Pound surges to 10 month high, is it time to lock in travel holiday money?

As the pound surges to a 10 month high against the US Dollar, is it time to lock in some travel holiday money at this exchange rate, using a prepaid currency card?

Holidaymakers or those travelling to the US will benefit in the renewed value of the pound against the US Dollar.

Using a prepaid currency card for your travel money can benefit in a number of ways, including locking in your currency at the current exchange rate.

Prepaid currency cards are becoming increasingly popular and as such more and more providers are offering them, from high street banks such as Lloyds, to specialist companies such as FairFX and Caxton FX.

MoneyHighStreet currently has a special reader offer with FairFX

You can get a FREE FairFX currency card here – just sign up and load €10 and get the card free.

Check out our recent review of the FairFX currency card to find out more about it.

Checking the exchange rate offered by providers is vital. Many offering ’0% commission’ or ‘no commission’ are masking the true cost of the currency exchange.

Critically you need to assess how many US Dollars, Euros or other currency you receive for each pound.

This can vary significantly across foreign exchange providers, meaning with some you could be paying up to 15% more than others.