Post Office resumes forex services

Post Office Travel Money’s online foreign exchange and branch pre-order services are being reactivated after three months of Covid-19 lockdown.

People planning trips abroad will be able to order more than 60 currencies online for next day home delivery or collection from 11,500 Post Office branches.

Same day online ‘click and collect’ delivery will also be available at a selected number of branches nationwide from July 1.

Pre-ordered currency purchase will be offered in selected Post Office branches alongside over-the-counter foreign exchange for euros, US dollars and up to 30 other currencies on demand.

Consumers can also load the Post Office pre-paid Travel Money Card with up to 23 currencies.

Both these services remained active on a reduced scale during the three-month suspension of the online and pre-order travel money operation.

Post Office exchange rate research confirms that while sterling is currently 8.2% cent weaker against the euro than at its 2020 high, today’s rate of €1.0803 is just 1.4% lower than a year ago when £1 bought €1.0957.

The Post Office has seen similar trends across other European currencies but adds that sterling is actually stronger than a year ago against some holiday currencies – notably the Turkish lira, where the pound is worth almost 13% more year-on-year.

Nick Boden, head of Post Office Travel Money, said: “We have been monitoring the position carefully in recent weeks and are aware of growing consumer interest in holidays as lockdown rules have relaxed.

“With the reintroduction of flights by leading airlines and the re-opening of resorts in Europe, we feel that it is appropriate to resume our travel money services so that we can accommodate those who want to start planning trips abroad in the coming months.

“We’re following FCO advice closely and we advise holidaymakers to do the same.”

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