a good time to buy while the rate is high.

Some people prefer to buy half of their euros as soon as they've booked their holiday, and the remaining half just before they depart. This can be a good way of maximising your holiday money if the exchange rate continues to rise after you've bought, but will also help to minimise your losses if the rate drops.

You could also consider signing up to our newsletter and we'll email the latest rates to you each month.

If you need your euros sooner and don't have time to wait for the rates to improve, you can still save money by comparing rates from a range of different providers before you buy. Online travel money suppliers usually have better euro rates than high street exchanges, but supermarkets are a good compromise if you want to collect your currency in person and still get a decent rate. Just remember to buy or reserve your euros first before you collect them from the store so you benefit from the supplier's better online rate.

Euro banknotes and coins

Over 340 million people use the euro every day according to the European Central Bank, making it the second most-traded currency in the world after US dollars. Twenty out of 27 EU Member States have adopted the euro as their official currency, and euros are used officially and unofficially in many non-EU countries and territories throughout Europe such as Monaco, San Marino, and Vatican City.

Euros are governed and issued by the European Central Bank which is based in Frankfurt, but the actual production of euro banknotes and coins is handled by various national banks throughout the Eurozone. Spain and Greece are responsible for printing €5 and €10 banknotes, Germany prints €100 notes, and the other EU member states are responsible for printing €20 and €50 notes.

One euro (€) can be subdivided into 100 cents (c). There are seven denominations of euro banknotes in circulation: €5, €10, €20, €50 and €100 which are frequently used, plus €200 and €500 notes which are no longer printed but are still in circulation and remain legal tender. The designs printed on each banknote are intended to be symbolic of the European Union's identity and unity, as well as highlighting the diversity and richness of different European cultures. The front of each banknote features architectural styles from different periods in Europe's history, including Classical, Gothic, Renaissance and modern, while the reverse side features bridges that represent communication and cooperation between the different countries within the European Union.

Euro coins are available in eight denominations: 1c, 2c, 5c, 10c, 20c, 50c, €1 and €2. Each EU member state is responsible for minting its own coins, and can choose their own design for the 'tails' side. For example, German coins feature the 'Bundesadler' or Federal Eagle which has been the German coat of arms since 1950, while French coins depict Marianne; an important symbol of French national identity. Next time you've got a handful of euro coins, take a look at the tails side and see if you can guess which EU country they came from!

There's no evidence to suggest that you'll get a better deal if you buy your euros in Europe. While there may be better exchange rates available in some locations, your options for shopping around may be limited once you arrive, and there's no guarantee the exchange rates will be any better than they are in the UK.

Exchange rates aside, here are some other reasons to avoid buying your euros in Europe:

• You may have to pay commission or other hidden fees to a currency exchange that you wouldn't have paid in the UK
• Your bank may charge you a foreign transaction fee if you use it to buy euros when you're abroad
• It can be harder to spot scammers and fraudulent currency exchanges in Europe

Lastly, it can be handy to have some cash on you when you arrive at your destination so you can pay for any immediate expenses like food, transport and tips. You don't want to be searching for the nearest currency exchange when you've just landed and you're desperate for a cup of tea - or a cocktail!

Twenty out of 27 EU member states have adopted the euro as their official currency. These are: Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.

The following European countries and territories who are not part of the EU also use the euro as their official currency: Andorra, Kosovo, Monaco, Montenegro, San Marino and Vatican City, French Guiana and Martinique, the Azores, Canary Islands, and Madeira.

Tips for saving money while visiting Europe

The most budget-friendly destinations in Europe are generally those located in the east such as Latvia, Lithuania and Estonia. In contrast: Luxembourg, Ireland and France usually top the list as some of the most expensive holiday destinations. Regardless of where you're planning to visit, you can save money during your trip by following some simple tips:

• Research your accommodation: Hotels can be expensive, so one way of saving money is to look for more budget-friendly accommodation such as hostels, holiday rentals, or even campsites. AirBnB can be an affordable option too, especially if you rent a room instead of an entire apartment; and you'll get to experience what it's like to live like a local. Salud!
• Use public transport: Make the most of any metro systems, buses, or trams to get around instead of relying on private taxis or rental cars. Many European countries also offer national and regional travel passes for public transport which can work out significantly cheaper than buying individual tickets.
• Eat like a local: Opt for local restaurants or street food vendors that offer authentic cuisine at lower prices. Avoid dining at expensive tourist restaurants, and try cooking your own meals if your accommodation has a kitchen. Not only is this a great way to save money, but it can also be a fun cultural experience to shop around in European supermarkets and cook with local ingredients.
• Plan your itinerary: Look out for free attractions such as museums, parks, churches and historical sites, and plan your itinerary around these. Many cities in Europe also offer free walking tours which can be a great way to get an overview of a new location while learning about its culture and history.
• Find discount vouchers: Many tourist attractions and activities offer discount vouchers and codes that can save you money on entry fees and other perks. Look for vouchers online; sign up to newsletters and follow the social media accounts of places you're planning to visit.
• Take cash: Using cash will help you to stick to a budget more easily than paying by card, and you'll also avoid foreign transaction fees. If you do take a card with you, look out for ATMs that are affiliated with your UK bank to avoid ATM fees, and if you're asked whether you want to pay in pounds or euros - always choose euros. If you pay in pounds the merchant can set their own exchange rate which won't be in your favour.

Choosing the right payment method

Sending money to a company you might not have heard of before can be unsettling. We routinely check all the companies that feature in our comparisons to make sure they meet our strict listing criteria, but it's still worth knowing how your money is protected in the unlikely event a company goes bust and you don't receive your order.

Bank transfer

Your money is not protected if you pay by bank transfer. If the company goes bust and you've paid by bank transfer, it's unlikely you'll get your money back. For this reason, we recommend you pay by debit or credit card wherever possible because they offer more financial protection.

Debit cards are the most popular payment method and they offer some financial protection. If you pay by debit card and the company goes bust, you can instruct your bank to make a chargeback request to recover your money from the company's bank. This isn't a legal right, and a refund isn't guaranteed, but if you make a chargeback request your bank is obliged to try and recover your money.

Credit card

Credit cards offer full financial protection, and your money is protected by law under Section 75 of the Consumer Credit Act. Section 75 states that your card issuer must refund you in full if you don't receive your order. Be aware that many credit cards charge a cash advance fee (typically around 3%) for buying currency, so you may have to weigh up the benefits of full financial protection with the extra cost of using a credit card.

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Get the best exchange rates on your travel money

Use our comparison site, our expert tips and country guides to make your money go further

Get the best exchange rates

From Australian dollars to UAE dinars ; get the best travel money deal by comparing the exchange rates from the UK’s top currency brands.

Travel Money Tips

Follow our expert tips when travelling abroad and we guarantee to save you money

Use a travel money comparison site to buy your currency

Always take cash and cards

Check the cost of posting cash to your home vs click and collect

Always understand debit and credit card charges

Always pay in local currency

Check overseas ATM charges before pressing 'enter'

Buy your travel money before you go to the airport

Always ‘haggle’ if you go to a bureau de change

Travel Money Country Guides

If you want to know more about how travel money works for a particular country, see our travel money guides below for some of your favourite destinations.

United States

Frequently asked questions.

What you need to know about using your debit and contactless card abroad

What you need to know about using your credit card abroad

What you need to know about exchange rates

What you need to know about using a pre paid card

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Compare euro travel money rates

• buy Currency

What Currency do you want to buy?

How much do you want to spend.

Barclays Travel Money is only available to Barclays debit card or Barclaycard holders. Their rates tend to be very poor when compared to other online travel money providers.

Order Limits and Fees

Company Name: Barclays Bank UK PLC

Payment Options: Barclays debit card or Barclaycard

Address: 1 Churchill Place, London E14 5HP

Minimum Order: £50

Maximum Order: £2,500

Minimum order amount for free delivery: £50

Debit Card Charge: NA

Credit Card Charge: NA

Collection available: ✔

What is the Best Euro Exchange Rate Today?

The best place to buy euros today is Covent Garden FX.

The worst exchange rate is 1.1320. The difference between the highest and the lowest exchange rate is 3.26. This means that if you are buying £750 worth of euros you will get €28.58 more euros by buying with the best provider.

This shows you it pays to shop around and get the best euro rates!

Euro exchange rate over the last week.

This shows you the pound sterling to euro exchange rate recorded daily from our UK suppliers over the last week.

In the last 7 days, the exchange rate for euros has risen by 0.82%.

If you were to order £1,000 today you would get €9.60 more euros for your money than last week.

How do we source the data above? We receive rate feeds travel money suppliers and aggreate the data each evening we save the average rate that occured during the day, and also include the current best rate

How to get the best euro exchange rate.

We compare pound to euro rates from many of the UK’s best companies including exclusively online providers as well as some of the well-known high street banks and supermarket travel money services. Our clever algorithms ensure you find the best place to buy euros.

Compare Travel cash is a free compare travel money service that takes the pain and effort out of finding the best exchange rates for buying euro online. Don't forget the price we quote is the price you pay, we calculate the amount including any fees and delivery costs!

Buying Euros online FAQs

Hundreds of customers safely buy euros through online travel money providers sites every day and have a great experience. However, as with ordering anything online, the process is never completely risk-free and you should always take care when transferring money to any company. Compare Travel Cash undertake comprehensive checks on all of our online travel money providers and monitor them to make sure they meet our high standards and continue to do so. Having said that, no company is guaranteed not to come into trouble and we cannot guarantee the solvency of any of the providers listed on our website. We always recommend that you conduct your own research before placing an order with any company.

The Euro , the official currency of the Eurozone, has become a symbol of economic unity and integration across the European Union. Since its introduction in 1999, the Euro has gained widespread acceptance and is used by millions in 19 of the 27 EU member countries.

Euro banknotes come in seven denominations, each featuring unique designs that reflect the architectural heritage of different historical periods. The denominations are 5, 10, 20, 50, 100, 200, and 500 euros. The design of the banknotes incorporates various security elements to prevent counterfeiting while showcasing the rich cultural diversity of the Eurozone.

The front of each banknote features windows and gateways, symbolizing the European spirit of openness and cooperation. The reverse side highlights bridges, representing communication and connections between the people of Europe. Additionally, watermarks, holograms, and other security features make Euro banknotes among the most secure currencies globally.

Euro coins, on the other hand, are issued in eight denominations: 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euros. The common side of all euro coins features a map of Europe, emphasizing the unity of the continent. The national side, however, varies from country to country, showcasing individual cultural and historical symbols.

Euro coins are composed of two alloys – a centre made of nickel brass, nickel, and copper, and an outer ring made of nickel brass. Each denomination has a distinct colour and size, aiding easy identification. The edges of the coins also carry specific grooves or lettering, making them accessible to the visually impaired.

Ensuring the integrity of the Euro currency is of utmost importance. Euro banknotes employ advanced security features such as holograms, watermarks, security threads, and microprinting. These elements make counterfeiting extremely difficult and help maintain confidence in the currency.

The Eurozone also continuously updates its security features to stay ahead of counterfeiters. Technological advancements, including colour-changing ink and enhanced holograms, contribute to the ongoing battle against fraud.

Choose the travel money provider you would like to buy euros from, then:

Not Usually! We constantly update our exchange rates as they change for each supplier, we try to do this in almost real-time, (in normal circumstances not more than 1-minute difference). Also, we sometimes have exclusive offers that you won't find by going direct.

Of course, most companies offer a buyback service for your unused currency! If you want to exchange your leftover euros into pounds you can see the best buy back rate on euros and many other currencies using our buy back comparison tool . Remember most buybacks are only possible for notes, not euro coins.

The euro is the official currency of 19 of the 27 EU member countries. The following countries use the Euro as their single currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. There are also 4 states outside of the EU that use the euro: Andorra, Monaco, San Marino and Vatican City.

Each provider will have different rules on the maximum amount of currency you can buy.

Some providers will allow you to order large amounts, but we suggest you check the terms and conditions before you place an order if you are ordering a large amount.

Also, consider that currently you are only allowed to carry 10,000 euros. If you take more than this you have a legal obligation to inform customs. Note, this amount is per person so if you are travelling with more cash than this you can distribute it to your fellow travellers.

You will only be able to order notes, not coins.

If you require specific denominations consult with the provider first to ensure they offer this service when changing your Pounds to Euros. Most will charge for this, but we find most providers supply a mixed selection of denominations. If a supplier does not specifically offer this service, contact them and ask them if they can provide the Euro denominations you require, they may do this for free depending on their stock levels!

The short answer is, that it is very difficult to time your order of Euros correctly to attain the best exchange rate. There are so many factors affecting the Euro exchange rate it is impossible to pin down a time when rates are best.

The prudent thing to do is to research to find the best Pounds to Euros exchange rate using our comparison engine and obtain the best rate you can on the day you want to buy your currency. If you are short on time and need your currency on a specific date, we suggest buying with time to spare. All providers will use Royal Mail special delivery and in recent times we have seen delays in some cases, so leave as much time as you can to ensure you have your currency comfortably before your departure date.

Buying Euros in Europe is almost always more expensive.

To avoid any surprises and to ensure you have a hassle-free trip we suggest buying Euros before you travel.

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Wednesday 28th. August 2024

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This guide explains the cheapest and most expensive ways to buy travel money. It can help save you money if you are thinking about going abroad and trying to work out the best way to spend while you’re there.

Compare Travel Money Exchange Rates

Commission charges when you buy foreign currency have mostly been phased out. Now most currency operators make money on the difference between the interbank exchange rate and the rate they actually give you.

So the best way to know if you’re getting a good deal is to compare the actual exchange rate you’re getting.

For each of the currency exchange locations below we have used the euro as an example – but where you see a location giving a bad rate (versus the benchmark interbank rate) for euros, you can be pretty much guaranteed you’ll get a bad rate on any other currency at that place too.

Here are the ways to get the most for your money when buying foreign currency, ranked best to worse.

(All exchange rate figures accessed on 31 May 2023.)

What’s in this guide?

1. Currency cards – BEST RATE

Currency cards are debit card-style payment cards designed to be used while you are on holiday or travelling outside the UK to pay for goods and services, usually anywhere you see the Visa or Mastercard symbol. They either come as regular debit cards with travel money functions, or as a separate card that connects to your current account.

Currency cards offer some of the best exchange rates around, and are available from, for example, Starling, Monzo, Revolut , and Curresea.

The euro rates for Monzo and Starling are based on the Mastercard rate so are the same:

• £1 = €1.152 (vs €1.16 inter bank rate)
• On the (free) Curresea Essential plan the euro rate is:
• £1 = €1.152
• On the (paid for) Curresea Elite and Premium Plans the euro rate is:
• £1 = €1.163
• Ease : Currency cards are easy to apply for and usually arrive within a few days. If your bank already offers a travel card service as part of your account you may not even need to apply for a new card. Plus you don’t need to worry about changing up loads of cash before you go away.
• Safety : If you lose cash, it’s usually gone forever. If you lose your currency card you can cancel or freeze it in the app that comes with it to prevent anyone else using your holiday money.
• Virtual wallet: You can add most currency travel cards to your phone’s virtual wallet, so you can still pay if you only have your phone with you.
• Charges : Fees and charges to use your currency card abroad can vary significantly so it’s a good idea to compare different providers before you choose which one to go with. Be aware the card provider – typically either Visa or Mastercard – can add its own fees of 1% to 3% on top of transactions.
• ATM limits : Some card providers limit how much you can withdraw from an ATM in another currency, after which point more charges will kick in.
• No section 75 protection : Debit card payments and purchases are not covered by section 75 of the Consumer Credit Act. But you might be able to make a claim for a refund under a voluntary scheme called ‘chargeback’.

2. Cash point abroad

Withdrawing cash from an ATM abroad can be a good option if you use one of the cards mentioned above, or a travel credit card. They are designed for use while travelling, so give the best rates on foreign exchange, and limit the fees and charges you pay while using them abroad. It is for this reason that cash point abroad is 2nd on this list.

Currensea , for example, as well as offering one of the best exchange rates, allows free ATM withdrawals of up to £500 using its Essential Card (2% fees over), and with its Premium Card (which costs £25 a year) you can make fee free ATM withdrawals up to £500 (1% over).

Just remember – if the ATM tells you a fee applies, always choose to be charged in the local currency of the country you’re in (this also applies to card purchases).

However beware – this is important – if you just take your normal debit card or credit card abroad you can expect high fees from both your bank and the ATM you withdraw cash from every time you use it.

For example, Barclays charges a 2.99% fee for using your standard debit card abroad when making purchases, withdrawing cash or for refunds.

So while you get a pretty decent exchange rate with Barclays (which uses the Visa rate), once the fee is added the real rate is much less. It works out as:

• Visa rate: £1 = €1.161 (vs €1.16 inter bank rate) before charges
• Barclays debit rate after 2.99% fee added £1 = €1.128
• Cheap if you use the right cards: Taking money out at an ATM abroad can be one of the cheapest ways to access cash if you use a card designed for travel that has fee-free options and a good exchange rate (see out Best Rated above).
• Don’t have to carry so much cash : Carrying huge wads of cash is a theft risk. Carrying a couple of cards (one for use and one for back up) is much safer.
• High costs if you use the wrong card : Avoid taking your regular debit or credit card abroad as to use it you will have to pay high fees.

3. Highstreet in the UK

UK highstreets offer a number of exchange rate options, from inside department stores like John Lewis, to specialist foreign exchange rate shops like No1 Currency. The rates will vary from place to place.

At No1 Currency, for example, the online rates are below, although the website says the in store rates may differ from what is advertised.

• £1 = €1.136 (vs €1.16 inter bank rate)
• £100 = €113.67

At John Lewis, on the same day the rate was a little lower.

• £1 = €1.133 (vs €1.16 inter bank rate)
• £100 = €113.38

At Marks & Spencer, the rate was:

• Click & Collect: £1 = €1.138 (vs €1.16 inter bank rate)
•  £100 = €113.80
• In-store bureau de change: £1 = €1.119
• £100 = €111.90

At a TUI branch the rate was:

• £1 = €1.139 (vs €1.16 inter bank rate)
• £100 = €113.90
• Click and collect rates : No1 Currency for example gives you a better rate if you order online then pick up in store, rather than have your currency delivered.
• Perks: For example at John Lewis you can earn points when you pay for currency with your Partnership Credit Card.
• Delivery charges : No1 Currency only offers free delivery for orders of £800 or more. At John Lewis the minimum for free home delivery is over £500.
• Minimum orders online: John Lewis, for example, has a £250 minimum for online orders.

4. Online with a supermarket

Most supermarkets sell travel money these days and it can be a convenient way to pick up some currency while you do your weekly shop. You can buy on the day or order online to collect.

As an added bonus, supermarkets offer a better rate on foreign currency for their loyalty card holders, pushing supermarkets up the ranking in terms of rates.

• Standard rate: £1 = €1.130 (vs €1.16 interbank rate)
• £100 = €113
• Tesco Clubcard rate:  €1.135
• £100 = €113.50

Sainsbury’s

• £1 = €1.131 (vs €1.16 interbank rate)
• £100 =  €113.17
• Sainsbury’s Nectar card rate: €1.1340
• £100 = €113.40
• Loyalty perks and points : Loyalty card holders get better exchange rates, plus you can earn loyalty points when you pay for the currency just like any other purchase.
• Convenience : Order online then pick up when you do your weekly shop.
• Minimum order amounts: For example Tesco has a minimum order amount of £400 worth of currency when you buy online, and a minimum of £500 to have a free home delivery. There is no minimum order amount for Sainsbury’s but a £4.99 fee to have currency bought online delivered at home.

5. Post office

The Post Office is a handy one-stop-shop for lots of holiday related things, from travel insurance to international driving permits, and including travel money. While the Post Office doesn’t offer the best rates on the market, it does have several other advantages that could make it a good option, especially if you are in a hurry.

• £1 = €1.116 (vs €1.16 inter bank rate)
• £100 = €111
• Rate increases : Order online for the best rates on every currency. The more you buy, the better the rate.
• Fast pick up service : You can pick up euros and US dollars from your nearest branch in as little as 2 hours, from selected branches. Order by 2pm (1pm Saturday) to collect the same day, from 2 hours later. Order after 2pm (1pm Saturday) to collect the next working day, from 11am. Or you can choose delivery to your home.
• Refund policy : Will refund 100% of the holiday money you bought if your trip abroad is cancelled
• Queuing : With a number of Post Offices closing, and banks shutting branches that force Post Offices to do more services with less, queues to get you travel money in person can be long.
• Limited currencies: Post Office in my experience don’t carry that much currency and only in a few of the most common types. Beware buying last minute – if you try to just pop in on the day to buy your currency without pre-ordering you may find they have run out, or don’t stock it.
• Buying limits : The minimum you can buy online of a currency is £400 worth, and the maximum is £2,500.

6. At the airport

The only times I have bought currency at the airport it has been out of desperation and from a lack of forward planning – and I have always regretted it. It is typically one of the most expensive (i.e. worst exchange rate) places to buy foreign currency.

But if you’re in a panic because you forgot to get out any cash before your trip, it is at least convenient to be able to grab some foreign currency before your flight.

Two of the most common foreign exchange kiosks you’ll find at UK and global airports are Travelex and Eurochange. The rates below are for their online services – rates in the airport are likely to be worse.

Travelex (online)

• £1 = €1.130 (vs €1.16 inter bank rate)

Eurochange (online)

• £1 = €1.131 (vs €1.16 inter bank rate)
• £100 = €113.10
• Location : If in the rush to get away you forgot to pick up any currency, airport foreign exchange kiosks offer a last minute lifeline.
• Availability of currencies: Because of their location, currency kiosks in international airports tend to be well stocked in multiple currencies, even the less common ones.
• Switching currency : If you are visiting multiple countries on a trip but don’t want to carry large amounts of currency, changing up just what you need at each airport you pass through is an option.
• Expense : You will never get the best foreign exchange rate at an airport.
• Lack of comparison : Even if there is more than one currency store at the airport, they all tend to offer the same rates. Once you’re there you have no other options, you have to take what you can get.

7. Online with a bank

Buying travel money from your local bank might seem like the obvious choice, but surprisingly the rates on offer are likely among the worst you’ll get anywhere in the UK. However the limits on how much you can purchase can be higher (though you won’t get a better rate the more you buy so why bother?)

• £1 = €1.105 (vs €1.16 inter bank rate)
• £100 = €110.51
• £1 = €1.106 (vs €1.16 inter bank rate)
• £100 = €110.67
• High purchase limits : At Barclays, for example, you can order up to £5,000 per person within a 90-day period, and a maximum of £2,500 from that amount can be sent for home delivery to a single residential address.
• Fee free deliveries : HSBC, for example, offers fee-free deliveries on your travel money to HSBC Full and Cash Service branches or to your home. Other banks may charge.
• Limited to customers : You may find you have to be a customer. For example, you’ll need a Barclays debit card or Barclaycard to place your order for currency online there.
• Expensive : Among the worst rates for currency exchange you’ll find anywhere in the UK.

8. Bureau de change abroad – WORST RATE

Bureau de changes abroad are typically in tourist hotspots. And what do we know about tourist hotspots? Rife for pickpockets and overinflated prices. This is the attitude you should take to foreign currency shops in these locations.

One example that proves the ‘expensive option’ point is Ria Money Transfer & Currency Exchange, situated in the busy Plaza de Callao in central Madrid, Spain.

Ria’s exchange rate on 31 May 2023 was:

• £1.00 = €0.99 (vs €1.16 inter bank rate)

Convenient : If you really need cash while you’re abroad, maybe because you’re in a place where your cards are not widely accepted, a local bureau de change may be a lifeline – just expect to pay heavily for that life raft.

• Cost, cost, cost: Buying foreign currency from a currency shop or kiosk in a tourist hotspot (where you are most likely to find them) is an extremely expensive way of getting your hands on cash. Avoid if at all possible.
• Theft risk : Pickpockets may hang around bureau de change just like they hang around ATMs, because they know you have just withdrawn what is probably a large amount of money. Secure your cash hidden away before you leave the kiosk.

Is it still worth getting travel cash ahead of your holidays?

Yes. Absolutely. Cards aren’t accepted everywhere, as I found to my detriment when I arrived in Buenos Aires and tried to take out local currency on my credit card at the foreign exchange desk at the airport.

“Absolutely not possible”, I was told. A combination of a lack of provision to buy currency on credit card there, and the Argentinian peso being just too volatile for credit card providers to let you buy it on their service.

All I had in hard currency was US$100 in Argetininian pesos I had changed in the airport at Rio De Janeiro, Brazil, where I had just come from, and a US$100 bill. Luckily I’d pre-paid my Buenos Aires hotel in advance, and I could easily find restaurants that would accept my credit card. But taxis only took cash, so I spent a lot of time walking – thinking about how I should have brought more pesos with me.

We’ve answered some of the most commonly asked questions when it comes to travel money.

Yes, in most cases. Cash withdrawal fees will probably apply of around 3%, just like they would at home for taking cash out on a credit card, and these will be on top of any currency conversion fees.

Be aware though – in countries with a highly fluctuating exchange rate, like Argentina, you may not be able to buy foreign cash with your credit card (not even at the bureau de change at the airport, for example). You still may be able to pay for goods and services with your credit cards, but check how widely they are accepted before you travel.

Yes, on the whole. When buying travel money online, like with buying anything online, you’re best off sticking to well known brands, whether that be banks, supermarkets, or currency exchange stores.

A large institution or well known brand is less likely to go bust, and that is important because foreign exchange is not a regulated service. This means your cash is not protected if the company you tried to get your foreign currency from closes suddenly.

Yes. Most places that sell you travel money will buy it back from you. But just like when you’re swapping your pounds for foreign currency, when you swap it back you should compare the exchange rates on offer. As a general rule, a location that offers a good rate one way, offers a good rate the other way.

Travel money providers – from the currency shops and bureau de change, to the banks and supermarkets, anywhere basically that sells currency – make money by giving you slightly less than the central banks give them for the foreign money you want to buy.

For example, if a currency provider tells you they will give you €1.131 for every pound you give them, but the central bank rate for euros is €1.157 per pound, the difference is €0.026, which they pocket. This may not sound much, but multiplied over millions of transactions a  year, it adds up.

Compare, compare, compare the single unit price – which means the £1 for a €1 rate, or whichever currency you choose, versus the interbank rate, which you can get by just Googling “1 GBP in EUR”.

Places that sell currency, online or in a shop, have to show you the exchange rate for that day. While it’s probably not practical to go traipsing around comparing shops, it’s easy enough to do so online. If you run up against minimum purchase amounts online, still go with the company providing the best rate but visit their location in person.

Also try not to get yourself in a position where you’re desperate to buy foreign currency, either at home or abroad. This means having enough cash on you in remote locations, and tourist hotspots, and before you travel (to avoid the airport currency shops).

Laura Miller has been a financial journalist for more than 10 years, and was on staff at the Telegraph before going freelance in 2019. Her experience includes hosting podcasts and panels, and she writes for the Times and Sunday Times, Daily Mail, Mail on Sunday and the Sun, as well as trade titles. She now lives by the sea in Aberystwyth, west Wales.

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With travel money, finding the best travel money provider for your needs could be complicated. For once, the amount of currency required impacts the rates you are getting. Additionally, some providers are cheaper for particular currency pairs and more expensive for others. Finally, some people value rates, while others care about quality of service and reliability (and are willing to pay more for it).

This is why we have established CompareTravelMoney.net, to provide travellers with all the information they require to make a sober choice. For each currency, we have a separate list of recommended providers with specific rates which apply to the amount you are willing to exchange.

Websites like CompareTravelMoney.net don’t charge money off clients (you will not get better rates by approaching them yourself; on the contrary). We only take a small fee for each client we refer over to a travel money company. In fact, we encourage competitiveness in the niche, and as a whole, what we do helps people get better and better rates each year for their currency.

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Be sure to read through our About Us and Terms and Conditions . We have covered international money transfers  for bank account transfers in a separate guide, but we are unable to present rates from these companies.

Samantha Putterman, PolitiFact Samantha Putterman, PolitiFact

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• Copy URL https://www.pbs.org/newshour/politics/fact-checking-warnings-from-democrats-about-project-2025-and-donald-trump

Fact-checking warnings from Democrats about Project 2025 and Donald Trump

This fact check originally appeared on PolitiFact .

Project 2025 has a starring role in this week’s Democratic National Convention.

And it was front and center on Night 1.

WATCH: Hauling large copy of Project 2025, Michigan state Sen. McMorrow speaks at 2024 DNC

“This is Project 2025,” Michigan state Sen. Mallory McMorrow, D-Royal Oak, said as she laid a hardbound copy of the 900-page document on the lectern. “Over the next four nights, you are going to hear a lot about what is in this 900-page document. Why? Because this is the Republican blueprint for a second Trump term.”

Vice President Kamala Harris, the Democratic presidential nominee, has warned Americans about “Trump’s Project 2025” agenda — even though former President Donald Trump doesn’t claim the conservative presidential transition document.

“Donald Trump wants to take our country backward,” Harris said July 23 in Milwaukee. “He and his extreme Project 2025 agenda will weaken the middle class. Like, we know we got to take this seriously, and can you believe they put that thing in writing?”

Minnesota Gov. Tim Walz, Harris’ running mate, has joined in on the talking point.

“Don’t believe (Trump) when he’s playing dumb about this Project 2025. He knows exactly what it’ll do,” Walz said Aug. 9 in Glendale, Arizona.

Trump’s campaign has worked to build distance from the project, which the Heritage Foundation, a conservative think tank, led with contributions from dozens of conservative groups.

Much of the plan calls for extensive executive-branch overhauls and draws on both long-standing conservative principles, such as tax cuts, and more recent culture war issues. It lays out recommendations for disbanding the Commerce and Education departments, eliminating certain climate protections and consolidating more power to the president.

Project 2025 offers a sweeping vision for a Republican-led executive branch, and some of its policies mirror Trump’s 2024 agenda, But Harris and her presidential campaign have at times gone too far in describing what the project calls for and how closely the plans overlap with Trump’s campaign.

PolitiFact researched Harris’ warnings about how the plan would affect reproductive rights, federal entitlement programs and education, just as we did for President Joe Biden’s Project 2025 rhetoric. Here’s what the project does and doesn’t call for, and how it squares with Trump’s positions.

Are Trump and Project 2025 connected?

To distance himself from Project 2025 amid the Democratic attacks, Trump wrote on Truth Social that he “knows nothing” about it and has “no idea” who is in charge of it. (CNN identified at least 140 former advisers from the Trump administration who have been involved.)

The Heritage Foundation sought contributions from more than 100 conservative organizations for its policy vision for the next Republican presidency, which was published in 2023.

Project 2025 is now winding down some of its policy operations, and director Paul Dans, a former Trump administration official, is stepping down, The Washington Post reported July 30. Trump campaign managers Susie Wiles and Chris LaCivita denounced the document.

WATCH: A look at the Project 2025 plan to reshape government and Trump’s links to its authors

However, Project 2025 contributors include a number of high-ranking officials from Trump’s first administration, including former White House adviser Peter Navarro and former Housing and Urban Development Secretary Ben Carson.

A recently released recording of Russell Vought, a Project 2025 author and the former director of Trump’s Office of Management and Budget, showed Vought saying Trump’s “very supportive of what we do.” He said Trump was only distancing himself because Democrats were making a bogeyman out of the document.

Project 2025 wouldn’t ban abortion outright, but would curtail access

The Harris campaign shared a graphic on X that claimed “Trump’s Project 2025 plan for workers” would “go after birth control and ban abortion nationwide.”

The plan doesn’t call to ban abortion nationwide, though its recommendations could curtail some contraceptives and limit abortion access.

What’s known about Trump’s abortion agenda neither lines up with Harris’ description nor Project 2025’s wish list.

Project 2025 says the Department of Health and Human Services Department should “return to being known as the Department of Life by explicitly rejecting the notion that abortion is health care.”

It recommends that the Food and Drug Administration reverse its 2000 approval of mifepristone, the first pill taken in a two-drug regimen for a medication abortion. Medication is the most common form of abortion in the U.S. — accounting for around 63 percent in 2023.

If mifepristone were to remain approved, Project 2025 recommends new rules, such as cutting its use from 10 weeks into pregnancy to seven. It would have to be provided to patients in person — part of the group’s efforts to limit access to the drug by mail. In June, the U.S. Supreme Court rejected a legal challenge to mifepristone’s FDA approval over procedural grounds.

WATCH: Trump’s plans for health care and reproductive rights if he returns to White House The manual also calls for the Justice Department to enforce the 1873 Comstock Act on mifepristone, which bans the mailing of “obscene” materials. Abortion access supporters fear that a strict interpretation of the law could go further to ban mailing the materials used in procedural abortions, such as surgical instruments and equipment.

The plan proposes withholding federal money from states that don’t report to the Centers for Disease Control and Prevention how many abortions take place within their borders. The plan also would prohibit abortion providers, such as Planned Parenthood, from receiving Medicaid funds. It also calls for the Department of Health and Human Services to ensure that the training of medical professionals, including doctors and nurses, omits abortion training.

The document says some forms of emergency contraception — particularly Ella, a pill that can be taken within five days of unprotected sex to prevent pregnancy — should be excluded from no-cost coverage. The Affordable Care Act requires most private health insurers to cover recommended preventive services, which involves a range of birth control methods, including emergency contraception.

Trump has recently said states should decide abortion regulations and that he wouldn’t block access to contraceptives. Trump said during his June 27 debate with Biden that he wouldn’t ban mifepristone after the Supreme Court “approved” it. But the court rejected the lawsuit based on standing, not the case’s merits. He has not weighed in on the Comstock Act or said whether he supports it being used to block abortion medication, or other kinds of abortions.

Project 2025 doesn’t call for cutting Social Security, but proposes some changes to Medicare

“When you read (Project 2025),” Harris told a crowd July 23 in Wisconsin, “you will see, Donald Trump intends to cut Social Security and Medicare.”

The Project 2025 document does not call for Social Security cuts. None of its 10 references to Social Security addresses plans for cutting the program.

Harris also misleads about Trump’s Social Security views.

In his earlier campaigns and before he was a politician, Trump said about a half-dozen times that he’s open to major overhauls of Social Security, including cuts and privatization. More recently, in a March 2024 CNBC interview, Trump said of entitlement programs such as Social Security, “There’s a lot you can do in terms of entitlements, in terms of cutting.” However, he quickly walked that statement back, and his CNBC comment stands at odds with essentially everything else Trump has said during the 2024 presidential campaign.

Trump’s campaign website says that not “a single penny” should be cut from Social Security. We rated Harris’ claim that Trump intends to cut Social Security Mostly False.

Project 2025 does propose changes to Medicare, including making Medicare Advantage, the private insurance offering in Medicare, the “default” enrollment option. Unlike Original Medicare, Medicare Advantage plans have provider networks and can also require prior authorization, meaning that the plan can approve or deny certain services. Original Medicare plans don’t have prior authorization requirements.

The manual also calls for repealing health policies enacted under Biden, such as the Inflation Reduction Act. The law enabled Medicare to negotiate with drugmakers for the first time in history, and recently resulted in an agreement with drug companies to lower the prices of 10 expensive prescriptions for Medicare enrollees.

Trump, however, has said repeatedly during the 2024 presidential campaign that he will not cut Medicare.

Project 2025 would eliminate the Education Department, which Trump supports

The Harris campaign said Project 2025 would “eliminate the U.S. Department of Education” — and that’s accurate. Project 2025 says federal education policy “should be limited and, ultimately, the federal Department of Education should be eliminated.” The plan scales back the federal government’s role in education policy and devolves the functions that remain to other agencies.

Aside from eliminating the department, the project also proposes scrapping the Biden administration’s Title IX revision, which prohibits discrimination based on sexual orientation and gender identity. It also would let states opt out of federal education programs and calls for passing a federal parents’ bill of rights similar to ones passed in some Republican-led state legislatures.

Republicans, including Trump, have pledged to close the department, which gained its status in 1979 within Democratic President Jimmy Carter’s presidential Cabinet.

In one of his Agenda 47 policy videos, Trump promised to close the department and “to send all education work and needs back to the states.” Eliminating the department would have to go through Congress.

What Project 2025, Trump would do on overtime pay

In the graphic, the Harris campaign says Project 2025 allows “employers to stop paying workers for overtime work.”

The plan doesn’t call for banning overtime wages. It recommends changes to some Occupational Safety and Health Administration, or OSHA, regulations and to overtime rules. Some changes, if enacted, could result in some people losing overtime protections, experts told us.

The document proposes that the Labor Department maintain an overtime threshold “that does not punish businesses in lower-cost regions (e.g., the southeast United States).” This threshold is the amount of money executive, administrative or professional employees need to make for an employer to exempt them from overtime pay under the Fair Labor Standards Act.

In 2019, the Trump’s administration finalized a rule that expanded overtime pay eligibility to most salaried workers earning less than about $35,568, which it said made about 1.3 million more workers eligible for overtime pay. The Trump-era threshold is high enough to cover most line workers in lower-cost regions, Project 2025 said.

The Biden administration raised that threshold to $43,888 beginning July 1, and that will rise to $58,656 on Jan. 1, 2025. That would grant overtime eligibility to about 4 million workers, the Labor Department said.

It’s unclear how many workers Project 2025’s proposal to return to the Trump-era overtime threshold in some parts of the country would affect, but experts said some would presumably lose the right to overtime wages.

Other overtime proposals in Project 2025’s plan include allowing some workers to choose to accumulate paid time off instead of overtime pay, or to work more hours in one week and fewer in the next, rather than receive overtime.

Trump’s past with overtime pay is complicated. In 2016, the Obama administration said it would raise the overtime to salaried workers earning less than $47,476 a year, about double the exemption level set in 2004 of $23,660 a year.

But when a judge blocked the Obama rule, the Trump administration didn’t challenge the court ruling. Instead it set its own overtime threshold, which raised the amount, but by less than Obama.

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Money blog: Zoopla issues warning to sellers about overpricing homes

The Money blog is a hub for personal finance and consumer news and tips. Today's posts include a word of caution to house-sellers and hotels cancelling bookings on Oasis concert nights. Listen to a Daily podcast episode on the winter fuel allowance as you scroll.

Wednesday 28 August 2024 21:19, UK

• Hotel accused of cancelling bookings on Oasis concert nights - and relisting for higher price
• Capital gains tax rise on way, leading tax firm warns
• Zoopla issues warning to sellers about overpricing homes
• 'Good news for passengers' from Ryanair on fares

Essential reads

• Top chef shares cheap soup recipe - as he picks best budget eats in Kent
• Has the Nike trainer bubble burst?
• Young people doing 'big no-no' with holiday money - here are the golden rules

Tips and advice

• Hidden refund option that could save you hundreds of pounds
• Best mortgage rates for first-time buyers right now
• How to spend less on school uniform

It's taking sellers over twice as long on average to sell their homes when they have to reduce the price than when there's no reduction, according to Zoopla.

The property portal said its latest research shows sellers should be realistic when it comes to pricing up their property if they're serious about moving.

According to Zoopla, it takes 28 days on average to agree a sale where the asking price hasn't been slashed.

But for sellers who've had to lower the price by 5% or more, the typical time to sell goes up to a whopping 73 days.

Around a fifth of homes put up for sale this month had their price cut by 5% or more, Zoopla said.

Executive director Richard Donnell said a rise in the supply of homes meant buyers had greater choice and prices would be kept in check.

But with mortgage rates still high, "buyers have less purchasing power than two to three years ago and remain price sensitive, meaning sellers can't afford to get ahead of themselves on where to set the right price for their home", he said.

Around 10 million people in England and Wales will not receive winter fuel payments this winter.  

Under Chancellor Rachel Reeves' plan, only those who receive pension credit or other means-tested benefits will still get the £200-£300 towards the cost of their energy bills.   

Critics, including Labour MPs, have said the payments will put even more pressure on elderly people as the cap on energy prices rises again in October.   

On today's episode of the Daily podcast, host Liz Bates gets a breakdown of Labour's plan from our political correspondent Serena Barker-Singh and hears from one of its critics, Labour back-bencher Rachael Maskell.   

Plus, could there be an alternative that could keep everyone happy? We hear from the Social Market Foundation's Sam Robinson about its proposal for an alternative to the winter fuel allowance. 

Listen by pressing play at the top of this page - and  tap here to follow the Daily podcast - 20 minutes on the biggest stories every day .

Prezzo restaurants will undergo a major revamp in the next few years after dozens of its sites were closed in a restructuring programme.

The high street restaurant chain announced the closure of 46 loss-making restaurants - more than a third of its sites - last year after it struggled with soaring energy and food costs.

The move put hundreds of workers at risk of redundancy.

Earlier this year, Prezzo bosses said the company had returned to profitability after the business restructure.

It is now planning to invest in restaurant refurbishments across the rest of this year, and in 2025 and 2026.

Chief executive Dean Challenger has said the outlook for the restaurant group is "positive".

The water industry has warned that firms will be unable to deliver reforms such as stopping sewage outflows without even greater bill rises, with crisis-hit Thames seeking more cash from customers than it originally proposed.

Britain's biggest supplier had initially sought a 44% rise to bills across the five-year period but is now proposing a 52% increase by 2030.

That could rise to a 59% hike, taking the average annual bill to £696, if it is given extra spending allowances by the regulator.

Ofwat has proposed water  bills can only rise an average 21% .

Now, a letter from industry trade association Water UK to Ofwat, seen by Sky News, has set the bodies on a collision course.

Read our full story here ...

More employers are offering sabbaticals as a way to boost employee wellbeing and improve staff retention, according to experts.

A new poll shared with The Guardian by the Chartered Management Institute (CMI) reveals that more than half (53%) of managers said their firm offered sabbatical leave, compared with 29% who said they did not. 

In the public or charity sector, the leave was more likely to be available (62% of managers said it was offered) compared with the private sector (44%).

Some 80% of younger managers under 55 said sabbatical leave was important for employers to offer, compared with 72% of people over this age.

Sabbaticals offer benefits to employees and employers alike, said CMI director of policy Anthony Painter.

He said companies were "doubling their efforts to boost staff retention" in a "competitive job market".

Taxpayers should prepare for Labour to hike the rate of capital gains tax (CGT) in its autumn budget, a leading tax firm has said.

Blick Rothenberg chief executive Nimesh Shah said Sir Keir Starmer has "clearly signposted" that the budget will be "painful" for higher earners and wealthier taxpayers.

The bleak picture painted by the prime minister in a news conference yesterday came after chancellor Rachel Reeves accused the previous government of leaving a £22bn "black hole" in the nation's finances. 

"One obvious option to [fix] this without breaking Labour's election promises is by raising CGT," Mr Shah said.

"The prime minister and chancellor seem to be acting with urgency when it comes to tax changes, so taxpayers will need to prepare now for a likely mid-year CGT rise."

The tax firm boss said the potential changes to capital gains tax - which is essentially a levy on any profit you make when you sell or "dispose of" an asset - could "encourage individuals to leave the UK and become a non-UK tax resident".

"Currently CGT raises less than 2% of the total tax take – it raised £14.5bn in 2022-23, and this is £2.5bn down from the previous tax year. 

"To improve that tax take the chancellor could potentially increase the rate of CGT to 25%-30%, and apply a lower rate, of say 20%, for sales of business assets to support entrepreneurial growth."

A hotel chain in Manchester has been accused of cancelling bookings from customers on nights Oasis is planning to play in the city in 2025 - and relisting them for a higher price.

Sacha Lord, night time economy adviser for Greater Manchester, wrote on X last night that he'd been contacted by "several people" who were told their rooms had been cancelled by Maldron Hotels after a "computer error".

He claimed they were later "back up for three times the price".

Several users have replied saying they have been affected by the issue.

Oasis fan Mark Slinger, 36, who lives on the Isle of Man, told Sky News he booked a room at Maldron Hotels in Manchester city centre for 20 July - the final night of Oasis's run of shows at Heaton Park.

He made the £90 reservation through booking.com yesterday morning when the band announced their major reunion tour.

However, he was contacted by the hotel that evening asking him to cancel the booking.

The email says: "We are writing to inform you of an issue with your booking at Maldron Hotel Manchester City Centre. Due to a technical error, you have received a confirmation for a booking that was not successfully made. Unfortunately we are unable to accommodate your booking at this time."

It said a cancellation request had been sent, which Mark was asked to "accept promptly".

He told Sky News he hasn't accepted the request and "won't be doing". He also doesn't believe the issue was down to a "technical error".

"They realised they can cancel and re-sell at four times the price due to the Oasis gig," he said.

Maldron Hotels said in a statement to the Money blog that a technical error on Monday and Tuesday led to "substantially more" rooms being booked at its two Manchester hotels than were available for the nights of the four Oasis concerts.

It said it would be unable to honour bookings made on these dates as a result, and no bookings are currently being taken while the issue is investigated.

"This is not an attempt to resell rooms at inflated prices, rather an overbooking issue due to a technical error with our booking systems," the hotel said.

"Additionally, due to the same technical error, a small number of customers were able to book the rooms at a higher price later that evening. We will also be unable to accommodate these bookings.

"We will be honouring all bookings made prior to 26 August. 

"We sincerely apologise for any inconvenience caused."

Hotels operate dynamic pricing so that rates go up along with demand - so it's not unusual for prices to increase substantially around big events.

Yesterday, we reported that hotel prices for Oasis's first night at Wembley were already as much as three times as expensive as the week before.

"I had a quick look at a Holiday Inn a couple of miles away the week before the concert, it's £195 a night. The first night of the concert, it's £594 a night," said correspondent Matthew Thompson.

"So already people are getting on the hotel rooms even before the tickets go on sale. That gives you some sense of just how much demand there is for these tickets."

Have you been affected by this issue? Let us know via WhatsApp .

Some of the country's biggest energy companies are attending talks with the government today about how they can help struggling customers with their fuel bills this winter.

Centrica, EDF and Scottish Power are among those taking part in discussions with minister Miatta Fahnbulleh at the energy department, as are regulator Ofgem, Energy UK and Citizens Advice.

Our  political correspondent Darren McCaffrey  says it's part of a government attempt to have energy firms do more to help customers.

"What the government is saying is there isn't as much help as there has been previously, fiscally we're in a pretty desperate situation - they're looking for the companies to step up," he says.

There are three things in the government's mind:

• The energy price cap will increase by 10% from 1 October
• Household energy debts are said to be at record levels
• Most pensioners are losing their winter fuel allowance

Whether energy companies will be willing to pick up the tab to help is uncertain right now, though.

"The government is trying to push them in that direction," says Darren. 

"That's the key thing that will potentially emerge from this meeting."

By Sarah Taaffe-Maguire , business reporter

It's another good morning for anyone travelling to the US as the pound has remained near a more-than two-year high against the dollar. 

A pound still buys $1.32, meaning sterling goes further than at any point in the last 29 months. 

Market observers expect the US central bank to sizably cut interest rates, which is weakening the value of the dollar. 

As oil is paid for in dollars, having the currency weakened can make importing motor fuels cheaper. This morning, the benchmark oil price has fallen below $80 a barrel, standing at $78.79, the lowest since Friday last week.  

The share prices of the biggest companies on the London Stock Exchange are down 0.02% for the 100 most valuable (the FTSE 100) and 0.06% for the 101st to 350th most valuable (the more UK-based companies of the FTSE 250).

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Digital Multi-Currency Accounts & Cards For Travel Spending: YouTrip, Revolut, Amaze and More

Singaporeans are always looking for ways to save cash—especially when travelling. This is where digital multi-currency accounts come in.

The world of  digital multi-currency accounts is constantly changing—for better or for worse. A few months after adding  Google Pay compatibility  in Dec 2023 (finally!), YouTrip has also enabled bank withdrawals . Yup, you can now transfer money from your YouTrip account back to your bank account. About time!

But then there’s Instarem’s Amaze card . It  used to be lauded for its lucrative 1% cashback on top of your linked  credit card , but has since replaced this with a loyalty points-based system. At the same time, it also slapped on fees for certain top-up methods.

So, with all these changes, how do we know which is the best? Here’s the lowdown on  offerings from YouTrip, Instarem, BigPay, Revolut, and Wise (formerly TransferWise).  Let’s review and compare them to see which is the best digital multi-currency account.

BigPay vs Instarem Amaze vs Revolut vs Wise vs YouTrip: Which is the best multi-currency account? 

Swipe left to see the full table.

Best digital multi-currency card for rewards: Instarem Amaze Card  

The Instarem Amaze Card’s winning factor is the fact that you can earn Instarem rewards  on top of your own credit or debit card cashback or rewards . Double the rewards!

All you have to do is link your Mastercard credit or debit card (up to 5 cards) to your Amaze card or top up your Amaze wallet (via PayNow only, no credit card top-ups) and spend away. This  alone introduces a very enticing incentive for people to use the Instarem Amaze card while still spending on their existing cards.

Earning InstaPoints with the Instarem Amaze card

The Amaze card used to give you 1% cashback, but has now switched to a loyalty points system with InstaPoints . When spending overseas on your Amaze card, you earn 0.5 InstaPoints for every 1 SGD-equivalent in foreign currency . You used to be able to earn twice that rate if you topped up your Amaze Wallet and spent from there, but that’s been nerfed as of Jun 2024.

Jun 2024 brought another change (for the worse) for the Instarem Amaze Card: there’s now a cap of 500 InstaPoints you can earn per month . Do the math with me—you earn:

• 0.5 InstaPoints from S$1
• 1 InstaPoint from S$2
• 500 InstaPoints from S$1,000

So 1,000 SGD  is the maximum spend amount on which you can earn rewards. Any foreign spending beyond this will still only earn you 500 InstaPoints.

Additionally, take note there’s a minimum spend of S$10 (the equivalent in foreign currency) per transaction for you to earn InstaPoints on that transaction. Read the  Amaze Card T&Cs  for more information.

There are also certain categories excluded from Amaze Rewards , including healthcare, utilities, education, tolls, and postal services.

Redeeming InstaPoints on Amaze

InstaPoints expire after 12 months , so be sure to redeem yours within a year.

To redeem InstaPoints as cashback, do so directly on your Instarem App.

• 1,000 InstaPoints gets you S$5 cashback
• 2,000 InstaPoints gets you S$20 cashback

If you can afford to accumulate 2,000 points before they expire, there’s no reason to redeem 1,000 InstaPoints earlier instead of 2,000 InstaPoints later. The rate is much better with 2,000 InstaPoints.

Since it’ll take you a total spend amount of S$4,000 to earn 2,000 InstaPoints/S$20 cashback, your cashback rate is 0.5% . Think that’s low? The rate is halved if you opt for the 1,000 InstaPoint redemption instead.

You can also redeem points for discounts on your money transfers that are at least S$500. Redeem between 100 to 400 InstaPoints (S$1.25 – S$5) per transaction.

Pros—What we like about the Instarem Amaze Card:

• 0.5% cashback stacks on top of your credit or debit card rewards.
• Google Pay and Apple Pay compatibility for seamless contactless payments
• No foreign currency conversion fees
• No annual, processing, or application fees
• No card issuance, replacement or delivery fees
• The Instarem app automatically categorises your transactions into categories like “Food and Dining” and “Travel”. These days, we need all the help we can get staying organised.
• Since you can link up to 5 cards, the app also combines your cards into 1 and lets you track your spending across all of them regardless of the credit card provider.

Cons—What we don’t like about the Instarem Amaze Card:

• You can only link your Amaze Card to a  Mastercard  credit/debit card, and not to other card associations like Visa or Amex.
• Low cashback rate. You earn 0.5 InstaPoints per S$1 SGD, and redeem 2,000 InstaPoints for S$20 cashback. That’s a 0.5% cashback rate . However, it’s still better than nothing—most other multi-currency cards don’t offer any reward or cashback.
• Cap of  500 InstaPoints you can earn per month.
• Minimum spend of S$10 ( the equivalent in foreign currency) per transaction for you to earn InstaPoints on it.
• We found the linking service a bit wonky . Users have reported random declines or duplicate charges , including myself. To elaborate, I made a skincare haul on Guardian Singapore, had my S$238 charge reversed, and then recharged again.
• As of 1 Apr 2024, Instarem began imposing a 1% domestic fee (min. 0.50 SGD) on SGD transactions when you link a card to your Amaze card. This only applies to your monthly domestic spending in excess of S$1,000.

Overseas ATM withdrawal fees

Instarem amaze

Key features.

Enjoy Mastercard world benefits such as automatic cashback with over 300 dining, entertainment, hotel and shopping offers globally.

Amazing savings on global purchases & load up on rewards on FX spend

Link any Mastercard debit or credit cards to amaze OR top up your amaze wallet to use

Get InstaPoints on your FX spends and convert to 1% cashback or use as discounts on overseas money transfers.

Withdraw up to SGD1,000 cash daily at any ATM overseas from your amaze wallet.

Best $0 fee multi-currency card with free card top-ups: YouTrip

In Jan 2024, we posted a poll on our Telegram channel asking our subscribers to choose their preferred multi-currency card for travel spending. Guess who won by a landslide? Yup, YouTrip:

So why is YouTrip so popular?

What we like about YouTrip

If all you care about is cost, YouTrip is your best option. Its biggest flex is that it has no overseas transaction fees, no   currency exchange fees , and  top-ups are free for Mastercard credit and debit cards as well as Visa debit cards . Recall that these will incur a 0.5-2% fee with Revolut and 2% with Wise.

YouTrip’s ATM withdrawal fees are also competitive. Your first S$400 for the month is free—slightly higher than that for Wise and Revolut. After this, YouTrip will charge you a  2% withdrawal fee.

And on top of all that, in Jul 2024, YouTrip finally began allowing users to transfer money from their YouTrip accounts back into their bank accounts (i.e. a bank withdrawal) . That fixed one of the biggest issues YouTrip naysayers had with the platform.

The catch is that you can only do a bank withdrawal on money that entered your YouTrip account via these means:

• Top-ups done via PayNow and Linked Bank Account (eGIRO)
• Reversals from transactions using PayNow or Linked Bank Account top-ups
• Dispute Credit or Dispute Resolution
• Merchant refunds
• Insurance Cashback
• YouTrip Surprise Cashback
• YouTrip Perks Cashback

If you input money to your YouTrip account via debit or credit card, you cannot transfer it to your bank account. Find a way to spend it instead. If it’s a small amount, I suggest you use your YouTrip card for your bus and MRT rides until you’ve burnt the balance to the ground.

Other restrictions include the fact that bank withdrawals have to be done in SGD (convert other currencies to SGD first) and you’re limited to 10 bank withdrawals each month . Beyond those 10, you’ll have to request for a refund, which will incur a S$10 processing fee .

What we don’t like about YouTrip

So now, what are the disadvantages of YouTrip? For one thing, you can only store up to 10 currencies in its e-wallet.

Its rewards system is also a bit troublesome—you have to dig out your YouTrip card for its Y-number when you want to redeem something from its YouTrip Perks page .  Granted, the mobile app does it for you, I find shopping on your desktop is a more comfortable experience because you can multitask, and compare prices between two tabs.  

Better deals can also be had within the app, but it’s on a limited-time basis and not built into the functionality of the card unlike the above mentioned providers. Also, some users have reported that some of the promotions don’t work, like how this anonymous user has sent us a screen recording of a Shopee cashback deal leading to an error page, saying that the “Budget has been exhausted” .

However, if you already have a YouTrip card sitting in your wallet, make use of the 0% foreign transaction fee to buy stuff online in other currencies or link it to foreign mobile apps such as WeChat or Taobao.

Pros—What we like about YouTrip

• Free top-ups for Mastercard credit/debit cards and Visa debit cards—this is a big win compared to other cards!
• No overseas transaction fees
• No currency exchange fees
• First $400/month free ATM withdrawal
• Supports Apple Pay and Google Pay
• You can now do 10 bank withdrawals a month

Cons—What we don’t like about YouTrip

• You can only exchange and store 10 currencies
• Desktop experience is cumbersome
• No cashback benefits
• You can’t do a bank withdrawal on money that you added to YouTrip using a credit or debit card.

Overseas ATM withdrawal fee

Exchange 10 currencies (SGD, USD, EUR, GBP, JPY, HKD, AUD, NZD, CHF and SEK) 24/7 using their app. You can monitor the exchange rates in order to lock down the best rates.

Pay using your linked Mastercard in 150+ currencies while getting charged charged 0% transaction fees on the wholesale exchange rate.

Withdraw cash from overseas ATMs labelled Mastercard, Maestro or Cirrus, charged at 5 SGD per withdrawal, in any of the 10 currencies stored in your multi-currency wallet.

No annual card fees, minimum income or account balance required

Runner-up for best low/no-fee multi-currency card: Revolut

If you ask me, Revolut plays second fiddle to YouTrip as far as non-rewards focused multi-currency cards go. Let’s talk a bit about the plans it offers and how it works, then compare it to YouTrip.

Revolut gives us 3 plan options, the most basic of which is free. Here’s a quick comparison of the everyday benefits of all 3 cards:

And here’s a summary of their travel benefits:

For a noob traveller like me who doesn’t often leave Singapore’s sunny shores, I like the Standard plan.

First of all, it’s completely free to get. Even the card delivery to your doorstep is free (assuming it’s your first Revolut card).

Secondly, it provides one of the most essential services I’d be interested in during overseas trips—currency exchange (fee-free on weekdays), overseas spending, and overseas cash withdrawal.

The limit for cash withdrawal is $350 per month under the Standard plan. Admittedly, that’s not a very high limit. It’ll do if you’re strapped for cash overseas, but you can’t depend on this card for cash during long haul trips, like if you’re backpacking across Asia for a month.

At the other end of the spectrum, Revolut offers their $19.99/month Metal plan. This card lets you withdraw $1,050 per month overseas for free, on top of unlimited fee-free currency exchange on weekdays, unlimited fee-free international transfers (up to the allowed regulatory limit) and up to 1.5% cashback.

The Revolut Metal card costs S$19.99 a month or S$199 a year. Y ou get a discount if you pay upfront—it’s S$199 as opposed to S$239.98 if you were to pay monthly.

How does the Revolut card work?

Unlike the Instarem Amaze card, you can’t just link your credit card to your Revolut card and call it a day. The Revolut card works more like the Amaze Wallet or YouTrip—top up money, spend it later overseas directly using your card or by withdrawing cash from an ATM.

Unfortunately, there are charges for pumping money into your Revolut account via card—yes, even their free Standard plan has these fees :

How do you avoid paying top-up fees on Revolut? You have to link a Singapore bank account instead of a card and top up your Revolut account from there.

The first top-up is free even if you use a card.

Comparing apple to apple, top-ups to the Amaze Wallet and YouTrip are free for Mastercard credit cards but chargeable at 0.62% for Revolut. So as far as top-ups go, YouTrip and Amaze win.

But what if you’re paying in cash? Factor in Instarem’s 2% ATM withdrawal fee, and suddenly Revolut’s 0.62% Mastercard top-up fee looks way more enticing. Revolut only charges you a 2% withdrawal fee (minimum $1.49) after the first S$350 or first 5 withdrawals (whichever comes first) per month. And of course, YouTrip is the lowest cost option here with no Mastercard top-up fee and free ATM withdrawals for the first S$400 per month.

Pros—What we like about the Revolut Card:

• Slickest UI
• Great integration with current phone payment methods, most notably Apple Pay and Google Pay. True story: I applied for a Revolut card 4 hours before my flight. Approval was instant, and I linked my virtual card to my Apple Pay within a minute. I then used Revolut via Apple Pay for my entire 1-week trip to the UK.
• Free ATM withdrawals (up to $350, $700, or $1,050 per month depending on your plan)
• Choice of 3 plans, including a basic Standard plan with no fees
• Premium and Metal plans come with other perks like airport lounge access and travel insurance coverage.
• Fee-free currency exchange on weekdays. This is unlimited for Metal plan users, but capped at $5,000/month and $15,000/month for Standard and Premium plan users respectively. If you exceed this limit, Standard will be charged a 1% fee, while Premium customers will be charged a 0.5% fee.
• Up to 1.5% cashback on Revolut Metal card, capped at the monthly subscription fee of S$19.99.
• You get 5 free transfers to bank accounts or cards in Singapore each month.
• Supports a large number of currencies—send money in 50+ currencies and convert 30+ currencies in the app.
• This is kinda silly, but Revolut cards let you have some fun with their card faces. You can customise your card and make it yours. Do note this comes with a fee though.

Cons—What we don’t like about the Revolut Card:

• Surcharges to top up your Revolut account with a card range from 0.30% to 2.08% depending on the card type. You have to top up from a linked bank account to avoid top-up charges.
• 1% currency exchange fee on weekends. This applies even if you use your bank account as the top-up method.
• Beyond the 5 monthly free transfers to bank accounts and cards in Singapore, you’ll be charged S$2.99 per transfer.

Spend in over 150 currencies

No fee on international ATM withdrawals, up to S$1,050 per month depending on the plan (subject to 5 withdrawals per month)

Send money domestically and internationally to 150+ countries (both bank transfer and instant card transfer)

Debit card with minimum top-up of S$20

In-app budgeting & analytics and Vault features to manager your savings

Ability to split bills easily with anyone

Free and instant P2P transfers to other Revolut users globally

Invest in 1000+ global company shares, 110+ crypto tokens, commodities with live watchlists, trading charts, market news and learn modules

Premium and Metal Add ons : Lower or no fees across multiple products (e.g., FX, Remittance, ATM, Crypto, Stocks, Commodities), Complimentary travel insurance, Customised metal card, Premium card with three exclusive designs, Priority customer service and LoungeKey Pass access to airport lounges around the world

Apply via MoneySmart and easy 5 minute setup via Revolut mobile app

Revolut vs YouTrip

Revolut and YouTrip are my top picks for multi-currency cards which main purpose is to let you spend overseas with no or low fees. (If you’re looking for a multi-currency card that can earn you cashback, you are basically limited to Instarem Amaze or Revolut’s Metal tier.)

Revolut and YouTrip are almost neck to neck in many ways, but YouTrip comes up on top for convenience with topping up your e-wallet:

Best free digital multi-currency card for travel perks: BigPay

BigPay is completely free to sign up for and comes with no annual fees . Does Big sound familiar? It’s the subsidiary of low-cost Malaysian carrier, AirAsia, and that means you can use it to redeem discounted flights, meals from AirAsia food, travel insurance and even investments. Sometimes, BigPay users also get flight deals and promotions on AirAsia.

It’s also useful if you already have an AirAsia account because you can link the 2 up to reap even more benefits. Receive 1 AirAsia point for every S$5 you spend on your BigPay card. These points expire after 24 months.

Do note that there’s a limit of S$300 daily on contactless payments . Plus, chip + pin transactions are subject to the MAS yearly limit of S$30,000. 

Pros—What we like about BigPay

• Free—no joining fee, annual fee, or account service fee
• First overseas ATM withdrawal is free
• AirAsia benefits

Cons—What we don’t like about BigPay

Essentially, its fees :

• Overseas ATM withdrawal fee : 2% after first withdrawal
• Currency conversion fee : Up to 1% + network charges
• Cross-border transaction fee : 0.5% + network charges
• Mastercard Debit: 0.60% (Domestic) / 3.05% (International)
• Mastercard Credit: 0.70 (Domestic) /3.30% (International)
• Visa Debit: 1.25% (Domestic) /2.50% (International)
• Visa Credit: 2.30% (Domestic) / 3.00% (International)

I’m not a fan of BigPay because the top-up fees already set you back before you’ve even begun spending. Add the currency conversion fees to that, and possibly the ATM withdrawal fees, and you’re going to end up paying a lot in fees. I doubt the AirAsia perks BigPay comes with will make up for that.

Best multi-currency account for remitting money: Wise

Wise (formerly TransferWise)’s strength lies more in its ability to remit and hold multiple types of currencies as opposed to spending money through its e-wallet. This is shown by the fact that, out of all the digital multi currency account providers, it supports one of the highest number of currencies to store and send, at over 40. 

There is something I like about Wise that’s specific to my bad travel habits. I often underestimate the cash I need overseas and end up looking for a money exchanger or ATM. If you’re like me and don’t want to pay ATM withdrawal fees, Wise lets you withdraw up to $350 for free each month.

If you’re looking for loyalty points (like the Instarem Amaze card) or travel perks (like BigPay), Wise may disappoint you. The multi-currency card provides no special benefit to everyday consumers other than the ability to spend from the wallet. You’re better off using Wise to send money to your loved ones overseas, but it depends on the region that you’re sending to as well. Find out what I mean in this article about the best remittance services .

Pros—What we like about Wise

• Free overseas ATM withdrawals —Up to 2 withdrawals (less than $350) per month.
• No joining fee
• High number of currencies: 40+ different currencies in 160 countries.
• Transparent currency conversion fees  that you can easily check online.
• Supports Apple Pay and Google Pay.

Cons—What we don’t like about Wise

• No cashback or reward benefits
• Visa : AUD, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, MXN, MYR, NOK, NZD, PLN, RON, SEK, SGD, TRY, USD
• Mastercard: AUD, CAD, CHF, EUR, GBP, HUF, JPY, NZD, PLN, SGD, USD
• S$8.50 fee to order your card (digital card is free)

One account to spend, send and receive. Hold money in over 40 currencies

Convert currencies on the go at better rates than banks and money changers

MasterCard debit card that lets you withdraw 350 SGD from overseas ATMs every 30 days for free and spend money abroad at the mid-market rate

A card to spend in over 40 currencies in over 150 countries

Get your own international bank details to receive payments in USD, SGD, GBP, EUR, AUD, NZD for free

Send money overseas and receive money from abroad using your account

Between mid-market rates, wholesale rates, and real-time exchange rates: what’s the difference?

As a consumer, this is not something that you should base your decision on. Essentially what those above mentioned terms are talking about is the constantly changing rates of foreign currencies, and you can check it through the tools provided by Visa , Mastercard and Reuters . The difference will mostly boil down to the nearest cent, as illustrated in the Instarem Amaze card review .  

Does that mean I don’t have to exchange foreign currencies ever again?

For short trips and urban cities, you may be able to get away with not having the local currency in cash, and just rely on debit. In most cases though, I reckon you’d still want to make a trip to  Change Alley or Mustafa Centre to prepare some cash on hand.

This is because many countries are still very dependent on cash and the limit of S$350 for Wise and S$1,050 for Revolut (with Metal Plan, S$350 otherwise) without fees may not be sufficient for long trips.

Don’t forget that you’d have to hunt down the right ATM terminal overseas to get fee-free withdrawals. Otherwise, admin/processing fees may apply.

Is using a digital multi currency account better than a bank’s?

Banks rely on legacy structures that are still in place, which can mean unfavourable exchange rates and high fees.

However, borderless multi-currency accounts like Instarem, Revolut and Wise are not tied to legacy structures like the SWIFT network and multiple bank partnerships. Therefore, they can provide much lower fees, up to 6 times cheaper for currency conversion and remittance.

Example: SGD to THB on 6 Dec 2023

*Before fees are applied.

As you can see, Wise’s rate is the closest to XE’s live rate . Factoring in Wise’s transfer fees of approximately 0.58%, converting S$1,000 costs $5.80, yielding a net of THB 26,281. Overall, that still yields the most. 

A digital multi-currency account may be more convenient to apply for as well. Opening a bank account comes with requirements, one of which is to maintain a minimum balance. You don’t have to do that for electronic multi-currency accounts.

An irritating thing about using a multi-currency savings account is that you’d retain cents in various currencies that can’t be converted back after your travels.

With a digital multi-currency account like Wise, you can spend with your borderless Mastercard or Visa card and have the system choose the best existing currency to convert from. This gives you a chance to spend loose cents that you can’t convert back to Singapore Dollars.

That said, using a local multiplier savings account is convenient as you can use it to pay and withdraw money in Singapore seamlessly. You can also earn interest rates on certain foreign currencies.

In contrast, you can only withdraw up to $350 per month with no card fees overseas. This is with an electronic multi-currency account, and you can’t withdraw local currency in Singapore when the Payment Services Act was enforced in 2019.

That being said, the world is a lot different from what it used to be 3 years ago. Digital multi currency card accounts have caught up to the level of banks in terms of rewards and cashback promotions, whilst being on the bleeding edge of financial technology. Don’t miss out!

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About the author

Vanessa Nah  is a personal finance content writer who pens articles on the ins and outs of buying your first home, the T&Cs of credit cards, and the ups and downs of alternative investments. She’s a researcher at heart and leaves no stone unturned when it comes to breaking down complex finance concepts and making them easy to understand for the everyday Singaporean. When Vanessa’s not debunking finance myths, you’ll find her attending dance classes, fingerpicking a guitar, or (most im paw tently) fulfilling her life mission to make her one-eyed cat the most spoiled and loved kitty in the world.

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How high productivity helps fight inflation

What is productivity and why is it important?

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Productivity is a measure of efficiency—how much value an economy produces for each hour worked. But higher productivity doesn’t necessarily mean that people are working harder.

Most productivity increases are achieved when we work smarter . By investing in the right tools and equipment, companies can help workers produce more with the same amount of effort—but workers need the right education and training too. When productivity is high, it is better for businesses, workers and consumers. It propels the economy.

When productivity increases, businesses can produce more for each dollar they invest in their operations. That leads to higher profits, which benefits other participants in the economy. Higher productivity helps businesses adapt to cost increases without having to raise their prices. It also enables them to pay higher wages. When there is more output per worker, the supply of goods goes up, and workers have more money to spend. Together, these factors drive economic growth and, over time, improvements in our standard of living.

Learn how investing in tools and equipment can help a business do more, with the same amount of effort.

How productivity is measured

Productivity measures the economic value of a good or service produced against the amount of work it took to produce it. Measuring productivity requires an estimate of both the total value of an economy or industry and the total number of hours the employees in that economy or industry worked. The ratio between these is then reduced to its simplest form: the number of dollars of value produced for a single hour of work.

Productivity can vary a lot in different sectors of the economy. It depends on the value of what is produced and the amount of labour required to produce it. There is room for productivity growth in every sector of the economy. The adoption of innovative technologies like artificial intelligence and robotics can make businesses more efficient, but even with new tools and technologies, Canada’s productivity growth has stalled.

The amount the economy is producing has continued to increase, but this is because companies are employing more workers. The amount produced by each worker hasn’t been growing as much because many companies haven’t been investing enough in research and development, or the training and equipment that workers need to boost their output.

Why productivity growth is important right now

Higher productivity means the economy is producing more value for the same amount of work. That increased production drives improvements in our standard of living. Aging populations, rising trade tensions, geopolitical instability and the economic impacts of climate change could all cause inflation to increase. But higher productivity can help protect us from the worst effects because:

• when workers produce more for each hour worked, companies are more profitable and can absorb higher costs, including higher wages, without having to raise their prices
• more efficient production of goods and services means a greater supply, which helps keep prices and inflation lower
• more productive companies can withstand the economic disruptions that can be caused by events like geopolitical conflict and extreme weather

Canada has all the right ingredients to increase productivity. Our workforce is well educated, our universities have a strong research culture, and our trade agreements give Canadian companies access to international markets. Each of these is an advantage, but we also need to:

• invest in equipment and technology
• train and educate workers to build skills for the future
• ensure that Canada’s business and regulatory environment encourages competition, which helps keep prices down

The Bank of Canada also has a role to play in increasing productivity. By keeping inflation around 2%, we support the economic stability businesses need to invest in themselves. Low, stable and predictable inflation creates the best investment climate because it allows businesses to plan for the future with confidence.

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• What is travel insurance?
• Average cost
• When to buy travel insurance
• Average cost by age
• What does travel insurance cover?

How Much Does Travel Insurance Cost: Average Travel Insurance Prices in 2024

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• The average travel insurance premium this week is $299.14, up about 0.58% compared to last week.
• For travel in the United States, the average premium is $180 to $360.
• Travel insurance protects against delayed baggage, trip cancellation, and more.

The average cost of travel insurance fluctuates throughout the year, based on demand and whether or not school's in session. Also keep in mind that where you're traveling and how many people are taking the trip will affect your exact premium.

Understanding Travel Insurance

Travel insurance plans can cover both domestic and international travel. It could protect against something as familiar as delayed baggage (experts estimate 85% of lost luggage is returned to its owner within 48 hours) or as complicated as trip cancellation.

The benefits and limitations of travel insurance vary based on the company and plan. Above all else, this insurance coverage offers peace of mind.

Some credit cards offer a limited amount of travel insurance annually. If you need clarification on what your credit card offers, contact your provider to verify. These plans are great for cancellations and interruptions but may not cover more costly losses associated with unexpected medical expenses or emergency evacuations.

Individual travel insurance plans include this and much more. Travel insurance protects travelers from the unexpected when away from home.

Average Cost of Travel Insurance by Destination

Some countries are naturally more expensive travel destinations due to higher flight and lodging costs, which could increase travel insurance costs. Travel insurance will generally cost 5% to 10% of your total trip price, according to SquareMouth travel insurance .

Here's how the prices stack up:

Source: SquareMouth

How Far in Advance to Purchase Travel Insurance

According to an AAA travel survey , 88% of travelers say that reimbursement after a trip cancellation is the most valuable benefit of trip insurance.

According to data gathered by SquareMouth in the last six months, travelers tend to purchase trip cancellation travel insurance 53 days before their trip. Meanwhile, travelers without trip cancellation insurance will buy a policy approximately 16 days before their trip. Regardless of when you buy, cancellation protection can kick in to protect you against the unexpected.

Average Cost of Travel Insurance by Age

A traveler's age is a significant factor in determining the cost of travel insurance. The older a traveler is, the higher travel insurance premiums are. For instance, a senior traveler may need more insurance for health-related emergencies than a millennial.

When calculating your travel insurance premium, travel insurance providers consider the likelihood of a medical emergency.

Get your free travel insurance quote with SquareMouth »

Travel Insurance Rate Tips

Travel insurance rates through most providers fall between 4% and 8% of the total trip cost. Like the cost of flights, cruises, etc., rates may vary substantially based on the season, your original location, your destination, and other factors. This week, the average cost of a policy was close to $300.

To save money on travel insurance, tailor your policy to your specific needs and avoid unnecessary extras. You should also shop around to compare quotes from multiple insurers. Opting for an annual plan if you're a frequent traveler, checking existing coverages from other insurance policies or credit card benefits, and choosing a policy with a higher deductible can significantly lower your premiums. Always read the fine print to understand your coverage fully, ensuring you don't pay for redundant or irrelevant features.

To find affordable travel insurance, consider using online comparison websites like SquareMouth or InsureMyTrip to see rates from various providers. Other ways to save include purchasing directly from insurance companies, exploring package deals from travel agencies or airlines, utilizing included coverage from credit card benefits, and checking for discounts through membership organizations such as AAA or AARP.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

**Enrollment required.

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