Asda Money t/a Asda Financial Services Limited

September 16, 2012 01:00 ET

Eurozone Becomes More Affordable-Asda Money Comment on Changing Currency Prices

- British holidaymakers and travellers heading to Europe this summer will have more money to spend as the pound has increased against the euro.

LEEDS, UNITED KINGDOM--(Marketwire - Sept. 16, 2012) - The Eurozone has had its fair share of financial trouble over the last few years, as the euro currency has taken a dramatic hit during the economic downturn.

But the good news is that this puts more money into the pockets of British holidaymakers.

UK holidaymakers and travellers have seen the pound grow almost 10% higher in value against the euro since this time last year*. The euro is also falling against the dollar and recently hit a two year low against the American currency**. The current rate with Asda Money is 1.24***.

Those looking to buy foreign currency for a trip to mainland Europe and other countries using the euro might wish to keep a watchful eye on the currency exchange market to ensure they get the best rates.

Asda Money looks at your holiday options when buying travel money.

Foreign currency

Leaving buying foreign currency to the last minute could mean you miss out on the best rates and end up with less spending money when you do get away. It could be worth buying foreign currency in advance to ensure that you get the best rates for your cash. You can buy foreign currency online, over the phone or at your nearest Asda Travel Money bureau with Asda Money.

Pre-paid cards

Pre-paid cards are simple and easy to use. They work much like a pay-as-you-go mobile top up phone card. You can only spend what money you put onto the card but it gives you the ability to top it up should you need to. Pre-paid cards are not linked to a bank account and so there is no overdraft to dip into and a much lower risk of ID theft. You can buy Cash Passport™ Pre-paid currency cards at your nearest Asda Travel Money bureau with Asda Money.

Traveller's cheques

Traveller's cheques are a secure way of taking large sums of money overseas. They are pre-printed cheques with fixed amounts signed and dated by the holidaymaker. They can be cashed in when overseas to provide travel money. As the cheque cannot be cashed in if lost or stolen, the cheque issuer will replace it.

Wherever in the world you are travelling to this summer Asda Money offers affordable travel money to destinations across the world.

Notes to editors

* Source: This is Money Sterling's rise: the countries where the pound's exchange rate is 20% stronger than a year ago 12/07/12

www.thisismoney.co.uk/money/holidays/article-2172550/Sterlings-rise-countries-pounds-exchange-rate-20-stronger-year-ago.html

** Source: The Wall Street Journal Euro Continues to Fall 24/07/12

http://online.wsj.com/article/SB10000872396390443570904577546590700688390.html?mod=wsj_streaming_stream

*** Correct as of 21/08/12

About Asda Travel Money

  • 0% commission on over 60 foreign currencies
  • Competitive exchange rates
  • Available to order online, over the phone or in selected travel money bureau stores
  • Free Bureau collection service when ordering online
  • Free home delivery on travel money orders of £500 or over (£3.95 delivery charge applies to orders under £500)
  • Next day delivery to home when ordering before 2pm (Monday - Thursday)
  • Choice of cash, travellers cheques or Cash Passport™ prepaid currency card (in store only)

Asda Travel Money ordered online or by telephone is provided by Travelex Currency Services Limited, registered number: 03797356. Asda Travel Money ordered in store is provided by Travelex Agency Services Limited, registered number: 04621879. Both companies registered office is 65 Kingsway, London WC2B 6TD.

Asda Money Currency Card is issued by R. Raphael & Sons plc, pursuant to license by MasterCard International. MasterCard and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.

Asda Money is a trading name of Asda Financial Services Limited. Asda Financial Services Limited uses a selection of companies to provide its products and services. Please refer to www.ASDA.com/money for details of our product partners and the relevant terms and conditions for each of our products and services. Calls may be recorded and/or monitored.

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