With summer fast approaching and Brits booking their holiday’s, Martin Lewis has issued advice on what to be aware of before jetting off. Speaking on his ITV show, the Money Saving Expert founder revealed his top tips and tricks for saving money, as well as precautions to take before flying.
Starting off before the trip even begins, Martin advised Brits to look at a UK travel cash comparison website to see where the best place is to exchange your pounds. One key piece of advice the finance expert urged travellers to be mindful of is to never get cash out at the airport. He said this is where you will get the worst deal rate for your money. For those who are waiting until they’re abroad to get cash out, Martin said to only visit an overseas bureau de change if you know the exchange rate is good.
While on holiday and paying with a card, many of us question whether to pay in pounds or the local currency. However, the money-saving guru put the debate to bed, adamantly saying to always pay using the local currency due to the “hideous rates abroad”.
“If you pay, and you pay in pounds, it’s the card machine or the ATM that’s doing the conversion and their rates are pants,” the expert exclaimed.
Despite card machines luring Brits into paying in pounds, Martin urged them to resist this. He explained: “The reason they’re trying to force you and be so aggressive is because it makes them more money. It doesn’t save you money.”
If your holiday happens to be delayed or, in some cases, cancelled altogether, the founder of MoneySavingExpert says it’s important to be aware of your compensation rights. Issues with services are often the fault of the airline, which could result in money going back into your pocket.
Another key tip Martin emphasised was to check your passport is in date before embarking on your journey.
As well as passport expiry dates, the expert said 1.8 million European Health Insurance Cards (EHIC) are due to expire this year, urging those looking to continue with health insurance abroad to apply for a Global Health Insurance Card (GHIC) instead.
Holding one of these cards allows Brits to access health services abroad for the same price as local residents. “You can renew for free,” the expert said, however, he warned that “you must never pay for your EHIC or GHIC card”.
The expert emphasised fraudulent websites attempting to sell a fast-tracked service, yet to avoid falling victim to this.
