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Asda Travel Money: Rates and Stores

As one of the UK’s largest supermarket chains, Asda offers everything you need for your regular weekly shop. Thanks to a partnership with travel money provider Travelex, you can also pick up your foreign currency at the same time you’re collecting your groceries.

No matter where in the world you’re headed, you’ll want to do some research on different travel money providers to find the one which offers you the best possible value. This guide covers all you need to know about Asda travel money - and also introduces an alternative, Wise , as a comparison.

With the Wise account (formerly TransferWise) you can buy foreign currency at the mid-market exchange rate with no markup, and spend easily when abroad, using your linked Wise Mastercard debit card . More on that coming up.

Asda travel money services

Asda provides customers with a range of travel money services , including:

• In person foreign currency purchase at Asda travel money stores
• Click and collect service to order currency online and pick up at a store
• Home delivery of travel money
• Asda travel money prepaid currency card

However, it is important to note that some services are disrupted due to restrictions in place to combat the global pandemic. This may include store closures, and delays to home delivery services for travel money. Restrictions change over time, so you’ll need to check out the latest details online before you decide how to arrange your travel money.

Asda travel money stores

There are specific travel money bureaux in some Asda stores around the country, offerings walk in currency exchange, click and collect travel money, and phone ordering of foreign currency . Over 50 different currencies are available, although for some currencies - or for large amounts - you’ll find you need to order in advance. You’ll be able to find the nearest Asda travel money service to you, using the Asda store locator tool .

At the time of writing all exchange bureaux have been closed due to the global pandemic response. Check out the latest details online before you head out to buy your travel money.

Home delivery

Another option to get your travel money is to buy online and have the cash delivered to you at home.

You’ll be able to place an order with a minimum value of £250, through to a maximum of £2,500. Home delivery is free for orders of £500 or more, with a £3.95 fee for delivery of smaller amounts of travel money. Home delivery is by Royal Mail, and will usually arrive the next working day if you order before 1:30pm. However, at the time of writing, this service is being disrupted due to the pandemic, and there may be delivery delays. Asda advise customers to leave adequate time before travelling to receive their travel money safely.

It’s useful to know that you’ll need to be home to accept delivery of your travel money, for security reasons. You’ll also want to check out the exchange rate used for your order, as a markup or margin may be added which can push up costs. More on that later.

Asda money travel insurance

If you’re looking for insurance to cover your trip abroad, you can also get that through Asda money . Asda partners with InsureandGo to provide a full range of insurance types, including single trip, multi-trip and winter sports cover.

Asda travel money rates

No matter where you are buying your travel money from, you’ll need to know the exchange rate that’s being used to switch your pounds to euros, dollars, zloty or any other currency. Exchange rates change all the time, but you can easily find the live mid-market exchange rate for your currency using a simple Google search or a reputable online currency converter.

It’s useful to know that many travel money services add a markup or margin to the exchange rate they offer customers, instead of passing on the mid-market exchange rate. Markups are extremely common where providers claim to offer commission free currency exchange. Instead of a transparent exchange fee or commission charge, a markup on the exchange rate is used to protect the provider’s profits. This is an extra fee, and makes it hard to see the true cost of your currency conversion.

Compare the rate you’re given by Asda travel money against the mid-market exchange rate. If there’s a difference that’s probably because a markup has been added. If this is the case, you may be better off with an alternative like Wise.

An alternative: The Wise account

Not all currency services add a markup to the mid-market exchange rate. Instead, Wise passes the mid-market exchange rate on to customers, and uses a low transparent fee for conversion, so you can see exactly what you’re paying for your travel money, every time.

To make travel money easy, consider getting a free online Wise account . You’ll be able to top up your account in pounds and switch to any of dozens of different currencies within the account, using the mid-market exchange rate. You can then spend or withdraw your foreign currency using your linked Wise Mastercard debit card. Simple.

You’ll only ever pay a small charge for currency conversion, and ATM withdrawals are free up to the value of £200 a month. All in all, that can work out up to 7x cheaper than using a bank or a competitor service.

Asda buy back service

If you come back from your trip with unused travel money you may be able to sell it back to Asda travel money through the buy back service.

Typically only foreign currency notes can be returned - and the exchange rate which will be used will be different to the rate that was applied when you switched your money in the first place. That’s because currency services often use different exchange rates when buying and selling foreign currency. Make sure you understand the rate which will be used before you proceed, to avoid any surprises.

Switching your currency back after your trip will usually mean you pay more in fees and exchange rate markups. Instead, use a service like the Wise account to manage your money more flexibly and top up and exchange currency as you go. That way you’ll be able to convert only what you need, when you need it.

Doing some research into the different options available is the best way to get a good deal on your travel money. Compare the fees and rates available from Asda travel money with a specialist provider like Wise , and you might find you can save .

Return to the blog .

Asda Travel Money 4+

Travelex global, designed for iphone.

• 4.7 • 1.3K Ratings

iPhone Screenshots

Description.

Take the hassle out of travelling with Asda Travel Money. Manage your Asda Travel Money Card or order travel money on the go via the app. With the app you can easily reload your card, check your balance and recent transactions. If you need currency in cash you can also order it via the app and have it sent straight to your door or collect in one of our in-store locations across the UK. The Asda Travel Money Card is the perfect travel companion with: 16 currencies to choose from Free ATM withdrawals worldwide* Safe and Secure No links to your bank accounts Millions of locations to choose from Pin protected to safeguard against fraud Lock in your exchange rates Accepted anywhere Mastercard® Prepaid is accepted 24/7 global assistance to replace your card or provide you with emergency cash You can also order cash in the app to lock in our very best rates on your foreign currency. Whether you are looking for euros, dollars or one of our other 50 currencies, we can deliver to your home or you can pick up in store.  Want to get in touch? Email us at [email protected] *Although we at Asda Travel Money do not charge ATM fees, please check the ATM before using it as some operators may charge their own fees. Asda Money Currency Card is issued by PrePay Technologies Limited (PPS) pursuant to license by Mastercard International. PPS is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN:900010) for the issuing of electronic money and payment instruments, with its registered office at Floor 6, 3 Sheldon Square, London, W2 6HY, UK. PPS is registered in England under company number 04008083. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Asda Travel Money ordered via the app is provided by Travelex Currency Services Limited, registered number 03797356 with registered address Worldwide House, Thorpewood, Peterborough, PE3 6SB If you have any feedback on the experience of our app we’d love to hear it; email us at [email protected]

Version 3.19

At ASDA Travel Money, we're committed to delivering the best mobile experience possible. In this latest update, we've prioritised your security, added exciting new features, and resolved those pesky bugs that may have been causing inconvenience. Enjoy peace of mind with enhanced security measures, explore a range of fresh features, and experience a smoother app performance.

Ratings and Reviews

1.3K Ratings

Easy to use, if you don’t want to carry notes around, you can use this card aboard, even add extra on the app from your debit card. Would definitely recommend and use for future holidays

Developer Response ,

Hi. Thank you so much for your review! Kind regards, Online Support Team

Get ready for a hassle

When opening the travel card at the Asda branch, they failed to inform me that this card has one of the most pointless policies I have ever heard, it can only be topped up once every 24hrs. Luckily I tried to top it up before my flight as I would have found myself with no money on the card before the initial 24hr period. Now, when registering on the app, I would continuously receive the prompt stating I have entered incorrect information. So had to call customer service and they confirmed the info was indeed correct and then they had to register my details on the account before setting up the app.

Hi, sorry to hear this, so we can investigate the issue further, please can we ask you to email us at [email protected] so that we can follow up and perhaps provide a resolution. Kind regards, Online Support Team

Paying good, anything else forget it

Paying with pre loaded credit is a dream. Ability to check balance quickly. However topping up becomes a nightmare. Will not download app outside of UK on some phones. Doesn’t understand you have to navigate away from app to authorise via banks app. Asda app then sits there in a fluster. Still going through website was painless.

Hi, thank you for your review. We do apologise for the issues you have experienced with the app, if possible, pleas can you send any further feedback to [email protected]. Thanks, Online Support Team

App Privacy

The developer, Travelex Global , indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .

Data Linked to You

The following data may be collected and linked to your identity:

• Financial Info
• Contact Info
• Identifiers

Data Not Linked to You

The following data may be collected but it is not linked to your identity:

• Diagnostics

Privacy practices may vary based on, for example, the features you use or your age. Learn More

Information

English, French

• Developer Website
• App Support
• Privacy Policy

More By This Developer

Travelex Travel Money

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ASDA - Parkhead, Forge Retail Park

Opening times asda - parkhead, forge retail park, holiday opening hours 2024 show.

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Offers & Special Buys ASDA

• Fri 12/04 - Thu 18/04/24

• ASDA Magazine March/April
• Sun 24/03 - Tue 30/04/24

View more ASDA popular offers

Phone number 0800-952-0101 Website www.asda.com Social sites         Customer rating 3 ( 1 x) 0 5 1

ASDA - Parkhead, Forge Retail Park - Opening Hours & Store Details

ASDA Superstore is situated within easy reach in Forge Retail Park at 1300 Duke Street, about a 2.15 mile driving distance east of the centre of Glasgow, in Parkhead ( near to Crownpoint Sports Complex, Celtic Park and Glasgow Cathedral ). Patrons can easily travel here from Dennistoun, Carntyne, Mile-end, Haghill, Parkhead, Camlachie, Bellgrove, Gallowgate, Duke Street and Bridgeton. Its hours of operation for today (Tuesday) are 8:00 am until 10:00 pm. This page will give you all the information you need about ASDA Parkhead, Forge Retail Park, including the business hours, map, customer feedback and further pertinent details.

Getting Here - Duke Street, Glasgow

ASDA Superstore occupies a location in the vicinity of the crossroads of Duke Street, Biggar Street and Shettleston Road, in Parkhead, Glasgow, at Forge Retail Park.

Merely a 1 minute drive time from Glenpark Street, Holywell Street, Duke Street and Gallowgate; a 2 minute drive from Cumbernauld Road, Crownpoint Road, Shettleston Road or London Road; or a 6 minute trip from M74, Viewpark Avenue, Alexandra Parade and Junction 14 (Blochairn) of M8.

For those using Sat Navs, enter the postcode G31 4EB.

Bus stops: Gallowgate/St Michaels Lane, Parkhead Cross and Duke Street/East Wellington Street. The most convenient services: 8, 32, 46, 64, 90, 164, 255, 351, 364, 395, N2, N60, N240, simpliCITY 2, simpliCITY 60, simpliCITY 61, simpliCITY 240 or simpliCITY 60A.

Visit the store from Duke Street Train Station (3650 ft) and Carntyne Train Station (4350 ft away). Your regular line option: ScotRail.

In walking distance, you might come across Toolstation Glasgow Parkhead, Eastern Necropolis (Janesfield), Bellgrove Train Station, Tollcross Park, Forge Shopping Centre Car Park, Alexandra Park, Comely Park Grassland, Whitehill Secondary School and Sir Chris Hoy Velodrome.

ASDA Locations Nearby Glasgow

Including this store, ASDA now runs 11 branches in Glasgow, Lanarkshire.

Click here for a full index of all ASDA stores near Glasgow .

Forge Retail Park

While dropping by ASDA, please go see the wide range of stores in Forge Retail Park. TESCO, Argos, M&S Marks and Spencer, McDonald's, Home Bargains, KFC, Currys, B&M, Carphone Warehouse, B&Q, Starbucks, ALDI, Greggs, Burger King, Sports Direct and other stores are also located in this same spot.

Related searches: ASDA Bridgeton; ASDA Celtic Park; ASDA Parkhead Forge Superstore

Other Stores

One below the forge shopping centre, glasgow, ee forge shopping centre, glasgow, the works glasgow forge, superdrug parkhead, glasgow, trespass gallowgate.

ASDA Toryglen Travel Money Bureau

Opening hours, store hours:.

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Asda Travel Money Card is issued by PrePay Technologies Limited pursuant to licence by Mastercard® International. PrePay Technologies Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900010) for the issuing of electronic money and payment instruments. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Money latest: Prepayment meters now have cheapest default tariff - should you switch?

The default tariff for prepayment meters is now cheaper than other types of meter - so should you switch? You can read this and our other weekend features, and leave a comment, below - and check back on Monday for hourly updates on consumer and personal finance news.

Sunday 14 April 2024 17:19, UK

Weekend Money

• How to get cheapest energy bills after price cap tweak most people don't know about
• 'It's cost me £8,000 to get out of an abusive relationship' - Readers respond to divorce story
• How to earn thousands letting film and music stars shoot in your home
• Money news of week: Blow for expats in Spain | Where will Labour get money from? | Shell could quit London

Best of the week

• How your neighbour's garden could wipe up to £57,000 from your house price
• Could I build a home gym for less than my gym membership?
• Britons are buying homes, having babies, getting married and retiring later - but one key life event is happening earlier
• 'WTF is going on with the price of olive oil?'
• Cheap Eats: Great British Menu legend shares ultimate toastie recipe
• Money Problem: The monthly charge on my leasehold flat has gone up by more than £60 a month - what are my rights?

Ask a question or make a comment

Looking for some longer Money reads for your evening/commute/lunch break?

Here's four from the last few months you might like...

Cost of a pint

Many of us have noticed the price of pints creeping up in recent years. 

The cost of draught lager has gone up nearly 30% since January 2019, according to the Office for National Statistics.

The beer doesn't taste any different despite the increase in price - so where exactly does that £6-7 for a pint go? 

We've spoken to experts to get a break down...

Motherhood penalty

The word "penalty" isn't one that should go hand-in-hand with motherhood. But deep-rooted structural inequalities are causing women to save less for retirement when they become parents.

Mothers face a pension penalty of up to £183,000 by taking time out of work to raise children, according to analysis by the pensions and investment company Royal London...

A survey has revealed the energy gripes that cause the most arguments in British households...

Quitting your job to go travelling

You could be forgiven for feeling a twinge of jealousy when you see someone packing it all in to go travelling for a few months. 

Perhaps it's made you wonder if you could do the same thing yourself. 

Of course, it won't be realistic for everyone and the reality is it takes a lot of planning and saving. For many people during the cost of living crisis, it's simply not possible to save much, if at all.

But if you're wondering where to begin (and how much you might need to save), we've got some advice from two travel bloggers who have been there and done that...

By Brad Young, Money team

Earning up to £60,000 a year for letting Stormzy film a music video in your kitchen or Paloma Faith play with Lego in the living room might sound farfetched to homeowners unfamiliar with the shoot locations industry. 

But every star, studio or big brand that wants to film in a residential property needs someone willing to offer up their home for the day - and they'll pay between £700 and £3,000 for the privilege.

Homeowners and shooting agencies have spoken with the Money team about the promises and pitfalls of working with the likes of Disney, Netflix and ITV to take advantage of this niche income stream. 

Among them was Ed Reeve, a photographer from Hackney, who has had stars such as David Attenborough, Stormzy and Jim Broadbent walk through his doors in the 17 years he's been renting out his home. 

"It has been a really positive experience on the whole for us. Generally, the shoot crews are really lovely people and they're very respectful of your home," said Mr Reeve, who is registered with location agency 1st Option.

He hosts between 12 and 20 productions a year. Most bring in £1,000 for a one-day shoot, but some earn him up to £3,000 per day or last multiple days.

"We've met lots of interesting people," said Mr Reeve, including Gillian Anderson, who stars in Sex Education, Hugh Bonneville (Downton Abbey) and Claire Foy (The Crown).

After Stormzy filmed a music video, Mr Reeves said that "every grime artist wanted to shoot here".

David Attenborough once turned up early for a BBC shoot, resulting in the pair sitting down for a cup of tea and Mr Reeve introducing his three-day old daughter to the presenter.

"He held her and looked at her with delight... it was a really special moment," said Mr Reeve. 

Shoots can result in scratches around the interior, but Mr Reeve said he uses some of the money to redecorate – or in one case, let a Delux advert do it for him. 

'It's never free money'

Less enthusiastic about the industry was Emer Stamp, 48, a children's author from London, who has hosted for two years.

"You think, 'Oh yeah, my house is going to be rocking', and everyone comes round and goes 'Your house will be perfect', but for whatever reason, it's not.

"My takeout is it's not as easy to make money as you think."

Ms Stamp said her home had been chosen for three productions, including a Dell shoot and a Lego advert starring Paloma Faith, earning her approximately £6,000. 

Hosting also puts your schedule at the mercy of production companies – and sometimes they may not show up, said Ms Stamp.

"Like anything, you think it's free money but it's never free money."

So what does make a location popular? 

Becky Butler, managing director at agency Location Collective, said there is demand for average-sized family homes with a 60s/70s vibe and unusual features. 

And while a lot of the homes listed by location agencies look expensive, that was far from a deal-breaker. 

"All the practical side of things are as important, if not more so, than the aesthetics of the location," said Ms Butler.

Parking, easy-going neighbours and having one large room for equipment goes a long way with clients.

Getting the combination right can create "a fantastic additional income stream", said Jennifer Marshall, of Shootfactory, which has connected homeowners with everyone from Little Mix to Killing Eve. 

"We have properties that through our company have earned anywhere between £20,000 and £60,000 a year."

Much of the industry is based in London but, between them, the three agencies contacted by the Money team have organised filming in Manchester, Birmingham, the Midlands, the Home Counties and coastal areas.

Both Ms Marshall and the team at Location Collective said having a neighbour willing to get in on the action can be a real selling point.

This might mean a second house on the same street for a TV show, or simply somewhere to house the production team.

"Being able to let them pretty much take over is quite key. Sometimes they might have demands like painting or moving furniture," said Lily Gonnissen, head of business development at Location Collective. 

Being quick to respond to questions, contactable during the working day, and able to accommodate viewings at short notice was a top priority, said Ms Gonnissen. 

"Be friendly and welcoming - brands remember a good owner," said a spokesperson for 1st Option: "And make sure the house is clean and clutter free before any shoots."

The default tariff for prepayment meters is now cheaper than other types of meter.

It follows the energy price cap update to unit rates and standing charges from 1 April.

Uswitch data shows 56% of households don't know about the change.

What do you need to know?

Prepayment meters have traditionally been a more expensive way of paying for energy - but now prepayment standing charges have been lowered to match those for direct debit customers.

Because prepay units are cheaper, people with these meters should pay around £47 less a year than those on direct debits (£1,643 versus £1,690).

Customers who pay when they get a bill are forking out the most - around 5.8p more per day on the standing charge than those with direct debits.

Should we all get prepayment meters?

As energy costs come down, suppliers like EDF Energy have now started offering fixed deals lower than the price cap - and as things stand these are the cheapest options for many.

Eon Next's Pledge tariff promises to be 3% below whatever the price cap is for a year.

There can be catches if you want to leave these fixed deals (though Octopus doesn't charge them) - so make sure you do your research.

How many people have prepay meters?

The number of prepayment meters has fallen almost 8% from the peak in 2019, but there's still more than seven million gas and electricity units in action.

In total, 195,503 prepayment meters were installed in 2023.

Are people swapping?

Uswitch has some research that says young people (18 to 34) are far more likely to go for prepay meters - 51% would consider it, compared with 5% of over-55s.

Will Owen, energy expert at Uswitch, said: "Prepayment meters have got a bad reputation among some households, but changes to the price cap mean that their default tariffs are now cheaper than standard credit meters.

"With prepayment meters, you pay for your energy before you use it, and while there are emergency provisions, it does mean it is possible to be cut off if you have not put enough money into your account. 

"This means that younger consumers and vulnerable people are at greater risk of disconnecting themselves from their energy supply when money is tight.

"Direct debits also allow consumers to spread out their costs evenly throughout the year, meaning bills won't rise significantly in the winter when energy usage is highest."

We've had a mixed mailbag of comments this week - with readers getting in touch about pensions, tipping and divorce among other things.

Following this feature on divorce costs last weekend...

...we had dozens of comments...

So many people must be trapped in abusive relationships. A loan has helped me get away - covering legal costs, paying the bills/mortgage on marital home whilst being unable to stay and finding thousands for a rental. Costs so far about £8k - only one year in and at decree nisi. H

Since broken families are ever more common why isn't the government doing something to help divorcees get back on the housing ladder like first-time buyers are? Countless thousands, despite having the income, are doomed to rent expensive family homes. Men especially! Twice Divorced Of Surrey

Trust me, it costs a whole lot more than £30k, stay away from solicitors, work through it yourself. Toby

When one party will not communicate with the other, this makes the process much more expensive. Around £80k in solicitors and barrister fees. Vbkinguk

Another story that cut through was London restaurant chain Ping Pong scrapping tips - months before new legislation will require restaurateurs to give staff 100%.

Readers don't seem impressed...

Best thing employees and customers can do is boycott them. Just goes to show what they actually think of their staff. Dave

I don't want to eat somewhere that doesn't look after its employees. Jack

I'm sure patrons and staff will vote with their feet! How disgraceful to remove tips, probably as the owners aren't getting any cut of their staff's hard work! Elijah

We've reported extensively on the rise to the state pension this month - including how, due to frozen income tax thresholds, more pensioners will be dragged into paying income tax. Chris seems to be one of those impacted...

I deferred taking my state pension for five years to hopefully boost my pension, because I happened to be the last group of people to get the old state pension. Unfortunately because of the tax band freeze any benefit from the pension uplift is being eroded every year, is this fair? Chris

And finally, on Monday we suggested a cheaper way to buy herbs and spices in the supermarket - by using the world food aisle...

We had this comment...

Best money-saving practice for herbs and spices is to source them at Asian stores - not supermarkets! Pip

Spain is planning to scrap a "golden visa" scheme that grants residency rights to foreigners who make large investments in real estate.

Ending the scheme would help make access to affordable housing "a right instead of a speculative business", Spanish Prime Minister Pedro Sanchez said.

The programme awards non-EU citizens investing at least €500,000 (around £429,000) in Spanish real estate - without taking out a mortgage - a special permit, allowing them to live and work in the country for three years.

In better news for Britons who hope to live abroad, Italy is allowing non-EU citizens who can work remotely to apply for a year-long "digital nomad" visa.

There's a few salary/reference based criteria to meet - read about them here...

Labour this week tried to address questions over how it would pay for key pledges  after the Tories used their idea of scrapping the non-dom status to fund a national insurance cut.

Labour had been committed to abolishing non-dom status for years - upon gaining power they planned to use the money to fund breakfast clubs for primary school children and additional appointments in the NHS.

Shadow chancellor Rachel Reeves this week announced the party's plan to raise £5bn a year by the end of the next parliament...

• Labour said it would raise £2.6bn by closing "loopholes" in the government's non-doms plan - after certain exemptions were kept in place by Jeremy Hunt;
• Labour said the "tax gap" - the difference between the amount of money HMRC is owed and the amount it receives - had widened to £36bn in 2021-22 - £5bn more than it had been the previous year;
• To close the gap, Labour said it would invest up to £555m a year in boosting the number of compliance officers at HMRC, increasing productivity and improving the organisation's "dire" customer service;
• It would also consider requiring more tax schemes to be registered with HMRC to ensure they are legitimate, and renew the focus on offshore tax compliance.

The government responded by saying: "The Conservatives have introduced over 200 measures to clamp down on tax non-compliance and we are sticking to the plan to strengthen the economy so we can cut taxes, putting £900 in the pockets of the average worker and helping families to build a brighter future."

Shell is weighing up quitting the London Stock Exchange (LSE) for a move to New York over concerns its listing is currently "undervalued".

Chief executive Wael Sawan  told Bloomberg  that he was mulling "all options".

The British oil and gas giant is currently the largest company in the FTSE 100 index, and its departure from the LSE would be a significant blow to the UK stock market that is fighting to stay relevant.

There's been a run of bad news for the LSE over the past year or so. The world's largest building products manufacturer, CRH, moved to New York, while travel company Tui moved to Frankfurt. And despite the lobbying of numerous prime ministers, UK-based chip company Arm chose the NYSE.

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money.

It runs with live updates every weekday - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Monday with rolling news and features.

The Money team is Emily Mee, Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young and Ollie Cooper, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

UK lenders have seen a rise in defaults on mortgages and credit cards - with the trend expected to continue in the coming months, according to a survey.

A poll of banks and building societies by the Bank of England reveals lenders reported higher default rates on secured loans and unsecured lending in the three months to the end of February.

The rates for mortgages, credit cards and other loans, as well as loans to small to medium businesses, are all expected to rise in the next quarter.

The BoE carries out the survey every quarter as part of its role to maintain financial stability.

It also revealed increased demand for borrowing, with this also expected to climb during the three months to the end of May.

Karim Haji, global and UK head of financial services at KPMG, said the latest BoE data suggests "a more positive economic outlook hasn't fed through to household finances yet".

"Defaults across all unsecured lending increasing over the same three-month period indicates many people are still struggling to meet their day-to-day costs. Lenders will need to be vigilant and continue to offer support for borrowers in the interim," he said.

By  Sarah Taaffe-Maguire , business reporter

Poor software and bias toward making only small, sequential changes is one of the reasons economic forecasters at the Bank of England failed to predict and prepare for the cost of living crisis, brought about by high inflation, according to a "once in a generation" review.

The review announced last year was undertaken by the former head of the US central bank, known as the Fed, and said the quality of the Bank's economic expectations "deteriorated significantly in the past few years" due to out of date software and "excessive incrementalism".

Though the "unusually large forecasting errors" were said to be "probably inevitable", according to the review, conducted by Dr Ben Bernanke.

The problem was not unique to the Bank, rather something all central banks and private forecasters suffered from, it said.

Read the full story here...

After the UK airports with the worst delays were revealed earlier today (see post at 1.15pm), we've been looking at your rights.

If you're unlucky enough to get stuck at an airport due to a flight delay, you may wonder if you're entitled to any compensation.

The good news is you may be - in certain circumstances.

First, it's important to know what flights are covered by consumer law. These are: 

• Any flight leaving a UK airport
• Flights operated by a UK/EU airline arriving at a UK airport
• Flights operated by a UK airline only arriving at an EU airport

When will I be entitled to help? 

You'll qualify for support if a short-haul flight under 932 miles (1,500km) is pushed back by two hours. 

This rises to three hours for journeys up to 2,175 miles (3,500km).

For long-haul flights going any further than this, four hours or longer counts as a significant delay.

What support will I get?

Under UK law, airlines must give passengers who are affected by a delay of at least two hours:

• A reasonable amount of food and drink (usually provided in the form of vouchers)
• Refunds for the cost of two free phone calls, faxes or emails
• Accommodation for passengers stranded overnight (usually in a nearby hotel)
• Transport to a hotel - or their home

Will I get compensation?

Usually, airlines have to provide compensation if a person's flight arrives more than three hours late.

The exception to this is when there are air traffic control problems or extreme weather, as these issues aren't their fault.

If you agree to travel on a later flight, the airline is no longer obliged to offer food, drink or accommodation while you wait.

Thankfully, you are entitled to a full refund if you decide to abandon your journey after five hours of delays.

The length of your flight affects how much you are entitled to:

• Short-haul flight - £220
• Medium-haul flight - £350
• Long-haul flight - £520 if the flight arrived more than four hours late, £260 for a delay of between three to four hours

What if I'm about to travel?

Transfer passengers who end up missing a connecting flight because their first plane was delayed are entitled to a service back to their original departure point.

But things get a little more complicated for passengers on package holidays - especially if they decide not to travel on a delayed outbound flight.

The CAA's guidance says: "You may lose your holiday too, so we recommend you contact your package organiser or the airline for further information.

"If you still want to travel then your airline must get you to your destination. You might have to be patient while they rearrange transport and rebook passengers, but the law says they must get you there."

What if my flight is cancelled? 

You're entitled to a refund or replacement flight if yours is cancelled. Your rights to assistance are the same as if your flight is delayed.

If the reason for the cancellation was within the airline's control, and it was made with no more than 14 days' notice, then depending on the timings of the new flight offered you could also be entitled to compensation.

You'll be able to claim £110 and £520 depending on the length of the route and timings of the new flight.

Drivers are still feeling the strain of rising insurance premiums - but there are signs of a slowdown, according to one index.

New figures from insights firm Consumer Intelligence suggest the average quoted price of car insurance rose by 56.4% in the year to February.

This was the third-highest annual increase since its records began in 2012 - but in slightly better news for motorists, it marked a lower annual rise than the 67.2% recorded in November.

And there was only a slight rise of 0.5% when looking at the three months to February - the lowest quarterly increased since November 2021.

Drivers most commonly received a quote between £500 and £749 in February, Consumer Intelligence said. It analysed the average of the five cheapest offers from price comparison websites.

Max Thompson, the firm's insurance insight manager, said big insurance brands made "competitive movements" to reduce premiums at the start of the year.

"However, some of this was unwound in February indicating it may have been more of a tactical move than a long-term trend," he added.

Jonathan Fong, manager of general insurance policy at the Association of British Insurers, said insurers were "aware of the financial challenges customers are facing" and were working to keep prices affordable.

"Our motor premium tracker is the only collection based on the price customers pay for their policy, rather than quotes, and shows that the average motor premium increased by 25% last year to £543.

"This was largely driven by above inflation increases in the cost of repairs, thefts and replacement cars."

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