Travel

Currency warning for Britons over new €100 and €200 notes – have you made this error?


The pound to euro exchange rate might make for grim reading for holidaymakers, yet the release of new €100 and €200 notes may well have added extra worry to those about to head to Europe. Britons travelling to countries which use the euro as their currency method have been issued with a stark warning in light of the new legal tender. Currency experts have warned while the release of the two bank notes – which complete the Europa monetary set – offer more scope for carrying increased holiday spending money, travellers with the highest notes may well encounter issues. It comes as they are already struggling to max out their cash with GBP trading “flat” against the euro in a bleak scenario which traders believe will continue.

Speaking of the dangers of the new euro notes for Britons, Peter Rudin-Burgess from CompareHolidayMoney.com said: “If consumers find a €200 note in their wallet this summer, it is best for them to spend whilst in Europe to avoid being charged a premium for exchanging them back to pounds in the UK.

“Some smaller businesses in Europe will not accept larger notes.

“We contacted a small selection of holiday resorts, hotels and restaurants in Europe and found that 40 per cent of them do not accept notes larger than €100.

“We recommend to always check in advance to confirm whether larger notes will be accepted.”

This means Britons could convert the cash to the higher-worth notes, and yet not be able to use them while away, in what could be a hugely difficult scenario.

Peter added: “It is quite rare for holidaymakers to find €200 notes in their wallet, but they may find a €100 note.

“When consumers exchange currency, most online suppliers that we work with will try to offer a good mix of denominations.

“Some online suppliers will even allow you to specify the denominations you want.”

Meanwhile, he offered Britons some sage advice about how to get the most from a poor exchange rate.

The pound is currently “trading flat” against the euro amid the tumultuous UK political scene – with no upturn in sight.

Finance experts have deemed a “lack of significant volatility” today in light of no developments in either the leadership race for the Conservative party, or UK’s departure from the EU as part of Brexit negotiations.

The pound is currently trading at 1.134 against the euro, according to Bloomberg, at the time of writing.

In light of the statemate, Peter said: “Get your holiday money early. Buying holiday currency is integral to any holiday and it is not a last minute add on.

“You need to leave enough time to place your order and get it before you leave. We recommend three days.

“You tend to pay for convenience, for example you will pay an average of 15 per cent more if you buy your currency at the airport.”



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