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FM40 - Holiday Cash You may think 'commission-free' means you are getting the best possible deal on your foreign currency. In fact, the exchange rate is also crucial. Essentially, the 'best' exchange rate will allow you to get the most foreign currency for your sterling. And very often, commission-free outlets offer poor exchange rates to make up their cut. So - if you want the best deal, you need to pin down a combination of the best exchange rate and the lowest rate of commission. Having said that, keep an eye out for the currency dealers who still charge high rates of commission on particular transactions. Many still charge a commission fee for Sterling travellers cheques - which typically adds 1% to 1.5% to their price. As a pointer, Travelex Online (www.travelex.co.uk) usually tops the 'best value foreign currency' tables. The Travelex Online 'promise' guarantees it will offer the best overall price for your foreign currency - or refund the difference. Marks & Spencer and the Post Office often occupy second and third place - so it's definitely worth including these three in your currency hunt. However, the rates, deals and fees associated with holiday money are constantly changing - so it's a good idea to spread your net a little wider as well and do some research. |
"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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We take great pride in our service, and would be delighted to invite you for a free 1 hour, no obligation meeting at our comfortable offices. Simply call us on 020 8346 0391 to arrange a mutually convenient time. This web-site was last updated on 17/01/2012 Specialist Dental Accountants for over 27 years. Copyright © 2003-2011 Mac Kotecha & Company. All rights Reserved. The information on this site is for general guidance only. It is essential to take professional advice on specific issues about their impact on any individual or entity. No liability can be accepted for any errors or omission or for any person acting or refraining from acting on the information provided on this site. We can still help you if you're not a dentist. Please click here
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