Travel Money

Old Travel Favourites – Worth their Weight in Gold for Currency Exchange Services

If you search out articles about changing travel trends, it’s easy to assume that only the latest fashions matter. And indeed, there are lots of alluring descriptions of new destinations or holiday themes that catch the eye. For example, wildlife spotting in the quieter areas of the Algarve, or exploring the mountain villages of Slovenia both offer considerable appeal. Further afield, the UK winter is a good time to visit USA without the crowds. For anyone operating currency exchange services, it’s time to take note.

Customers taking these kinds of holidays are good news. They’re motivated to explore something new, and are likely to create return business. However, it’s also worth remembering the old favourites that don’t always hit the headlines.

Cater to traditional holidays to boost currency exchange services

For currency exchange services, it’s unwise to ignore new trends. It’s equally foolish to ignore the old favourites that can bring in regular business. Holidays still high on the list of favourites include the following. These are destinations where foreign currency is always needed.

• Holidays in the sun – whether winter sun, or summer beach holidays, these are still the mainstay of the UK travel industry. As tastes change, so do currency needs, so it’s worth keeping an eye on popular destinations.
• Winter sports – alpine skiing and snowboarding, of course, but there is also a growing interest in cross-country and Nordic skiing.
• European River Cruises – a long established market continues to hold its own and attracts higher income customers.
• Ocean cruises – especially in the Mediterranean, Caribbean and Asia. Multi-destination holidays have an enduring appeal and most travellers will understand it’s easier to start off with a mix of currencies rather than change money locally on board or in the destinations.
• Africa and the Middle East remain popular – Egypt, East Africa and the UAE are still popular and reliable destinations.
• Asia is back – after a slow recovery from the pandemic, travel to Asia is strong and growing.

 

How foreign currency exchange services can meet demand

Knowing there’s a market is one thing. Accessing it is another. This is especially the case for retail travel money specialists. Many are independent outlets, or one branch of a relatively small chain. They find it difficult to match the exchange rates offered by the much bigger multiples and supermarkets.

Now there is a solution. It’s simple, cost effective, and benefits consumers and retailers equally. It’s Money4Travel.

Money4Travel democratises travel money for everyone

The concept is simple. In a marketplace of currency exchangers, Money4Travel provides the best exchange rates daily, with a service focused on staying local to the customer.

For the consumer (soon to be the customer!) it’s easy. They simply enter a postcode and select the required currency. Money4Travel will identify a selection of currency retailers within a ten minute drive of their location. Money4Travel also guarantees that its subscribing members always have the best exchange rates. The customer can order currency online on a click & collect basis. They pay through Money4Travel, who in turn pays the currency exchanger the next day.

If you’re providing currency exchange services, the process is equally easy. Membership of the Money4Travel marketplace is available from £6.95/month and brings the following benefits:

• The best local exchange rates daily (within a ten minute drive of the customers’ location)
• Next day payment by instant bank transfer – reduces risk of fraud and clumsy reconciliations
• Mandatory email and ID verification on collection to ensure it’s the right customer
• Automated anti-money laundering screening online, for compliance and peace of mind
• A buy-back guarantee for the customer, and a customer loyalty scheme to encourage repeat business

 

Simplicity breeds success

The Money4Travel model is simple and cost effective. For consumers it has the appeal of convenience and great pricing. For retailers providing currency exchange services, it empowers the building of a strong local customer base, in the knowledge that even the ‘big players’ in the foreign exchange business won’t offer a better rate on your locality.

Money4Travel simply makes sense. If foreign currency is your business, why not get in touch?

 

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