First Rate advises on long haul currency restrictions

5th Oct 2009
First Rate advises on long haul currency restrictions

As the long haul season approaches and UK travellers seek out warmer
climes, First Rate Exchange Services is advising UK travellers to check
currency restrictions to avoid falling foul of foreign customs laws and

First Rate Exchange Services has issued its warning as many young people
leave on gap year trips off the beaten track and holidaymakers seek out
more exotic destinations.

For example Tanzania and Nepal are just two countries where it is illegal
to import or export currency and in Nepal it is also illegal to exchange
money with unauthorised dealers. Some more traditional winter holiday
destinations also have their own stringent restrictions. Both Morocco and
Tunisia prevent the import and export of their currencies by visitors. And
there are even restrictions relating to the Euro.

Currencies such are Indian Rupees can be obtained from some foreign
exchange providers in the UK, despite Indian customs regulations stating
they should not be traded in the UK nor taken in or out of India. Even
countries which allow foreign currency to be brought in may expect visitors
to make a declaration at customs.

First Rate’s Travel Money Online Service, used by foreign exchange
retailers such as The Post Office, Abbey, easyJet and P&O Ferries, reminds
travellers of the maximum amount of local currency which can be taken into
their destination country at the time of purchase to ensure travellers are
aware of any currency restrictions.


Gordon Gourlay, Managing Director, First Rate explained: “Travel across
the globe has become more and more accessible but it is easy to forget that
many countries have their own restrictions in place regarding currency. The
last thing anyone would want is for their holiday to start with a search by
customs officials, their spending money confiscated, and the risk of
further punishment.

“As experts in foreign exchange services we supply over 11,500 retail
outlets with a foreign currency service and offer upwards of access to more
than 70 foreign currencies. We ensure that our foreign exchange retailers
have the most up-to-date information on the regulations imposed by
different countries, however travellers may get caught out if they obtain
currency from an outlet which does not have the same expert knowledge.”

First Rate Exchange Services is the UK’s leading provider of foreign
exchange services to foreign currency retailers.  It provides a wide range
of white labelled foreign exchange services available to businesses large
and small across the UK.


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