travel money comparison tesco

Tesco Travel Money

Find out more about tesco travel money options with our useful guide..

In this guide

What travel money services does Tesco offer?

What currencies can i order through tesco, how much can i transfer with tesco, how soon can i get my money, how safe is my money, are there any fees i might have to pay, customer service information for tesco travel money.

Tesco offers two travel money services:

• Buy Online. Home delivery is free, when you spend £500 or more online
• Buy In Store. Open seven days a week, most of Tesco’s bureaux are open late on week nights.

Here’s a list of the countries available to order travel money for:

• Australian Dollar (AUD)
• Bahraini Dinar (BHD)
• Barbados Dollar (BBD)
• Brazilian Real (BRL)
• Brunei Dollar (BND)
• Bulgarian Lev (BGN)
• Canadian Dollar (CAD)
• Cayman Islands Dollar (KYD)
• Chilean Peso (CLP)
• Chinese Yuan Renmibi (CNY)
• Costa Rican Colon (CRC)
• Croatian Kuna (HRK)
• Danish Krone (DKK)
• Dominican Peso (DOP)
• Egyptian Pound (EGP)
• Hong Kong Dollar (HKD)
• Hungarian Forint (HUF)
• Iceland Krona (ISK)
• Indonesaian Rupiah (IDR)
• New Israeli Sheqel (ILS)
• Jamaican Dollar (JMD)
• Japanese Yen (JPY)
• Jordanian Dinar (JOD)
• Kenyan Shilling (KES)
• Kuwaiti Dinar (KWD)
• Malaysian Ringgit (MYR)
• Mauritius Rupee (MUR)
• Mexican Peso (MXN)
• New Zealand Dollar (NZD)
• Norwegian Krone (NOK)
• Omani Rial (OMR)
• Papua New Guinean Kina (PGK)
• Peruvian Nuevo Sol (PEN)
• Philippine Peso (PHP)
• Polish Zloty (PLN)
• Qatari Rial (QAR)
• Saudi Riyal (SAR)
• Singapore Dollar (SGD)
• South African Rand (ZAR)
• Swedish Krona (SEK)
• Swiss Franc (CHF)
• New Taiwan Dollar (TWD)
• Thai Baht (THB)
• Trinidad and Tobago Dollar (TTD)
• Turkish Lira (TRY)
• UAE Dirham (AED)
• US Dollar (USD)
• Aland Islands (ALA)
• Andorra (AND)
• Australia (AUS)
• Austria (AUT)
• Bahrain (BHR)
• Barbados (BRB)
• Belgium (BEL)
• Brazil (BRA)
• Brunei (BRN)
• Bulgaria (BGR)
• Canada (CAN)
• Cayman Islands (CYM)
• Chile (CHL)
• China (CHN)
• Costa Rica (CRI)
• Croatia (HRV)
• Cyprus (CYP)
• Denmark (DNK)
• Dominican Republic (DOM)
• Egypt (EGY)
• Estonia (EST)
• Finland (FIN)
• France (FRA)
• French Guiana (GUF)
• French Southern Territories (ATF)
• Germany (DEU)
• Guadeloupe (GLP)
• Hong Kong (HKG)
• Hungary (HUN)
• Iceland (ISL)
• Indonesia (IDN)
• Ireland (IRL)
• Israel (ISR)
• Italy (ITA)
• Jamaica (JAM)
• Japan (JPN)
• Jordan (JOR)
• Kenya (KEN)
• Kuwait (KWT)
• Latvia (LVA)
• Lithuania (LTU)
• Luxembourg (LUX)
• Malaysia (MYS)
• Malta (MLT)
• Martinique (MTQ)
• Mauritius (MUS)
• Mayotte (MYT)
• Mexico (MEX)
• Monaco (MCO)
• Montenegro (MNE)
• Netherlands (NLD)
• New Zealand (NZL)
• Papua New Guinea (PNG)
• Philippines (PHL)
• Poland (POL)
• Portugal (PRT)
• Qatar (QAT)
• Reunion (REU)
• Saint Barthelemy (BLM)
• Saint Martin (MAF)
• Saint Pierre And Miquelon (SPM)
• San Marino (SMR)
• Saudi Arabia (SAU)
• Singapore (SGP)
• Slovakia (SVK)
• Slovenia (SVN)
• South Africa (ZAF)
• Spain (ESP)
• Sweden (SWE)
• Switzerland (CHE)
• Taiwan (TWN)
• Thailand (THA)
• Trinidad And Tobago (TTO)
• Turkey (TUR)
• United Arab Emirates (ARE)
• United States (USA)

For your security as well as Tesco’s, there are some limits on how much you can order and collect.

You can order between £50 to £2,500 online.

Tesco will email you an order confirmation, and will confirm your exact delivery date. The table below shows the earliest time your money can be delivered.

Tesco Travel Money uses the same delivery service as Travelex, so they know what they’re doing. If, however, there is a problem with your order you can contact Tesco directly and they will deal with your issue.

When you spend £500 or more online, home delivery is free.

For online orders less than £500, you pay £3.95 for delivery.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use . When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Charlie Barton

Charlie Barton was a publisher at Finder. He specialised in banking and investments products, including banking apps, current accounts, share-dealing platforms and stocks and shares ISAs. Charlie has a first-class degree from the London School of Economics, and in his spare time enjoys long walks on the beach. See full profile

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4 Responses

My son has a tesco travel money card and is in america. He has forgotten his pin number. What can he/we do to help him please?

Thanks for leaving a question on finder.

You can request a new PIN or a reminder if you forget your current PIN online or by phone.

Online: Log in to Online Banking, click on your account and then select Manage account in the top right hand corner. Select the account name, above the sort code and account number on the Account Overview, then choose Request PIN reminder from the menu.

Enter the last four digits of your card number and choose whether you want to get a new PIN or a reminder of your existing PIN. You’ll receive your PIN number within 2 – 3 working days by post.

By phone: Call them on 0345 678 5678* and they’ll send a new PIN to you. You’ll receive your PIN number within 2 -3 working days by post. It can not be sent overseas so you will have to give the pin to your son once you have it by mail.

Please send me a message if you need anything else. :)

Cheers, Joel

Can I swap over 50 euros into pounds at a tesco store

Thanks for getting in touch with finder. I hope all is well with you. :)

Yes, you may be able to swap over 50 Euros into Pounds at a Tesco Store. However, please note that for security reasons, there are some limits on how much you can order and collect.

I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

Have a wonderful day!

Cheers, Joshua

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Tesco Bank exchange rates

Today's latest Tesco Bank travel money exchange rates, updated 2 minutes ago at 11:05pm

Tesco Bank have 47 currencies in stock and ready to order now. Buy online and get your currency delivered securely to your door, or collect your order from one of over 500 Tesco Bank travel money stores across the UK. Tesco Clubcard holders get enhanced rates that are better than the standard rates advertised in-store.

Jump to section:

• View today's latest Tesco Bank rates
• Compare Tesco Bank's rates

Travel money order limits and fees

• Tesco Bank reviews

Tesco Bank travel money rates

These are the latest Tesco Bank exchange rates available right now. You must buy or reserve your currency online to guarantee these rates or you may be given a lower rate in-store.

Compare Tesco Bank's exchange rates

We compare hundreds of exchange rates from dozens of currency suppliers across the UK. Select a currency below to see how Tesco Bank's rates compare against other providers. Bear in mind that exchange rates aren't the only important factor when it comes to getting the best deal; commission, card surcharges and delivery costs can all affect the final amount of currency you'll receive. You can see the full range of currency deals on offer right now on our travel money comparisons .

Tesco Bank have a minimum order value of £75 for in-store collection and £75 for home delivery. The maximum amount you can order is £2,500 for collection and £2,500 for delivery. Delivery is free for orders over £500, otherwise a £4.99 delivery charge will apply.

Latest Tesco Bank reviews

Our users have rated Tesco Bank Average in 231 reviews. Read more on our Tesco Bank reviews page.

Kate Walker

I popped into Birkenhead, Bidston Moss Tesco to get £200 of Euros. The service was excellent and the rate was very good with a club card. Thank you Tesco.

Read the full review

I ordered my currency on line. Traveled to the store to collect it and the surly woman in the kiosk told me my photo ID wasn’t accepted . Their FAQs state You’ll need to bring valid photo ID e.g. passport, full UK photographic driving licence ( [...]

I ordered online got a really good rate put all my details in and haven't had an email or anything saying it has gone through, I'm worried about my bank details!!!

The euro rate at Tesco Bank right now is 1.1561. You'll need to buy or reserve your euros online to guarantee this rate; the euro rate offered in your local store may be lower if you don't order online beforehand.

Yes, if you're a Tesco Clubcard holder you'll get Clubcard Prices on your travel money which means the exchange rate will be better than the standard rate advertised in-store. You can also use your Clubcard when you buy or reserve your currency online; just enter your Clubcard number when you place your order and the enhanced Clubcard exchange rate will be applied to your order automatically.

Tesco's exchange rates tend to be slightly above average in terms of competitiveness, and their currency deals are comparable to other major UK supermarkets including Sainsbury's , and ASDA . Many customers who buy their travel money with Tesco do so because of Tesco's brand name and convenient locations, rather than how competitive their exchange rates are. That being said, Tesco offer tiered exchange rates on some currencies which improve with increasing order amount (the more you order, the better the rate), and Clubcard holders can get enhanced rates that are better than Tesco's standard rates which can make their currency deals more attractive compared to other supermarkets.

However, if you want the absolute best exchange rate on the market, better currency deals are usually available from other suppliers, especially if you order online. Check out our travel money comparisons to find the best currency deals available right now.

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Best Travel Money Exchange Rates

This guide explains the cheapest and most expensive ways to buy travel money. It can help save you money if you are thinking about going abroad and trying to work out the best way to spend while you’re there.

Commission charges when you buy foreign currency have mostly been phased out. Now most currency operators make money on the difference between the interbank exchange rate and the rate they actually give you.

So the best way to know if you’re getting a good deal is to compare the actual exchange rate you’re getting.

For each of the currency exchange locations below we have used the euro as an example – but where you see a location giving a bad rate (versus the benchmark interbank rate) for euros, you can be pretty much guaranteed you’ll get a bad rate on any other currency at that place too.

Here are the ways to get the most for your money when buying foreign currency, ranked best to worse.

(All exchange rate figures accessed on 31 May 2023.)

1. Currency cards – BEST RATE

Currency cards are debit card-style payment cards designed to be used while you are on holiday or travelling outside the UK to pay for goods and services, usually anywhere you see the Visa or Mastercard symbol. They either come as regular debit cards with travel money functions, or as a separate card that connects to your current account.

Currency cards offer some of the best exchange rates around, and are available from, for example, Starling, Monzo, Revolut , and Curresea.

The euro rates for Monzo and Starling are based on the Mastercard rate so are the same:

• £1 = €1.152 (vs €1.16 inter bank rate)
• On the (free) Curresea Essential plan the euro rate is:
• £1 = €1.152
• On the (paid for) Curresea Elite and Premium Plans the euro rate is:
• £1 = €1.163
• Ease : Currency cards are easy to apply for and usually arrive within a few days. If your bank already offers a travel card service as part of your account you may not even need to apply for a new card. Plus you don’t need to worry about changing up loads of cash before you go away.
• Safety : If you lose cash, it’s usually gone forever. If you lose your currency card you can cancel or freeze it in the app that comes with it to prevent anyone else using your holiday money.
• Virtual wallet: You can add most currency travel cards to your phone’s virtual wallet, so you can still pay if you only have your phone with you.
• Charges : Fees and charges to use your currency card abroad can vary significantly so it’s a good idea to compare different providers before you choose which one to go with. Be aware the card provider – typically either Visa or Mastercard – can add its own fees of 1% to 3% on top of transactions.
• ATM limits : Some card providers limit how much you can withdraw from an ATM in another currency, after which point more charges will kick in.
• No section 75 protection : Debit card payments and purchases are not covered by section 75 of the Consumer Credit Act. But you might be able to make a claim for a refund under a voluntary scheme called ‘chargeback’.

2. Cash point abroad

Withdrawing cash from an ATM abroad can be a good option if you use one of the cards mentioned above, or a travel credit card. They are designed for use while travelling, so give the best rates on foreign exchange, and limit the fees and charges you pay while using them abroad. It is for this reason that cash point abroad is 2nd on this list.

Currensea , for example, as well as offering one of the best exchange rates, allows free ATM withdrawals of up to £500 using its Essential Card (2% fees over), and with its Premium Card (which costs £25 a year) you can make fee free ATM withdrawals up to £500 (1% over).

Just remember – if the ATM tells you a fee applies, always choose to be charged in the local currency of the country you’re in (this also applies to card purchases).

However beware – this is important – if you just take your normal debit card or credit card abroad you can expect high fees from both your bank and the ATM you withdraw cash from every time you use it.

For example, Barclays charges a 2.99% fee for using your standard debit card abroad when making purchases, withdrawing cash or for refunds.

So while you get a pretty decent exchange rate with Barclays (which uses the Visa rate), once the fee is added the real rate is much less. It works out as:

• Visa rate: £1 = €1.161 (vs €1.16 inter bank rate) before charges
• Barclays debit rate after 2.99% fee added £1 = €1.128
• Cheap if you use the right cards: Taking money out at an ATM abroad can be one of the cheapest ways to access cash if you use a card designed for travel that has fee-free options and a good exchange rate (see out Best Rated above).
• Don’t have to carry so much cash : Carrying huge wads of cash is a theft risk. Carrying a couple of cards (one for use and one for back up) is much safer.
• High costs if you use the wrong card : Avoid taking your regular debit or credit card abroad as to use it you will have to pay high fees.

3. Highstreet in the UK

UK highstreets offer a number of exchange rate options, from inside department stores like John Lewis, to specialist foreign exchange rate shops like No1 Currency. The rates will vary from place to place.

At No1 Currency, for example, the online rates are below, although the website says the in store rates may differ from what is advertised.

• £1 = €1.136 (vs €1.16 inter bank rate)
• £100 = €113.67

At John Lewis, on the same day the rate was a little lower.

• £1 = €1.133 (vs €1.16 inter bank rate)
• £100 = €113.38

At Marks & Spencer, the rate was:

• Click & Collect: £1 = €1.138 (vs €1.16 inter bank rate)
•  £100 = €113.80
• In-store bureau de change: £1 = €1.119
• £100 = €111.90

At a TUI branch the rate was:

• £1 = €1.139 (vs €1.16 inter bank rate)
• £100 = €113.90
• Click and collect rates : No1 Currency for example gives you a better rate if you order online then pick up in store, rather than have your currency delivered.
• Perks: For example at John Lewis you can earn points when you pay for currency with your Partnership Credit Card.
• Delivery charges : No1 Currency only offers free delivery for orders of £800 or more. At John Lewis the minimum for free home delivery is over £500.
• Minimum orders online: John Lewis, for example, has a £250 minimum for online orders.

4. Online with a supermarket

Most supermarkets sell travel money these days and it can be a convenient way to pick up some currency while you do your weekly shop. You can buy on the day or order online to collect.

As an added bonus, supermarkets offer a better rate on foreign currency for their loyalty card holders, pushing supermarkets up the ranking in terms of rates.

• Standard rate: £1 = €1.130 (vs €1.16 interbank rate)
• £100 = €113
• Tesco Clubcard rate:  €1.135
• £100 = €113.50

Sainsbury’s

• £1 = €1.131 (vs €1.16 interbank rate)
• £100 =  €113.17
• Sainsbury’s Nectar card rate: €1.1340
• £100 = €113.40
• Loyalty perks and points : Loyalty card holders get better exchange rates, plus you can earn loyalty points when you pay for the currency just like any other purchase.
• Convenience : Order online then pick up when you do your weekly shop.
• Minimum order amounts: For example Tesco has a minimum order amount of £400 worth of currency when you buy online, and a minimum of £500 to have a free home delivery. There is no minimum order amount for Sainsbury’s but a £4.99 fee to have currency bought online delivered at home.

5. Post office

The Post Office is a handy one-stop-shop for lots of holiday related things, from travel insurance to international driving permits, and including travel money. While the Post Office doesn’t offer the best rates on the market, it does have several other advantages that could make it a good option, especially if you are in a hurry.

• £1 = €1.116 (vs €1.16 inter bank rate)
• £100 = €111
• Rate increases : Order online for the best rates on every currency. The more you buy, the better the rate.
• Fast pick up service : You can pick up euros and US dollars from your nearest branch in as little as 2 hours, from selected branches. Order by 2pm (1pm Saturday) to collect the same day, from 2 hours later. Order after 2pm (1pm Saturday) to collect the next working day, from 11am. Or you can choose delivery to your home.
• Refund policy : Will refund 100% of the holiday money you bought if your trip abroad is cancelled
• Queuing : With a number of Post Offices closing, and banks shutting branches that force Post Offices to do more services with less, queues to get you travel money in person can be long.
• Limited currencies: Post Office in my experience don’t carry that much currency and only in a few of the most common types. Beware buying last minute – if you try to just pop in on the day to buy your currency without pre-ordering you may find they have run out, or don’t stock it.
• Buying limits : The minimum you can buy online of a currency is £400 worth, and the maximum is £2,500.

6. At the airport

The only times I have bought currency at the airport it has been out of desperation and from a lack of forward planning – and I have always regretted it. It is typically one of the most expensive (i.e. worst exchange rate) places to buy foreign currency.

But if you’re in a panic because you forgot to get out any cash before your trip, it is at least convenient to be able to grab some foreign currency before your flight.

Two of the most common foreign exchange kiosks you’ll find at UK and global airports are Travelex and Eurochange. The rates below are for their online services – rates in the airport are likely to be worse.

Travelex (online)

• £1 = €1.130 (vs €1.16 inter bank rate)

Eurochange (online)

• £1 = €1.131 (vs €1.16 inter bank rate)
• £100 = €113.10
• Location : If in the rush to get away you forgot to pick up any currency, airport foreign exchange kiosks offer a last minute lifeline.
• Availability of currencies: Because of their location, currency kiosks in international airports tend to be well stocked in multiple currencies, even the less common ones.
• Switching currency : If you are visiting multiple countries on a trip but don’t want to carry large amounts of currency, changing up just what you need at each airport you pass through is an option.
• Expense : You will never get the best foreign exchange rate at an airport.
• Lack of comparison : Even if there is more than one currency store at the airport, they all tend to offer the same rates. Once you’re there you have no other options, you have to take what you can get.

7. Online with a bank

Buying travel money from your local bank might seem like the obvious choice, but surprisingly the rates on offer are likely among the worst you’ll get anywhere in the UK. However the limits on how much you can purchase can be higher (though you won’t get a better rate the more you buy so why bother?)

• £1 = €1.105 (vs €1.16 inter bank rate)
• £100 = €110.51
• £1 = €1.106 (vs €1.16 inter bank rate)
• £100 = €110.67
• High purchase limits : At Barclays, for example, you can order up to £5,000 per person within a 90-day period, and a maximum of £2,500 from that amount can be sent for home delivery to a single residential address.
• Fee free deliveries : HSBC, for example, offers fee-free deliveries on your travel money to HSBC Full and Cash Service branches or to your home. Other banks may charge.
• Limited to customers : You may find you have to be a customer. For example, you’ll need a Barclays debit card or Barclaycard to place your order for currency online there.
• Expensive : Among the worst rates for currency exchange you’ll find anywhere in the UK.

8. Bureau de change abroad – WORST RATE

Bureau de changes abroad are typically in tourist hotspots. And what do we know about tourist hotspots? Rife for pickpockets and overinflated prices. This is the attitude you should take to foreign currency shops in these locations.

One example that proves the ‘expensive option’ point is Ria Money Transfer & Currency Exchange, situated in the busy Plaza de Callao in central Madrid, Spain.

Ria’s exchange rate on 31 May 2023 was:

• £1.00 = €0.99 (vs €1.16 inter bank rate)

Convenient : If you really need cash while you’re abroad, maybe because you’re in a place where your cards are not widely accepted, a local bureau de change may be a lifeline – just expect to pay heavily for that life raft.

• Cost, cost, cost: Buying foreign currency from a currency shop or kiosk in a tourist hotspot (where you are most likely to find them) is an extremely expensive way of getting your hands on cash. Avoid if at all possible.
• Theft risk : Pickpockets may hang around bureau de change just like they hang around ATMs, because they know you have just withdrawn what is probably a large amount of money. Secure your cash hidden away before you leave the kiosk.

Is it still worth getting travel cash ahead of your holidays?

Yes. Absolutely. Cards aren’t accepted everywhere, as I found to my detriment when I arrived in Buenos Aires and tried to take out local currency on my credit card at the foreign exchange desk at the airport.

“Absolutely not possible”, I was told. A combination of a lack of provision to buy currency on credit card there, and the Argentinian peso being just too volatile for credit card providers to let you buy it on their service.

All I had in hard currency was US$100 in Argetininian pesos I had changed in the airport at Rio De Janeiro, Brazil, where I had just come from, and a US$100 bill. Luckily I’d pre-paid my Buenos Aires hotel in advance, and I could easily find restaurants that would accept my credit card. But taxis only took cash, so I spent a lot of time walking – thinking about how I should have brought more pesos with me.

We’ve answered some of the most commonly asked questions when it comes to travel money.

Yes, in most cases. Cash withdrawal fees will probably apply of around 3%, just like they would at home for taking cash out on a credit card, and these will be on top of any currency conversion fees.

Be aware though – in countries with a highly fluctuating exchange rate, like Argentina, you may not be able to buy foreign cash with your credit card (not even at the bureau de change at the airport, for example). You still may be able to pay for goods and services with your credit cards, but check how widely they are accepted before you travel.

Yes, on the whole. When buying travel money online, like with buying anything online, you’re best off sticking to well known brands, whether that be banks, supermarkets, or currency exchange stores.

A large institution or well known brand is less likely to go bust, and that is important because foreign exchange is not a regulated service. This means your cash is not protected if the company you tried to get your foreign currency from closes suddenly.

Yes. Most places that sell you travel money will buy it back from you. But just like when you’re swapping your pounds for foreign currency, when you swap it back you should compare the exchange rates on offer. As a general rule, a location that offers a good rate one way, offers a good rate the other way.

Travel money providers – from the currency shops and bureau de change, to the banks and supermarkets, anywhere basically that sells currency – make money by giving you slightly less than the central banks give them for the foreign money you want to buy.

For example, if a currency provider tells you they will give you €1.131 for every pound you give them, but the central bank rate for euros is €1.157 per pound, the difference is €0.026, which they pocket. This may not sound much, but multiplied over millions of transactions a  year, it adds up.

Compare, compare, compare the single unit price – which means the £1 for a €1 rate, or whichever currency you choose, versus the interbank rate, which you can get by just Googling “1 GBP in EUR”.

Places that sell currency, online or in a shop, have to show you the exchange rate for that day. While it’s probably not practical to go traipsing around comparing shops, it’s easy enough to do so online. If you run up against minimum purchase amounts online, still go with the company providing the best rate but visit their location in person.

Also try not to get yourself in a position where you’re desperate to buy foreign currency, either at home or abroad. This means having enough cash on you in remote locations, and tourist hotspots, and before you travel (to avoid the airport currency shops).

Laura Miller has been a financial journalist for more than 10 years, and was on staff at the Telegraph before going freelance in 2019. Her experience includes hosting podcasts and panels, and she writes for the Times and Sunday Times, Daily Mail, Mail on Sunday and the Sun, as well as trade titles. She now lives by the sea in Aberystwyth, west Wales.

You may also be interested in:

Privacy Overview

Tesco Bank Travel Money Review: Is It Safe? How Does It Work? What Are the Rates?

François Briod

Co-Founder of Monito and money transfer expert, François has been helping Monito’s users navigate the jungle of money transfer fees, bad exchange rates and tricks for the last ten years.

Links on this page, including products and brands featured on ‘Sponsored’ content, may earn us an affiliate commission. This does not affect the opinions and recommendations of our editors.

Is Tesco Travel Money the best option for sending money abroad? Compare your options to make sure you get the best exchange rate and lowest fees for your transfer.

What Monito Likes About Tesco Travel Money

• Wide availability across the U.K.
• A range of currency exchange services
• Tesco Bank Travel Money services are safe, secure and regulated

What Monito Dislikes About Tesco Travel Money

• Exchange rates can be considerably more expensive than the base exchange rate or exchange rates from other providers
• Local bureau de change rates can be more expensive still and you can only get these rates by visiting a Tesco bureau de change

Compare Tesco To Cheaper Travel Money Cards Now

Read our in-depth guide for the best travel cards in the UK, such as Revolut , that can reduce or eliminate foreign transaction fees, ATM fees, and expensive currency conversion fees.

Our Independent Review of Tesco Bank Travel Money

Tesco Bank Travel Money is a currency exchange provider that offers foreign currency services. As part of the largest supermarket chain in the U.K., Tesco Bank is very widely available with over 360 in-store money exchange locations and pre-order money collection from over 550 Tesco stores. They have minimum order amounts of £50 and maximum order amounts of £2,500. You can exchange money for more than 120 currencies. 

Tesco travel money is provided through a partnership with Travelex .

Tesco Bank Click and Collect for Foreign Currency

You can choose to order foreign currency online through your Tesco bank account. You can then have the money delivered directly to your home address or to a Tesco store. If you order euros or U.S. dollars before 2 PM, you can pick them up the next day from most Tesco Travel Money locations.  Other currencies can take up to five days. You can also order any currency for the next weekday delivery to most Tesco customer service desks.

You can choose a collection date for picking up your money and you’ll need to bring a valid photo ID—either a passport, or a full UK photographic driving license. You’ll also need to bring the card that you used to place the order. 

Tesco Bank Currency Exchange at Local Bureaux de Change

Tesco Bank also provides immediate money exchange at  360 in-store locations across the U.K. Many of these locations are open seven days a week with same-day collections on many popular currencies. 

Tesco Bank Home Delivery for Travel Money

If you order foreign currency before 2 PM from Monday to Thursday, you can get next day home delivery to most homes in the U.K. Orders of £500 or more and there’s a £3.95 delivery charge for orders under that amount. You will need to have someone available to sign for the delivery. 

Tesco Bank Prepaid Currency Card

Tesco Bank offers a “Cash Passport” travel card. You can load up to seven currencies on the card including euros, U.S. dollars, U.K. pounds, South African rands, Australian dollars, Canadian dollars and New Zealand dollars. Tesco Bank does not charge a commission on foreign purchases, although there is a 2% fee if you use the card in the U.K. The travel money card is only available at a Tesco Bank location. 

Tesco Bank International Money Transfer

Tesco Bank allows you to send money to an international account so you can make a payment or deposit money with family or friends. Tesco Bank has a partnership with MoneyGram . This means you can send money to over 200 countries around the world. MoneyGram can’t be used for business transactions. 

You can send money through the MoneyGram app or by paying with a debit card or cash at a Tesco Bank location. Beneficiaries can get money deposited into their bank account, transferred to a mobile wallet or they can pick it up in cash at a MoneyGram agent location. Money transfers can take anything from a few minutes to a couple of working days. 

You can also collect 50 Tesco Clubcard points every time you send £50 or more.

No Card Fees Charged by Tesco Bank

Whether you buy online or in-store, Tesco Bank does not charge any card processing fees, although you may be charged by your card provider.

Tesco Bank Price Guarantee

Tesco Bank provides a price match guarantee on local bureau de change orders. This does not apply to online orders. Here’s what Tesco Bank says about its price guarantee:

“If you find a better exchange rate advertised by another provider within three miles of your chosen Tesco Travel Money Bureau, on the same day, we'll match it.

Price Match only applies in store on a like-for-like basis on sell transactions and does not apply to any exchange rate advertised online or by phone. This is not available in conjunction with any other offer. We reserve the right to verify the rate you have found and the three-mile distance (using an appropriate route planning tool).”

Tesco Travel Money Fees & Exchange Rates

In most cases, Tesco Bank makes its money on the difference between the “base,” interbank* exchange rate and the exchange rate that they charge to you. However, some services such as international money transfers do incur additional fees. 

*The interbank rate is also known as the mid-market or standard exchange rate, which is the midpoint between the buying and the selling prices of the two currencies.

Click and Collect Fees

There is no additional fee for Click and Collect orders, although if you cancel a Click and Collect order less than 24 hours before your collection date you will be charged a £10 late cancellation fee.

Tesco Bank Travel Money Money Card Fees

• Tesco Bank does not charge a commission on foreign purchases, although there is a 2% fee if you use the card in the U.K.
• There is a fee for ATM withdrawals as follows: GB £1.50, EU €1.75, US $2.30, AU $2.30, CA $2.40, NZ $3.00, ZA R20. Some cash machine operators charge an extra fee
• There may be other fees associated with the travel money card, you can get details of these fees from a Tesco Bank location

Tesco Bank Travel Money Money Card Limits

Tesco Bank locations will have details on any limits applicable to your travel money card. 

Overseas Money Transfer Fees

Tesco Bank has a partnership with MoneyGram and they do charge a fee for sending money directly to some countries. Typically, the fee charged by MoneyGram is £3.99.

About Fees Levied by Banks

Certain fees may be levied by banks when you are transferring money to another account. These fees are outside the control of Tesco Bank Travel Money. Circumstances, where banks may charge additional fees, include:

• Wire transfers into or out of sender or beneficiary accounts
• Transfers that are sent via SWIFT or certain other banking protocols
• Beneficiary banks charge a fee to receive a transfer
• Intermediary banks charge fees to process money in transit

These fees could mean that the beneficiary receives less money than stated by Tesco Bank Travel Money due to circumstances beyond Tesco Bank Travel Money’s control. If you want to understand what these extra fees are likely to be, please contact your bank and the beneficiary's bank.

Tesco Bank Travel Money Exchange Rates for Online Travel Money

Tesco does offer better exchange rates the more you order. You can start to access these better exchange rates when you buy £800 or more of foreign currency.

Tesco Bank Travel Money makes most of its money on the difference between the exchange rate they offer to customers and the base exchange rate. For example, the base rate to convert U.K pounds into euros is 1.146 euros per pound. Tesco Bank Travel Money offers an exchange rate of 1.125 euros per pound, a difference of 2%. That means if you’re exchanging 1,000 pounds into euros, you’ll pay an exchange rate fee of around £20.

Here are some other examples:

Exchanging 1,000 U.K. Pounds Into Australian Dollars

• Base exchange rate, 1,000 GBP converts to 1,862 AUD
• Tesco Bank Travel Money online exchange rate, 1,000 GBP converts to 1,819 AUD
• The Tesco Bank Travel Money exchange rate is 2.3% more expensive, or around 23 GBP in exchange rate fees

Exchanging 1,000 U.K. Pounds Into Danish Krone

• Base exchange rate, 1,000 GBP converts to 8,560 DKK
• Tesco Bank Travel Money exchange rate, 1,000 GBP converts to 8,107 DKK
• The Tesco Bank Travel Money exchange rate is 5.2% more expensive, or around 52 GBP in exchange rate fees

Exchanging 1,000 U.K. Pounds Into U.S. Dollars

• Base exchange rate, 1,000 GBP converts to 1,265 USD
• Tesco Bank Travel Money exchange rate, 1,000 GBP converts to 1,244 USD
• The Tesco Bank Travel Money exchange rate is 1.7% more expensive, or around 17 GBP in exchange rate fees

If you’re purchasing currency online or you want to transfer money to an overseas account, you can get much better deals by comparing specialist currency exchange providers . Several money exchange services have overall fees of 1% or lower, even when taking into account differences in exchange rates. 

All of the Tesco Bank Travel Money exchange rates quoted in this section are based on their online rates for converting money for home delivery or store pickup. Local bureau de change rates may vary and are likely to be more expensive than what we quote here. All rates correct as of early October 2019.

Tesco Bank Travel Money Exchange Rates for International Money Transfers

Here are the rates Tesco Bank charges for sending money to foreign bank accounts through MoneyGram.

Sending 500 U.K. Pounds to a Euro Account

• Base exchange rate, 500 GBP converts to 573 EUR
• Tesco Bank Travel Money exchange rate, 500 GBP converts to 550 EUR
• The Tesco Bank Travel Money exchange rate is 4% more expensive, or around 20 GBP in exchange rate fees

Sending 1,000 U.K. Pounds to a South African Rand Account

• Base exchange rate, 500 GBP converts to 9,343 ZAR
• Tesco Bank Travel Money exchange rate, 500 GBP converts to 8,551 ZAR
• The Tesco Bank Travel Money exchange rate is 8.5% more expensive, or around 43 GBP in exchange rate fees

Sending 1,000 U.K. Pounds to a New Zealand Dollar Account

• Base exchange rate, 500 GBP converts to 999 NZD
• Tesco Bank Travel Money exchange rate, 500 GBP converts to 937 NZD
• The Tesco Bank Travel Money exchange rate is 6.3% more expensive, or around 31 GBP in exchange rate fees

Note that you will need to pay a Tesco Bank Travel Money international money transfer fee, typically £3.99, to send money to a foreign account. 

All of the Tesco Bank Travel Money / MoneyGram exchange rates quoted in this section are based on their online rates for sending money to an overseas bank account. All rates correct as of early October 2019.

Comparing Tesco Bank Travel Money Rates To Other Providers

You can easily compare many money transfer services directly using our comparison tool . There are several new services that it’s worth comparing directly to Tesco Bank Travel Money.

Specialist Currency Providers for Other Destinations

You may also be able to get a better deal for money transfers when you’re sending money to certain countries. For example, if you’re sending 500 GBP to India, the beneficiary would get around 44,846 INR with Skrill compared to 44,373 INR with Tesco Bank Travel Money, a difference of around 1% or £10. 

How Easy Is It To Send Money With Tesco Travel Money

Tesco Bank Travel Money services provide convenient local and online currency exchange and money transfer services, combined with an international travel card.

Credibility Security

Tesco is a very well known, trusted brand. Here’s what they say on their website. 

“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: 4th floor, Kings Place, 90 York Way, London N1 9AG.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Issued by Wirecard Card Solutions Limited. Registered Office: 3rd Floor, Grainger Chambers, 3-5 Hood Street, Newcastle upon Tyne, NE1 6JQ. Registered in England No. 07875693. Authorised and regulated in the UK by the Financial Conduct Authority to issue e-money (Firm Reference Number: 900051).”

Customer Satisfaction

Tesco Bank Money scored very poorly for customer satisfaction on Trustpilot, achieving a score of just 1.4 out of 5 across more than 600 reviews. Around 11% of reviews said that they were “excellent” or “great” compared to 88% of reviews that said they were “poor” or “bad.” Note that these reviews were across Tesco Bank Money as a whole, not just for travel money or currency or online overseas transfers. 

We could not find any positive reviews for Tesco Bank’s travel money service. 

There were numerous negative reviews including problems with discrepancies in the amount of foreign currency received, complaints about customer service and issues of the late arrival of travel money. A typical review was, “Ordered travel money from Tesco. When counting the travel money, a significant amount was missing coming to the approximate value of £35. Tesco investigated and found no discrepancies. So I am £35 out of pocket due to their incompetence. Do not order travel money off Tesco.”

How Tesco Bank Travel Money works

If you want to pick up travel money in person, the individual who ordered the travel money must collect it. You will need to have an order reference number and the card you used to pay for your order. You will also need to know your card's PIN to verify your order. You should also have a valid photo ID like a passport, full photographic driving license or an EU ID card. 

Here’s what you’ll need to make a money transfer with MoneyGram.

• If you have a MoneyGram account you can log in, otherwise, you will need to create a new account
• Decide how much you’d like to send and where you want to send it to
• Enter all the required information about the beneficiary, this might include their name, address, bank account details, and other personal data
• Tell MoneyGram how the beneficiary wants to get their money—through a bank transfer, cash pickup, or via some other means
• Agree to the MoneyGram exchange rate and any fees
• Pay for your transfer
• Enter your information to verify your identity

US Dollars (USD)

Whatever you have planned for your trip to the United States, you can check the Pound to Dollar exchange rate and buy Dollars online before you fly.

• Clubcard Prices Clubcard Prices

Clubcard Prices are available for all currencies, just enter your Clubcard number on the next page. Full T&Cs below.

• Purchase instantly Purchase instantly

Conveniently purchase currency or prepaid travel money cards in-store at Tesco.

• Home Delivery Home Delivery

Free delivery on orders worth £500 or more.

Exchange rates may vary during the day and will vary whether buying in store, online or via phone.

Select currency

Error: Please select if you have a Clubcard to continue

Do you have a Tesco Clubcard?

How much would you like?

Error: Please enter an amount between £75 and £2,500

Buy your Dollars online and collect them from selected Tesco stores

Travelling to the states pick up your dollars with the weekly shop..

If you need to buy Dollars for your next trip, why not give Click & Collect a try?

We offer next day collection for many currencies if you order before 2pm. You'll get a choice of collection dates when you place your order and these can vary depending on the store. So it's worth checking nearby alternatives if you don't see a date that suits.

Find a Store to get your Travel Money

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

Enter a postcode or location

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How far your US Dollars could go

• Mid-range three-course meal for two: $72.50
• Cappuccino: $4.31
• 0.5 litre of beer: $6.00
• Soft drink: $2.02
• Loaf of fresh white bread (500g): $3.13
• Taxi Start (Normal Tariff): $3.25
• Taxi 1km (Normal Tariff): $1.68
• One-way ticket on local transport: $2.50
• Litre of petrol: $0.72

Information sourced from Numbeo.com, March 2021.

• Mid-range three-course meal for two: $67.50
• Cappuccino: $4.46
• Soft drink: $1.89
• Loaf of fresh white bread (500g): $2.67
• Taxi Start (Normal Tariff): $3.50
• Taxi 1km (Normal Tariff): $1.79
• One-way ticket on local transport: $2.00
• Litre of petrol: $0.70

San Francisco

• Mid-range three-course meal for two: $80.00
• Cappuccino: $4.83
• 0.5 litre of beer: $8.00
• Soft drink: $2.49
• Loaf of fresh white bread (500g): $3.80
• Taxi 1km (Normal Tariff): $1.86
• One-way ticket on local transport: $3.00
• Litre of petrol: $0.95
• Mid-range three-course meal for two: $50.00
• Cappuccino: $4.38
• 0.5 litre of beer: $4.50
• Loaf of fresh white bread (500g): $2.88
• Taxi Start (Normal Tariff): $2.75
• Taxi 1km (Normal Tariff): $1.49
• Litre of petrol: $0.55
• Mid-range three-course meal for two: $100.00
• Cappuccino: $4.96
• 0.5 litre of beer: $7.00
• Soft drink: $2.05
• Loaf of fresh white bread (500g): $3.96
• One-way ticket on local transport: $2.75

Buy before you fly

Benefits of planning ahead.

It's a good idea to exchange your Pounds for Dollars before you leave, so you can pay for travel essentials like food, drink, tips and transport when you arrive.

Buying your Dollars before you head off means you won’t need to worry about finding an ATM while you’re away. You’ll also be able to avoid any additional withdrawal charges.

It’s worth remembering that foreign exchange rates can go up and down. When you buy your Dollars in advance, you can be sure of the rate you are going to get. If you withdraw cash when you arrive in the United States, you may not get the same exchange rate.

Get your currency when it’s convenient for you

You can use Click & Collect to arrange a time to pick up your US Dollars as part of your weekly shop, either from a Tesco Travel Money bureau or customer service desks. You can also use our home delivery service, which is free for online orders of £500 or more.

Exchange rates can change throughout the day and may vary depending on whether you buy in-store, online, or over the phone.

Some common questions about the US Dollar

The US Dollar is the currency used in the United States. It is used in other states, regions, and countries too, including Ecuador, Puerto Rico and the British Virgin Islands. Thanks to the size of America and the number of other places that use and accept US Dollars, it is the most commonly used currency in the world.

There are also 65 countries that don’t use the US Dollar as their official currency, but they do peg their own currencies to it. This means the national government or central bank of those countries sets a fixed exchange rate for its currency and the US Dollar.

There are many countries that use the US Dollar as their official currency, including:

• The United States of America The United States of America
• Commonwealth of Puerto Rico Commonwealth of Puerto Rico
• Ecuador Ecuador
• Republic of El Salvador Republic of El Salvador
• Republic of Zimbabwe Republic of Zimbabwe
• The Virgin Islands of the United States The Virgin Islands of the United States
• The British Virgin Islands The British Virgin Islands
• Democratic Republic of Timor-Leste Democratic Republic of Timor-Leste
• Bonaire Bonaire
• American Samoa American Samoa
• Commonwealth of the Northern Mariana Islands Commonwealth of the Northern Mariana Islands
• Federated States of Micronesia Federated States of Micronesia
• Republic of Palau Republic of Palau
• Marshall Islands Marshall Islands
• Panama Panama
• Turks and Caicos Turks and Caicos

Some countries don’t officially use the US Dollar, but they will accept it alongside their own currency. When you’re visiting places like Canada and Mexico, you will usually be able to pay in US Dollars. The same is true for the Bahamas, Barbados, Bermuda, the Cayman Islands, Belize, Nicaragua, Sint Maarten, St Kitts and Nevis, as well as the ABC Islands of Aruba, Bonaire, Curacao, and the BES Islands including Bonaire, Sint Eustatius, and Saba.

Notes come in 1, 2, 5, 10, 20, 50 and 100 Dollars. Coins come in 1 Cent, 5 Cent, 10 Cent and 25 Cent pieces, but are referred to as a Penny, Nickel, Dime and Quarter respectively.

Looking for a different currency?

We sell over 50 currencies. Order online for home delivery or collect from selected Tesco stores.

Important information

Buying foreign currency using a credit or debit card.

No matter how you purchase your travel money, whether it be in store, online or over the phone, you will not be charged any card handling fee by us. However, regardless of your card type, your card provider may apply fees, e.g. cash advance fees or other fees, so please check with them before you purchase your travel money.

Click & Collect cancellations

You can cancel a Click & Collect order any time prior to collection. We'll refund you with the full Sterling amount that you paid for your order, unless you cancel less than 24 hours before your collection date, in which case we'll charge a £10 late cancellation fee.

We are unable to refund any fees charged by your card issuer, so please contact them if you have any further queries.

When you get home, we'll buy your travel money back

Let us turn your unspent holiday money into Pounds. It couldn't be simpler.

Just pop into one of our in-store Travel Money Bureaux when you get home. We buy back all the currencies we sell in most banknote values and also the Multi-currency Cash Passport™. Buy back rates may vary during the day.

It doesn't matter where you bought your travel money, even if it wasn't from a Tesco Travel Money Bureau, we'll still buy it back.

More about currency buy back

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.

Clubcard Prices

Clubcard Prices are available on the sell rate only for currencies in stock online, on your date of purchase. The Clubcard Price will be better than the standard rate advertised online on the date of purchase. When purchasing online you must enter a valid Clubcard number to obtain the Clubcard Price rate. Exchange rates may vary whether buying in store, online or by phone.

Clubcard Prices apply to foreign currency notes in stock on your date of online purchase. Due to constant market and currency fluctuations, rates on the date of purchase cannot be compared to another day’s rates. The actual rate you receive may vary depending on market fluctuations. Clubcard data is captured by Travelex on behalf of Tesco Bank.

Check out the Tesco Bank privacy policy to find out more.

Other customers have been asking:

If you've got a problem or query on your order, get in touch with us. We're here to help.

• Exchange Rates
• Currency News

Tesco, Asda Or Sainsbury's? Which Has Best Travel Money Exchange Rates

On February 27th, we conducted impartial research to determine which supermarket currently offers the best Euro and US Dollar exchange rates for purchase!

As March draws near, many are starting to plan their holidays for 2024, dreaming of sunny escapes.

Booking your overseas holidays in advance allows you to snap up fantastic offers on hotels and flights.

But, are you aware that locking in an excellent exchange rate for your Euros or US Dollars can also lead to savings on your holiday expenses?

For example, over the last six months, the pound to euro interbank rate has varied from lows of 1.1406 to highs of 1.1758 !

The difference on buying £1500 worth of euros would have been over £50, £1710.90 at the lowest point and £1763.70 at the highest.

We've explored the current best deals available in a particular segment of the high street, specifically UK supermarkets.

Tesco, Asda and Sainsbury's all offer travel money but their exchange rates do vary.

Our latest research found that Tescos offers the best deal for Euros, while Asda offers the best deal for US Dollars.

Here is the full breakdown...

Tesco Travel Money

Euro - 1.1445 (best buy)

US Dollar - 1.2399

Delivery costs:

FREE over £500

£3.95 over £150

£4.99 Under £150

Click here for more Tesco travel money information.

Sainsbury's Travel Money

Euro - 1.1441

US Dollar - 1.2396

FREE over £400

£4.99 Under £400

Asda Travel Money

Euro - 1.1438

US Dollar - 1.2406 (best buy)

£4.99 Under £500

Charlotte Wood

Contributing Analyst

Popular Conversions

• Pound to Euro
• Pound to Dollar
• Pound to New Zealand Dollar
• Pound to Australian Dollar
• Pound to Canadian Dollar
• Euro to Pound
• Dollar to Pound
• Euro to Dollar

RELATED NEWS

Best euro rate: 1 gbp = 1.1833 today, best us dollar rate: 1 gbp = 1.2709 today, best australian dollar rate: 1 gbp = 1.9094 today, best canadian rate: 1 gbp = 1.7434 today, live yen rate today: 1 gbp = 200.5989 today, live nz dollar rate today: 1 gbp = 2.0689 today, live rand rate today: 1 gbp = 22.9297 today, live rupee rate today: 1 gbp = 105.9558 today.

Cheap Holiday Money At Your Fingertips

Tesco Bank Exchange Rates

Tesco Bank’s Exchange Rates

It is safe to say that our review of Tesco Bank Travel Money, by carefully examining the exchange rates offered, is one of the  cheapest bank providers.  When compared to all  holiday money providers in the UK , Tesco still seems to be offering good rates, particularly for the £750 and under inquiries and is commonly found as one of the top 3 cheapest providers for holiday money.

Tesco vs Wise

Does Wise have better exchange rates? Short answer = Yes.

Wise provides far better exchange rates for any currency pair needed. You can see the differences in the table below:

Additional Providers:

Check it for yourself – view how Tesco Bank fairs against other providers on our comprehensive comparison.

Tesco Travel Money Review:

Tesco PLC is a British-headquartered international supermarket chain with more than 6,500 stores worldwide, employing almost 500,000 people. It is consistently considered in the top 50 British companies in terms of market capitalisation. Tesco Bank is a relatively small part of the business, among other things the company does besides supermarket – convenience stores, tech support, telecom services, petrol stations.

The advantages of using Tesco are as follows:

• Clients have a total of 50 currencies to choose from, including US Dollars and Euros.
• Free click-and-collect service from more than 300 in-store bureaux transaction points, as well as select Customer Service Desks.
• Online exchange rate platform available to check live-rates for all currencies that are on offer.
• Zero percent commission charged on all foreign currency.
• It’s available with Travellers Cheques that can be obtained from their in-store Travel Money bureaux.

Disadvantages:

• There’s a currency conversion charge if you make purchases in a denomination different from that which is loaded on your card.

Tesco Bank Travel Money – How Does It Work?

Planning your dream vacation? Alongside your flight bookings and luggage preparations, it’s essential to ensure your travel money arrangements are in order.

If you prefer having cash in hand while abroad, one convenient option for acquiring foreign currency is through Tesco Bank Travel Money. But what exactly is it, and how does it work? Let’s delve into the details, covering the process of ordering, collection and delivery options, fees, exchange rates, and more.

Additionally, we’ll explore an alternative that not only streamlines your travel expenses but also potentially saves you money – the Wise card . It’s an international debit card designed for spending and cash withdrawals in over 150 countries, boasting favourable exchange rates and eliminating the need to carry cash around, leaving extra room in your luggage.

But first, let’s focus on understanding Tesco Bank Travel Money.

What is Tesco Bank Travel Money and How Does it Operate?

Tesco Travel Money is a service that allows you to purchase foreign currency, either online or at a physical Tesco store. This flexibility enables you to either pre-order your currency or buy it on the spot at your local Tesco supermarket, provided they have a travel money bureau in-store.

Tesco Bank boasts a wide range of readily available foreign currencies for purchase, including popular options like EUR and USD. However, if the currency you require isn’t in stock, they can place an order for you.

Here are the key features offered by this service:

• Price Match : If you come across a better exchange rate advertised within three miles of your local Tesco Travel Money Bureau on the same day, Tesco Bank will match it. This applies exclusively to in-store, like-for-like transactions and not to rates advertised online.
• Clubcard Prices : Tesco Clubcard holders can benefit from improved exchange rates by providing a valid Clubcard number. This perk is available only for online currency purchases.
• Buy Back Service : If you have any unused foreign currency remaining after your trip, you can exchange it back to Tesco Bank for pounds.
• 10% Discount on Tesco Bank Travel Insurance : When you purchase Tesco Travel Money, you can enjoy a 10% discount on Tesco Bank travel insurance.

It’s worth noting that Tesco Travel Money received the ‘Best Travel Money Provider’ award in the Personal Finance Awards 2022/23, a recognition bestowed by the public. This foreign currency exchange service is powered by Travelex.

Fees and Exchange Rates

Now, let’s explore the cost associated with using Tesco Bank Travel Money. The good news is that there’s no commission fee when ordering currency in a Tesco store or opting for Click and Collect services.

However, for certain orders requiring home delivery, there are delivery fees to consider. Here are the main charges you should be aware of:

• Online foreign currency orders between £75 and £149.99: £4.99 delivery fee.
• Online foreign currency orders between £150 and £499.99: £3.95 delivery fee.
• Online foreign currency orders over £500: Free.
• Late cancellation of Click & Collect order (less than 24 hours before the collection date): £10 late cancellation fee.

It’s essential to keep in mind that additional charges might apply if you use a credit card to pay for your Tesco Travel Money order. While Tesco Bank won’t charge you, your credit card provider is likely to impose fees for cash-related transactions, which often include foreign currency purchases.

Tesco Travel Money Exchange Rates

Tesco Bank Travel Money, like many other foreign currency providers, incorporates its margin into the mid-market exchange rate. Also known as the interbank rate, this is the rate used by banks for inter-currency transactions, considered one of the fairest exchange rates. However, it’s rarely available through most providers, except for a few like Wise.

By adding its margin to the rate, Tesco Bank generates revenue from the transaction. Unfortunately, this means you’ll receive slightly less foreign currency in exchange for your pounds. Nevertheless, Tesco Bank offers slightly improved rates for Tesco Clubcard holders when they order online.

The exchange rates provided by Tesco Bank are transparent and can be checked in real time on their website.

Do Tesco Clubcard Holders Get Better Exchange Rates?

If you’re a Tesco Clubcard holder considering using Tesco Bank Travel Money, you might be wondering if this loyalty program can help you secure more favourable exchange rates.

The Clubcard Price offered by Tesco Bank Travel Money is designed to provide you with better rates compared to the standard ones advertised online at the time of purchase . This exclusive perk is accessible when you make your currency purchases online. To benefit from the Clubcard Price, you’ll need to input a valid Clubcard number during the transaction.

It’s important to note that exchange rates can fluctuate depending on the method you choose for purchasing your foreign currency. Whether you opt to buy in-store, online, or by phone, these rates may vary.

How to Order Travel Money from Tesco – A 9-step Guide

If you’re interested in obtaining travel money from Tesco, here’s a step-by-step guide for placing an online order:

• Visit the Tesco Bank Travel Money website.
• Choose your desired currency from the dropdown menu on the right-hand side.
• Indicate whether you possess a Tesco Clubcard. If you do, you’ll benefit from enhanced exchange rates.
• Select the amount you wish to order, either by choosing from the predefined options or entering a specific amount.
• Review the exchange rate and the amount of currency you’ll receive in exchange for your pounds.
• Click on ‘Buy Currency Online’
• Follow the on-screen instructions to place your order, including entering your Clubcard number (if applicable) and payment details. Note that online orders are payable by card only.
• Select either Home Delivery or Click & Collect, making the required delivery fee payment if applicable.
• Await the arrival of your travel money through postal delivery or head to your local Tesco Bank bureau on your chosen collection date to pick up your order.

The Collection and Delivery Process

If you opt for Click & Collect, you can conveniently locate your nearest Tesco store with a foreign exchange bureau by entering your postcode. You’ll receive a specified collection date, and your money will be ready for collection after 3 PM on that date. Don’t forget to bring photo ID and the card used for placing the order to verify your identity.

For home delivery orders, here’s what you can expect in terms of delivery times:

• Orders placed before 1:30 PM from Monday to Thursday: Next day delivery.
• Orders placed before 1:30 PM on Friday: Delivery on Saturday or Monday.
• Orders placed after 1:30 PM from Monday to Friday, or anytime on Saturday or Sunday: Delivery within 2 working days.

Remember that someone must be present to sign for the delivery of travel money orders.

The Tesco Multi-currency Cash Passport

Tesco Bank offers an interesting alternative known as the Tesco Multi-currency Cash Passport. This prepaid travel money card allows you to load up to seven different currencies before your trip, enabling spending abroad just like you would with a regular debit card in the UK. The added benefit is the ability to lock in the exchange rate every time you load, reload, or switch between currencies.

However, there are a few considerations to keep in mind. The available currencies are limited to euros, US dollars, UK pounds, South African rands, Australian dollars, Canadian dollars, and New Zealand dollars. There are fees involved as well, including a £1.50 withdrawal fee at ATMs or a 2% commission on purchases made in UK Pounds.

The Wise Card – A Convenient Alternative to Currency Exchange

While Tesco Bank Travel Money provides a reliable option for obtaining foreign currency, it’s not the sole solution for managing your holiday expenses.

If you’re seeking more favourable exchange rates and a cashless approach, the Wise card is an attractive choice. This contactless international debit card can be used in over 150 countries, wherever Mastercard and Visa are accepted. This grants you the ability to make purchases in shops, restaurants, bars, and transport hubs worldwide.

When you use the Wise card, it automatically converts your pounds to the local currency at the mid-market exchange rate, with no additional margins or markups. There is only a modest currency conversion fee, or none at all if you already have the currency in your Wise account.

For cash needs, the Wise card allows you to withdraw up to £200 per month with no fees (up to two withdrawals). However, be mindful that overseas ATM operators may charge their own fees.

With the Wise card, you can enjoy the convenience of tapping and spending like a local, all while benefiting from a favourable exchange rate. Additionally, the Wise app allows you to manage your account, card, and expenses on the go.

By opening a Wise multi-currency account online, you can obtain a Wise card for a one-time cost of just £7, without any subscription fees. Be sure to review the Terms of Use for your region or check Wise fees and pricing for the most up-to-date information on costs and fees.

And there you have it – a comprehensive overview of Tesco Bank Travel Money and its operations, plus a cashless alternative for digital fans. If you prefer having foreign currency in hand before your trip, then Tesco Travel Money is certainly worth considering, particularly due to its lack of commission fees. Alternatively, you can conveniently visit your local Tesco store with a foreign exchange bureau to obtain your travel money instantly.

Remember, it’s advisable to conduct a quick comparison of exchange rates, as you may find more favourable options for obtaining foreign currency elsewhere but Tesco Travel Money solidifies its reputation with one of the more attractive offerings for travellers.

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Tesco, Asda or Sainsbury's? Which has the best travel money exchange rates

This is which supermarket offers the best Euro and US Dollar currency exchange rates

• 14:16, 3 JAN 2020

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It may only be January, but it's never too early to be thinking about your next holiday.

In fact, now is just the perfect time to snap up some cheap travel deals and book your next getaway.

And if your purse is feeling a bit empty after Christmas , it's a good idea to look around and see which exchange rates will get you the most for your money.

Tesco , Asda and Sainsbury's all offer travel money but their exchange rates vary. Sainsbury's offers the best deal for Euros, while Asda offers the best deal for US Dollars.

Below is a full list of their exchange rates and how they compare.

Foreign travel advice

Sainsbury's

Euro - 1.1534

US Dollar - 1.2862

For full Sainsbury's exchange rates click here .

Euro - 1.1488

US Dollar - 1.2879

Asda also has an Exchange Rate Guarantee, which promises that if you find a better exchange rate within five miles of one of their travel money bureaus, they'll beat it.

More information on travel money from Asda here .

Euro - Euro 1.1187, or 1.1231 with Clubcard

US Dollar - 1.2622, or 1.2671 with Clubcard

Click here for more Tesco travel money information.

*These exchange rates were accurate at the time of publication.

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John hancock travel insurance review 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.

John Hancock Travel Insurance Overview

John Hancock Travel Insurance is a long-standing and well-regarded insurer. The company has been around for more than a century since it was founded in 1862.

We'll cover the travel insurance policies John Hancock offers, coverage options and limits, and the premiums you can expect to pay. We'll also compare John Hancock with other leading travel insurance providers to help you better understand the similarities and differences.

Regardless of your timeline, destination, or itinerary, it's essential to consider the effects that an unexpected event could bring during your planned trip. Insurance could be a wise investment if you face travel-related expenses like medical costs, emergency evacuations, trip delays, etc.

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers 3 travel insurance plans
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Cancel for any reason rider available
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Affordable travel insurance premiums
• con icon Two crossed lines that form an 'X'. Reviews of claims process are mixed
• con icon Two crossed lines that form an 'X'. Buyers may not get specialty coverage for sports equipment and other high value items
• Trip cancellation for 100% of the trip cost
• Trip interruption insurance for up to 150% of the trip cost
• Emergency medical coverage of up to $250,000 per person
• Medical evacuation coverage of up to $1,000,000

John Hancock Travel Insurance Coverage

John Hancock Travel Insurance keeps it simple by offering three plans: Bronze, Silver, and Gold. Each provides different coverage limits; your premiums depend on your personal details and trip specifics.

Here's a look at the coverage limits you'll get with each plan:

John Hancock Travel Insurance Bronze Plan

The Bronze coverage plan from John Hancock offers a comprehensive suite of benefits to ensure peace of mind during your travels. It covers 100% of your trip cost for cancellations and extends to 125% for trip interruptions, ensuring you're compensated beyond just the money you've spent. In cases of medical emergencies, you're covered up to $50K with primary coverage, and for more severe situations necessitating medical evacuation or repatriation, the coverage increases significantly to $250K. Travel delays are also considered, offering $500 for delays over 6 hours, calculated at a rate of $150 daily.

For baggage inconveniences, the plan covers $250 for delays exceeding 12 hours, and for baggage or personal item loss, you're covered up to $750 per person, with a per-item limit of $250 and a specific item limit of $750. Missed connections haven't been overlooked either, with a $200 coverage for delays over 3 hours. Finally, the plan provides a safety net of $25K for 24-hour accidental death and dismemberment, ensuring a comprehensive range of protections to address a variety of travel-related contingencies.

John Hancock Travel Insurance Silver Plan

The Silver coverage plan from John Hancock provides an enhanced level of protection for travelers seeking extra security. It ensures 100% reimbursement of your trip cost if you need to cancel, and for trip interruptions, it generously offers 150% coverage, going above and beyond to cover unexpected additional costs. Medical emergencies are comprehensively covered with $100K in primary coverage, and in the dire event of needing medical evacuation or repatriation, you are safeguarded with an ample $500K coverage. Travel delays are mitigated with $750 coverage for delays over 3 hours, maintaining a daily cap of $150.

For baggage delays, the plan provides a substantial $500 for delays exceeding 12 hours, and in the unfortunate event of baggage or personal item loss, you are covered up to $1,000 per person, with a per-item limit of $250 and a specific item limit of $1,000, ensuring your belongings are well-protected. Missed connections due to delays over 3 hours are also taken into account, with a $750 coverage to alleviate the inconvenience. Lastly, the plan includes a significant $100K coverage for 24-hour accidental death and dismemberment, offering a comprehensive safety net for a wide array of travel uncertainties.

John Hancock Travel Insurance Gold Plan

The Gold coverage plan from John Hancock Travel Insurance represents the pinnacle of travel protection, offering a luxurious safety blanket for those who desire the utmost in security and comfort. It guarantees 100% of your trip cost back for cancellations and escalates to an impressive 150% for interruptions, ensuring that unexpected changes are more than just compensated. Medical concerns are given top priority with a robust $250K in primary coverage for emergencies, and for critical situations that require medical evacuation or repatriation, a substantial $1M coverage is in place.

The plan takes care of travel delays with a generous $1,000 for inconveniences over 3 hours, at a rate of $200 daily. Baggage delays are addressed with a $500 compensation for waits over 12 hours, ensuring your immediate needs are met. Furthermore, for baggage or personal item loss, the plan provides an extensive coverage of $2,500 per person, with a per-item limit of $250 and a specific item limit of $2,500, offering significant protection for your belongings. Missed connections due to delays over 3 hours are also covered, with a notable $1K to help mitigate the inconvenience. Lastly, for ultimate peace of mind, the plan includes $100K coverage for 24-hour accidental death and dismemberment, making the Gold plan a comprehensive choice for those seeking premium protection in their travel insurance.

Additional Coverage Options from John Hancock (Riders)

Like many other travel insurance providers, John Hancock offers a few add-ons. These include:

• Rental-car collision coverage
• Cancel for any reason (CFAR) travel insurance coverage
• Accidental death & dismemberment (for air travel only)

These add-ons can be purchased simultaneously, as your policy for an additional cost. And the coverage amounts may vary depending on the policy purchased.

John Hancock Travel Insurance Cost

Pricing structure.

The most important thing to remember is that the cost of your policy will depend primarily on your age and the cost of your trip. So premiums can vary widely.

That said, the industry averages for travel insurance range from 4% to 8% of overall trip costs, which is a good benchmark to have in mind.

And luckily, getting a quote from John Hancock is simple. Go to its website and enter the required information about the traveler and trip. You'll be required to provide information including:

• Your state of residence
• Destination
• Travel dates
• The cost of your trip

We pulled a few quotes as examples to sample how much a policy from John Hancock might cost.

We'll first look at the coverage options for a 30-year-old Kansas resident taking a two-week trip to Thailand and spending $3,000.

With premiums ranging from $111 to $160, this traveler will pay around 4% to 5% of their trip cost for coverage. This is on the lower end of the industry averages primarily due to the traveler's age.

The next example is of the premiums for a 55-year-old Maryland resident traveling to the UK for two weeks. The trip cost is set at $6,000.

The premiums range from $305 to $451, representing 5% to 7.5% of the total trip cost, depending on your coverage level. Again, in line with industry averages.

Finally, we compared the costs for the three different John Hancock plans for a 40-year-old resident of Oregon spending $8,000 on a trip to South Africa.

In this example, the premiums range from $422 to $545. These may seem high, but they are still within 5% to 7% of the total cost of the trip.

As you can see, the coverage cost depends mainly on the traveler's age and the total cost of the trip. That said, all of these quotes align with the average cost of travel insurance , which is between 4% and 8% of total trip costs.

Tips for Saving Money on Your John Hancock Travel Insurance Policy

Saving money on your travel insurance policy without compromising coverage is crucial for many travelers. Here are some tips to help you save money on your John Hancock Travel Insurance policy:

• Early Purchase Benefits : Buying your travel insurance shortly after booking your trip can often unlock benefits or discounts. Some policies offer early purchase advantages, such as waiving pre-existing condition exclusions or providing additional coverage options.
• Choose the Right Plan : John Hancock offers different levels of coverage (Bronze, Silver, and Gold). Assess your travel needs carefully and choose a plan that covers your essentials without paying for unnecessary extras. For instance, if you're not bringing valuable items, you might opt for a plan with less baggage coverage.
• Leverage Group Discounts : If you're traveling with family or a group, inquire about group discounts. Purchasing a single policy for multiple travelers can often be more cost-effective than individual policies.
• Review the Medical Coverage : If you already have health insurance that covers international travel, you might not need a travel insurance plan with extensive medical coverage. Check the details of your existing health plan to avoid overlapping coverage.
• Understand the Policy Thoroughly : Be clear about what's covered and what's not. This understanding can prevent you from incurring additional costs for activities or scenarios that your policy doesn't cover. For instance, some policies might not cover adventure sports unless you purchase additional coverage.
• Consider a Multi-Trip Policy : If you travel several times a year, consider purchasing an annual or multi-trip policy instead of separate policies for each trip. This can often be more cost-effective and saves you the hassle of buying insurance multiple times a year.
• Check for Loyalty Discounts : If you've used John Hancock or a partner company before, check if they offer loyalty discounts or rewards. Some companies offer discounts or perks for returning customers.
• Deductibles : Some policies offer a reduced premium if you agree to a higher deductible. If you're willing to pay more out-of-pocket in the event of a claim, this can lower your upfront costs.
• Shop Around : Travel insurance aggregators like SquareMouth will let you compare policies from multiple providers at ones, allowing you to better find the policy that matches your coverage needs at the right pricepoint.

Making a Claim with John Hancock Travel Insurance

If you need to file a claim, you can start by visiting the company's claims website . The claims department can also be reached by phone at 855-422-6462 or by email at [email protected].

Any documentation you might need to include with your claim can be emailed to the email address above or mailed to:

Claim Benefit Services P.O. Box 459084 Sunrise, Florida 33345

Navigating the claims process with John Hancock Travel Insurance can be straightforward if you understand the steps involved and what is expected. Here's a guide to help you navigate the claims process efficiently:

• Immediate Notification : As soon as you encounter an issue that may lead to a claim (such as a medical emergency, trip cancellation, or baggage loss), it's crucial to contact John Hancock immediately. This can often be done through their 24/7 assistance line. Early notification can expedite the claims process and ensure you receive guidance on the necessary steps.
• Understand Your Policy : Before you make a claim, review your policy details to understand what is covered and the documentation required. Knowing your policy benefits and limitations can streamline the process and set clear expectations.
• Collect Documentation : Gathering all necessary documentation is a critical step. Depending on the nature of your claim, this may include medical reports, police reports, receipts, proof of travel or accommodation bookings, and any correspondence related to your claim (such as emails with airlines regarding lost luggage).
• Complete the Claims Form : You will need to complete a claims form, providing detailed information about your trip, the incident, and the loss or expenses incurred. Be as accurate and comprehensive as possible to avoid delays. The form should be available on the John Hancock website or upon request.
• Submit Your Claim : Once you have completed the claims form and gathered all necessary documentation, submit your claim as per the instructions provided by John Hancock. This can often be done via email, post, or an online portal.
• Claim Assessment : After your claim is submitted, it will be reviewed by a claims assessor. This process may involve additional questions or requests for further information. Prompt and complete responses can help expedite this stage.
• Claim Decision : Once your claim has been fully assessed, you will be notified of the decision. If your claim is approved, you will be informed about the compensation amount and when to expect payment. If your claim is denied, you should receive an explanation, and you may have the option to appeal the decision if you believe it was made in error.
• Receiving Payment : If your claim is approved, the payment will be processed according to the terms of your policy. The time frame for receiving payment can vary, so it's important to have realistic expectations and keep in touch with John Hancock if there are any delays.
• Post-Claim Support : If you have questions or concerns after your claim is settled, John Hancock's customer support can provide assistance and clarify any doubts.

John Hancock Travel Insurance vs. Nationwide Travel Insurance

Nationwide and John Hancock travel insurance are well-recognized names in the insurance industry. And each makes it easy to find coverage by offering just two or three single-trip policies.

With Nationwide, you can choose between the Essential and Prime plans.

Nationwide's Essential Plan comes with the following:

• Trip cancellation coverage of up to $10,000
• Up to $250,000 in emergency medical evacuation
• Up to $150 per day ($600 maximum) reimbursement for travel delays of 6+ hours
• Coverage for delayed or lost baggage

In comparison, John Hancock's Silver plan comes with 100% of the trip cost in trip cancellation coverage, $500,000 in emergency medical evacuation coverage, up to $150 per day ($750 maximum) reimbursement for travel delays of 3+ hours, and baggage insurance.

As you can see, the policy from John Hancock offers superior coverage. But let's also compare their top-tier plans.

Nationwide travel insurance's Prime Plan, which provides even more coverage, including:

• Trip cancellations up to $30,000
• Trip interruption coverage up to 200% of the trip cost (maximum of $60,000)
• $250 per day for trip delays of 6+ hours
• Up to $1 million for emergency medical evacuation

John Hancock's top-tier Gold plan offers 100% of the trip cost in trip cancellation coverage, 150% of the trip cost in trip interruption coverage, $1 million in emergency medical evacuation coverage, up to $200 per day ($1,000 maximum) reimbursement for travel delays of 3+ hours.

When comparing these two policies, it's a little more difficult to declare one the clear winner as many of the coverage limits are similar.

The best thing to do when looking for coverage is to compare premiums to determine which policy and provider is right for you.

Nationwide Travel Insurance Review

John Hancock Travel Insurance vs. AIG Travel Guard

John Hancock travel insurance and AIG Travel Guard offer three primary travel insurance plans. And with each plan, you'll find different coverage limits and various types of protection.

To compare these two providers, we'll look at the mid-tier options from each company.

With AIG Travel Guard Preferred plan, you'll get the following:

• Trip cancellation coverage of up to $150,000
• Trip interruption coverage up to $225,000
• Emergency medical coverage of up to $50,000
• Coverage for baggage loss, theft, or damage up to $1,000
• Travel delay coverage of up to $800

Now we can compare that to John Hancock's Silver Plan, which offers reimbursement of 100% of the trip cost in trip cancellation coverage, trip interruption coverage of 150% of the trip cost, $100,000 in emergency medical coverage, baggage coverage for up to $1,000, and travel delay coverage of up to $750.

You can see that the policies are pretty similar in their coverage limits. But remember that several factors will determine the actual premiums for these travel insurance policies. So we recommend getting a personalized quote before deciding which provider and policy is best for you.

AIG Travel Insurance Review

John Hancock Travel Insurance vs. Credit Card Travel Insurance

If you hold a travel credit card, consider what coverages it might offer. Some insurance, like rental-car collision coverage, may be available through a card you have. That may be sufficient, depending on the trip you're taking.

For example, if you're renting a car to take a road trip and don't have a lot of pre-paid, non-refundable expenses associated with your trip, the coverage offered through your travel rewards credit card may suffice. But if you're also looking for medical coverage and don't already have a policy that covers you while traveling, purchasing travel insurance is the way to go.

In addition, credit card coverage is usually secondary. That means you'll have to file a claim with any other applicable insurance (like the airline travel provider) before filing one with your credit card company.

How We Reviewed John Hancock Travel Insurance

To comprehensively review John Hancock travel insurance's insurance offerings, we compared their travel plans to those of the best travel insurance companies . We took multiple things into account when deciding, such as coverage options, claim limits, what the policy includes, available add-ons, and typical insurance policy costs. The policy that would work best for you is the one that provides the right amount and type of coverage while also being affordable and easy to use if any issues occur.

John Hancock Travel Insurance offers a range of coverage options including trip cancellation, trip interruption, medical emergencies, baggage loss or delay, and emergency evacuation. Specific coverage details can vary based on the plan (Bronze, Silver, or Gold) you select.

Yes, John Hancock Travel Insurance provides coverage for pre-existing conditions under certain conditions. It's important to review the specifics of the policy and the "look-back" period to ensure your pre-existing condition is covered.

John Hancock has a straightforward claims process. In the event of a claim, you are required to provide documentation supporting your claim (such as medical records, receipts, or police reports). Reimbursements are typically processed after the claim is reviewed and approved.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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Money blog: Smoke machines deployed in Tesco; big inflation moment forecast

The Money blog brings you personal finance and consumer news, plus all the latest on the economy. Let us know your thoughts on any of the stories we're covering in the comments box below.

Tuesday 18 June 2024 21:05, UK

• Big inflation moment forecast
• Fury as tickets for rock band halved due to poor sales - after many had already paid hundreds
• Smoke machines deployed in Tesco to fight break-ins
• London overtakes Paris to become Europe's largest stock exchange

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• Women in Business : 'How I went from mum with no qualifications to owner of big law firm'
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By James Sillars , business reporter

We're entering what could be the most crucial 48 hours of the election campaign for the economy.

There are two closely watched events ahead: the inflation figures for May (released early on Wednesday), followed the next day by the Bank of England's last interest rate decision before polling day.

The latter hinges on the former, in terms of potential excitement.

The consensus view is that the rate of inflation will ease back to the Bank of England's target of 2% for the first time since spring 2021.

That should be enough for the Bank of England to act the following day, you may well think. Job done?

Borrowers across the country are crying out for a rate cut after several false dawns in the fixed-rate mortgage market since we first really started talking about the prospects for rate cuts at the start of the year.

A reduction from 5.25% to 5% by the independent central bank would also be welcome for the Conservatives.

But here's where, from the view of economists and financial markets, the fairy tale for voters and the government hangs in the balance.

Even if the inflation rate hits the Bank of England's target this week, just 9% of the market currently expects the Bank of England to cut on Thursday.

That figure could change if the inflation number comes in lower than expected but the prediction is based on the future path for inflation rather than the present number.

Bank policymakers have repeatedly voiced worries over indicators showing a pick-up in the pace of price increases during the second half of the year.

They are concerned too that wage growth, running stubbornly at 6% annually at the moment, risks stoking demand in the economy and therefore inflation further.

Without these factors falling out of consideration, the majority on the rate-setting committee will likely continue to say it's too early to release the chokehold on inflation.

There is also a school of thought that the Bank would be reluctant to act during an election campaign.

So, these two events ahead are unlikely to rock the boat politically, or light up your finances to the extent the Bank of England has seen enough to fire the starting gun.

There is certainly the chance of a surprise on Thursday but it would take a pretty big shift for that pistol to light up the race for Number 10.

Doctors are calling for the drink-drive limit to be reduced to the equivalent of a small glass of wine or beer.

The limit in England, Wales and Northern Ireland is the highest in Europe at 80mg of  alcohol  per 100ml of blood. In Scotland it is 50mg.

The British Medical Foundation, the trade union for doctors, has said it will lobby the next government to reduce the limit to 50mg - and 20mg for new and commercial drivers.

Read the full story here ...

Grocery inflation has eased for the 16th month in a row, according to industry data released ahead of the general election.

Kantar Worldpanel - which tracks supermarket till prices, sales and market share - said its measure of grocery inflation slowed to 2.1% in the four weeks to 9 June from 2.4% the previous month.

The UK had the lowest rates of business investment out of all G7 nations for a third year in a row, a new report has claimed.

The economies of the US, Canada, France, Germany, Italy and Japan are all said to have attracted higher levels of funding from the private sector - as a percentage of gross domestic product (GDP) - in 2022.

The Institute for Public Policy Research (IPPR), which carried out the research, said the ranking was important because investment in things like new factories, equipment and innovations helped boost economic activity, wages and household incomes.

Read the full story  here ...

House buyers or renters should be familiar with being handed an Energy Performance Certificate (EPC) when surveying a property. 

In theory, they offer insight as to how efficient a building is - except consumer champion Which? doesn't think so.

Its experts argue that the certificates are "unreliable" and that the next government urgently needs to reform the system. 

It may not seem like the end of the world - but access to grant funding, or green financial products such as loans or mortgages, is often available only to those who meet certain EPC-based criteria.

Additionally, a better EPC can make a big difference for owners, as it allows them to command a higher price if they choose to sell and may make the home more attractive to tenants.  

The consumer magazine selected homeowners and booked EPC assessments on their behalf. 

"Which? uncovered issues with the accuracy of the results and the recommendations that homeowners received," it said. 

"Most participants (eight out of 11) told Which? their EPC did not appear to be accurate - they said the descriptions of key aspects of their home like the windows, roofs and heating systems were incorrect."

An electric vehicle company looking to rival Tesla has filed for bankruptcy amid a wider sales slump in the industry. 

Fisker filed a bankruptcy petition in Delaware yesterday after after failing to secure investment, announcing weaker-than-expected earnings and plans to cut 15% of its workforce.

The company, started by James Bond car designer Henrik Fisker, announced plans in March to cut prices by as much as 39%, while its share price has plummeted by 99% in recent days.

This comes as electric vehicle sales in the US and Europe continue to drop. 

Smoke machines are the latest gadgets being introduced into supermarket shops to fight crime.

Tesco has deployed them in some stores to stop thieves breaking in after-hours, Sky News understands.

The 4ft security machines - arranged on the shop floor after closing -  fill the room with a dense fog if motion detectors are tripped.

"Warning: You're being watched. Smoke screen security fog in operation," reads a message on the front of the device, which is fitted with a CCTV camera.

Sky News understands the unit pictured above was not plugged in and has been removed after being mistakenly left out during opening times.

While the deterrent has been rolled out in some high-risk branches, they are not part of a universal policy.

A customer who saw the device said: "The size and visibility of the machine, along with the prominent camera, and the pair of eyes and 'We're watching you' decals, highlight its use as yet another part of the culture of fear visited on the most vulnerable in our society during this cost of living crisis."

Tesco has declined to comment.

Basically... it's a little "what it says on the tin", but an interest-only mortgage is an agreement where you pay only the interest owed on your loan each month.

Popular in the 1980s and 90s, and peaking just before the 2008 financial crisis, interest-only mortgages benefit those who are trying to keep their monthly payments down in the short term.

How does an interest-only mortgage work?

You only pay off the interest on the amount you borrow - not the loan itself.

This differs from more common repayment mortgages which see you pay off the interest and some of the capital on your home each month, eventually leading to the mortgage being paid off at the end of the term.

With interest-only, you'll have to pay off the total amount borrowed in full at the end of your mortgage term using savings, investments or other assets.

You can also find temporary arrangements if you are struggling financially.

Example:  You're looking at a house which requires you to borrow £100,000 over 25 years with a fixed interest rate of 3.5%.

Imagining this interest rate stays the same for the whole term, on a repayment mortgage plan your monthly cost would be  £501 , while on interest-only it would be significantly lower at  £292 .

The interest-only option is great for those who want to keep their outgoings in check - but it does mean that, as the capital isn't being paid down, the amount of interest ends up being higher than on the full repayment plan.

Therefore someone on an interest-only deal would owe  £187,579  (£87,579 interest plus £100,000 loan capital outstanding), while a repayment deal would see them pay back  £150,238  (£100,000 loan capital fully paid off plus £50,238 interest).

How easy are they to come by? 

As we touched on earlier, prior to the 2008 financial crisis interest-only mortgages were much easier to get hold of - some 40% of all mortgages taken out were interest-only around this time.

But the crash revealed that many loans were at risk with customers who would struggle to pay off the full loan later down the line.

Affordability criteria were introduced as a result, which caused their popularity to sharply decline. It's now quite difficult to borrow on an interest-only basis, with not all lenders offering them as an option.

Those that do will have strict terms, such as a high deposit and an approved plan to pay the loan back at the end of the term.

Research by the Financial Conduct Authority in August last year revealed that the number of interest-only and part-interest-only mortgages had halved since 2015.

What are the benefits? 

The biggie with interest-only mortgages is the reduced monthly payments, which can provide you with a financial safety net if you go through times when you're earning less.

There's also a chance that if you're in your property for a long time, you could sell it for more than you paid for it, meaning you've built up equity to help you pay off the lump sump.

What about the downsides?

You're not paying off any of the loan as you go, meaning you're not building up that equity that you would do with a repayment mortgage. You'll also end up paying more interest due to not making a dent in the capital.

Interest-only also means you need a solid plan for paying it off at the end of the term - this may include constant monitoring of investments and being strict with yourself to ensure you're putting money aside. With a repayment plan you don't need to think about this element.

Read other entries in our Basically series...

An invitation-only "Diamond" Deliveroo subscription has launched, offering priority delivery, dedicated customer care teams and access to restaurants unavailable to other consumers.

For £19.99 per month, users get 10% credit back on orders of £30 or more and an on-time promise - meaning if an order arrives more than 15 minutes late, customers get their money back.

Only the very top users of the app will be invited to subscribe - with members estimated to spend three times as much as regular customers and twice as likely to try a restaurant that was new to the platform.

"The enhanced loyalty programme will play an important role in driving growth for Deliveroo," the company said.

A London fish and chip shop has been named in the top 100 best cheap eats in Europe.

The Mayfair Chippy comes in at 87 in the respected  Opinionated About Dining list - which is widely shared by top chefs and which draws conclusions based on tens of thousands of reviews from foodies.

As far as chippies go, Mayfair isn't actually that cheap - a cod and chips will set you back over £19...

The top UK entry is bakery Fabrique at 25 - and most things in its central London branches cost less than a fiver.

Pollen Bakery in Manchester, where you can easily eat for less than £10, is at 54 - with St John's Bakery (Neals Yard), in London, famous for its donuts, is at 57.

Jolene bakery in Newington Green, London, which has a daily changing menu, is at 59 - ahead of ramen joint Kanada-Ya, which has branches in Angel, Soho and Covent Garden.

Lots of other London eateries make the lower end of the top 100 - which is topped by Oslo coffee bar Tim Wendelboe.

What's your favourite cheap eat across the UK? Tell us in the comments box and we may follow this up later

By Daniel Binns, business reporter

The stock market in London has crept up slightly this morning as investors wait for tomorrow's inflation data - followed by Thursday's interest rate decision by the Bank of England.

The figures will be the last major economic indicators to be released ahead of July's general election.

Commentators expect inflation to fall to the Bank's target of 2% on Wednesday, according to a poll of economists by Reuters.

While an interest rate cut is not expected this week, the forecast drop in inflation will help pave the way for a rate cut in August, experts say.

Fiona Cincotta, a senior market analyst at City Index, said investors were keenly waiting for tomorrow's data - but said there was a "sense of optimism".

Overall, the FTSE 100 is up almost 0.4% this morning, while the FTSE 250 has increased by just over 0.5%.

Among the top gainers is Whitbread, which owns brands such as Premier Inn. The hospitality firm is up nearly 4% after reporting its results for the first quarter.

Whitbread said sales rose 1% to £739m and that its performance was in line with expectations.

At the other end of the scale, industrial equipment rental company Ashtead Group has slipped nearly 4% after the firm downgraded its growth forecast.

On the currency markets, £1 buys $1.27 US or €1.18, similar to Monday.

The cost of oil is up this morning, with a barrel of Brent Crude priced at almost $84 (£66).

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