Getting everything ready and packed for your holiday can be a nightmare especially if you have booked a last minute holiday deal. With your passport, travel insurance, accommodation and flight or ferry tickets all being highly important one of the most important things is to remember exchanging your holiday money.

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 help you find the best deal.

When booking your holiday it's highly important you find out what the currency is of the country you're travelling to because then you can hunt around for the best deal. 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.

It's recommended that you do some research on the place your travelling to before heading off on your holiday. 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 only taking cash with you then it's a good idea to get an idea of how much the average meals and such cost there so you create a realistic holiday 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 exchanging 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.