Best way to gift travel money (Euros)?

Jamie_Carter

I'm hoping someone can give me some advice. My daughter and son in law are going on holiday to Tenerife in a couple of weeks, and I want to give them about £500 spending money. I'm wondering what is the best way to do this with regards to exchange rates, and security. The three options I'm looking at are:

1. Give them the money in £ sterling, so they can exchange it when they are abroad
2. Change the money for euros for them to take with them
3. Get them a pre-loaded credit card to use abroad for purchases

Many thanks in advance

blindman

Jamie_Carter wrote: »

I'm hoping someone can give me some advice. My daughter and son in law are going on holiday to Tenerife in a couple of weeks, and I want to give them about £500 spending money. I'm wondering what is the best way to do this with regards to exchange rates, and security. The three options I'm looking at are:

1. Give them the money in £ sterling, so they can exchange it when they are abroad
2. Change the money for euros for them to take with them
3. Get them a pre-loaded credit card to use abroad for purchases

Many thanks in advance

I normally do 1.

Then they can spend it how they wish.

(Holiday or post holiday)

Hopefully they have a MSE approved credit card or some other good card.

eDicky

For best value, tell them to open a Starling Bank account each on the smartphone app, which gives the ideal exchange rate with zero fees using the debit card for overseas purchases and withdrawals. Then just send the money to their accounts. Or Metro bank (for Europe only).

Second best - Monzo, Loot.io or Revolut.

Worst - 'preloaded' cards or cash exchange.