Stuck with leftover cash from holiday that you just don’t know what to do with? Say no more. Experts at Martin Lewis’ MoneySavingExpert (MSE) have unveiled their top tips for dealing with foreign notes and coins remaining from the summer holidays.
While it may seem obvious, keeping the currency in a safe place until your next trip abroad is their first port of call. But, if you’re just eager to get it out of the way, there are a few other options to choose from.
“If you won’t go back, but your currency’s for a common holiday destination, see if you’ve friends, or contacts on social media groups, planning a trip there,” the MSE experts advised. “If so, look up the ‘spot rate’ (perfect rate, eg on XE.com) and agree to sell at that price, then you both win.”
If this doesn’t take your fancy either, you can instead head to a currency exchange bureau. Importantly, the experts stress that you should avoid doing this at the airport as the ‘rates are hideous’.
Instead, try to go back to the same place you bought the money from. Chances are, they may have a preferential buyback scheme for returning customers, meaning they’ll exchange it at a good rate.
Last but not least, there is a final option for those who have very old currency lying around – and it’s especially useful if the money is outdated or no longer useable. Believe it or not, there are companies that will buy defunct currency from you, including the Britannia Coin Company and Leftover Currency.
‘Maria’, who’s a big fan of MSE, even claimed she made more than £100 from doing this, selling coins from Nigeria, India, Israel and various other countries across the world. She gave thanks to MSE’s advice from April 2022, writing: “I managed to exchange ALL of my currencies, including coins and got over £100! Thank you so much!”
