Travel Money Currency Conversion Fee Calculator

Travel Money Guide (UK 2024)

How Travel Money Pricing Works?

Every travel money method costs more than the 'interbank rate' (mid-market rate banks charge each other). The difference is how providers profit. Pricing components: FX markup (spread): hidden in the exchange rate. Provider gives you 1 GBP = 1.10 EUR instead of true 1.14 EUR. The 0.04 gap is 3.5% spread. Typical spreads: high street banks: 3-5% spread. Bureau de change (airport): 5-10%+ spread. Post Office, supermarkets: 2-4% spread. Fee-free travel cards (Chase, Starling, Wise): 0-1% spread. Travel cards and fee-free debit cards consistently offer the narrowest spread of any option, making them the cheapest way to spend abroad for most travellers.

What should I know about Best Options 2026?

Best for most travellers: Chase debit card (UK). Mastercard exchange rate (close to interbank, ~0.5% above). No transaction fees. No ATM fees worldwide. Free to open, no monthly fee. £15 cashback intro offer. Starling Bank debit. Same Mastercard rate. Free ATM withdrawals worldwide. Excellent app. Free monthly account. Wise (formerly TransferWise) debit. True mid-market rate. Small percentage on top (0.4-0.7%). Best for very small amounts. Free first £200/month ATM. Monzo: free £200/month ATM withdrawals abroad, with a small fee applying above that monthly limit.

What's the difference between Cash and Card Strategy?

Card-only countries (most of Europe, urban Asia, US, Canada, Australia): 100% card usage. Carry £100-200 equivalent emergency cash only. Cash-needed countries: rural Spain/Italy. Eastern Europe outside cities. Most of Africa. Latin America outside cities. Parts of Southeast Asia. Strategy: small amount of cash before travel (£100-200 worth). Withdraw more on arrival using fee-free debit card at local bank ATM (NOT in airport — same bureau de change pricing). Avoid 'Dynamic Currency Conversion' (DCC) — always choose to pay in the local currency rather than pounds when offered the choice at a foreign card terminal or ATM, since DCC applies a worse exchange rate than your card provider would.

What should I know about ATM and Online Strategy?

ATM selection: bank-branded ATMs always preferred. Independent 'tourist' ATMs (Euronet in Europe) charge significantly more. Look for established banks: BNP, Santander, BBVA in Europe. Wells Fargo, Chase, Bank of America in USA. Withdraw larger amounts less frequently (transaction fees decline as % of amount). Single £300 withdrawal vs three £100s saves multiple ATM fees. Online purchases abroad: order from foreign retailers (e.g. ordering accommodation, theatre tickets, restaurant bookings) usually charges in the retailer's local currency, so paying with a fee-free card directly is typically cheaper than converting cash in advance for online bookings.