Foreign exchange tips issued

Britons exchanging money to spend overseas have been issued tips on how to get the best deals.

The Times is offering guidance on using foreign exchange services, which may be of interest to expats.

Tips from the paper include buying currency ahead of international travel as this allows more time to search for the most affordable options.

The publication advises against visiting some bureau de change outlets, which can charge hefty commission fees.

Looking online for foreign exchange providers is recommended because companies often send currency directly to homes, while they also tend to offer good deals.

"The best currency rates tend to be available online," said the paper.

"You can order your currency over the internet and have it delivered to your door for convenience."

In addition, the publication discouraged Brits from withdrawing foreign currency from via their credit cards as this may attract high interest rates.

Meanwhile, the United Nations World Tourism Organisation recently stated that favourable foreign exchange rates may lead to more Brits making exchange transactions beyond the eurozone.

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By John Mills