Frequently Asked Questions

Here you'll find a list of the most frequently asked questions about our website and the products we compare

General

What checks do you perform on the companies that feature on your website?

All companies are subject to preliminary screening before we consider listing them on our website. This process involves basic checks of the company's website, registered address, contact details and other public information such as customer reviews and social media accounts to determine the age and legitimacy of the company before we engage with them any further.

Companies that pass our initial screening are asked to complete a detailed onboarding questionnaire that asks questions about the financial and legal status of the company and its directors. Our compliance team checks all public records and registers including Companies House, HMRC and the FCA to verify the information provided, and we may ask the company for further details before making a final decision.

Depending on the age and size of the company we may also conduct regular audits which involve similar checks to our onboarding questionnaire, as well as regular checks of the company's website, accounts and customer reviews. Companies are also obliged to notify us if there is a change in the financial or legal status of the company, or if there is a change of persons of significant control.

Despite these measures, it's important to note that we don't have any special insight or control over the day-to-day running of the companies that feature on our website, and as such we cannot guarantee their solvency. We advise all customers to conduct their own due diligence before transacting with a company, and where possible to take advantage of paying by credit or debit card to benefit from the financial protection that these payment methods offer.

What if a supplier goes bust after I have placed an order?

Travel Money is not regulated by the Financial Conduct Authority (FCA) which means you are not automatically protected if the company goes bust. However, you may be protected by your bank or card provider depending on how you paid.

Bank transfer

You have no financial protection and you may not be able to recover your funds if anything happens to the supplier after you've paid. For this reason we recommend that you avoid paying by bank transfer and use a credit or debit card instead (our comparison pages allow you to filter suppliers based on the payment methods they accept).

Debit card

Your funds are protected in the event of fraud or non-receipt under the card issuer's product and service rules. If a supplier goes bust you can instruct your bank to make a chargeback request against the supplier's bank which means you have a good chance of recovering your money.

Credit card

You have full legal protection under section 75 of the Consumer Credit Act. Section 75 states that the card issuer is equally liable with the provider of goods in cases where goods are not received which means your card issuer is legally required to reimburse you for the full amount (from £100 to a maximum of £30,000) if the supplier goes bust. However, it's worth noting that credit cards usually incur additional bank charges and interest (around £40 extra per £1000 spent) so you should balance up the benefits of full legal protection with the added costs of paying by credit card.

It's very unlikely that a company will suddenly go bust without warning - we've been running since 2010 and it hasn't happened to any of the suppliers we've listed - but it's always best to play it safe. Do your own due diligence on a company; read reviews, look them up online and where possible always pay by credit or debit card.

Why are the rates on your website different to the ones available on the supplier's website?

Occasionally, the exchange rates we show are slightly different to the ones available when you click through to a supplier's website. Although we strive to make sure our rates are as accurate as possible, in some cases this isn't possible due to limitations in how often we can update our rates.

Most suppliers provide us with a rates feed that contains their latest exchange rates. Each supplier is responsible for updating their rates feed whenever they change the rates on their own website, which can vary from a few seconds to once or twice per day. We don't know in advance when a supplier is going to update their rates feed, so we scan them every few minutes throughout the day and update our website whenever a rate has changed.

This means there may be times when a supplier changes the rate on their website, but we don't detect the change until some minutes later when our system refreshes. In all cases, the rate advertised on the supplier's website is the rate you'll receive if you place an order.

Buying Currency

How do I buy currency online?

Our travel money comparisons make it simple to buy currency online. You can choose to have your currency delivered to your door, or reserve your currency online for in-store collection.

Home delivery

  1. Go to our Buy Currency page and select the currency you want to buy.
  2. Enter the amount you want to spend and select your preferred payment method(s).
  3. We'll show you all the currency suppliers that match your search criteria so you can see the range of deals on offer. We automatically calculate the amount of currency you'll receive from each supplier after all costs, so the best deals are always at the top of the table.
  4. Click on a supplier to go to their website and place your order. Most suppliers will only deliver to the cardholder's billing address, but some may let you enter an alternative delivery address.
  5. Once you've completed and paid for your order, you'll be sent a confirmation email and your currency will be packaged and sent via tracked and insured delivery to your door within 3 working days.

Click & Collect

  1. Go to our Click & Collect page and select the currency you want to buy.
  2. Enter your location.
  3. We'll show you all the suppliers offering your chosen currency within a 10-mile radius of your location.
  4. Click on a supplier to go to their website and place your order. You'll be asked to specify which store you'd like to collect your order from.
  5. Once you've completed and paid for your order, you'll be sent a confirmation email and your order will be ready to collect from your chosen store usually within 1 working day.
How long does delivery take?

All orders are sent using Royal Mail's Special Delivery service which is guaranteed to arrive on the next working day. Most currency suppliers will aim to dispatch your order on the same day if they receive your payment before lunchtime, or the next working day if your payment is received after this time. Accordingly, we recommend you order no later than three working days before you are due to travel. If you need your currency sooner, check out our Click & Collect page to find your nearest high street currency exchange.

What happens if my currency is lost or stolen in the post?

In the unlikely event that your postal order does not arrive, you will be fully compensated by Royal Mail for the entire value of your order including any postage costs. All currency orders are sent using Royal Mail's Special Delivery service which is trackable and fully insured for up to £2,500 per package (if your order is worth more than this, it will be sent in multiple packages at no extra cost to you).

Will I need to be at home when my currency is delivered?

Somebody at your address will need to sign for your package when it is delivered but it does not have to be you personally. If nobody is at home when Royal Mail attempt to deliver your package they will leave a calling card with details on how to collect your package from the sorting office or to arrange a re-delivery.

Can I get my order sent to another address (e.g. workplace or a neighbour)?

This is largely down to the discretion of the currency supplier. Most suppliers will only deliver to the home address of the person paying for the order, but a small handful will allow you to specify an alternative delivery address. We've highlighted this in the supplier's extended description (click on 'More Details' in the results table) if we know that they will dispatch to a different address.

Can I order currency to be delivered outside of the UK?

You can't order travel money (cash) to be delivered outside of the UK because it's against anti-money laundering regulations. However, you can transfer currency electronically to a bank account overseas, for example to pay a bill or to send money to friends or family. See our money transfers page for a live comparison of today's latest money transfer rates.

Selling Currency

How do I sell my leftover travel money?

Each of our currency buy back partners have their own procedures and requirements for the buy-back process, but broadly speaking you'll need to follow these four steps:

  1. Go to our Sell Currency page and select the currency you want to sell.
  2. Enter the amount and choose whether you want to sell by post or in person.
  3. Our comparison system automatically calculates the amount of money you'll receive after any commission and fees have been applied, so the best deals are always at the top of the table. We also indicate the approximate cost of posting your currency using insured Royal Mail Special Delivery if you have chosen to sell by post.
  4. Follow the link to the supplier's website where you can follow their buy back instructions to complete your order. You'll need to either post your currency using the details provided or take your currency to your nearest store.

Most buyers will aim to pay you directly into your nominated bank account within 1-3 working days from the date they received your currency.

Can I sell coins?

Yes, we indicate which suppliers accept coins under the 'More Details' section of the results table. Please note that a lower exchange rate may be offered for coins; check the supplier's website for specific details.

None of the suppliers we advertise will accept low denomination (e.g. under €1 or $1), rare, commemorative or collectible coins. The buy back service is intended purely for foreign exchange.

Will I get the buy back rate advertised?

Most suppliers will use the prevailing buy back rate on the day they receive your currency which may be slightly higher or lower than the rate advertised. Some suppliers will guarantee the rate advertised online provided your currency reaches them within one working day of placing your order. If you are concerned about the exact rate you'll receive, we recommend you contact the supplier before placing an order with them.

What happens if the buyer disputes the amount of currency I sent?

All currency sent by post is opened and counted in full view of specialist recording equipment so disputes can be verified by both parties if needed. You can also request that your currency is returned to you, minus the cost of return postage.

How and when do I get paid?

Most buyers will aim to pay you directly into your nominated bank account within 1-3 working days from the date they received your currency.

Can I sell back old / withdrawn currency?

Yes, a handful of suppliers will buy back currency that is no longer in circulation; we have indicated this in their extended description in the results table. You may be offered a lower rate for old or withdrawn notes so check with the supplier before placing your order.

If your question isn't answered here, please contact us and we'll be happy to help.

Last updated 26 April 2021