hsbc travel money buy back

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Compare currency buy-back

Change your foreign currency back to pounds, covent garden fx travel money.

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How to compare currency buyback exchange rates

Enter your currency and amount.

Tell us how much travel money you have to sell and which currency you need to exchange .

Compare your options

Use our comparison tables to compare different firms and check their fees and charges to find the best currency buy back deal.

Choose delivery mode

If you send the money by post, you may have to pay for recorded delivery, so take the extra cost into account when making your choice.

Getting the best high street currency buy back rates

If you have euros, dollars or other currencies left over from a trip abroad, you can sell them to a currency buy-back service that will convert them into pounds. 

When you sell foreign currency, you get a buy-back rate from your chosen provider, which tells you how many pounds you can get for your unwanted travel money. 

For example, if the best euro buy-back rate available is 0.85, you will get 85p for every euro you sell.

But to find the right deal, you need to look beyond the best currency buy back rates.

Delivery costs, fees, and commissions also affect how much you receive, so work out what you'll get back in pounds after any expenses when you sell travel money.

Source: Money.co.uk currency buyback data for 2022

Currency buy-back FAQs

Where can you find the best travel money buy-back rate.

You can look for the best currency buy-back rates on the high street, but you could miss out if you ignore what’s available online. Use this comparison to check currency buy back rates including the best euro buy back rate from our selection of online providers. 

Rates may differ due to the fluctuating nature of currency exchange, so for the latest rate, please check with the provider.

What does it cost to sell currency online?

The costs you incur when you sell travel money can vary widely. So, you need to factor in:

The exchange rate:  choosing the highest foreign currency buy back rate available should help to ensure you get the best possible deal

Any delivery costs:  you will usually have to pay to send your cash to the buy-back provider

Some providers do not guarantee currency buy-back rates before you send your money to them, which could affect the amount you get back.

You can use any of the providers in this comparison to sell euros or other foreign currencies and exchange them back into pounds.

Here is more information on dealing with leftover currency

Can I sell any foreign currency?

No. You can sell euros, dollars, and other common currencies, but buy back services are not available for all currencies. Check with providers to make sure you can exchange your money, then compare rates and charges to find the best deal.

Can I swap my foreign currency into another?

Yes, if the travel money provider you choose allows it, you can exchange one currency for another; you could, for example, switch euros to US dollars.

Am I guaranteed to get the rate I see online?

Not always. Check the terms and conditions when comparing rates online – some currency buy back providers only agree a rate once they receive your money, which could make a big difference to how much you receive.

Can I send coins to be exchanged?

No, only notes are accepted, and some providers only take specific denominations, so it’s also worth checking this when choosing where to exchange any unused currency.

Can I exchange multiple currencies at once?

Yes. Provided the currency exchange you've chosen accepts all of them, you can swap more than one currency at a time. 

How long do I have until my foreign currency goes out of date?

This depends on the currency. 

US dollars never go out of date, while other countries periodically 'expire' older bank notes.

In many cases, they will still be accepted anyway. For example, new  euro notes  were introduced between 2013 and 2019, but the old versions have retained their value and can be exchanged. 

Turkish lira  from before 2005, however, is no longer accepted by businesses including foreign currency buy back services.

About our comparisons

Who do we include in this comparison.

We include every company that gives you the option of buying euros online. Discover  how our website works .

How do we make money from our comparison?

We have commercial agreements with some of the companies in this comparison. We get paid a commission if we help you take out one of their products or services.  Find out more here .

You do not pay any extra and the deal you get is not affected.

Learn more about travel money

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Below you can find a list of currencies to exchange

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1.28 05 USD

1 USD = 0.7810 GBP

Please note: Rates available to customers will be subject to additional costs. Read more

Last 1 Month GBPUSD The low and high points may not be visible in the chart. This is because the data points in the chart represent regular intervals but the low and high points for the period could be at any moment in time and these may not overlap.

This site provides HSBC's mid-market rates with a 1 minute delay Rates displayed are delayed by 1 minute. The rates shown will refresh every 60 seconds . These rates are indicative and are for informational purposes only. They are not available to customers and do not reflect tradeable prices on past or future transactions. Read more

Disclaimer: The information contained on this site is not (and should not be taken as) investment advice, an offer to sell or buy currencies, or other instruments, nor to enter into any transactions. Full Terms & Conditions

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Managing your money before, during and after travel

A quarter of holidaymakers admit they’ve spent between £100 and £300 more than they'd meant to while they’re away, according to our study[@sticky-censuswide-travel-survey-sept-2022].

Here are some tips to help you manage your money before you leave, while you're outside the UK and when you get back.

Before you leave the UK

Manage your finances before you go.

Whether you're travelling for one week or several months, it’s important to take some time to create a budget . Understanding your income and outgoings can help you work out what you can comfortably afford to spend on your holiday. 

You could use tools like our budget planner to help. 

As you note down your expenses, now is the time to set up Direct Debits to make sure any bills are paid on time automatically – giving you one less thing to worry about. 

If you’re looking to save money for travel , our savings goal calculator can help you work out how much you’d need to reach your goal.

Explore: Online money management tools

Think about travel insurance

If you’re not already covered. it might be a good idea to buy travel insurance as soon as you book your trip.

Travel insurance doesn't just cover you while you're away. It can also cover you for things that might go wrong before you travel, such as cancelled or delayed flights. Without travel insurance, things can get quite costly – should something happen. 

Explore: Should you get travel insurance?

Sort out your spending money

Our survey suggests debit cards (36%) are just as popular as cash (36%) as the preferred way of spending money outside the UK. Credit cards also remain a popular choice (25%).

From those of us who prefer to use cash, the majority (51%) still prefer to get it face-to-face from a bank or currency exchange before they travel. We're most likely to pick our provider by exchange rate (36%), followed by ease of use (22%) and how close it is to home (14%).

Depending on your situation and where you’re travelling, you may prefer to take cards or travel money . Or you may want to take a mixture of both.

Our HSBC Global Money Account allows you to spend money outside the UK (withdraw cash or make card purchases in multiple currencies) without paying HSBC fees – just as you would at home. It removes some of that unexpected spend – making it easier to plan and stick to a budget.

Global Money is available for eligible HSBC current account holders who have the HSBC UK Mobile Banking app. Terms and conditions apply.

You can also   order Travel Money online  from HSBC – choose home delivery or collect in a branch.

Understand the extras

UK holidaymakers say they’ve been pushed over budget by surprise holiday charges – luggage fees (22%) and over-priced hotel excursions (22%). 

It’s important to understand any extra costs when travelling abroad, including any fees or charges for using your card outside the UK .

Gather key contacts

Make a note of the number to call your bank from outside the UK, so you can get in touch if something happens while you’re away. 

If you're with HSBC, you can phone +44 1442 422929 from outside the UK. 

You should also do the same with your travel insurance provider and any other numbers you might need.

During your trip

Paying in local currency.

When shopping or eating out in a restaurant, you may be asked if you want to pay in pound sterling instead of the local currency. This is called dynamic currency conversion (DCC).

You’ll almost always be charged a higher exchange rate for choosing to pay in pounds. The shop or restaurant may also add on extra conversion fees.

If you choose to pay in the local currency, Visa or Mastercard will set the exchange rate, which in most cases will be lower.

Explore: Should you pay in local currency outside the UK?

Don't keep all your money in one place

Consider storing your cards and cash separately to reduce the risk of them all being lost, or stolen, at the same time. Use a safe to store anything valuable (including money) that you don’t need to have with you.

Budget your spending

Regardless of whether you’re using cards or travel money , it can be a good idea to stick to a daily budget for spending while you’re away.

By setting a reasonable target, you can make sure that, when you come home, you’re not stressed about money and in need of a holiday all over again.

Contact your bank straight away if your cards are lost or stolen

If your cards are lost or stolen while you’re away, you should tell your bank as soon as you realise so they can cancel them.

If you need emergency money while outside the UK, some banks will arrange for cash to reach you to keep you going until you get home.

If you’re with HSBC, you can  temporarily freeze your card  while outside the UK.

If your card is lost or stolen, call us on +44 1442 422929, or use our mobile banking app to temporarily freeze your card.

After you get home

Almsot a fifth of UK holidaymakers (18%) admit they’ve got more than £100 worth of foreign cash at home after taking it back with them at the end of their holiday.

If you have any cash left over, you have a couple of options when you return home.

If you plan to travel again soon to a country or region where that currency is used, you can choose to hold on to the money until then.

If another trip isn’t on the cards, you can exchange your foreign currency back into pounds. These transactions are often referred to as ‘buy backs’.

Explore more

Make sure you and your money are holiday-ready  

Using your card outside the UK  

6 tips for using your credit card overseas  

About the survey.

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• M&S Travel Money

Buy Travel Money

Currency calculator.

Our currency calculator is a quick and easy way to check our latest foreign currency exchange rates.

What do I need to bring to collect my foreign currency?

The benefits of exchanging your holiday money with M&S Bank

Wide range of foreign currencies.

We offer a wide range of foreign currencies in our Bureaux, with more available to order online. It is easy to compare travel money with M&S Bank. See footnote * *

As well as the euro and US dollar , our range includes currencies such as the UAE dirham, Bulgarian lev , Turkish lira , Thai baht and Mexican peso .

Travel money sale now on!

Click & Collect sale on euro and US dollar available until 11 April 2023.

£150 minimum order. Exchange rates will still fluctuate daily during the sale period, but you’ll receive the best rate applicable on the date your order is placed. Rates shown when placing your order are sale rates. Offer subject to availability, buy back not included. Cancellation fee and full T&Cs apply.

SameDay Click & Collect

• Order between £150 and £2,500
• Euro and US dollars available to order and collect in over 450 stores *
• Order and collect euro , US dollars , Turkish lira , New Zealand dollar , Australian dollar , Thai baht , Canadian dollar , South African rand and UAE dirham, from our Bureau the same day

Find my nearest Click and Collect store

Click & Collect † See footnote †

• A wide range of currencies available to collect from our in store Bureaux See footnote * *
• Order and collect from the next day

Our best rates on euro and US dollar when you Click & Collect

To get an even better exchange rate on euro and US dollar , use our Click & Collect service. Pay now and lock in today's rate, then collect from a store at a time convenient for you.

CHANGE4CHANGE

If you would like to donate your unused foreign currency to charity we have Change4Change collection boxes in our Bureaux, with all the money we collect going to Breast Cancer Now. Since 2007, we have raised over £630,000 for the charity via your Change4Change donations.

Find a Bureau

Travel money buy-back service

When your holiday is over, we'll buy back your leftover holiday money at the buy-back rate on the day you return it to the Bureau de Change. That's all unused notes in any denomination we sell.

Find out more about M&S Travel Money Buy Back service

If you would like to donate your unused foreign currency to charity we have Change4Change collection boxes in our Bureau stores, with all the money we collect going to Breast Cancer Now. Since 2007, we have raised over £630,000 for the charity via your Change4Change donations.

Find a bureau

When your holiday is over, we'll buy back your leftover holiday money at the buy-back rate on the day you return it to the bureau de change. That's all unused notes in any denomination we sell. Proof of purchase may be required so please retain your receipt, just in case.

Up to 55 days' interest-free credit when purchasing with an M&S Credit Card See footnote ** **

Representative example: based on an assumed credit limit of £1,200, our 24.9% rate per annum (variable) for purchases gives a representative rate of 24.9% APR (variable). Credit is subject to status.

No cash advance fee when M&S Travel Money is purchased using an M&S Credit Card.

What you'll need to bring

To collect foreign currency you've purchased online, you will need:

• A valid UK photographic driving licence, passport or EU national identity card (Romanian & Greek National ID Cards are not accepted)
• Your card you used to place your order - both ID and payment card must have the same name
• Your order number (this can be found on your confirmation email)

To purchase foreign currency in one of our Bureaux, you will need:

• A valid UK photographic driving licence, passport or EU national identity card - both ID and payment card must have the same name

Find my nearest M&S Bureau de Change

Use the M&S Bank Bureau Finder to find your nearest M&S Bureau de Change and opening hours.

Find a Bureau de Change

Manage your existing travel insurance policy

Want to renew, change or cancel your policy or need to make a claim?

Find out more - about managing your travel insurance policy

Need some winter sun?

Planning a winter sunshine break? Use our handy guide to help with your planning.

Ready to hit the slopes?

Thinking about a skiing holiday in Europe, North America or Asia? Use our guide to help you with your trip.

Planning to travel with cash?

Our guide explains how much money you can take abroad.

Learn more about the euro

How many countries use the euro? When was the euro first introduced? Find out more.

Using your credit card abroad

Going on holiday? Get to grips with how you can use a credit card outside of the UK.

What is RFID blocking technology?

If you are concerned about having your passport or credit card skimmed whilst abroad learn more about RFID technology.

What influences exchange rates?

Discover what factors contribute to the exchange rates that you see today.

How to budget for long term travel

Going on a long-term trip? Read our guide on how to budget successfully to ensure you have the most memorable time possible.

Visiting a Christmas market?

Learn more about the many Christmas markets across Europe.

Frequently asked questions

Can i use a credit card to purchase travel money.

Yes, you can use a credit card to purchase travel money. However, please check with your card provider as they may apply fees or charges e.g. cash advance fees or other fees.

Our Bureaux accept the majority of UK issued major credit cards.

How much cash can I travel with?

You can learn more about taking cash in and out of Great Britain and declaring cash by visiting gov.uk .

Should I get foreign currency before I travel?

Buying your travel money before you travel can be an important part of pre-holiday preparation. You can use our Currency Converter to get the latest exchange rates across worldwide holiday destinations.

Where can I collect M&S Travel Money from?

You can collect M&S Travel Money from over 100 bureaux de change or from over 350 stores nationwide. You can find your nearest M&S Bureau de Change using our Bureau Finder .

Where can I get the best exchange rate?

Exchange rates change on a regular basis and vary depending on the currency you order. At M&S Bank, we offer our best rates for euro and US dollar via the Click & Collect service, where you can order your currency and collect from the next day in an M&S location local to you. If you order online before 4pm, you can collect the same day. For all other currencies, check our website for more information.

How much travel money can I order?

For orders placed via Click & Collect, there is a minimum £150 order and maximum of £2,500. For Bureau de Change walk-ups, there is no minimum order.

How do I confirm my Travel Money purchase using my M&S Credit Card?

There are three ways to verify your payments - you can use our M&S Banking App, a one-time passcode via text message or by using a card reader to verify your payment. Use our how-to videos or step-by-step guides to find out more.

Have a question about travel money or other travel products?

Ask our Virtual Assistant

Useful information

View exchange rates

Find out more about euro rates

Find out more about US dollar rates

Find out more about Australian dollar rates

Find out more about Canadian dollar rates

Find out more about New Zealand dollar rates

Find out about M&S Travel Insurance

Important documents

M&S Travel Money Terms and Conditions

You may require Adobe PDF reader to view these documents. Download Adobe Reader

* Subject to availability

** With the M&S Credit Card, you'll receive up to 55 days' interest-free credit when you pay your balance in full and on time each month.

† Next Day collection is subject to availability. Please confirm your collection date and location at the checkout.

What Is Currency Buy Back & How to Get the Best Rates

Learn what to do with your leftover currency and how selling travel money online or at a currency service works.

Matt Crabtree

Generally speaking, it's never exactly common to use every last penny of your foreign currency when you've been out of the country on a trip abroad — whether it's for a holiday or a short business trip — and as soon as you get back home, most foreign currency notes will just get dumped in a drawer or maybe even tucked away and forgotten about in a travel wallet rather than being in your bank account .

In reality, though, this is obviously not the most efficient way to handle the situation, so a far more valuable option worth exploring is currency buy back.

So, throughout this article, we'll be taking a closer look at what exactly currency buy back is — covering things like how it works and finishing off with a few tips on how you can search for the best rates in the UK.

Understanding Currency Buy Back

Let's kick things off by providing a bit of background information into what currency buy back actually is.

What Is Currency Buy Back?

Put simply, currency buy back is basically when you sell any of your unused foreign currency from a holiday back to a provider — usually somewhere like a travel money bureau or even an online platform that specialises in travel money services.

Naturally, this service can be particularly useful for anyone who needs to convert their leftover holiday money back into their home currency so it's not being wasted.

The Problem of Leftover Currency

As mentioned, it's not uncommon to return home with spare cash in the form of foreign currency banknotes — usually in denominations like euros, US dollars , or Australian dollars .

It might seem pretty insignificant, but they can add up to a considerable amount over time, so currency buy back services essentially try to solve the problem and help you liquidate these unused funds.

How Does Currency Buy Back Work?

Moving forward, here's the fairly streamlined process for how you can sell currency that you've got left over.

Choosing a Currency Buyback Provider

There are actually a few different options when it comes to currency buy back, but in general, most travellers opt for a specialised travel money bureaux.

Still, some banks or online travel money providers will also allow currency banks, so you've got a choice here. Each of the choices comes with its own set of advantages and considerations, though, so it's worth looking into if you're on a budget.

Tips for Getting the Best Rates

To round the article off, let's explore some of the best ways to get the most out of your leftover travel money.

Monitor the Exchange Rate

Naturally, exchange rates tend to fluctuate pretty frequently, so you'll definitely want to keep an eye on them if you're planning on selling any currency in the near future.

Fortunately, though, some online travel money providers might offer alerts for specific rates, so if you've got a certain level in mind where you'd be comfortable exchanging the money, you can receive a notification telling you that the price has been reached.

Check for Additional Fees

Before you finalise any kind of currency buyback transaction — whether it's from a bank or travel bureau — you definitely need to check if there are any additional fees or commissions that the provider may sneakily charge.

Some providers you go to will offer fee-free services, but a lot of them have hidden costs that can have a pretty big impact on the overall value of your transaction.

Research Multiple Providers

Don't settle for the first currency buyback provider you come across. Take the time to research and compare rates from different sources. Online travel money platforms often provide a transparent overview of their rates, making it easier for you to make an informed decision.

Related Guides:

• How to Transfer Money from India to UK
• Best Bank Accounts for Travelling
• Best Multi-Currency Business Accounts

Is It Possible to Negotiate Exchange Rates With Currency Buyback Providers?

In general, you’ll find that most exchange rates, wherever you go, are set by the provider, so they’re probably not negotiable. Having said that, it’s definitely still worth asking if they have any kind of special promotions that are active, as well as things like loyalty programs or any bulk transaction discounts that might give you better value for money.

What Should I Do If I Have a Mix of Different Foreign Currencies to Sell?

Fortunately, the vast majority of providers will accept a mix of foreign currencies for buyback — you don’t have to convert them one at a time. Just make sure that you’ve organised them all beforehand and that you present all the various banknotes clearly, so there’s no kind of confusion during the transaction.

Are There Any Tax Implications or Reporting Requirements for Currency Buy Back?

In the UK, any currency buyback transactions that you make are generally considered to be personal transactions, meaning there aren’t actually any tax implications. Having said this, it’s always worth keeping in the loop about any specific changes in tax regulations, and you can do this by consulting with a financial professional if you have a particular concern.

Can I Use Currency Buy Back Services for Business-Related Foreign Currency?

Unfortunately, the majority of currency buyback services out there are usually designed with personal use in mind and might not cater to the large sums of money businesses might need to deal with. So, if you have any business-related foreign currency you need converting, you’re better off exploring a financial service tailored towards business solutions.

What Happens If I Change My Mind After Initiating a Currency Buy Back Transaction?

Generally speaking, any currency buyback transaction that’s already been initiated stands a pretty slim chance of being reversed, so you obviously need to be pretty confident about the sale before you finalise the transaction . Aside from this, a lot of providers don’t tend to offer refunds or cancellations, so you might be out of pocket if you have a change of heart at the last minute.

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Foreign Exchange - Travel Money

• How to order
• Travel checklist

At HSBC we've made ordering your Travel Money quick, easy and convenient.

Key Benefits

• Competitive Rates You'll find it simple to check our rates by phone or in branch services.
• Quick & easy to order Just phone or visit our branch to easily order your Travel Money.
• All major currencies available We offer a wide range of foreign currencies for your Travel Money needs.

Using your HSBC Debit and Credit Card Abroad

As well as your Travel Money, you can also use your HSBC Debit and Credit Cards when you're overseas. Find out more

Our larger branches have packs of euros and US dollars (subject to stock levels).

HSBC Premier Customer

Call us on: 03456 00 61 61

If you are outside the UK, Channel Islands & Isle of Man please call: +44 1470 697 139

Lines are open 7am to 9pm every day.

Travel Checklist

• We automatically monitor accounts for unusual foreign transactions. You can let us know it's you using your card by making a CHIP & PIN transaction while abroad. This helps us protect you from possible fraud or declined transactions more effectively while you're on holiday
• Ensure to order your Travel Money by phone or in branch services
• Some of our HSBC Current Accounts have Travel Insurance, be sure to check before you book any Travel Insurance and pack the policy details to take along with you
• Pack your HSBC debit and credit card along with the lost / stolen cards emergency number too, just in case if you need it

Overview 

How to order , travel checklist , customer support.

HSBC Expat spoofing scam - please stay alert

Some HSBC Expat customers are being targeted in a phone scam where they're asked to read out a one-time passcode to remove their mobile banking app. It may look like HSBC calling, but it's not us, so please hang up immediately. We will never ask you to share any passcodes or security token codes, only fraudsters will do this.

You can read more about common scams and how to stay safe on our fraud guide .

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Using your card abroad

Access your money worldwide, including local currency withdrawals and payments

Discover easier worldwide spending and payments when you open an Expat Bank Account.

Use your card worldwide

Enjoy the convenience of using your card wherever you see your card's logo. Fees apply.

• Use in any outlet that displays the Visa or Mastercard logo on your card
• ATM locator to help you find where you're able to use your visa debit or credit card abroad
• Fees apply and non-HSBC cash machines may also charge a fee[@cashwithdrawals]

Security while travelling

If you let us know you're away, we can manage your transactions more effectively while you're on holiday. 

• We automatically monitor accounts for unusual foreign transactions
• We look out for possible fraud and declined transactions
• If you have a joint account you both need to notify us. For credit cards, only the primary cardholders needs to give us travel notifications

How to use your card abroad

Overseas usage fees .

Any non sterling transactions (including cash withdrawals) are converted to sterling by using the relevant payment scheme exchange rate applying on the day the conversion is made. We will deduct the payment and related transaction fees from your account once we receive details of the payment from the card scheme, at the latest the next working day.

Cost illustration (Visa) 

Cost illustration of making a transaction abroad of EUR 100.00 using the Visa exchange rate on 6 June 2017 of 0.876855 = GBP 87.69 to which will be added the fees appropriate to your card and transaction.

See more information on the  rate of exchange Visa  used when converting your transaction.

Cost illustration (Mastercard) 

Cost illustration of making a non-sterling transaction of EUR 100.00 using the Mastercard exchange rate on 5 June 2017 of 0.875944 = GBP 87.59 to which will be added the fees appropriate to your card and transaction.

See more information on the  rate of exchange Mastercard  used when converting your transaction.

You receive up to 56 days interest-free credit on credit card purchases if you pay your whole balance in full and on time. Please be aware that interest is charged from the date transactions are applied to your account until payment is received. There is no interest-free period on cash advances. Some cash machine operators may apply a direct charge for withdrawals from their cash machines and this will be advised on-screen at the time of withdrawal. ATM withdrawal limits are applicable.

You can use your card to make non-sterling cash withdrawals from self service machines operated by a third party and agree that the third party will perform the currency conversion for you. The applicable exchange rate, the amount of cash you will receive and the amount in sterling will be shown on the screen. The amount in sterling will be deducted from your account balance when we receive details of the payment from the self service machine operator, at the latest the next working day.

Travelling in the EEA 

If you're travelling in the EEA[@eea], see how paying in local currency on your HSBC credit or debit card compares to the European Central Bank (ECB)'s latest foreign exchange rates .

Let us know when you're travelling 

Tell us when you're away so we can manage your transactions more effectively.

• Tell us online using our online Live Chat service
• HSBC Premier customers call: +44 1534 616 313
• HSBC Advance customers call: +44 1534 616 212

Just so you know, we may monitor and record your communications with us. This is in the interest of security and to help us continually improve our service.

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Visa Debit Card

The card that does more than just travel

The HSBC Visa Debit Card covers the basics and beyond. Link up your card to your other accounts and make cash withdrawals without the fees. Plus, get exclusive offers at thousands of outlets in Australia and overseas with rewards from Visa and HSBC. 

What you'll get with an HSBC Visa Debit Card

No ATM fees

Contactless payments

Fast and secure spending

Exclusive offers and rewards

Get even more from visa offers + perks.

With  Visa Offers + Perks , there’s a reward for everyone. From hotels to healthcare, get money off your next adventure and level up your lifestyle – all from one debit card.

What you need to know

Are you eligible.

To apply for an HSBC Visa Debit Card, you'll need to:

• Be at least 16 years old
• Have an existing HSBC transaction account, Home Smart Account, Home Equity Account, or Offset Account
• Have a valid passport or Australian driver's licence
• Have an Australian residential address

Good to know 

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The fees and charges that you need to pay will depend on the type of account that's linked to your Visa Debit Card. 

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Travel money

Look no further than your own bank for your Travel Money with fee free deliveries straight to your door.

• At a glance

Start your holiday before you go. We'll deliver your holiday money to your door so you can focus on the important stuff (finding your sunglasses, planning what you want to buy in duty free...).

• quick and easy to order
• all major currencies available
• travel money delivered direct to your door for no fee.

Travel Money is provided in association with Travelex Currency Services Limited.

To order Travel Money you need to be 18+ and live in the UK.

How much will I be charged to buy travel money through first direct's service?

Order Requirements

• online orders must be paid for using your first direct ,  HSBC debit or credit card or Marks and Spencer credit card
• you will be advised of any charges payable before you confirm your order. Where applicable, these will also be shown on your order confirmation
• the service is free unless you use a credit card. If you use a credit card, you’ll usually pay a fee, which you can check with your provider before placing your order

When will you get your travel money?

• for orders confirmed before 2pm, Monday to Friday, we will aim to deliver your Travel Money by the next working day
• for any orders confirmed after 2pm, Monday to Friday, on a Saturday or Sunday, or on a Bank/Public Holiday, we will aim to deliver your Travel Money within 2-3 working days
• these delivery times are not guaranteed and deliveries to remote parts of the UK may take longer
• if we accept your order, we'll deliver your Travel Money to you at the address we hold for you. Your order needs to be signed for, so if you are not at home when your order is delivered, Royal Mail should leave a card giving details of where the order can be collected

Working day means Monday to Friday excluding UK Bank or Public Holidays.

Frequently asked questions

Can i order more than one currency at the same time.

Yes, you can add more than one currency to the same order.

How much can I order online from first direct?

You can buy travel money, only for you, worth between £100 - £2,500, by ordering it online at our website.

Can my order be cancelled?

You can’t cancel an order once you’ve placed it.  You can refuse to accept delivery.  If you do so, we’ll provide a refund using our buy-back rate. This is not the same rate as the purchase rate, so you may lose money on the transaction.  Also, if you paid by credit card, the credit card fee will not be refunded.

We can cancel or refuse your order if we believe it isn’t for personal use or think that the order may cause us issues with any laws or regulations.

What exchange rate will I get?

Your rate will be shown on the ordering screen at the time you place your order.

What else do I need to know?

Any complaint can be made to 03 450 511 378 or by secured message in our App and online banking or by writing to us at first direct, 40 Wakefield Road, Leeds, LS98 1FD. If we are unable to resolve it, you can go to the Financial Ombudsman Service at Financial Ombudsman Service, Exchange Tower, London E14 9SR or  [email protected] Opens an overlay [Will show a security message first]  or by calling 0800 0 234 567. 

The laws of England and Wales apply to these terms. We may need you to give us information and documentation relating to your tax liability (both within the UK and overseas, where appropriate). We may share this with tax authorities to establish your tax liability in other countries. 

Order your Travel Money Using your first direct debit card

Order online now.

For details on how we will use your personal information, please see our  Privacy Notice .  first direct   Travel money is provided by Travelex Currency Services Limited. Please read their Privacy Notice shown within the order form.

Currency Buy Back

Exchange foreign currency for Pounds at your nearest Tesco Travel Money Bureau

Ever get to the end of a holiday with Euros or Dollars burning a hole in your pocket? Our in-store currency buy back means there’s no need to splash your leftover cash at the airport before you fly home.

Simply visit one of our Travel Money Bureaux today and we'll buy back your leftover currency, even if you didn't buy it from us.

How do I use the travel money buy back service?

It’s simple – find your nearest in-store Travel Money Bureau and bring us your foreign currency. As long as it’s currency we sell, we’ll be able to switch it out for UK Pounds right then and there.

What currencies does Tesco Bank buy back?

At Tesco Bank we buy back Euros, US Dollars, Australian Dollars, and all other currencies that we sell, in most banknote values.

You can bring your unused currency to any Tesco Travel Money Bureau, no matter where you bought it in the first place.

We also buy back currency on Multi-currency Cash Passports™, which means you never need to worry about overspending.

Find your nearest Travel Money store

With Click & Collect you can order your travel money online and pick it up from selected Tesco stores or you can buy instantly from an in-store travel money bureau.

Enter a postcode or location

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Best Travel Money Provider 2023/24

Now in it’s 26th year and voted for by the public, the Personal Finance Awards celebrate the best business and products in the UK personal finance market. We’re delighted that you voted us as Best Travel Money Provider 2023/24.

Buy foreign currency online

Order online and you can collect your travel money from one of our in-store bureaux or selected customer service desks. Or we can deliver it direct to your door. Delivery charges may apply.

Important information

Tesco travel money is provided by travelex.

Tesco Travel Money ordered in store is provided by Travelex Agency Services Limited. Registered No. 04621879. Tesco Travel Money ordered online or by telephone is provided by Travelex Currency Services Limited. Registered No. 03797356. Registered Office for both companies: Worldwide House, Thorpewood, Peterborough, PE3 6SB.

Multi-currency Cash Passport is issued by PrePay Technologies Limited pursuant to license by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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Three reasons why HSBC’s share price still looks a huge bargain to me

HSBC ’s (LSE: HSBA) share price is still close to its 8 May one-year traded high of £7.24. At such an elevated price, some investors may buy for fear of losing out. Others may avoid the shares for fear that they are already more expensive than they were.

As a former investment bank trader, I know that investment decisions should not be based on either fear or greed.

The only question I ask when a stock is trading high is whether there is any value left in it? In HSBC’s case, I think the answer is ‘yes’ for three key reasons.

Still undervalued

The first reason is that despite the price rise, the shares are still technically undervalued against their peers.

On the key price-to-earnings (P/E) stock valuation measurement, HSBC currently trades at 7.3. This is cheap compared to the 7.7 average of its UK peer group.

It is even cheaper compared to its European peer group average of 7.8.

So, how much of a bargain is it? To ascertain this, I ran a comprehensive discounted cash flow analysis using other analysts’ figures and my own.

This shows HSBC shares to be 52% undervalued right now, even after the recent price rise. Therefore, a fair value would be around £14.35, compared to the current £6.89.

This does not necessarily mean they will reach that price, of course. But it underlines to me what a huge bargain they look.

Still a growing business

Rising earnings and profits drive a company’s share price and rewards to shareholders over time.

The primary risk for HSBC is declining net interest margin (NIM), as interest rates prepare to fall in the UK. The NIM is the difference between the interest a bank receives on loans and the rate it pays for deposits.

However, in its Q1 2024 results released on 30 April, HSBC’s NIM was actually up 0.11% compared to Q4 2023. This was due to continued strong NIMs in its other international banking operations.

Revenue was also up 24% year on year (to $20.8bn), while net income rose 2.5% over the same period (to $10.6bn).

Right now, consensus analysts’ estimates are that revenue will grow at 3.4% a year to end-2026. Return on equity is forecast to be 12.2% by that time.

Therefore, ongoing earnings growth should power its share price and shareholder rewards higher. This is the second reason why I think there is a lot of value left in the shares.

Passive income potential

The third reason is that HSBC has become a big generator of passive income. This is money earned by investors for doing very little work daily, such as dividends.

In 2023, the bank paid 61 cents (48p) a share in total dividends. On the current share price of £6.89, this gives a yield of 7%.

£11,000 — the average savings amount in the UK — invested at 7% would make £770 in annual dividend payouts. If the yield averaged the same over 10 years, the additional return would be £7,700 on top of the £11,000.

However, if these dividends were reinvested back in the stock, the additional return after 10 years would be £11,106 instead of £7,700.

Given these three reasons, I will be adding to my holding in HSBC very shortly.

The post Three reasons why HSBC’s share price still looks a huge bargain to me appeared first on The Motley Fool UK .

More reading

5 Stocks For Trying To Build Wealth After 50

One Top Growth Stock from the Motley Fool

HSBC Holdings is an advertising partner of The Ascent, a Motley Fool company. Simon Watkins has positions in HSBC Holdings. The Motley Fool UK has recommended HSBC Holdings. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Motley Fool UK 2024

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Novo Nordisk Braces for Generic Challenge to Ozempic, Wegovy in China

FILE PHOTO: Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. REUTERS/Hollie Adams/File Photo

By Andrew Silver

SHANGHAI (Reuters) - Novo Nordisk is facing the prospect of intensifying competition in the promising Chinese market where drugmakers are developing at least 15 generic versions of its diabetes drug Ozempic and weight loss treatment Wegovy, clinical trial records showed.

The Danish drugmaker has high hopes that demand for its blockbuster drugs will surge in China, which is estimated to have the world's highest number of people who are overweight or obese.

Ozempic won approval from China in 2021 and Novo Nordisk saw sales of the drug in the greater China region double to 4.8 billion Danish Krone ($698 million) last year. It is expecting Wegovy to be approved this year.

But the patent on semaglutide, the active ingredient in both Wegovy and Ozempic, expires in China in 2026. Novo is also in the midst of a legal fight in the country over the patent.

An adverse court ruling could make it lose its semaglutide exclusivity even sooner and turn China into the first major market where it is stripped of patent protection for the drugs.

Those circumstances have drawn several Chinese drugmakers to the fray. At least 11 semaglutide drug candidates from Chinese firms are in the final stages of clinical trials, according to records in a clinical trial database reviewed by Reuters.

"Ozempic has witnessed unprecedented success in mainland China … and with patent expiry so close, Chinese drugmakers are looking to capitalise (on) this segment as soon as possible," said Karan Verma, a healthcare research and data analyst at information services provider Clarivate.

Front-runner Hangzhou Jiuyuan Gene Engineering has already developed one treatment that it says has "similar clinical efficacy and safety" as Ozempic and applied for approval for sale in April. The company has not published efficacy data and did not respond to a request for the information.

The company said in January that it expected approval in the second half of 2025, but cautioned that it will not be able to commercialise the drug before Novo's patent expires in 2026, unless a Chinese court makes a final ruling that the patent is invalid.

The Danish company's semaglutide patent is expiring in China far ahead of its expiry in other key markets such as Japan, Europe and the U.S. Analysts attribute variations in patent expiry timelines to term extensions Novo has won in specific regions.

Even more pressing for Novo is a 2022 ruling by China's patent office that the patent is invalid for reasons related to experimental data availability, which the company has challenged.

China's top court said it was not able to say when verdicts are likely ready.

A Novo spokesperson said it "welcomes healthy competition" and was awaiting a court decision on its patent case. The spokesperson did not answer follow-up queries on the matter.

Other Chinese drugmakers who are running the final stages of clinical trials for Ozempic generics include United Laboratories, CSPC Pharmaceutical Group, Huadong Medicine and a subsidiary of Sihuan Pharmaceutical Holdings Group.

CSPC said in May it expected approval for its semaglutide diabetes drug in 2026.

Brokerage Jefferies estimated in an October report that semaglutide drugs from United Laboratories will be launched for diabetes in 2025 and obesity in 2027. United Laboratories did not respond to a request for comment.

IMPACT ON PRICES

The number of adults who are overweight or obese in China is projected to reach 540 million and 150 million, respectively, in 2030, up 2.8 and 7.5 times from 2000 levels, according to a 2020 study by Chinese public health researchers.

If shown to be as safe and effective as Novo's, Chinese drugmakers’ products will increase competition and bring down prices, analysts say.

Goldman Sachs analysts estimated in an August report that generics could lead to a price reduction of around 25% for semaglutide in China. The weekly Ozempic injection costs around $100 for each 3mL dose through China's public hospital network, Clarivate's Verma said.

Novo acknowledges the intensifying competition.

"In 2026 and 2027 we might see a few more players showing up due to the clinical trials" in progress, Maziar Mike Doustdar, a Novo executive vice president, told investors in March, referring to the China market.

But he also questioned the capability of some of the players to provide meaningful volumes, adding "we will watch it as we get closer".

Novo also faces competition from internationally well known firms including Eli Lilly whose diabetes drug Mounjaro received approval from China in May. HSBC analysts expect China's approval this year or in the first half of 2025 for Lilly's weight loss drug with the same active ingredient.

Eli Lilly did not reply to a request for a comment on Chinese approval of the drug, which in the U.S. is called Zepbound.

Supplies of both Wegovy and Zepbound remain constrained but the companies have been increasing production.

Zuo Ya-Jun, general manager of weight loss drugmaker Shanghai Benemae Pharmaceutical, said a product being competitive would depend on distinguishing features such as efficacy, durability of the treatment and a company’s sales abilities.

"It will be a market with fierce competition, but who will be (the leader) is hard to say," she said.

(Reporting by Andrew Silver; Additional reporting by Jacob Gronholt-Pedersen and Maggie Fick in Copenhagen; Editing by Miyoung Kim and Muralikumar Anantharaman)

Copyright 2024 Thomson Reuters .

Tags: United States , Hong Kong , Denmark , Europe

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Thomson Reuters

Davide Barbuscia covers macro investment and trading out of New York, with a focus on fixed income markets. Previously based in Dubai, where he was Reuters Chief Economics Correspondent for the Gulf region, he has written on a broad range of topics including Saudi Arabia’s efforts to diversify away from oil, Lebanon’s financial crisis, as well as scoops on corporate and sovereign debt deals and restructuring situations. Before joining Reuters in 2016 he worked as a journalist at Debtwire in London and had a stint in Johannesburg.

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Money blog: Subway drastically changing how you order

Subway is following in the steps of some of its fast-food rivals with the introduction of self-service kiosks and its own dedicated app. Read this and the rest of today's consumer and personal finance news below - and leave your thoughts in the comments box.

Wednesday 5 June 2024 20:43, UK

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Ask a question or make a comment

Subway is following in the steps of some of its fast-food rivals with the introduction of self-service kiosks and its own dedicated app.

Customers will be able to place orders via digital screens sent to the kitchen instead of making their way along the chain of ingredients.

The self-service kiosks will be in all UK stores before the end of the year,  The Grocer  reports.

The sandwich shop chain is also launching a new app which will enable online orders - and offer customers points towards its "Subway Rewards" loyalty scheme, it said.

The points can eventually be converted into "Subway Cash" to spend on menu items.

Dan Holm, digital leader at Subway, said: "As we think about Subway's future, we're doubling down on our global digital commitment to streamline and simplify the guest experience from start to finish."

P Diddy has sold off his stake in the media company he founded more than a decade ago. 

The rapper, whose real name is Sean Combs, released his shares of Revolt with the company saying the have been fully redeemed and retired. 

Revolt has not disclosed how much Combs was paid for his stake in the hip-hop news and entertainment company, which he founded in 2013.

It also announced a new ownership structure that will give its employees an equity stake in the company. 

The move comes after several lawsuits were filed against Combs , accusing him of sexual assault and rape. 

In November, he was sued by R&B singer Cassie, who said he subjected her to a years-long abusive relationship that included beatings and rape.

Combs settled the lawsuit with Cassie, whose full name is Casandra Ventura, a few days after it was filed.

Three in five secondary school teachers and nearly 80% of primary school teachers are spending their own money on supporting students, according to new research.

A report by the National Foundation for Educational Research, based on a survey of 1,282 teachers and senior leaders, found a quarter of teachers had already spent £100 of their own cash on their pupils or school this academic year.

Some 79% of primary school teachers and 62% of secondary school educators reported spending their own money at some point.

And nearly one in five primary and 17% of secondary teachers said they were spending money on meeting pastoral needs such as providing food or clothes.

Jude Hillary, the NFER's co-head of UK policy and practice, said the report "clearly highlights the high level of need among young people".

She said teachers were "going above and beyond to meet pupils' pastoral needs using their personal funds" and the "unrecognised" support was coming at a time when staff themselves are facing their own cost pressures.

Tesco has started re-stocking its packs of a dozen eggs online, after lengthy supply issues forced them to stop selling them.

The supermarket had already re-started selling them in stores, but online shoppers had to buy two packs of six eggs if they wanted 12, costing them very slightly more.

The shortages began in the autumn of 2022 as farmers left the industry or pulled back on production due to rising costs.

An outbreak of bird flu last year also impacted the sector.

Customers of Loveholidays have had their travel plans thrown into chaos after the parent company of two of its partners unexpectedly went bust. 

In a post on Facebook, the holiday firm said FTI Group, which owns YouTravel and Meeting Point, had filed for insolvency. 

As a result, the accommodation and transfer arrangements of some travellers have been affected. 

A "small number" of hotels have already started contacting Loveholiday travellers, asking them to pay for their rooms again.

In the comments of the post, one person said they had been "threatened to be removed by police" for refusing to pay again. 

"We are supposed to go home Thursday evening and worried our transfers and flights might be affected because we are refusing to pay again," Scott Love wrote. 

"Shambles this and has ruined our holiday for me, my partner and three children." 

Several other people commented, asking the provider to tell them if their trip had been impacted. 

Loveholidays said it was "working hard" to honour its customers bookings and "minimise disruption" to any holiday. 

It also said it was "absolutely committed" to covering costs and was working with affected customers, and the hotels involved, to make sure that happens.

Those who are on holiday and need support have been advised to contact the holiday support team by calling the number on their booking documents. 

"If you're travelling with us soon and are wondering if your holiday is affected: Please don't worry. There is nothing you need to do - our team is working hard to honour any impacted bookings with another partner," Loveholidays added. 

Sky News has contacted the company for comment. 

Chef Tom Brown has announced he is closing his high-end Hackney restaurant Cornerstone due to high costs of the tasting menu format and changing diner preferences.

The seafood-focused restaurant first opened in 2018 and earned a Michelin star in 2021.

In a statement, Brown said Cornerstone had been his "proudest moment" and his "home for the last six years", and added that his focus would now be on his nearby Pearly Queen site.

First Direct is ending its text message banking service after 25 years, according to a report.

An email seen by This Is Money said the service - which texts customers mini bank statements and alerts them to their balance dropping below a certain amount - will be stopped on 10 August.

First Direct told the outlet that customers could get "more detailed and up-to-date information" by logging onto its app or online banking.

Tesco has partnered with Virgin Red to offer Clubcard holders the chance to turn points into experiences.

Those signed up to the supermarket's loyalty scheme will get twice the points value when they turn points earned on their shopping into Virgin Points.

A bonus 5,000 points is available for anyone who signs up to auto-exchange all their Clubcard points to Virgin Points for the first time.

McDonald's has lost the EU trademark for "Big Mac" when it comes to chicken sandwiches after a long-running dispute with an Irish restaurant chain. 

The European Court of Justice upheld a complaint from Galway-based Supermac's against the US fast food giant. 

The trademark for the words "Big Mac" was initially registered with the EU International Property Office (EUIPO) in respect of meat, fish and chicken sandwiches as well as a range of restaurant services by McDonald's in 1996.

Generally, the rights of a holder to an EU trademark are revoked if it has not been put to genuine use within a continuous period of five years.

Supermac's argued McDonald's had insufficiently used the contested trademark in relation to "chicken sandwiches".

McDonald's and the EUIPO put forward examples of advertisements and display boards relating to "Grand Big Mac Chickens".

However, the court found the evidence was not sufficient to prove McDonald's had used the contested trademark enough in relation to poultry products.

Supermac's complaint was upheld and McDonald's protection of the phrase for such purposes was overturned. 

Rishi Sunak's claim in last night's debate that Labour will raise everyone's taxes by £2,000 comes from a "dossier" published by the Tories last month, which purported to calculate their tax and spending plans. 

The headline "finding" was that over the course of the next four years, Labour had roughly £59bn of spending plans but only £20bn of revenue-raising plans.

That leaves a £39bn hole. Divide that by the number of households in the country (18.4m) and you get a figure of just over £2,000.

Now, there are all sorts of objections to the way the Conservatives have carried out this exercise. 

For one thing, they deployed a weapon Labour don't have: because they're the party of government, they were able to ask Treasury civil servants to cost some Labour policies.

Today there has been a backlash - including from the Treasury's permanent secretary himself - about the way the Tories have portrayed these sums. 

The £2,000 figure isn't really a Treasury calculation or an "independent" one, as Mr Sunak called it last night. It's a Conservative figure - but it was put together in part with figures commissioned from civil servants. 

Labour also says many of the policies in that Tory dossier won't cost half as much as the Conservatives claim. 

Regardless, while £2,000 sounds like a big number, it's actually a cumulative total from four years. A far more representative figure to take from the dossier is £500 - the annual figure. 

And while that's not to be sniffed at (if you believe it - which you probably shouldn't) it's far, far smaller than the tax rises we've all experienced under this Conservative government since 2019.

They amount, all told, to an average of around £3,000 a year per household or, if we grit our teeth and tot it up as the Tories did in their dossier, over £13,000 over the course of the parliament. 

Which rather dwarfs that £2,000 figure.

Current account holders looking to make a quick bit of cash can benefit from a flurry of new switching incentives being offered by banks at the moment.

Several providers are fighting for new custom with offers ranging from £100 to £200 upfront plus other rewards.

Now is actually a good time if you're considering switching - as everything should be wrapped up in time for payday at the end of the month, when many people also have bills coming out of their account.

Anyone looking to make the move to a new provider and qualify for the switching offer will need to do so through the  Current Account Switch Service .

The latest data from CASS found Nationwide set a record for UK current account switches in the last three months of 2023.

Switchers can get £175 by opening up a Santander Edge current account. The incentive also offers 1% cashback on household bills paid by direct debit and 7% AER on a linked savings account.

To get the bonus, you'll have to complete the full switch, set up two active direct debits and pay in £1,500 within 60 days of telling Santander to switch your account.

The offer is only available to those who've never had a switching bonus from Santander.

Similarly to Santander, Lloyds is offering £175 for people who switch to its Club Lloyds, Club Silver or Club Platinum accounts.

Customers can also choose an extra reward of a year's Disney+ subscription, six cinema tickets, a Coffee Club and Gourmet Society membership or magazine subscription.

The switch has to include the transfer of at least three direct debits, and you won't be eligible if you've switched to Lloyds, Halifax or the Bank of Scotland since April 2020 or the switch occurs after 30 July.

Existing Nationwide current account holders can make £200 by switching a non-Nationwide current account with at least two direct debits to a new or existing FlexDirect account.

To be eligible, you'll need to have held an eligible Nationwide account on 31 March, and you can't have received a switching bonus from the building society since 18 August 2021.

Those who choose to switch to TSB will get a £100 bonus and up to £60 in cashback, plus a reward if they stay until January 2025.

To qualify for the £100, switchers will need to make a minimum of five debit card payments before 5 July. For up to £60 cashback, you'll need to make at least 20 debit card payments each calendar month. 

Eligible customers can also choose an extra reward in January, such as a night away, monthly cinema tickets or a NOW Entertainment membership.

Similarly to previous offers, you can't have benefited from a TSB switch bonus since 1 October 2022.

First Direct

Customers will get a £175 welcome bonus if they switch to a First Direct 1st Account, including access to a linked 7% AER regular saver account and a possible interest-free £250 overdraft.

You can't have had any account with the bank before or have opened a current account with its partner company HSBC since 1 January 2018. 

To get the bonus you'll have to pay in £1,000+ within 30 days of opening the account and use the debit card five times.

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International Edition

• Best overall
• Most affordable
• Best no medical exam
• Best for customer service
• Best for whole life conversions
• Best for seniors
• Best for foreign nationals
• Best for military personnel
• Best for low-income parents
• How we review term life insurance

Best Term Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

If you're looking for a starter life insurance policy, term life insurance may be your most affordable option. While term life insurance lacks the benefits of cash value insurance and whole life insurance , it's an affordable way to protect your family in the event of your untimely death in your prime earning years. 

Compare Term Life Insurance Policies

Because term life insurance is temporary, the standards by which a good term life insurance policy is measured is different than a whole life policy. While we look at eligibility requirements and premium rates, we also looked at policies on conversions as well as companies that cover spec ifc groups of people, such as military personnel and low-income parents.

Here are our picks for the best term life insurance policies in 2024.

Best overall: Banner

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable insurance rates for adults up to age 75, 85 for universal policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No maximum coverage on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High financial stability
• con icon Two crossed lines that form an 'X'. Low coverage amounts on universal policies
• con icon Two crossed lines that form an 'X'. Limited riders to customize coverage

Banner Life Insurance's OpTerm policy has affordable life insurance rates for all ages and approved health classifications. Unfortunately, shoppers with a history of severe health complications, including HIV, cancer, etc., do not qualify for Banner Life policies. Shoppers ages 20 to 75 years old may be eligible for coverage with no maximum and up to 40 years of coverage. You can also expect fast approval and may qualify for a medical exam waiver with the Banner Life OpTerm plan.

Read our Banner Life review here.

Most affordable: Protective

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Customizable term, whole, and universal life insurance plans
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Life insurance options for older adults
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High customer satisfaction according to JD Power
• con icon Two crossed lines that form an 'X'. Basic terms expire at 65, and Protective Life may not offer whole or universal policies for older adults
• con icon Two crossed lines that form an 'X'. Does not offer policies for special groups

Protective Life Insurance's Class Choice Term plan has some of the most affordable rates for the best value in the life insurance market. The average life insurance cost for 35-year-old males and females (with a standard 20-year term length and a life insurance benefit of $1,000,000) is about $52 and $43 monthly, respectively.

At Protective, the same life insurance policy for a male applicant would cost $46.63 monthly. A policy for a female applicant quotes at $38.44 monthly. Both of these rates are below the industry average. So while you can find cheaper, you get the most out of your buck with Protective.

Protective's Classic Choice Term is excellent for its customizability and range of options. This plan offers $100,000 to $50 million in coverage, some of the highest life insurance benefits in the market. Additionally, you have several term options ranging from 10 to 40 years.

You may fancy Protective's a la carte of riders, including its child and disability riders. Protective also offers an income provider option endorsement, which allows you to decide how to allocate your death benefit among your beneficiaries.

Read our Protective Life review here.

Best no medical exam: Brighthouse

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable rates with term and whole life options
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong company culture for knowledgeable and helpful insurance agents
• con icon Two crossed lines that form an 'X'. Limited plans that may not fit unique buyers' needs
• con icon Two crossed lines that form an 'X'. Does not offer unique plans for senior or other buyers

Brighthouse Financial's SimplySelect term offers best-in-class coverage even without undergoing a physical exam. The company also received an A rating from AM Best and a 739 rating with JD Power, according to its 2023 life insurance study.

This policy allows instant approval with some of the most affordable life insurance rates. You can get anywhere from $100,000 to $3 million in coverage with term lengths of 10, 20, or 30 years. However, higher policy limits may be subject to stricter underwriting. Also, its convertible and renewable rider options allow you to extend your coverage or convert your policy to a whole life insurance plan. See our guide to the best no medical exam insurance companies for more options to compare.

If your health isn't at its best, you might lean towards insurance requiring no medical exam , though your health status won't be ignored. No medical exam policies still ask health questions, and the company can look at past medical records. So these policies are more frequently issued with lower death benefits to young, healthy applicants. Of course, when you're working with a company like Brighthouse Financial, life insurance agents can run a preliminary application to see your chances of success. If you don't qualify for a no medical exam policy, Brighthouse Financial agents can quote other term or whole life options to fit your needs.

Best for customer service: State Farm

Bundling is standard, and agents often quote with multiple discounts.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
• con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
• con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
• con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

• Life insurance products include term and permanent life
• Ranks highly for customer satisfaction

Reliability and trustworthiness are imperative for a long-standing insurance company, and it doesn't get any better than State Farm. Included among our guides on the best life insurance and the best cheap life insurance , State Farm's life insurance earned an A++ for financial stability with AMs Best. It also received 843 out of 1,000 in 2023 for overall customer satisfaction with JD Power, landing it in the no. 1 spot for customer service among its industry competitors.

State Farm sells property and casualty products, including home, renters, and auto insurance. So, you can pair your life insurance with another insurance product to reduce your premium.

Read our State Farm Life Insurance review here.

Best for whole life conversions: Pacific Life

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers universal and term life insurance products
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy online calculators to estimate your life insurance needs
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all states except New York
• con icon Two crossed lines that form an 'X'. No whole life policies currently available meaning fewer guarantees on permanent policies
• con icon Two crossed lines that form an 'X'. Limited riders to address unique family situations, focused mostly on locking in benefits as you age

A conversion from term to whole life insurance  allows you to extend your coverage and take advantage of those coveted cash-value benefits. Pacific Elite Term offers some of the best options if you're planning on purchasing a whole, universal, or variable life insurance plan eventually. With this term life plan, you can convert after the first ten years of term coverage. This policy also adds cash credit to your permanent policy after conversion, which may reduce the overall cost of your premium.

Keep in mind a term to whole life conversion is not guaranteed. Your insurance agent can advise when to submit an application to convert. Once you do, underwriting will assess your health and risk at the time of application (not when you originally applied for your term policy). Insurance companies will also set rates based on your current application.

With competitive rates and availability in all 50 states, Pacific Life may be your pick of the litter for policy convertibility. Additionally, Pacific Life has outstanding customer satisfaction and financial strength scores, ranking sixth place with JD Power (above the the industry average) and A+ with AM Best. Pacific Life may also allow qualifying buyers to forgo a medical exam.

Read our Pacific Life Insurance review here.

Best for seniors: Prudential

Offers aggressive financial plans.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
• con icon Two crossed lines that form an 'X'. Financial returns are limited
• con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

For seniors, getting life insurance at an affordable rate can be challenging. However, Prudential's Term Essential is an excellent option for shoppers over 60 needing short-term coverage at a competitive price.

Prudential's Term Essential allows for higher age limits than many of its competitors. As a result, underwriters may overlook minor age-related conditions. Exclusions for terminal or costly illnesses like cancer, multiple sclerosis, and HIV may still apply. The plan provides coverage as little as $100,000 up to $1 million and term lengths of 10, 15, 20, or 30 years. Additionally, this policy offers a Living Needs Benefit rider, free of charge, with all of Prudential's term life policies. This rider gives you access to a portion of your death policy if you become terminally ill, a beneficial option for senior retirees.

Not all senior applicants will qualify for a life insurance policy with Prudential Term Essential. But options may be more flexible than it would be with competitors. See our guide to the best life insurance for seniors for more information.

Read our Prudential Life Insurance review .

Best for foreign nationals: Transamerica

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide range of life insurance products including term, universal, foreign nationals, and more
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Policies available for foreign nationals
• con icon Two crossed lines that form an 'X'. Can only be quoted and sold by licensed Transamerica life insurance agents
• con icon Two crossed lines that form an 'X'. Life insurance not available for certain high-risk clients

Life insurance can be an invaluable tool, but it may be hard to qualify for those who don't have U.S. citizenship. As one of the oldest and largest life insurance carriers, Transamerica accommodates foreign nationals within the U.S. to offer the best coverage options.

Transamerica Trendsetter Super is a term life policy providing some of the most competitive rates. If you're 18 to 80-years-old, you can get coverage of as little as $25,000 up to $2 million. Qualifying applicants may also waive the medical exam requirement. We recommend talking to a licensed insurance agent if you are still determining if you qualify.

Read our Transamerica Life Insurance review here.

Best for military personnel: USAA

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable pricing starting with $12/month on some policies
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. May offer coverage to military members other companies won't cover
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers term and permanent life insurance options
• con icon Two crossed lines that form an 'X'. 2 year waiting period for full benefits on some policies
• con icon Two crossed lines that form an 'X'. May focus on death benefits only more than other companies
• con icon Two crossed lines that form an 'X'. All permanent policies are underwritten and serviced by other companies, not by USAA
• USAA offers life insurance for the military, veterans, and the public.

USAA is one of the nation's leading insurance providers, created with active military members and veterans in mind. With USAA, military members and veterans may appreciate the unique benefits of purchasing its Level Term V policy. This plan doesn't require a medical exam, but you may have to answer a health questionnaire online.

USAA's equivalent of a guaranteed insurability rider is its Life Event Option rider. For qualifying life events (like getting married or having a child), you can get up to $100,000 of coverage. While many insurance companies offer this add-on at an additional cost, USAA's Life Event Option rider is built into the policy without the extra fee. Also, if you're injured in the line of duty, USAA helps pay for your medical bills and even replaces your health coverage if you retire or leave the military.

The critical thing separating USAA from other life insurance companies is its options for active duty military members outside of SGLI (a group life policy tied to your service in the military), i.e., you lose it once you separate from the military). As a result, its death benefits may be lower compared to some competitors. But active duty military members, particularly if deployed, will not qualify for coverage at all with other life insurance providers.

Read our USAA Life Insurance review here.

Best for low-income parents: MassMutual 

A++ (Superior)

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Wide array of term and permanent life coverage options 
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Established life insurance carrier with a strong reputation
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive insurance premiums for both permanent and term policies
• con icon Two crossed lines that form an 'X'. May not be available for seniors above age 65
• con icon Two crossed lines that form an 'X'. Policies must be purchased through an agent
• Life insurance provider offering term and permanent policies
• LifeBridge program for low-income parents and guardians
• High marks in customer satisfaction

For many families, getting life insurance isn't in the budget or may not be a financial priority. Fortunately, MassMutual created the LifeBridge program to assist low-income families with affordable coverage.

With MassMutual's LifeBridge program, qualifying parents and guardians get a free 10-year life insurance policy. In addition, this policy pays your designated beneficiary a $50,000 death benefit.

While MassMutual's term coverage through the LifeBridge program isn't as elaborate as some of the options on this list, this free plan will cover your dependent's educational expenses and sustain a good living if you pass away.

Read our MassMutual Life Insurance review here.

Why You Should Trust Us: How We Reviewed the Best Term Life Insurance

We choose our picks for the best term life products best on a company's customer satisfaction points, company offerings, financial stability ratings, and affordability.

• Customer satisfaction: We use JD Power's life insurance customer satisfaction survey to assess a company's customer service practices. Life insurance companies with ratings of more than 774 out of 1000 are considered above the industry standard.
• Company offerings: We compare each company's offerings. These include but are not limited to riders, policy flexibility, no medical exam options, and instant approvals.
• Financial stability ratings: We use AM Best, an industry-leading credit rating agency, to assess an insurance company's financial health. A company with an A++ to B+ is stable and likely to be around for years. On the other hand, anything lower than a B means a company is unstable or unable to meet its financial obligations.
• Affordability : According to our article on average life insurance rates , a reasonable monthly premium is on par with or below the average cost of life insurance, which is between $40 to $55 a month.

Check out the details of our insurance rating methodology to learn more.

What is Term Life Insurance?

Term life insurance offers temporary protection over a set amount of time, usually between 10-30 years, though you can find shorter and longer terms. Because a payout isn't guaranteed under these policies (in fact most term life insurance policies never pay out), premiums are cheaper than permanent life insurance policies. 

Term life insurance policies are great if you need coverage for a specific period in your life or you have a temporary financial obligation. For example, if you're paying off a mortgage or your child's college tuition, a term life policy will ease your loved ones financial burdens if you're no longer around to pay them off. 

Best Term Life Insurance FAQs

The best company for term life insurance will be the one that offers you the best coverage and claims experience at the best price. That said, we found that Banner Life Insurance's OpTerm policy had affordable yet comprehensive coverage for a wide range of age groups.

When selecting your death benefit amount, the rule of thumb is to select 10 times your annual income. But in general, you probably should get as much coverage as you can comfortably afford.

Yes, term life insurance will protect your family. In the unfortunate event you pass away during its active period, it will help your beneficiaries cover costs like funeral expenses and outstanding debts and can replace lost income. However, if you pass away after its expiration, your beneficiaries will not be paid.

Whole life insurance offers more comprehensive coverage and comes with cash-value benefits. By the time the policy is paid, permanent policies are frequently cheaper for the benefit you get. That said, affordable term life insurance is more immediately available.

If you outlive your term life insurance, your coverage will expire, and you or your beneficiaries won't receive a payout. The funds will simply go into the company's profits. However, if you purchased a return of premium rider, you may get your money back at the end of your policy.

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Trump Has Been Convicted. Here’s What Happens Next.

Donald J. Trump has promised to appeal, but he may face limits on his ability to travel and to vote as he campaigns for the White House.

• Share full article

By Jesse McKinley and Maggie Astor

• May 30, 2024

The conviction of former President Donald J. Trump on Thursday is just the latest step in his legal odyssey in New York’s court system. The judge, Juan M. Merchan, set Mr. Trump’s sentencing for July 11, at which point he could be sentenced to as much as four years behind bars, or to probation.

It won’t stop him from running for president, though: There is no legal prohibition on felons doing that . No constitutional provision would stop him even from serving as president from a prison cell, though in practice that would trigger a crisis that courts would almost certainly have to resolve.

His ability to vote — for himself, presumably — depends on whether he is sentenced to prison. Florida, where he is registered, requires felons convicted there to complete their full sentence, including parole or probation, before regaining voting rights. But when Floridians are convicted in another state, Florida defers to the laws of that state, and New York disenfranchises felons only while they are in prison.

The Trump Manhattan Criminal Verdict, Count By Count

Former President Donald J. Trump faced 34 felony charges of falsifying business records, related to the reimbursement of hush money paid to the porn star Stormy Daniels in order to cover up a sex scandal around the 2016 presidential election.

“Because Florida recognizes voting rights restoration in the state of conviction, and because New York’s law states that those with a felony conviction do not lose their right to vote unless they are incarcerated during the election, then Trump will not lose his right to vote in this case unless he is in prison on Election Day,” said Blair Bowie, a lawyer at the Campaign Legal Center, a nonprofit watchdog group.

Mr. Trump will almost certainly appeal his conviction, after months of criticizing the case and attacking the Manhattan district attorney, who brought it, and Justice Merchan, who presided over his trial.

Long before that appeal is heard, however, Mr. Trump will be enmeshed in the gears of the criminal justice system.

A pre-sentencing report makes recommendations based on the defendant’s criminal record — Mr. Trump had none before this case — as well as his personal history and the crime itself. The former president was found guilty of falsifying business records in relation to a $130,000 payment to Stormy Daniels, a porn star who says she had a brief sexual tryst with Mr. Trump in 2006, in order to buy her silence.

At the pre-sentence interview, a psychologist or social worker working for the probation department may also talk to Mr. Trump, during which time the defendant can “try to make a good impression and explain why he or she deserves a lighter punishment,” according to the New York State Unified Court System.

The pre-sentencing report can also include submissions from the defense, and may describe whether “the defendant is in a counseling program or has a steady job.”

In Mr. Trump’s case, of course, he is applying — as it were — for a steady job as president of the United States, a campaign that may be complicated by his new status as a felon. Mr. Trump will likely be required to regularly report to a probation officer, and rules on travel could be imposed.

Mr. Trump was convicted of 34 Class E felonies, New York’s lowest level , each of which carry a potential penalty of up to four years in prison. Probation or home confinement are other possibilities that Justice Merchan can consider.

That said, Justice Merchan has indicated in the past that he takes white-collar crime seriously . If he did impose prison time, he would likely impose the punishment concurrently, meaning that Mr. Trump would serve time on each of the counts he was convicted of simultaneously.

If Mr. Trump were instead sentenced to probation, he could still be jailed if he were later found to have committed additional crimes. Mr. Trump, 77, currently faces three other criminal cases: two federal, dealing with his handling of classified documents and his efforts to overturn the 2020 election , and a state case in Georgia that concerns election interference.

Mr. Trump’s lawyers can file a notice of appeal after sentencing, scheduled for July 11 at 10 a.m. And the judge could stay any punishment during an appeal, something that could delay punishment beyond Election Day.

The proceedings will continue even if he wins: Because it’s a state case, not federal, Mr. Trump would have no power as president to pardon himself .

Jesse McKinley is a Times reporter covering upstate New York, courts and politics. More about Jesse McKinley

Maggie Astor covers politics for The New York Times, focusing on breaking news, policies, campaigns and how underrepresented or marginalized groups are affected by political systems. More about Maggie Astor

Our Coverage of the Trump Hush-Money Trial

Guilty Verdict : Donald Trump was convicted on all 34 counts  of falsifying records to cover up a sex scandal that threatened his bid for the White House in 2016, making him the first American president to be declared a felon .

What Happens Next: Trump’s sentencing hearing on July 11 will trigger a long and winding appeals process , though he has few ways to overturn the decision .

Reactions: Trump’s conviction reverberated quickly across the country  and around the world . Here’s what voters , New Yorkers , Republicans , Trump supporters  and President Biden  had to say.

The Presidential Race : The political fallout of Trump’s conviction is far from certain , but the verdict will test America’s traditions, legal institutions and ability to hold an election under historic partisan tension .

Making the Case: Over six weeks and the testimony of 20 witnesses, the Manhattan district attorney’s office wove a sprawling story  of election interference and falsified business records.

Legal Luck Runs Out: The four criminal cases that threatened Trump’s freedom had been stumbling along, pleasing his advisers. Then his good fortune expired .