Currency Exchange & Travel Money Calculator

Travel Money Guide

The Mid-Market Rate

The mid-market rate (also called the interbank rate or spot rate) is the midpoint between buying and selling prices — the rate you see on Google or XE.com. No consumer directly gets this rate — all exchange services add a margin. Understanding the markup: if £1 = €1.17 mid-market and an airport charges €1.02, the markup is (1.17−1.02)/1.17 × 100 = 12.8%. That means for every £100, you effectively donate £12.80 to the airport. The same £500 exchanged at: Wise (0.5% fee): €582. High street bank (4

Fee-Free Travel Cards

The best travel money options in 2024: Wise (formerly TransferWise) debit card — uses mid-market rate, small percentage fee (0.5-2% depending on currency), no ATM fees up to £200/month. Starling Bank — mid-market rate on all foreign transactions, free ATM withdrawals worldwide (no limit). Monzo — mid-market rate, free ATM withdrawals up to £200/month abroad. These three cards are consistently recommended by MoneySavingExpert and Which? as the cheapest ways to spend and withdraw abroad. Always pa

Cash vs Card Abroad

When to use cash: small merchants, taxis, street food, tips, and markets. Many countries still prefer or require cash (Japan and Germany notably). ATM cash in local currency using a fee-free card: typically the best rate for cash. When to use card: large purchases, hotels, restaurants. Cards offer purchase protection under Section 75 of the Consumer Credit Act (for credit cards over £100) and Visa/Mastercard dispute resolution. Never use credit cards for cash withdrawals abroad — cash advance fe

Pre-Trip Money Planning

Strategy for the best rates: get a fee-free card (Wise, Starling, or Monzo) before travelling — these take 7-10 days to arrive. Use this as the primary payment method. Withdraw only the cash you need at local ATMs (not airport ATMs, which often have poor rates). Airport exchange: only as a last resort for a small float. Pre-order currency from Post Office or online specialist at 2-5% less than airport rate if you need physical cash. Never exchange at hotel desks — they typically have the worst r