6 Best places to exchange currency in Nottingham - 2024
If you’re travelling in the UK and need more GBP, or if you’re currently in the UK and planning on heading abroad and looking for travel money, you might need a foreign exchange store. This guide walks through some of the top rated Nottingham currency exchange services, including their locations, ratings and some example exchange rates for comparison.
Dive in for all you need to know about the best places to exchange currency in Nottingham - and to get some valuable tips to find the best available deals on currency exchange, at home or abroad.
Beat the money changer rates with a prepaid travel card
Going to a currency exchange before a holiday can be exciting, but you will often be paying hidden fees that are baked into the exchange rate.
With a prepaid travel card from Wise or Revolut you get the market exchange rate with low fees and complete transparency. Read here 5 best prepaid cards to use abroad.
Things to consider before exchanging money
Here are a few things to think about before you buy foreign currency for your trip.
Avoid airport currency exchanges
If you’ve left it late to get your foreign currency you may be tempted to use an airport exchange on the way out of the UK. This is convenient, but usually costly. It’s worth checking if you can order online to collect your currency either in the airport or at another location on the way - this will often net you a better rate than a spot exchange. If the rates look low, you may be better off just making an ATM withdrawal on arrival at your destination, particularly if you have a debit card with low or no foreign transaction fees, like the Wise or Revolut cards (more on them later).
Check the mid-market rate
The mid-market exchange rate is the one you see on Google or using a reputable currency converter tool. However, it’s not usually passed on to customers - instead currency exchange services often add an extra percentage fee to the rate used, which pushes up costs and isn’t transparent. Get to know the mid-market rate for your currency, and look out for services which offer this, or as close as possible to it, for the best deal.
Beware of ATM rates
If you’re using an ATM overseas you might be offered the option to pay in your home currency rather than the local currency wherever you are. This sounds convenient, but is actually an expensive choice. If you pay in your home currency, the ATM operator chooses the rates and fees that apply, rather than your own bank or card network. This typically ends up more costly, so choosing to pay in the local currency can mean your money goes further in the end.
If you’re using an ATM overseas you might be offered the option to pay in your home currency rather than the local currency wherever you are. This sounds convenient, but is actually an expensive choice. If you pay in your home currency, the ATM operator chooses the rates and fees that apply, rather than your own bank or card network. This typically ends up more costly, so choosing to pay in the local currency can mean your money goes further in the end.
Get a travel money card to cut costs
We mentioned earlier that getting a travel money card from a provider like Wise or Revolut can be a cheaper way to get travel cash and to spend in foreign currencies. Digital specialist services like these have online accounts which let you exchange dozens of currencies right from your phone. Once you have the currency you need in your account it’s free to spend - or you can just add money in pounds and spend overseas without unnecessary costs or hassle.
Here’s a quick overview of some of the pros and cons of Wise vs Revolut, to give you an idea of which may work for you.
| Provider | Pros | Cons |
|---|---|---|
| Wise | ✅ Free to open an account ✅ Hold 40+ currencies ✅ Use your Wise card in 140+ countries ✅ No fee to spend currencies you hold ✅ Mid-market rate currency conversion with low fees from 0.43% | ❌ Card delivery fees apply ❌ Some ATM fees apply once your monthly free withdrawal allowance is exhausted ❌ No branch network |
| Revolut | ✅ Open an account with no monthly fees, or upgrade for more features ✅ Use your Revolut card globally ✅ Some cards offer cash back opportunities ✅ Hold and exchange multiple currencies, with no fees up to your plan limit ✅ Some fee free ATM withdrawals based on plan type | ❌ You’ll pay a monthly fee to access all features available ❌ Out of hours and exotic currency conversion fees apply ❌ No branch network |
Read more:
Best place to exchange currency in Nottingham?
Nottingham has a range of currency exchange locations, including chains and independent stores. In many cases you’ll need to order ahead online or by phone, to collect your cash later - do check the situation based on the currency you need and the store you intend to use.
To help your research, we’ve picked out a few of the top rated travel money options in Nottingham. Below you’ll find their contact information and Google rating, plus the GBP - AUD exchange rate at the time of research, as an example for comparison. Before you pick a provider, call them to get the live rates and fees for the currency you need.
| Name | Address | Phone number | GBP - AUD rate | Google Rating |
| No1 Currency Exchange Nottingham | 31-33 Wheeler Gate, Nottingham, NG1 2NA | +44 330 1247374 | 1 GBP = 1.8958 AUD | 5 out of 5 stars |
| Sainsbury’s Bank Travel money | Sir John Robinson Way, Daybrook, Nottingham, NG5 6 BN | +44 115 9200911 | 1 GBP = 1.8829 AUD | 5 out of 5 stars |
| Asda Travel Money | Loughborough Rd, Nottingham, NG2 7JA | +44 115 9813405 | 1 GBP = 1.8904 AUD | 4.8 out of 5 stars |
| CM Money Shop | 38 Upper Parliament St, Nottingham, NG1 2AG | +44 115 9474559 | Not available online | 4.8 out of 5 stars |
| Eurochange Nottingham - Victoria Centre | Victoria Centre, Nottingham, NG1 3QN | +44 115 8500479 | 1 GBP = 1.8948 AUD | 4 out of 5 stars |
| Post Office Travel money | Various locations in Nottingham | Contact your preferred branch - numbers available on Post Office website | 1 GBP = 1.886 AUD | Varied star rating depending on branch |
- Correct at time of writing, 8th August 2023
Find more currency exchange services in Nottingham here.
How we rated the best places to exchange money
Our table is based on the live Google ratings for exchange services in central Birmingham, at the time of research. However, ratings are dynamic and do change frequently - so you’ll want to do your own research as well, before you head out to exchange your money.
Factors to consider when choosing an exchange provider in Nottingham
All of the services we’ve listed in our comparison above are reputable, well rated and properly licensed. Picking a legitimate provider is important, to make sure you don’t get ripped off or fall victim to a scam. It’s also generally smart to check out Google reviews and see what other users are saying about different providers, to help you pick one.
Different exchange services have their own features and fees, with variable currency availability and costs. It’s common to need to call ahead to order and check the rates available. Bear in mind that fee free, or zero commission currency exchange doesn’t really exist, even if providers claim to offer this. Before you choose a service, check the exchange rate used to convert your funds. Often the fees are hidden in the rates instead of being transparently displayed, which can mean you’re paying more than you think for currency exchange.
Find a service which offers the mid-market exchange rate or as close to it as possible for the best available deal. Or, try an alternative like a travel money card from a provider like Wise or Revolut, for mid-market rate currency conversion with low, transparent fees.
Tips for finding the best currency exchange rates in Nottingham
Here are a few tips to get a good deal with exchanging currency in Nottingham (or anywhere else for that matter):
Compare as many options as possible across both fees and rates to make sure you get a fair deal
Use a Google search to find the mid-market rate for your currency and look for a provider offering this rate or close to it
See if you can get a better rate if you order your currency in advance by phone or online for collection
Use the Exiap currency conversion tools to stay updated on current exchange rates
Consider online alternatives such as Wise and Revolut, for travel money cards you can use for free or low cost ATM withdrawals in the UK and abroad
Where to get foreign currency outside the UK
Arranging your foreign currency in advance of travel can mean you pay lower fees overall, and can mean you can get easy access to travel money even once you’re outside of the UK. One good option is to open an account, and order a payment card, with a service like Revolut or Wise. These digital account providers let you add money in pounds and convert within the account to the currency you need to spend overseas. Or you can simply leave your money in GBP and let the card convert for you when you pay - often you’ll find there are no foreign transaction fees, mid-market exchange rates and low fees.
If you prefer to carry cash, you can exchange your GBP on the way at the airport, or at your destination at hotels or banks. However, avoiding the airport and picking a service in the city centre can mean you get a better deal on both rates and fees.
How do I exchange currency after a trip?
Many of the currency exchange services we’ve listed above let you sell back unused foreign currency after your trip. However, it’s important to note that you can usually only sell higher value foreign currency notes, which are undamaged and clean. Plus, the exchange rates offered may not be as good as the rate you bought at, meaning you get back less than you spent in the first place.
A better option might be to get a digital multi-currency account from a service like Wise or Revolut, and use local ATMs in your destination to get cash as you need it. Just add money to your account in pounds, and then withdraw local currency cash only when you need to. There’s no need to convert all your funds to foreign currency in advance - and if you have pounds left in your account at the end of your trip you can withdraw your money back to your bank, make payments to others, or withdraw at a UK ATM instead.
FAQs - best places to exchange currency in Nottingham
What is the cheapest way to get foreign currency in Nottingham ?
There’s no single cheapest way to get foreign currency in Nottingham - it’ll depend on the currency you need and how you want to pay. Use the tools and reviews on Exiap, to help you find a good provider for your specific needs.
Should I exchange money before I travel?
If you like to carry cash on holiday you can exchange your money before you travel - but you won’t always be able to access the very best rates, and carrying high value amounts of cash can be a risk. A better option may be to get a multi-currency account and card from a service like Wise or Revolut, and just make cash withdrawals in your destination when you need to. That’s convenient and safe, and can mean you pay less overall, too.
Does it matter where you exchange currency?
Currency exchange services set their own rates and fees - so which one you pick can make a huge difference to how much you have to spend on your trip. Do some research into the best options for your needs, including exchanging cash and using a specialist travel money card instead.
What is the best reloadable prepaid card?
There’s no single best reloadable prepaid debit card. Use this guide to compare a few options to pick the one that’s right for you, thinking about features, fees and the range of supported currencies you’ll need.