We’re excited to be teaming up with our friends over at travel money providers WeSwap.com.
WeSwap’s process is simple, using the WeSwap app and Prepaid MasterCard®, you can bypass the banks and bureaux and swap directly with your fellow travelers – all at transparent rates at a fraction of the typical cost.
Plus, as a Not Just Travel reader, you’ll get £10 free if you sign up with WeSwap today.
Most travellers will agree, sorting currency isn’t often a priority when it comes to planning a holiday.
In fact, it ranks somewhere below finding a new hat, packing a suitcase or choosing which bar to visit on your first night!
The thing that most travellers don’t realise is that there’s a lot of money to lose, or gain, depending on where you go for your foreign currency.
The British public lost an estimated £5.6 billion last year on hidden fees and commissions from banks and bureaux. That’s a lot of ice cream by the pool. A lot.
The reason for this is simply that most people don’t even realise the disparity in costs and charges. Most people do one of following three things:
- A last-minute airport exchange. You know those little kiosks in the departure/arrivals areas? They will take 11% of your money to exchange it. That’s a fair few ice creams by the pool.
- Use a UK debit/credit card. It’s really hard to know how much this costs overall but you’ll be charged at least 3% on each transaction and on top of that the exchange rate will often be poor. What other choice do you have but to take the rate? You are ‘captive’.
- Thirdly, and still most popular with UK travellers by far – is to head to the Post Office, or M&S, or Thomas Cook on the high-street. These traditional providers will charge around 5% for the exchange.
Thankfully there are other options on the market that will get you a cheap and fair rate on your travel money. Like WeSwap.
WeSwap is the world’s first person-to-person travel money provider. That means that rather than getting your holiday money from a bank or bureaux, you load up your WeSwap card and swap into the currency of your choice. Your card then acts just like a debit card when you’re away – either pay over the counter or withdraw cash from ATM.
The really clever part about WeSwap, and one of the reasons that it’s so cheap, is that your money is literally swapped with that of a traveller coming in the opposite direction. They take your pounds; you take their Euros. Simple.
WeSwap always exchanges money at the inter-bank rate and are always open about the fees we add on top. They charge 1.4%, 1.3% and 1% – all depending on how quickly you need your money.
You can load up and swap at any time on your holiday and you can also track it on the app. So no nasty shocks when you get home either.
Quicker, cheaper, fairer – no brainer
And don’t worry about leaving it until the last minute, it’s all at your fingertips instantly.
So you can get on with all those other pre-holiday bits like you always have.
Written with the help of Liam Clarke, editor at WeSwap.com