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Travel Money

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Tesco Travel Money in Newmarket

Tesco Travel Money

Tesco Travel Money near you, is located within our store in Newmarket Extra - Travel Money, we bring you a seamless experience to easily exchange foreign currency. Whether you're looking for travel money or searching for where you can exchange foreign currency hassle-free, our dedicated service ensures your needs are met. Say goodbye to the stress of finding a reliable foreign currency exchange in Newmarket Extra - Travel Money and trust Tesco Travel Money to provide you with the convenience you are looking for. Opening hours are consistently reviewed by our team to ensure that they are always updated, and correct.

• MON : 9am-6pm
• TUE : 9am-6pm
• WED : 9am-6pm
• THU : 9am-6pm
• FRI : 9am-6pm
• SAT : 9am-6pm
• SUN : 10:30am-4pm

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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

Tesco Bank’s latest ‘little help’ is on the money for holidaymakers

13 August 2019

Tesco Bank has today launched its latest ‘little help’ that will mean its travel money customers are prepared for the custom of tipping as soon as they arrive on their holiday.

Travel Money Tip Packs, which contain 20 x $1 notes, are available to purchase in 360 Tesco travel money bureaus across the UK after an initial trial period found there to be strong customer demand. Coming in their own separate wallet from higher value notes, the packs are designed as a helpful addition for customers travelling to countries including the USA and the Caribbean where tipping is seen as a mandatory practice, as well as those who value the convenience of having smaller denominations of notes.

If the packs continue to be a hit with customers, the initiative could be rolled out for other currencies as well as being made available in various different denominations.

There will also be a ‘little help for little people’, with packs specifically designed for children being introduced to travel money bureaus from 26 August. ‘My holiday money’ wallets will be available in 20 x €1 packs but can also be created to an amount of the customer’s choosing. The wallets – which contain an educational quiz based on currencies of the world on its cover - are a practical way to get children understanding money at an early age.

Commenting on the launch, Mark Loch, Tesco Bank’s Group Payments and Money Services Director said:

“We’ve all been there - you just arrive on holiday and find you don’t have the right money to tip the taxi driver who picks you up at the airport. Our readymade tip packs are intended to give you that peace of mind as soon as you land.

“The packs really have gone down a storm with customers. Those going on all-inclusive holidays are finding them particularly helpful, and we’ve seen lots of people buying them as thoughtful gifts for friends and family. Also, our travel wallets for kids are an excellent way to get them interested in different currencies and to understand money from a young age.

\"We always aim to serve our customers in ways that make their lives a little easier and we think these handy packs will be extremely useful for travellers of all ages.”  

For more informationa and media enquiries please contact: 

Tesco Bank Press Office  +44 (0) 131 274 3630

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Our 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.Tesco Bank is a trading name of Tesco Personal Finance plc.

Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

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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