A one stop shop for you change money needs, find the latest foreign currency exchange deals, how to get the best deal and who you can trust.

Exchange Money

When you Change Money for a foreign currency, it's one of those things that confirm you are off on holiday. It can be exciting getting to know the new currency and what it works out to back home. Many holiday makers decide to pre order their currency with their local travel agent, along with their travellers' cheques, and many leave it to the last minute and buy their currency exchange money at the airport.

Many countries' currencies are controlled by a central bank to keep the monies regulated. Some currencies share a currency, for example the European Union 27 members who share the Euro. The Euro has the largest reserve after the US Dollar currency, and it is also the most exchanged currency after the US Dollar again.

Countries usually have direct control over their own currency, and the regulation of it is controlled by the Ministry of Finance or a Central Bank. The currency exchange rate is a regulatory body which regulates the exchange price of money between one country and another, as well as facilitating the trade between countries.

You can change money for your holiday in many places; however it is always worth shopping around for that bargain exchange money rate.

Despite an exchange rate, companies offering the service of change money still do make profit. Either from commission based money exchange, or altering their exchange rate. Airport exchange rates are usually higher as they can make profit from people needing currency last minute, which is why it is a good idea to shop around in advance when you change money.

When you buy on commission based exchange, the rate is usually very good. The agent will then charge commission fee however, on top of your exchange.

When using a non commission based exchange to change money, a commission fee is not charged, however the exchange rate is more in the agents favour than the customer. For example, the exchange rate may be £1 to $2, but your rate may be £1 to £1.50, compared to for example $1.90 on a commission based service.

It is important that you think about how much money you may need to take, as this can help you work out which service is best to go with, and which service gives you best value for the amount of money you would be exchanging. For example, if you are taking a large amount of amount of money on holiday (remember that you may need to declare this money to customs depending on the amount), you may be best to pay a small commission fee compared to the money that you are getting back, where as if you are changing a smaller amount of money, the money you'd lose to commission may be more than you would lose compared to a lesser exchange rate.

With so many people travelling these days, there are lots of providers to choose from with many deals to persuade you to use them as a provider. When booking your holiday, ask your travel agent were is the best country in which you might get the most for your money. For example, your money will go further in Goa, than it will in Barbados. Your travel agent will be able to advise you on where might be the best place to travel to suit your desires and you places to make your budget go further. You can however Change Money at many high street locations and super markets such as Thomas Cook, M&S, Halifax of Lloyds TSB for example.

If you haven't got time go around the shops, you can always Change Money online with companies such as Travel Ex. Companies often offer free home delivery of your currency when orders are made over £500, and you can often change your currency commission free once you come back from your holiday.