Getting prepared for our holidays can sometimes be a mad rush, especially when booking a last minute bargain. With a valid passport, travel insurance, accommodation and flight or ferry tickets you’re all ready! One important thing to remember is your spending money, without it you may be having a very basic holiday.

To make sure you’re all set for your holiday we have provided a brief guide on currency exchange. Whether it’s for your first holiday or if you are looking for competitive rates we aim to assist.

Depending on where you are travelling you may be surprised by the currency that trades hands. With the introduction of the Euro many EU companies have changed from using their traditional currency such as the Italian lire, German Deutschmark and France’s franc to the Euro.

Broadsheet newspapers such as the Guardian, Times and Financial Times in particular contain daily updated financial information. As well as latest stock trading and investment news there are sections dedicated to currency exchange rates. From looking at these you can not only be sure of what the currency in use is but also get a rough idea of what sum you want to spend on holiday.

Before you embark on holiday it is recommended that you do a little research. As well as finding out about interesting locations, local amenities and tourist attractions it is also worth finding out about the mundane things which we take for granted in our own countries.

If you are taking just cash then it is recommended to find menus from the local area to find out the rough price for a meal if you are intending to eat out so that you can plan a realistic budget. If you are intending to take a cash card or other none cash forms of payment you may have to ready your account for making transactions out there. Speak to someone in your local branch for more details.

Travel agencies often offer currency exchange at competitive rates. Enquire with your travel agent when booking your holiday to see what services they offer.

Most high street banks also offer currency exchange. Like travel agencies the commission rate may vary between banks and the amount you will get will depend on the strength of the English pound when you exchange currency. Large branches of the post office offer a currency exchange that doesn’t charge commission for changing money. They also don’t charge commission when you return to Britain for converting foreign currencies back into pounds.

Alternatively you can change your money at a currency exchange when you arrive in your destination. Many popular resorts have several exchanges to cater for holidaymakers which can have competitive rates. It is worth finding out before you travel if there are currency exchanges in your area.