Hotel booked? Check. Travel insurance? check. Sun tan lotion, sunglasses, reading books all packed? Check, check and check.
Foreign currency? Oh, I will sort out that when I arrive.
When it comes to purchasing holiday cash, many of us leave this till the last moment and sometimes completely ignore it until we have arrived at the airport.
According to a YouGov survey, the most popular choices for consumers looking to buy their holiday spending money before they went away included visiting the local high street, such as a travel agent, or alternatively visiting the Post Office.
Just as you will look for the best deals on hotels and flights, you should do the same when it comes to purchasing foreign currency.
It is a commodity which is often lumbered with poor exchange rates and high transaction fees.
Whatever you do, if you are looking to get the best rate then do not consider buying your holiday cash at the airport as it is the most expensive way.
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Knowing where the rates are heading is not an exact science”
Timing is a key issue and you would be wise to start thinking about currency at least a month before you fly off.
As a first step, taking a look at the exchange rates would be a good start as you want to maximise how much local currency you can get for your pound.
Looking at the euro, until relatively recently the single currency had maintained its strength.
We have recommended that customers purchase their euros as soon as possible whenever they saw the pound make gains against the single currency.
If you do pay in pounds, the merchant will charge you to convert the local currency into sterling and then charge you again to convert back to the local currency.
This process is called dynamic currency conversion (DCC), and in summer 2011 research by Caxton FX found that 37% of Britons were still being bitten by hidden DCC charges.