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holidaymakers who choose to buy their currency last minute at the airport can end up paying as much as 14% more for their money”

Travellers planning to hit the slopes this autumn or escape from the dreary British evenings as winter draws on could benefit from taking a travel money card on their trip.

Travel money cards by issuers such as FairFX, CaxtonFX and MyTravelCash can save travellers money on currency exchange, leaving them with more cash to spend when they reach their destination.

FairFX, for example, offers rates for euros and US dollars at less than 1% above wholesale rates.

This means that all travellers, from those on city breaks or half-term ski trips to sun seekers, can have access to business level foreign exchange rates when using the cards.

Those who choose to buy their currency last minute at the airport rather than purchasing it in advance using a travel money card can risk paying more for currency exchange.

A new survey by FairFX.com found that holidaymakers who choose to buy their currency last minute at the airport can end up paying as much as 14% more for their money than if they had bought it in advance. The travel money card provider found that Luton and Birmingham airports offer the worst deals.

Travel money cards have the additional benefit of being very easy to use. They can be topped up online or by text and work in much the same way as a debit card. The FairFX currency card, for example, is a MasterCard chip and pin enabled prepaid debit card. The cards are issued in euros or US dollars and can be paid for using a sterling debit or credit card or internet bank transfer.

MyTravelCash is also a prepaid MasterCard issued in euros or US dollars. Travellers who do not use all the money loaded on their MyTravelCash cards can withdraw the outstanding amount from an ATM abroad or in the UK, ask for a refund, or save the money for their next trip.

As well as offering good foreign exchange rates, the cards can also be bought ahead of time, meaning that travellers can take advantage when the exchange rate between sterling and the dollar or sterling and euro is up.

According to chief executive of prepaid travel money card issuer FairFX, Stephen Heath, exchange rates are likely to continue to fluctuate as sterling continues to lose value against the euro.

"As the pound is expected to be weak for some time to come it is more vital than ever that people take steps to get as much as they can," he advised.

Meanwhile, senior analyst at CaxtonFX Duncan Higgins said that analysts have predicted an increase in retail sales of 0.6% for last month, which could lead to a strengthening in the pound.

"Signs that consumers are increasing their spending habits will reaffirm a level of optimism about Britain's recovery, which in turn would be suggestive of a tighter monetary policy and a stronger pound," he explained.

If the pound does strengthen against the euro or dollar, this could be a good time for those planning a trip abroad in the future to buy or top up their currency card.