A nationwide survey has found that we are a nation of currency hoarders with a staggering £2.5bn in foreign currency coming home with us after a trip, unused.

In response, WeSwap has launched the nation’s first currency clean-up - an industry first partnership that allows holidaymakers to clear out their kitchen drawers, glass jars and travel wallets of unused currency from holidays past and load it back in GBP on to a WeSwap card, or donate it to charity.

The initiative – launched in partnership with FX online delivery service Currency Online Group – responds directly to a survey around holiday money which found that 60% of travellers over budget on the amount of cash taken for spending money on holiday with an average of £90 brought back in excess currency per trip.

Favourite ways to use this leftover ‘spare-change’ include splurging at duty free and on last minute gifts, however, 29 million of us say we’re currently hoarding excess currency from previous trips abroad; totted up this accounts for £819 million worth of Yen, Euros, Dollars Rupees and other currencies currently sitting unused across the nation.

The service launched by WeSwap this week looks to help customers send back any spare foreign currency notes they have remaining following their holidays. The travel money provider then converts the currency back into GBP, and puts it back onto the customer’s WeSwap account within three working days.

Travellers also have the option to donate it to the charity Love Support Unite, Currency Online Group’s preferred charity, who work to partner with communities in Malawi to break the cycle of poverty.

Jared Jesner, CEO of the company, said: “We’re really excited about our new buyback service. The research confirms that the question of what to do with leftover currency is something no-one has really cracked yet, so a huge amount of money goes to waste every year. Hopefully WeSwap Buyback will help make the process easier and fairer for everyone. We’re delighted to be able to work with Currency Online Group and Love Support Unite on this fantastic project.”

Visit weswap.com/currency-buy-back to find out more.

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