Travel Money

Customer Loyalty – why it matters and how to build it

Travel has always been a competitive sector, and within that the world of currency exchange must rank as one of the toughest. Key to success – sometimes even survival – is customer loyalty. It can be difficult to create, but it really matters. Without it, businesses risk staying forever in a hand-to-mouth cycle of uncertainty.

This is particularly true for independent bureaux de change and currency exchangers. When your margins are tight and competitors include both high street banks and supermarkets, having loyal repeat customers is one of the best ways to build and maintain a strong business.

Loyal customers don’t just return; they promote your business through word of mouth. They’re more likely to overlook the occasional hiccup and less likely to compare your rates with every transaction. In short, customer loyalty helps make revenue more stable and operations more efficient.

Customer Loyalty? Trust comes First

For currency exchangers, trust is the foundation of customer loyalty. Most consumers rank trust as a top priority whatever the product or service. That stands to reason, and it may even be ahead of price, rewards, and convenience.

Building trust starts with transparency. Rates and fees should be clearly displayed, and advertised offers must be honoured. Offer a fair buy-back policy and avoid the apparent expense of airport bureaux de change. Being upfront about how margins work can help reassure customers they’re getting a square deal. When trust is established, customers are far more likely to return without shopping around every time.

Local Connection still Matters

Many independent bureaux build their business on community reputation. But that can be hard when a large local supermarket always seems to have the best rate – more on that below.

Personalised, friendly service is a strength that no algorithm or app can replicate. Remembering regular customers, offering helpful travel advice, or simply being a familiar and reliable presence in the neighbourhood all contribute to a sense of local connection.

That local rapport is especially powerful when combined with online convenience. Customers increasingly expect to order currency online for pickup — but they still value a trusted face at the counter when collecting their cash. Balancing digital services with in-branch hospitality is key to sustaining customer loyalty in a hybrid world.

For Customer Loyalty, Make it Easy

Convenience is powerful, especially when combined with other benefits. Extended opening hours, in-store pickup, or home delivery  – if that’s what you offer – can all make a big difference, particularly for time-poor travellers. Crucially, customers want reassurance that the currency they need will be available when they turn up.

Speed and reliability matter too. Around a third of consumers cite transaction speed and consistent availability as key reasons for choosing a provider. When a last-minute traveller walks in, being able to serve them efficiently can win a customer for life.

Price still Plays a Part

Naturally, price is important, particularly for more cost-conscious customers. Offering consistently competitive rates can help encourage repeat business. For smaller bureaux, remaining competitive can seem like an uphill struggle, but once you have a price advantage – something which is achievable with Money4Travel – make sure your customers and potential customers hear about it loud and clear.

A final thought — use Tech to Stay Competitive

Independent bureaux often assume they can’t compete with the reach of the big names. But smart use of tools like Money4Travel can do more than level the playing field. For the consumer, Money4Travel guarantees the best price within a ten-minute drive of their postcode. Additional incentives include a buy-back guarantee and a customer loyalty scheme. Streamlined back-office functions complete the package. With this service, the high street currency exchanger has the competitive advantage previously associated only with high volume outlets like banks, supermarkets, and the Post Office.

Customer loyalty is never guaranteed — it’s earned, and then reinforced at every interaction. For bureaux de change, it’s built on trust, supported by service, and strengthened by convenience and fair pricing. Get those elements right, add the right tech, and loyalty will follow.

 

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