Do you have some leftover foreign currency from your last trip abroad? Would you like to convert it back into pounds? This short guide will help you sell your unused currencies at the best buy-back rates available.
What are my options?
A recent UK survey found that British holidaymakers have on average £97.58 in foreign currency at home. The reason for this is many travellers don’t know where they can easily change the travel cash back to pounds.
There are a few options for selling your currency, including the Post Office, high street bureau de change, some banks, some travel agents and of course online!
While traditionally the high street was the only option, the online market has increased in popularity, security and competitive pricing making selling currency online the smart choice.
Why are high street bureaus generally more expensive than online currency exchange providers?
High street foreign exchange companies are generally more expensive than their online competition as set their rates at the beginning of the day, with enough margin to cover fluctuation of the exchange rate during the day, making sure they won’t lose out if there are changes in the market. Whereas online foreign exchange companies can change their rate continuously throughout the day following the fluctuation of the market. We at Travel FX update our currency buy back rates continuously throughout the day so we can offer you the best currency buy back rates we can. Not only that, but we don’t have the overhead expense of shops or walk-in offices, we keep our overheads low and pass the savings onto you.
Comparison of Travel FX buy back rates against high street rates
Buy back rates for selling €500 (euros)
| Provider | Buyback rate | What you would receive in pounds |
|---|---|---|
| Travel FX | 1.173 | £426.26 |
| Nat West | 1.2398 | £403.26 |
| Marks & Spencer | 1.2894 | £387.78 |
| John Lewis | 1.2901 | £387.56 |
| Post Office | 1.34 | £373.13 |
As you can see Travel FX offer considerably better rates than the high street buy back providers list here. That’s a whopping £53.13 saving by selling €500 via Travel FX rather than to the Post office!
The Cost of Selling Currency Online
The cost at which you are going to sell your currency depends on two factors – the exchange rate and delivery costs for Royal Mail Special Delivery
Check out our latest buyback rates here
How do I sell currency online?
The process is simple to sell currency online via Travel FX, we can exchange over 30 different currencies and pay the pounds directly into your bank.
- Select the currency you would like to convert
Select the currencies and amounts you would like us to convert. Remember we only accept notes.
- Complete the buyback order form
We’ll ask for your personal details, such as your address. We need this info to comply with financial regulations, but we’ll never share it. We also need the bank details where you want your funds to be paid in to.
- Post your currency registered delivery
Send your currency to us via Royal Mail Special Delivery. Please make sure the item has been insured to the correct value for your peace of mind and keep hold of the tracking ID.
- Receive confirmation
Once we have received your currency, the buyback rate at the time will be applied and we will make payment to the bank account details you have provided.
- Receive payment
- We pay GBP (£) into your account. You can expect an email notification once the amount has been paid.
Summary
Get more back from your leftover holiday money by selling online! Check out our latest currency buy back rates here.
