Buying foreign currency for the first time can feel overwhelming. How much should you take? Where is the best place to buy? Should you use cash at all, or rely on a travel card? The answers depend on where you are going and how you like to spend, but there are some universal principles that will save you money and hassle no matter the destination.
How Much Cash Should You Carry?
A good starting point is to budget your daily spend (meals, transport, activities) and multiply by the number of days you will be away. For European cities, €50-80 per day is a reasonable baseline for moderate spending. You do not need to carry everything in cash — most places accept cards — but having local currency for markets, small cafes, taxis, and tips avoids the frustration of being caught short. A useful split is roughly 60% on a travel-friendly debit card and 40% in cash. You can order your travel money online and have it delivered before you leave, so there is no last-minute scramble.
Choosing the Right Denominations
Ask for a mix of notes. If you are buying euros, a combination of €50, €20, and €10 notes works well. Avoid getting it all in large denominations — many smaller shops and taxi drivers cannot break a €100 or €200 note, especially early in the day. If you are heading somewhere with a lower cost of living (Southeast Asia, parts of South America), even more emphasis on smaller notes makes sense. When you order from Covent Garden FX, you can request specific denominations and we will do our best to accommodate.
Where to Buy — and Where Not To
The worst place to buy currency is at the airport. Rates are significantly worse because the bureaux there know you have no alternative. High street banks are better but still mark up noticeably. Specialist currency providers, whether online or in dedicated shops, generally offer the most competitive rates. Check our exchange rates page to compare — we show you exactly what you will receive with no hidden margins. When comparing providers, always look at the total amount of foreign currency you receive for your pounds, not just the quoted rate. Some providers advertise attractive rates but add commission or delivery fees.
What to Do with Leftover Currency
It is common to come home with unused notes. Rather than leaving them in a drawer, you can sell your leftover currency back to an exchange provider. The buyback rate will be lower than the selling rate (this is how providers make money), but it is far better than letting foreign notes gather dust. Most providers only accept notes, not coins, so try to spend your coins before you head home.