Now is a bit of a funny time for travel money. The skiing season hasn’t started and it is too early to think about holiday money if you are going away for Christmas. In fact it is too early to think about Christmas at all! Now as a currency provider you need to keep your staff busy and working and earning you money all year round. So what do you do in periods like this where there are no looming school holidays and there are big bills on the horizen for most families? The answer seems to be start discounting rates. We are seeing lots of sales appearing on currencies where each provided tries to offer the best exchange rates for 24-72hrs. It idea is I think to try and grab those people who have made plans and have the money in their banks.
Every order placed today is one your competitors will not get next month. It also helps them balance the workload somewhat, keeps staff busy now and takes some of the pressure off in December and January.
I was thinking about this at the weekend. There are other advantages as well for the normal person who wants their currency before Christmas or in the New Year. I wonder how many more parcels go missing or are delayed over Christmas period compared to other times of the year? You can never lose your travel money as that is a guaranteed special delivery and if it is delayed then you are liable to compensation. That is why the delivery charge is so high if you order under a certain amount (the providers pay the same if you order £1 or £2,500)
If you do already have your travel money put aside then it is worth looking out for some of these sales. They rarely ever give much notice to stop competitors from matching their rates but they are becoming quite frequent at this time of the year.