What with all the Brexit issue, Pound is fluctuating like no one’s business. Well, don’t be bummed about it. Anyone who is planning to travel to England should safeguard their Forex against all the exchange rate fluctuations:
- Buy your Forex on a CARD!
As advised by Telegraph a long time back as well, buy your foreign currency on a card! It’s the smartest way to carry your money around in a foreign land.
- …And Swipe that card directly on POS systems instead of ATM’s
ATM’s could again lead to extra charges as it depends on which ATM you are using to withdraw money. Make sure you have read the instructions for your card carefully before using them at ATM’s abroad. For example, the prepaid forex card offered by BuyForexOnline a VISA card and using it at any VISA ATM’s would not entail any extra charges for the first 2 withdrawals.
- Buy now even if you are travelling after 6 months
Now is the best time to buy GBP as the exchange rate is likely to fluctuate over the coming months according to this report by CNBC.
- Buy Euros too while you are at it
If you were planning to travel to Europe as well, buy those Euros along with Pounds now to be safe from any rate hikes later.
- Shop around..
…For the best rates and avoid poor deals offered at the airports and ferry ports. Plan your finances in advance to avoid any rush decisions. Look at multiple options before you decide and make a Forex purchase.