‘Be Savvier’ About Currency Conversions

With the main holiday season just around the corner, UK travellers are being urged to be "savvier" over their currency conversions ahead of summer holiday season

A stark warning has been issued by finance experts amid the UK pound’s disappointing performance in the economy, during the current Brexit uncertainty.

Jared Jeser, CEO of WeSwap: “Brits are in danger of ‘missing’ money saving opportunities as they put off exchanging pounds to euros ahead of summer holiday season.

“With uncertainty still manipulating the value of currencies, in addition to political news causing unpredictable shifts, holidaymakers need to think strategically around timings for currency exchanges. If timed carefully, their swaps can work to their advantage. For holidaymakers, now may be a good time to buy your foreign currency before any other announcements have the opportunity to affect the exchange rate.

“All travel experts will tell you that, when it comes to travel money, it pays to be prepared. In order for holidaymakers to ensure they get the best exchange rates, they should be aware of these important dates and plan when they buy their holiday money accordingly.”

WeSwap describes itself as the People’s Currency Exchange, striving to remove all the stress, hassle and smoke and mirrors normally associated with currency exchange, “for as low cost to our community as possible. WeSwap matches travellers up and swaps their currencies directly, avoiding the costly fees imposed by other services.

The company says its people-powered platform helps travellers get the best rates of exchange – by way of a transparent 1-2 per cent fee on the mid-market rate – along with a suite of tools to help travellers budget better and be more financially savvy when traveling.

The company provides users with a WeSwap Mastercard that can be used to load or spend local currency, withdraw cash or order before jetting off.