Travel Money

Bureaux de Change – How to Help Your Customers Enjoy the Perfect Holiday

Fairly recent (11^th October) Foreign Travel Advice from the UK government (gov.uk/foreign-travel-advice) for Martinique, caught the world of tourism by surprise. Unrest had become violent in this otherwise idyllic Caribbean destination – mainly because of high prices when compared to mainland France. Martinique is a French overseas territory and the cost of living is approximately 40% higher there than in European France. But what has this got to do with local bureaux de change?

More than it might seem at first glance. Rather than just being the place to get travel money, a local currency exchanger can serve a genuine community need for up to date information as well as good exchange rates.

More than just a bureau de change

At the time of writing, other Caribbean destinations carry warnings too. However, these have referred mainly to the unusually active 2024 hurricane season which runs, roughly, from June to December. Plus, both Cuba and Jamaica were affected by an earthquake in mid November. The warnings forecast a dip in tourism for these destinations, potentially deterring future visits. Combined, they highlight the central importance of careful holiday planning – another opportunity for a local bureau de change to help out.

Preparation – the key to safety and enjoyment

For many holiday-makers, a trip abroad is still a significant discretionary purchase, influenced by cost, safety considerations, and the practicalities of travel arrangements. Amid these concerns, there’s a useful conversation to be had about preparedness, particularly regarding the financial aspects of travelling abroad.

As well as signposting advice from the Foreign, Commonwealth and Development Office (FCDO), bureaux de change can offer some simple suggestions about travel money. This can be “obvious” things like reminding customers to tell their banks they are travelling abroad (so card transactions can be authorised without lengthy checks or automatic blocks) and recommendations about travel insurance, another travel essential.

A better bureau de change solution, for a smoother journey

This is also an opportunity for bureaux de change to step in and offer the best of their specialism: foreign currency travel money. To maximise benefits this should offer not just the most competitive exchange rates. It also needs to come with a convenient click and collect service, on the same or next day basis. And what about extras like a travel money buy-back guarantee and a loyalty scheme?

However, it can be hard for independent or small chain bureaux de change to provide all these benefits on their own. Enter Money4Travel, from travel money specialist Essiell. This is the versatile and cost effective answer to how to provide the above key benefits to local customers.

Build in convenience, and add value

Subscribing bureaux de change and independent currency exchangers benefit from Money4Travel’s unique offering. Money4Travel guarantees to provide the best exchange rate within a ten minute drive of a customer’s address. Typically, for local foreign currency retailers, this expands their catchment area and helps build their brand.

For the consumer, the process is easy. They benefit from the following.

• Straightforward online booking and paying, with click & collect from a local currency exchanger.
• The best exchange rate within a ten minute drive of the customer’s address, whether home or work.
• A buy-back guarantee for their left-over currency when they are back from holiday
• A loyalty scheme with discounts

 

For the currency exchanger, benefits include these unique strengths.

• A growing local customer base.
• Because of the rate promise, the ability to compete effectively with the big players like the large supermarkets.
• Automated screening to comply with anti-money laundering regulations.
• Instant and secure bank payment to bureaux
• Fair and transparent subscription pricing.

 

Democratising travel money for bureaux de change

One of the features of Money4Travel is the way it levels the playing field for independent and small chain bureaux de change. Plus, by focusing on local markets it brings value to the high street, whether that’s via currency exchange specialists, or as part of other businesses. Jewellers, pawn-brokers and some convenience stores have provided a travel money service for years, but now they can do so in the knowledge that they really are competitive on a daily basis. And at the same time, the customer enjoys great benefits that are difficult to find elsewhere. In fact, it’s the perfect start to their holiday!

If you run a currency exchange service, why not get in touch with Money4Travel now?

 

By Declan Morton,  writer and editor at Money4Travel – the online service for foreign currency sales in the UK. More about the author.