Travel Money - Which Currency Should You Take on Holiday?

With the Eurozone in turmoil yet again and the ever-fluctuating exchange rates, it can be difficult for holidaymakers and travellers to know how, when, and where they should exchange their hard-earned cash into foreign currency.

Greece is getting more than its fair share of bad press at the moment, and while there seems to be a real threat of them exiting the Eurozone and the Euro currency, holidaymakers are still being encouraged to visit the Greek Islands and take advantage of the cut-price deals available.

In the event that Greece does return to the Drachma during the summer months, there will almost certainly be a transition period where both Euros and Drachmas are accepted, but tourists are being advised to take a mixture of cash (Pounds and Euros), a credit card, and a prepaid card, to cover every eventuality. Holiday Insurance is also highly recommended, and if you book your trip through an ATOL-bonded tour operator, your flights and accommodation will be protected.

If the 'Grexit' does take place the Euro will most certainly be affected, and so anyone travelling within the Eurozone should probably hold onto their pounds, dollars, and any other foreign currency for as long as possible, and exchange just before you leave home or when you arrive at your chosen destination.

Credit and Debit cards are by far the easiest and often the cheapest way to get hold of your holiday spending money, and providing you bank or CC provider does not charge you an excessive amount for withdrawing cash abroad, you can benefit from up-to-date exchange rates directly from the bank.

If you are concerned about using your credit card abroad, consider using a pre-paid card instead. Loaded with just enough money to cover your stay, pre-paid cards provide instant access to cash, without the risk of being caught up in credit card fraud.

When travelling off the beaten track it is always a good idea to have a mixture of local currency and US dollars or Euros in your travel wallet. Many secluded hotels, restaurants, and shops have no credit card facilities, but most will accept a major foreign currency if you do not have sufficient funds to cover your stay.

As the saying goes "Money is the Universal Language", but things can still get lost in translation, so be prepared, and if all else fails "Smile (and hope) the World smiles with you"!

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