You’ve just finished an overseas project or come back from vacation after a well-earned rest. But you have this surplus foreign currency burning a hole in your pocket. Where and how can you buyback currency safely and for maximum return?
Where Can I Buyback Currency?
I hear you. You can approach a number of foreign exchange desks at the airport and/ or high street and compare rates. However, there is a quicker and more efficient approach…
After finishing a stint in Hungary and having to leave in a hurry, I had a wad of Forints left over. 120,000 Forints to be exact. As I was leaving Budapest, I got my first quote:
1. Interchange, Budapest Ferenc Liszt International Airport – 312gbp @ 383.93
After jetting into London Heathrow, I received my 2nd quote:
2. Travelex, London Heathrow – 276.68gbp @ 433.71
They may as well wear a Dick Turpin mask!
I then decided to get a quote locally on the High Street.
3. Thomas Cooke – 301.73gbp @ 397.70
A bit of a mixed bag and the airport in Budapest coming out tops. As you’d expect i.e host country has better buy back currency rate.
Instead of all this running around, jetting about and potentially getting fleeced…there is a better way. There’s a little site on the web called compareholidaymoney.com
It’s very simple to execute, so here’s the how.
How to Buy Back Currency
1. Go to CompareHolidayMoney.com
2. Click on the ‘Sell Currency’ tab in the header
3. Scroll down the page until you find your desired currency and click on its associated green ‘Compare Deals’ button
4. The window below will appear. Enter the desired amount (in my case, 120,000 Forints) and click on the red ‘Compare Deals’ button
5. A table will appear, providing you with various options
6. The table does a few things. Not only does it highlight the best buy back, it includes a number of reviews. So, based on these reviews and the buyback rate, I opted for Currency Online Group (COG). Now press the associated green ‘Sell Now’ button
7. Enter the currency and amount again using the drop down boxes
8. Enter all your personal details:
9. Enter all your bank details:
10. Check the, ‘ * I have read and agreed to the terms and conditions’ then click the green ‘Place Order’ button.
11. You will be presented with a confirmation screen like the one below (you will also be sent an email):
12. Send your hard earned cash AND the form (in steps 7-9) in a jiffy bag, to the designated company (in my case, COG).
13. Ensure you use special delivery at the post office, so the exact amount is insured.
14. Wait a few days to get paid…and voila (email confirmation of payment)
It was 3 pounds less than originally quoted, due to the current exchange rate. But after 6.45gbp post office insurance, I netted 323.54gbp, by choosing to sell my foreign currency online.
11.54gbp more than the quote in Budapest and 46.86gbp more than the quote in London Heathrow! So, well worth it in my eyes.
It’s not worth running around, searching for the best buyback rate to buyback currency. Best to use a trusted and validated source such as ‘compare holiday money‘ to execute the deal quickly, safely and providing you with the best buyback rate.
For small amounts of currency, it’s probably not worth the hassle of using such an online service. However, for larger sums of cash, it’s a no-brainer.
Now I would like to hear from you.
How did this comparison site work out for you?
Do you have any currency exchange nightmares?
Let us know in the comments…