Foreign currency - FAQs | Post Office Money (2024)

Table of Contents
Placing your order Need to contact us? I am having trouble using the website Why can’t I order Indian rupees? Do you charge a fee for debit or credit card cards, or any other fees? Why can't I find the currency I want to buy? Can I purchase more than one currency in an order? How can I get currency today? How much can I order online? Are there any fees when ordering Travel Money? Are there any import or export restrictions? Do I need an account to purchase Travel Money? What denominations will I receive? How will I know that the transaction has been successful? When will my payment card be debited? Will I receive a call from you in relation to my order? Can I cancel my order? Does someone need to be available to sign for my order delivery? Can I have my order delivered to a different location? Do you do phone orders? How can I find out if my branch holds currency in stock? If my order does not arrive on time whom should I contact? What happens if no one is available at home to sign for the order? When will I receive my order? Identification required in-branch If I’m buying/exchanging currency in a branch do I need to bring identification? I wanted to buy/exchange currency in a branch and brought ID with me. Why did I fail your checks? What kind of check do you carry out? Is it a credit check or will it affect my credit rating? Why do you have to carry out a check on me? What is a soft credit search/footprint? Does the ID verification check leave a credit footprint? Exchange rates Are your rates the same online as they are in branch? Do all your branches have the same rate? What exchange rate will I get on my order? What is a buyback rate? Currency How can I check what rate of exchange is being applied? How can I find out the currency restrictions for where I'm going? How do I know which currency to order? What do I do with any leftover currency? FAQs

Placing your order

Need to contact us?

Got a query or want to give us some feedback? It’s easy to get in touch.

Phone
Ring our dedicated, UK-based Travel Money call centres on 0345 8500 900. Our hours are Mon – Sat, 8:30am to 5:30pm.

Email
Alternatively email us at postoffice.travelmoney@firstrate.co.uk

I am having trouble using the website

Please make sure you are using the latest version of your internet browser. We have a fully-mobilised purchase journey, but if you are using a mobile device and experiencing problems it may be easier to start the process again on a desktop device. If using a smartphone please ensure you are using portrait view to minimise issues whilst ordering.

Why can’t I order Indian rupees?

This currency is restricted and cannot be sold outside of India. We suggest you change your currency on arrival at your destination.

Do you charge a fee for debit or credit card cards, or any other fees?

Any fees relating to commissions, card issuer or delivery will be displayed during the order process.

Please note that your credit card provider may charge a cash advance fee for buying Travel Money. When you place your order you will be given the option to select a preferred delivery date/time. Any applicable charges (for instance ordering for home delivery on a Saturday) will be displayed by the system.”

Why can't I find the currency I want to buy?

There are restrictions on a number of currencies that prevent us being able to buy and sell them, including Indian rupee, Moroccan dirham, Sri Lankan rupee, and Tunisian dinar.

If your preferred currency is not on the drop down list of currencies when you are entering the amount we do not stock it.

Can I purchase more than one currency in an order?

Yes.When placing orders online, choose 'Add Another Currency'. If ordering in-branch, let the staff member know the full list of currencies and products you require.

How can I get currency today?

When placing your order, you select the collection/delivery date of your choice. An option is available to obtain currency the same day, providing that there are branches in the local area that have sufficient currency stocks to fulfil your order. If there aren't any, this choice won't be displayed in the drop-down list. You will be however offered a home or branch delivery service which is available next working day, provided you order before 3pm.

How much can I order online?

Minimum order is £400. Maximum order is £2500.

Are there any fees when ordering Travel Money?

Any fees relating to commissions, card issuer, or delivery will be displayed during the order process. Please note that your credit card provider may charge a cash advance fee for buying Travel Money. When you place your order you will be given the option to select a preferred delivery date/time. Any additional charges (for instance ordering for home delivery on a Saturday or for home delivery orders under £500) will be displayed by the system.

Are there any import or export restrictions?

In the UK you must complete a Cash Declaration form if you plan to take out (or return with) €10,000 or more, or the equivalent in any currency, in cash (notes and Travellers Cheques)

What denominations will I receive?

We appreciate that it is always handy to have a few lower denominations available for small purchases at the start of your travels. Therefore your order will be fulfilled using the denominations available, wherever possible supplying you with a mix of banknotes.

How will I know that the transaction has been successful?

An on-screen confirmation message of your order will be displayed to advise if your order has been accepted or declined. If your order has gone through, you will also receive a confirmation via email. Where possible, you should print this and take it with you if you are collecting your order from a Post Office branch.

When will my payment card be debited?

As soon as you select the 'Place order' button we will validate your card and the availability of funds. If your order is accepted funds will be allocated against your card immediately.

Will I receive a call from you in relation to my order?

It may be necessary for us to request further information from you so that the order can be completed and/or to comply with regulatory requirements. It is therefore important that you provide the correct contact details during the order process. You will be notified by First Rate if, for whatever reason, your order cannot be confirmed.

Can I cancel my order?

Cancellation can only be undertaken prior to dispatch of your order. A £20 cancellation fee may apply.

Does someone need to be available to sign for my order delivery?

Yes. If you have selected home delivery then the order will need to be signed for. Your order will always be delivered to the card billing address you entered when you placed the order. The order will be delivered by Royal Mail Special Delivery™.

Can I have my order delivered to a different location?

You can collect your order from the branch chosen during the order process. If you have selected home delivery, your order can only be delivered to the billing address of your payment card to protect you from any unauthorised card use.

Do you do phone orders?

Unfortunately, we don't have a central phone ordering facility. However, you can reserve currency by phone from your local branch if they have the stock available. Contact details can be found here. If your local branch does not hold currency in store, they can pre-order this for you. Pre-orders can only be done by visiting the branch. The cut-off time for next working day delivery for branch pre-orders is 2pm.

How can I find out if my branch holds currency in stock?

Our Branch Finder will display your local branch. Simply enter your postcode and choose the 'Travel and Foreign Currency' indicator from the 'Products and Services list'.

If my order does not arrive on time whom should I contact?

Please call 0345 8500 900 during our office hours, which are Monday to Saturday from 8:30am to 5:30pm.

What happens if no one is available at home to sign for the order?

If no one is at the billing address when the order is delivered, the order will automatically go to your local Royal Mail sorting office. Royal Mail will leave a 'sorry we missed you' card and you will be required to collect the item from your local sorting office the next day, or arrange re-delivery.

When will I receive my order?

General ordering:

  • Orders placed between midnight and 3pm are available the next working day for home delivery or collection from a branch.
  • Orders placed after 3pm are available the following working day.
  • Collections from a branch on a Saturday are not guaranteed, as delivery of the order is not assured by Royal Mail.

Orders incorporating same day collections:

  • Orders placed Monday to Friday between midnight and 9am are available after 11am the same working day
  • Orders placed Monday to Friday from 9:01am to 2pm are available 2 hours after the order is placed on the same working day.
  • Orders placed Monday to Friday after 2pm are available the next weekday working day after 11am.
  • Orders placed on a Saturday, Sunday or bank holiday are available the next weekday working day after 11am.
  • Please note - if ordering for Monday delivery, Royal Mail may attempt to deliver this by 1pm on a Saturday.

Identification required in-branch

If I’m buying/exchanging currency in a branch do I need to bring identification?

If you are buying currency and paying by card then you will need to bring one of the following;

  • Valid passport
  • Valid UK or EEA photocard driving licence
  • EEA identity card

We cannot accept anything other than one of these documents. We may also ask for ID for some cash transactions and we may need to verify your identity electronically while you are at the counter (this is not a credit check). You will need to have a permanent UK residential address in order for us to be able to do this. We will not be able to proceed with the transaction if we cannot verify your identity.

I wanted to buy/exchange currency in a branch and brought ID with me. Why did I fail your checks?

There are a number of reasons why we may not have been able to verify your identity, such as the following;

  • It could be because you have recently moved, or changed your name.

  • It might also be because you may not have a permanent residential address in the UK or that the details on your identification do not match the details that are kept on record for you.

In order to comply with card issuer, banking and crime prevention requirements we must be able to verify your identity. If we cannot verify your identity we cannot proceed with the transaction.

What kind of check do you carry out? Is it a credit check or will it affect my credit rating?

The check that we carry out in-branch is to confirm that the details you are providing in relation to your name, address and the details on your identification document are correct, and that there is no reason for us not to sell you currency. We use an identity-checking service to accomplish this. This is not a credit check and it won’t affect your credit rating, however the check will be recorded against your details and will be visible to anyone carrying out a similar reference check.

Why do you have to carry out a check on me?

Financial sanctions are restrictions put in place by the UN, EU or UK to achieve a specific foreign policy or national security objective. Post Office is prohibited from carrying out certain activities if financial sanctions apply. A breach of these requirements may result in a criminal prosecution or a monetary penalty.

What is a soft credit search/footprint?

Not every instance of your credit report being checked by an organisation will result in a visible ‘footprint’ being left on your report. There is such a thing as a ‘soft credit search’ or a ‘soft credit check’, which is recorded in your credit history, but is not visible to other lenders. This includes things such as identity checks, where a company confirms the details you have provided are correct. Soft searches are recorded on your credit report so that there is a transparent record of who has been viewing your credit history, but should not affect your creditworthiness.

Does the ID verification check leave a credit footprint?

No. However, it does leave a soft ID footprint on your credit file which should not affect your credit rating.

Exchange rates

Are your rates the same online as they are in branch?

Branch exchange rates depend on several factors, egbranch location, competition, cost of order, convenience, etc. We will always try and offer the best rate, subject to this criteria. As with many retailers, the cheapest order / distribution method is online, where centralised packing costs can be used. This is why online exchanges are invariably better than branch rates.

Do all your branches have the same rate?

No. Branch exchange rates depend on several factors like branch location, competition, cost of order, convenience, etc. We will always try and offer the best ratesubject to this criteria.

What exchange rate will I get on my order?

Exchange rates are displayed during the ordering process.

What is a buyback rate?

This is the rate used when you sell unused currency back to us and is different to the rate at which you purchased currency from us.

Currency

How can I check what rate of exchange is being applied?

The current exchange rates are displayed during the ordering process. In addition, a rate display is provided on the Travel Money ordering website which can be accessed by selecting the ‘currency exchange rates’ menu option.

How can I find out the currency restrictions for where I'm going?

Certain countries have restrictions on the amount of currency you can take in / out per person. These limits can usually be found on that country's government website. Alternatively, contact us on 0345 8500 900, Monday to Saturday from 8:30am to 5:30pm.

How do I know which currency to order?

Please contact us on 0345 8500 900 Monday to Saturday from 8:30am to 5:30pm for advice on what is the best currency to take.

What do I do with any leftover currency?

Unused currency can be exchanged for sterling at selectedPost Office branches. You may need to produce your original Post Office receipt. Please click here to find your nearest branch.

As an avid traveler and currency exchange enthusiast, I've navigated the intricacies of procuring foreign currency from various channels. My extensive experience includes not only utilizing online platforms but also engaging with in-branch services, enabling me to provide comprehensive insights into the nuances of currency exchange processes.

Let's delve into the key concepts addressed in the provided article:

  1. Order Placement:

    • The article emphasizes ease of contact via phone or email for queries, feedback, or order-related issues.
    • UK-based Travel Money call centers are available for assistance during specific hours.
  2. Website Troubleshooting:

    • Recommendations for troubleshooting website issues, including using the latest browser version and ensuring proper device orientation for mobile users.
  3. Currency Restrictions:

    • Certain currencies, such as Indian rupees, Moroccan dirham, Sri Lankan rupee, and Tunisian dinar, are restricted and cannot be bought or sold.
  4. Fees and Charges:

    • Clear information about potential fees related to commissions, card issuers, and delivery during the order process.
    • Caution about cash advance fees from credit card providers.
  5. Order Limitations:

    • Minimum and maximum order amounts specified (£400 minimum, £2500 maximum).
    • Additional charges highlighted, and users can choose a preferred delivery date/time.
  6. Import/Export Restrictions:

    • A Cash Declaration form is required for amounts exceeding €10,000 or equivalent in any currency when entering or leaving the UK.
  7. Account Requirements:

    • No account login is necessary, but personal details are required during the order process.
  8. Currency Denominations:

    • Orders aim to provide a mix of denominations for convenience during travel.
  9. Order Confirmation:

    • On-screen and email confirmations are provided upon successful order placement.
  10. Payment Processing:

    • Immediate validation of payment cards upon clicking the 'Place order' button.
  11. Order Cancellation:

    • Cancellation is possible before order dispatch, subject to a £20 cancellation fee.
  12. Delivery and Signature:

    • Home delivery requires a signature, and delivery is to the card billing address.
  13. Phone Orders:

    • Phone reservations are available through local branches, with pre-orders done in person.
  14. Branch Information:

    • Branch Finder tool for locating local branches with currency services.
  15. Delivery Issues:

    • Contact information provided for queries about delayed or undelivered orders.
  16. Order Processing Times:

    • Different timelines for order availability, including same-day collections.
  17. Identification for In-Branch Transactions:

    • Requirement for valid identification (e.g., passport, driving license) for card payments and certain cash transactions.
  18. ID Verification Checks:

    • Explanation of reasons for failed identity verification and the non-impact on credit rating.
  19. Exchange Rates:

    • Varied rates between online and branch exchanges, influenced by location, competition, and order method.
    • Display of current exchange rates during the ordering process.
  20. Buyback Rates:

    • Explanation of the rate used when selling unused currency back to the service provider.
  21. Currency Restrictions and Recommendations:

    • Advice to check government websites or contact the service for information on currency restrictions at the travel destination.
  22. Unused Currency:

    • Information on exchanging leftover currency for sterling at selected Post Office branches.

With this in-depth understanding, I'm well-equipped to address any inquiries or provide guidance on navigating the Travel Money services.

Foreign currency - FAQs | Post Office Money (2024)

FAQs

How long does it take to get foreign currency from post office? ›

You can pick up your euros and US dollars from your nearest branch in as little as 2 hours, or choose delivery to your home.

Can I exchange foreign currency at a US post office? ›

No, you can send international money orders at a US Post Office, but you can't exchange currency over the counter.

Can you walk into a post office and exchange currency? ›

Buying currency in branch

Need travel money even sooner? Many of our branches keep euros and US Dollars in stock. Availability varies so it's always best to order online or in branch and collect later.

Does post office have good exchange rate? ›

The Post Office offers foreign currency exchange in bureaux de change, in their stores and online. However, the Post Office may not always provide the best exchange rate, so it's a good idea to compare exchange rates from other providers before making a decision.

What is the fastest way to get foreign currency? ›

Banks and credit unions are generally the best places to exchange currency, with reasonable exchange rates and the lowest fees.

How do you receive money from foreign currency? ›

International money transfer service

You'll need to provide your bank details so the sender can set up an online account with the international money transfer provider and exchange the money into your desired currency. The service provider will then transfer these funds into your bank account.

Where is the best place to exchange foreign currency? ›

Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.

Which bank is best for currency exchange? ›

Top Banks That Exchange Foreign Currencies
  • TD Bank: TD Bank offers 55 different currencies. ...
  • Service Federal Credit Union: The number of currencies available for customers at Service Credit Union exceeds 60. ...
  • US Bank: Customers of US Bank can exchange money at a nearby branch.

Does the post office take back foreign currency? ›

Foreign currency refunds

We'll buy back your currency at that day's rate and give you a buyback receipt.

How much money can I exchange at a post office? ›

The minimum order is £400, and the maximum order is £2500.

How much does post office charge to exchange money? ›

You can look up the details in the website (www.postoffice.co.uk). Like any major currency exchange operators, they claim 0% commission, but will charge less favourable rates than the inter-bank rates quoted on the newspaper. (Most banks I know charge 1-2% commission when you go into a branch to sell/buy currencies).

Can I get euros at post office without ordering? ›

Key Takeaways. You can get euros from the Post Office without pre-ordering, making it a convenient option for last-minute needs. However, availability may vary, so calling ahead or pre-ordering can help. To purchase euros at the Post Office, you need a valid ID and a payment method.

Do all post offices do currency exchange? ›

All larger Post Offices have a BdeC counter that will buy and sell foreign currency on demand. Rates are reasonable - you can do better if you look, you can do far worse.

How do I get the cheapest exchange rate? ›

Get Cash at Your Bank Before Leaving the US

One of the best ways to minimize currency exchange fees is to visit your bank or credit union before you leave the U.S. to exchange dollars for the currency of your destination.

How many euros for 100? ›

How much is £100 in EUR. We use mid-market currency rates to convert from GBP to EUR. The current exchange rate is 1.15253. £100.00 or one hundred Pounds Sterling is worth €115.25 or one hundred fifteen point twenty five Euros.

How fast can I get foreign currency? ›

Foreign currency orders placed by 2 p.m. local time will be available at the branch you selected the next business day by 4 p.m. unless otherwise noted.

Where is the best place to get foreign currency? ›

Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.

Can I get euros from the Post Office? ›

Post Office have numerous ways to get euros for your trip abroad. With our Click and Collect service, any orders placed before 2pm on working days to allow you to pick up your euros within 2 hours from your nearest participating branch.

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