Cape Verde offers great value for money compared to many tropical destinations. While it’s not as cheap as parts of Asia, it’s generally more affordable than the Caribbean. Expect to pay moderate prices for food, drinks and activities, a main meal costs around £10–£15, a local beer £2, and a taxi between £5–£10 depending on distance. All-inclusive resorts dominate the islands, but eating locally and avoiding resort mark-ups can save a lot.
Compare The Best Ways To Spend Money On Holiday In Cape Verde
One of the cheapest ways to spend money on holiday is to use a currency card, as they offer better exchange rates than normal bank accounts.
| Name | Logo | EUR Mark-Up | USD Mark-Up | GMG Rating | User Reviews | CTA | Feature | Expand |
|---|---|---|---|---|---|---|---|---|
 | EUR Mark-Up 0.33% | USD Mark-Up 0.25% | GMG Rating | User Reviews | Account Types:
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| | EUR Mark-Up 0% | USD Mark-Up 0% | GMG Rating | User Reviews | Account Types:
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| | EUR Mark-Up 0.13% | USD Mark-Up 0.29% | GMG Rating n/a | User Reviews | Account Types:
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| | EUR Mark-Up 0.13% | USD Mark-Up 0.29% | GMG Rating n/a | User Reviews | Account Types:
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| | EUR Mark-Up 0.5% | USD Mark-Up 0.5% | GMG Rating | User Reviews | Account Types:
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Buying travel money before you go on holiday is also a great idea, as cash is still king in some places and great for tipping whilst on holiday.
| Provider | EUR You Buy | Selling GBP | Mid-Rate | Provider Rate | Mark-Up % | Mark-Up Fees |
|---|---|---|---|---|---|---|
| Morrisons | €575.55 | £500.00 | 1.1731 | 1.1511 | 1.91 | €11.00 |
| Ramsdens | €575.54 | £500.00 | 1.1731 | 1.1511 | 1.91 | €11.01 |
| TUI | €575.45 | £500.00 | 1.1731 | 1.1509 | 1.93 | €11.10 |
| John Lewis | €575.20 | £500.00 | 1.1731 | 1.1504 | 1.97 | €11.35 |
| Sterling FX | €575.15 | £500.00 | 1.1731 | 1.1503 | 1.98 | €11.40 |
| Hays | €575.00 | £500.00 | 1.1731 | 1.1500 | 2.01 | €11.55 |
| Tesco | €574.90 | £500.00 | 1.1731 | 1.1498 | 2.03 | €11.65 |
| ASDA | €574.85 | £500.00 | 1.1731 | 1.1497 | 2.04 | €11.70 |
| Eurochange | €574.80 | £500.00 | 1.1731 | 1.1496 | 2.04 | €11.75 |
| Sainsburys | €574.20 | £500.00 | 1.1731 | 1.1484 | 2.15 | €12.35 |
| Change Group | €573.75 | £500.00 | 1.1731 | 1.1475 | 2.23 | €12.80 |
| Travelex | €573.40 | £500.00 | 1.1731 | 1.1468 | 2.29 | €13.15 |
| No1 Currency | €573.40 | £500.00 | 1.1731 | 1.1468 | 2.29 | €13.15 |
| Post Office | €573.10 | £506.00 | 1.1731 | 1.1462 | 3.58 | €20.49 |
| Natwest | €568.50 | £500.00 | 1.1731 | 1.1370 | 3.18 | €18.05 |
| RBS | €568.50 | £500.00 | 1.1731 | 1.1370 | 3.18 | €18.05 |
| M&S | €567.30 | £500.00 | 1.1731 | 1.1346 | 3.39 | €19.25 |
| HSBC | €560.80 | £500.00 | 1.1731 | 1.1216 | 4.59 | €25.75 |
| Barclays | €559.95 | £500.00 | 1.1731 | 1.1199 | 4.75 | €26.60 |
If you need to send a little bit of money to friends and family on holiday, a money transfer app can give you the best rate, and many often have special offers for new customers.
| Name | Logo | Currencies | Min – Max | GMG Rating | User Reviews | CTA | Feature | Expand |
|---|---|---|---|---|---|---|---|---|
| | Currencies 40 | Min – Max £1 – £1m | GMG Rating | User Reviews | Account Types:
| Wise won “Best Money Transfer App” in the 2024 Good Money Guide Awards because of its low costs, simple-to-use app, and range of currencies. Wise Won Best Money Transfer App in the 2025 Good Money Guide AwardsProvider: Wise Verdict: Wise is one of the best (and cheapest) money transfer apps for sending currency abroad since it pioneered peer-to-peer (P2P) low cost international payments. Wise helps people send money abroad for much less than it would cost to do it through a high street bank. It was launched as TransferWise in 2011 as a P2P currency network, but has since grown to provide money transfers to over 15 million customers sending more than £9 billion a month. Is Wise a Good Money Transfer App?
But in a nutshell… Should you use Wise? Yes. Is it cheap? Yes. Is it easy to use? Yes. Is it safe? Yes. Since Wise was founded back in 2011, I’ve followed its progress. There are many firms that shout loudly about wanting to disrupt an industry. But most of the time, it’s marketing hyperbole. However, in Wise’s case, it has disrupted how we send money around the world – by making it cheap and making it easy. The only reason not to use Wise is if you already bank with Starling, as the fees are pretty similar and you probably don’t want another app on your phone if you don’t need it. Truly DisruptiveA few years ago, before Wise was founded, I wanted to send €30 to a friend in Munich. It was an absolute nightmare. I was banking with NatWest, which wanted £20 as a minimum fee for sending the money to a European bank account. Next I tried PayPal – still expensive. So I withdrew €30 in cash from a Euro cash machine in London, put it in an envelope and sent it through the post. The only other option was the inconvenience of visiting a Western Union shop. Thankfully along came TransferWise. It was a boom time for money transfer apps but this one had the best story: it was circumventing “evil” banks by transferring money abroad using P2P networks. If you needed to transfer €30 to Germany, it matched you with someone in Germany who wanted to transfer €30 to England. No need to do any FX, and therefore less in fees to pay. It also had fantastic marketing – for example stripping off to the pants in front of the Bank of England to protest “rip-off” banking charges. It was a stroke of genius, really, as British people love seeing naked people, and hate banks. Of course liquidity gaps need to be filled when there isn’t someone on the other side of your transaction and TransferWise used firms like Currency Cloud (now owned by Visa) to ensure that customers always got the best price. Richard Branson was also an investor. So there you go. Over the years, Wise as grown by being easy to use and charging low fees. How Does Wise Work?Wise offers international money transfers and a multi-currency account with a pre-paid card. You can send 40+ currencies to 160+ countries, and hold 40+ currencies in a Wise account. You can pay into your Wise account by debit card, credit card or bank transfer. If you have funds in a multi-currency account, you can use those to fund a transfer when sending money abroad. And you can choose to lock in a rate for up to 48 hours. Wise says international transfers typically arrive in seconds. Wise matches up buyers and sellers of currency in different countries, rather than physically transferring money internationally. Wise Customer ServiceWe’ve marked Wise down a bit as it doesn’t provide a telephone number. This is fine for small transactions but if you’re sending a large amount of money abroad, you may be better off using a currency broker. Wise does offer a call back service for amounts over £80,000, though. With a broker, you can phone up an account executive or dedicated dealer, who can provide updates on your transfer or help out immediately with any issues. But all in all, Wise customer support, is fairly efficient. Is Wise Safe?Wise is about as safe as you can get for sending small amounts of money abroad. Wise is not a bank – it doesn’t have a banking licence in the UK but is authorised by the Financial Conduct Authority as an “e-money business”, which means funds are ring-fenced but not protected by the Financial Services Compensation Scheme (FSCS). Wise is listed on the LSE (LON:WISE) with at market cap of around £9.6 billion, as at January 2026. That is well up from where it was at its IPO, but even though lots of tech firms listed in 2021, it was a pretty bad time to come to market, and most have performed poorly since then because of overall market conditions and over ambitions venture capitalists wanting a return on their investments. So the stock markets also think Wise is pretty good. Since TransferWise launched, the group has grown to provide money transfers to over 15 million customers sending more than £12 billion a month. It’s a shame it is planning on ditching the London stock markets for the glamour of high valuations in the US. Using a listed app is helpful as you can see how it’s faring financially. If the Wise share price starts to go down, this could indicate potential financial problems and be a sign to switch to a different app. Apps & PlatformWise makes it incredibly easy to transfer money abroad – the app is really simple to use. If you have a large amount of money to send, you’re better off with a currency broker because they can help with market timing and lock in exchange rates with forward contracts and currency options. Plus if you ask nicely and are transferring enough money, a broker might undercut Wise’s exchange rates and fees. Remember, that in FX, everything is negotiable. Wise is also venturing into other products, like multi-currency bank accounts and investing. PricingWise is among the cheapest money transfer apps and it displays the fees clearly on the website and app, but it’s not the absolute cheapest. We found Atlantic Money offering GBP-USD transfers at the interbank rate plus £3. But I suspect that isn’t sustainable and it’s only one corridor, while Wise offers 21 currencies. If you want to know more about Atlantic Money, you can read my interview with the founders, Neeraj Baid and Patrick Kavanagh (who helped build Robinhood), and make up your own mind about the service. Research & AnalysisWise doesn’t really have any currency forecasts, which is fine because exchange rates are hard to predict. But it would be nice to have at least some commentary on the markets. We’ve given Wise a mid-ranking for research and analysis as it does provide lots of excellent guides online and has a good insight tab on the app which can help you see where your account money is being spent. If you want currency forecasts, you can read our regularly updated analysis of whether now’s a good time to buy USD or EUR. Is Wise a Bank?No. The company does not hold a UK banking licence and your balance is not protected by the FSCS. However, like a bank, Wise will pay you interest on your cash balances at arate of 3.32% on GBP, 1.72% on EUR and 3.51% on USD, Wise is primarily a low-cost international money transfer app that allows you to save money when sending money abroad. However, Wise provides some of the features that banks also provide, such as holding and exchanging multiple currencies, and sending and receiving payments. And you can have a multi-currency account with a pre-paid debit card. The firm is authorised as an “e-money” provider, which means your money has some protection but not as much as it would have with a bank. Money in bank accounts is protected by the FSCS guarantee, which covers balances up to £120,000 per eligible person, per bank. Wise lets customers send payments to more than 160 countries and spend internationally with the Wise card. Local bank details are provided for up to 9 currencies including US dollars, pounds sterling and euros. If you are looking for a bank account in the UK, you can see a list of current bank account switching offers here. Pros
Cons
Overall4.2 | ||
| | Currencies 36 | Min – Max £1 – £250k | GMG Rating | User Reviews | Account Types:
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| | Currencies 100+ | Min – Max £1-£75k | GMG Rating | User Reviews | Account Types:
| Remitly Review Provider: Remitly Verdict: Remitly is a low-cost money transfer app that was founded in 2011. Since then it has grown to service over 4.5 million active customers transferring money to 13 different countries. Remitly went public in 2021, and it’s shares are listed on the NASDAQ exchange valuing the company at around $4.9bn. Summary Remitly is a cheap and easy way to send small amounts of money abroad. Especially if you are a new customer, as you get better exchange rates on your first £1,000 sent abroad. Pros
Cons
Overall3.8 | ||
| | Currencies 130+ | Min – Max £1 – £375k | GMG Rating | User Reviews | Account Types:
| Xe Money Transfers Expert ReviewProvider: Xe Verdict: Xe started off life as an online currency conversion calculator, then started flogging the data to currency transfer providers, then in 2002 decided to compete with all it’s customers and offer online money transfers (which it provides through HiFX in the UK. At the time, HiFX was one of the largest money transfer providers in the UK, but as Xe.com is one of the largest currency conversion calculators in the world (in the top 500 websites by traffic) HiFX decided to rebrand to Xe. Is Xe a good international money transfer app? Xe is a good option if you are looking for cheap no no-frills, small to medium-sized currency transfers from a trusted and well-established brand. However, if you have a large amount of currency to transfer and need personal service, you are better off with a currency broker. I’ve always liked Xe.com, the website has always been an excellent resource for currency information. But ever since they were bought by Euronet under their HiFX brand in 2017 you can now use them for international currency transfers. They offer loads of currencies, a slick app, and the ability to send money by debit, credit card and bank transfer to other bank accounts, to be picked up as cash or to a mobile wallet. As international payments have grown in popularity you can also use them for business international payments. Is Xe cheap for international money transfers? I’m not sure Xe is as cheap as it used to be. When I was testing the app it looks like Xe exchange rates are around 1% from the midmarket. When I requested some quotes, the midmarket was 1.3294 for GBPUSD, and Xe quoted me 1.3186. Doing it the other way round, the USDGBP rate was 0.7522 and Xe quoted 0.7458 (about 0.85%) away from the mid-market. It’s a bit frustrating that money transfer apps are still hiding fees in the exchange rate market up (read my guide on how to compare exchange rates here). Especially when it says there is no send fee. Granted, “Send Fee” and “Exchange Rate Market Up” are two different things, but it still stinks.
Is Xe safe for money transfers? Yes, we rate Xe.com as a safe way to send money abroad as they have been established since 1995, owned by a larger parent company and are authorised by the Financial Conduct Authority under the Payment Services Regulations 2017, registration 462444, for the provision of payment services. Who owns Xe.com money transfers? Xe.com is ultimately owned by Euronet Worldwide Inc, which is a public company listed on the NASDAQ with the ticker code EEFT. Xe.com is managed by HiFX, which acquired XE.com in 2017. Prior to this HiFX only offered money transfer services for business, but the acquisition enabled them to offer individual currency transfers. You can see thier share price and how much they are worth below.
Pros
Cons
Overall3.8 | ||
| | Currencies 130 | Min – Max £1 – £50k | GMG Rating | User Reviews | Account Types:
| Western Union ReviewProvider: Western Union Verdict: Western Union lets you send money to more than 200 countries around the world. It was founded in 1851 in Rochester, New York, and was named the Western Union Telegraph Company when the New York & Western Union Telegraph Company merged with the rival New York and Mississippi Valley Printing Telegraph Company in 1856. It was a pioneer in transmitting telegrams and in 1871 it introduced a money transfer service through its extensive telegraph network. It stopped sending telegrams in 2006 and now offers money transfers to almost every country in the world. Today it has 150 million retail and digital customers with its headquarters in Denver, Colorado. Summary Western Union has made a real effort recently to modernise it’s app and reduce exchange rates and fees to compete with new start-ups. Still, one of the best ways to send cash abroad and now very competitive for smaller electronic transfers. Pros
Cons
Overall4.1 |
If you are buying a holiday home or moving abroad permanently a currency broker can give you great exchange rates on large international money transfers as well as provide advice on how to best send a large amount of money abroad.
| Name | Logo | Currencies | Currency Forwards | GMG Rating | Customer Reviews | CTA | Tag | Feature | Expand |
|---|---|---|---|---|---|---|---|---|---|
| | Currencies 30+ | Currency Forwards 24 Months | GMG Rating | Customer Reviews | Exclusive Offer | Account Types:
| *Good Money Guide users who register before the end of June 2026 will receive £50 in online vouchers of their choice, when they trade £20,000 or more. T&C’s Apply. Halo Financial gives personal service and bank beating exchange rates for large currency transfersProvider: Halo Financial Verdict: Halo Financial is a UK-based foreign exchange specialist that provides international money transfer services to both personal and business clients. Authorised by the Financial Conduct Authority (FCA) as an authorised payment institution, the firm has been operational for over a decade and is known for its personalised currency services. Halo Financial recently aquired Corpay private clients, that was previously owned by Global Reach. Is Halo Financial a good currency broker? Yes, we rate Halo Financial as one of the best and most efficient ways for individuals and companies to transfer money internationally, quickly and cheaply. Halo focuses on helping clients manage foreign currency exposure by offering competitive exchange rates, risk management strategies, and guidance from experienced currency consultants. For private clients, Halo Financial is best suited for individuals making large international transfers, such as purchasing property overseas, emigrating, or transferring pensions. Unlike app-based fintech platforms that prioritise speed and automation, Halo offers a more bespoke service model. Clients are assigned a dedicated account manager who can provide market insight, assist with timing trades, and set up forward contracts or limit orders. This approach appeals to those looking for guidance rather than a purely DIY platform. On the corporate side, Halo supports businesses with regular international payments, invoice settlements, and hedging strategies. The firm works closely with industries such as legal, property, and logistics, offering tailored solutions and currency planning tools. This makes it a viable alternative for SMEs that want access to currency market expertise without the overhead of in-house FX management. In terms of pricing, Halo Financial generally provides more competitive rates than high-street banks, but fees and margins can vary depending on the size of the transfer and the currency pair. Unlike fixed-fee platforms, Halo’s model is quote-driven, so customers should request a live quote to compare with other providers. While their website offers educational resources and market commentary, it lacks the instant online execution found in digital-first competitors. Overall, Halo Financial stands out for its personal service, currency expertise, and commitment to helping clients navigate the FX market. It’s a strong option for individuals and businesses who prioritise human support and strategic guidance over rapid app-based transfers. Pros
Cons
Overall4.5 | ||
| | Currencies 40 | Currency Forwards 24 Months | GMG Rating | Customer Reviews | Account Types:
| TorFX Expert Review: Best Currency Broker 2025Provider: TorFX Verdict: TorFX is a currency specialist and currency broker founded in 2004 offering foreign exchange conversion services in 40 currencies. TorFX converts and transfers around £7.5 billion a year and is based in Cornwall, UK. Should you send money abroad with TorFX?
Prior to that, TorFX won “Best Currency Forward Provider” in 2023 for their 24-month forwards for people wanting to lock in current exchange rates for up to 1 year in advance. TorFX customer reviews speak for themselves, a low-cost way to transfer money internationally at a bank-beating exchange rates and expert advice on timing the process. A good choice if you are buying a property abroad and want bank-beating exchange rates and personal service to help with the transfer. Pros
Cons
Overall4.7 | |||
| | Currencies 40+ | Currency Forwards 12 Months | GMG Rating | Customer Reviews | Account Types:
| Currencies Direct offers great exchange rates and personal serviceProvider: Currencies Direct Verdict: Currencies Direct offer a good service for large international money transfers. They are a well-established and competitive currency broker for buying a property abroad or for international business payments at bank-beating exchange rates. They were founded in 1996 and are now part of a group that processes around £10bn in international money transfers per year. Are Currencies Direct a good currency broker? Yes, in our 2024 and 2023 awards Currencies, Direct won “best currency broker”. They scored very highly in our customer survey, with very high scores in customer satisfaction and pricing. Currencies Direct is also a well-established provider founded in 1996 and has 22 offices around the world. Currencies Direct offer a good service for large international money transfers. They are a well-established and competitive currency broker for buying a property abroad or for international business payments at bank-beating exchange rates. If you need to send a large amount of money abroad Currencies Direct can give you advice on the timing of a transfer and also get you bank beating exchange rates. I’ve been dealing with currency brokers for nearly two decades now. Initially, when I was a prime broker doing currency conversions for institutions, but also as a currency broker myself doing conversions for people buying holiday homes. In this Currencies Direct review I give our ratings based on their nearest peers, and tell you what we think of them after testing them thoroughly. Plus highlight the key costs, facts and figures of their accounts. A friend recently sent me a WhatsApp asking me what I thought of Currencies Direct. He even included a link to our old review, so clearly, it’s time for an updated version. Instead of long-winded musings on the currency transfer industry or AI generated SEO (or SEM, search engine manipulation as I like to call it), I thought I’d do this review as a series of FAQs about Currencies Direct to provide short and relevant answers to potential questions people who are considering using them may ask. Why you ask? Well, I’ve been in the currency markets for about 20 years, as both a wholesale currency prime broker and a private client currency broker and these are the questions that people generally asked… This is pretty much how our conversion went when we discussed Currencies Direct over coffee later that afternoon. What does Currencies Direct do? It helps you transfer large amounts of money from one currency and country to another. What about small amounts of money, is it only for large transfers? You can send small amounts of money, but to be honest, Currencies Direct is more for larger foreign exchange transactions. A typical customer may be someone buying a holiday home with a couple of large currency transfers for the purchase and then a few recurring smaller transfers afterwards for bills etc. But can I still send smaller amounts? Yes, but if you are only sending smaller amounts, you are better off with a money transfer app. Why is it better for large amounts then? When you send large amounts of money abroad, you need to think about two things. What the exchange rate will be, and when to send it. Currencies Direct will give you better exchange rates than a bank, and you get more control over when you do the conversion. How? You get better exchange rates because the “spread” or “mark up” Currencies Direct charge is better than the banks. Sometimes by about 4%. Huh? If you send £100,000 with your bank, the exchange rate markup can be up to 4% so it will cost you about £4,000 in fees. With Currencies Direct, it should be around £250. My bank told me there were no fees for sending money abroad. Well yes, there are no fees charged to you as commission, but they are included in the spread. Do Currencies Direct charge a fee? They don’t charge additional fees. They make their money on the exchange rate spread. What’s the spread? The spread is the difference between where a currency broker buys the currency and where you buy the currency. So they mark my price up rather than charge fees? Yes, take a look at our guide on how to compare exchange rates and come back? Ok, fine, I’m up to date. But how do I know they are going to give me the best exchange rate? Just ask them – say verbatim “how far as a percentage will my price be from the mid-market?”. They should give you an answer as a percentage. The more money you want to transfer the lower the percentage will be. Whatever they come back with, ask for less – remember everything is negotiable. If they can’t give you a straight answer, just look for another currency broker that can. No, I mean, how do I know this is the best time to convert money at the current exchange rate? You don’t, nobody knows where exchange rates will be in the future. What about currency forecasts and predictions? They have educated guesses at best. When it comes to foreign exchange it’s very easy to protect yourself from losing money, but very difficult to make money from trying to predict exchange rates. Ok, fine, but I’m buying a villa in Spain at the moment and I need to pay for it in 6 months and I think now is a good time to buy Euros. Can they help me lock in the currency exchange rate? Yes, that’s very good question and bravo for thinking of hedging your upcoming currency exposure? What? Sorry, yes you can buy Euros now with a currency forward contract. You can lock in the current Euro exchange rate for up to 12 months with Currencies Direct. Great – but, there is a bit of a snag, I am selling a UK property that won’t complete for a couple of month so can’t afford all the Euros just yet. That’s fine, when you use a currency forward you only need to put down a small deposit on the full amount you buy. Usually around 10%. But is my money safe with Currencies Direct? Yes, Currencies Direct are authorised by the FCA, so they have to keep client funds separate from their money. These accounts are segregated and the money is protected if they or their bankers go bust. But unlike banks and investment accounts there is no FSCS protection. Is it a big company then? Yes, Currencies Direct was founded in 1996, they have over 500 employees, and processed about 550,000 payments last year, totalling £10bn. Blackstone also invested £150m in Currencies Direct. What’s Blackstone? They are a massive private equity firm that invests in all sorts of things, they have about $10 trillion of investments. Ok, fine. But how does Currencies Direct work? You open an account here by requesting a quote through their website or registering online. Then they will assign someone to look after your account who will help you with the transfer. Do I have to transfer money over the phone or can I do it online? You can do up to £25k online, but, one of the main benefits of using a currency broker like Currencies Direct is that you get someone to actually talk to. Most people find this helpful when transferring large amounts of money abroad. Thanks, Pleasure. You may also enjoy our interview with the CEO of Currencies Direct, Marc Morley-Freer. Pros
Cons
Overall4.6 | |||
| | Currencies 50+ | Currency Forwards 12 Months | GMG Rating | Customer Reviews | Account Types:
| OFX can get you bank beating exchange rates on large currency transfersProvider: OFX Verdict: OFX is a leading currency broker offering currency services to more than 170 countries around the world. Originally known as OzForex, it was launched by Matthew Gilmour in 1998 as an information only website. Since then, it has grown rapidly handling more than AUD$2000bn transfers for more than a million individual and business customers worldwide. Is OFX a good currency broker? Yes, we rate OFX as a very good currency broker as they offer discounted exchange rates, personal service for individual buying a property abroad of for businesses needing more complex services like integrated Amazon payments or currency hedging strategies. OFX offer a great way to time and save money on large currency transfers for either foreign property purchases international moves or for business transactions. If you have a large currency conversion coming up OFX can help you reduce costs when buying a holiday home abroad, or moving to another country. These key benefits of using a currency broker like OFX for international property purchases are: Better exchange rates Control over the price and time of the conversion Personal support OFX Offer Competitive Exchange Rates Pros
Cons
Overall4.6 | |||
| | Currencies 35+ | Currency Forwards 12 Months | GMG Rating | Customer Reviews | Account Types:
| Clear Treasury Expert Review: Best Business FX Provider 2025Provider: Clear Treasury Verdict: Clear Treasury is a foreign exchange (FX) and risk management provider that supports businesses across diverse industries, such as agriculture, tech, and hospitality, by offering tailored currency strategies. Summary Clear Treasury takes a holistic approach to understanding each client’s business model, risk tolerance, and operational goals, integrating technology and expertise to deliver tailored solutions. Their services cater primarily to companies with an annual FX turnover ranging from £500,000 to £30 million, helping clients manage currency volatility, hedge against adverse market shifts, and optimize cash flow in global operations. Pros
Cons
Overall4.6 |
What Is the Currency of Cape Verde
The official currency is the Cape Verdean Escudo (CVE). The escudo is pegged to the euro at a fixed rate, so EUR is the most widely accepted foreign currency. Some tourist areas may accept euros directly, but you’ll get change in escudos. USD and GBP are not widely accepted, so it’s best to convert your money to escudos or euros before you travel.
How Much Spending Money Will You Need in Cape Verde
For a week’s holiday, plan to budget around £350–£500 per person for food, drinks, excursions, and tips if you’re not all-inclusive. If you’re staying in self-catering accommodation, factor in a bit extra for groceries, which are more expensive due to imports.
Five Tips on Saving Money When Travelling to Cape Verde
- Book all-inclusive packages – they often work out cheaper than paying for meals separately.
- Use a currency card with no foreign transaction fees instead of exchanging cash at the airport.
- Withdraw in larger amounts from ATMs to avoid repeated withdrawal fees.
- Eat where locals eat – local restaurants in towns like Santa Maria or Mindelo are half the price of resort dining.
- Avoid airport exchanges – always compare online rates before you travel to get a better deal.
How Do You Pay for Things in Cape Verde?
The best way to pay is with a travel money card that supports free foreign spending and low-cost ATM withdrawals. Visa and Mastercard are widely accepted in hotels and larger shops, but cash is still needed for taxis, markets and rural areas. Avoid dynamic currency conversion, always pay in the local currency (CVE) for the best rate.
Comparing the Best Currency Cards for Cape Verde
Currency cards such as Wise, Revolut, and Travelex Money Card let you spend in escudos at near-market exchange rates. They can be loaded in advance and managed via app, making them safer than carrying large amounts of cash. Compare fees, top-up limits, and whether the card locks in rates or uses live conversions.
How Much Money Should You Budget to Take to Cape Verde?
Budget travellers can get by on £50–£70 a day, mid-range travellers should expect £100–£150 a day, while luxury holidays with excursions and fine dining could reach £200+ a day.
Comparing the Best Travel Money Cash Rates for Cape Verde
If you prefer cash, compare rates from providers like the Post Office, John Lewis, and Tesco Bank before you go. Rates are usually better online than in-branch or at airports. Order in advance for home delivery or click-and-collect at your local branch.
Is Cape Verde Cashless?
Not entirely. While resorts and large restaurants accept cards, smaller shops, taxis, and market stalls often only take cash. Always carry some escudos or euros for small purchases or tips.
How Much Cash Should You Take to Cape Verde? Is It Safe?
Cape Verde is generally safe, but it’s sensible not to carry large sums of cash. Around £100–£150 in cash is usually enough to cover tips, taxis, and local purchases. Use hotel safes where possible, and rely on cards for larger payments.
Comparing the Best Currency Brokers for Sending Money to Cape Verde
If you’re buying property or transferring a large amount, specialist brokers such as Wise, Currencies Direct, or Moneycorp can offer far better exchange rates and lower fees than banks. They also provide rate alerts, forward contracts, and secure payment options for property transactions.
How to Get the Best Exchange Rate for Cape Verdean Escudos
Always compare online before exchanging. Currency brokers and multi-currency cards usually offer interbank or mid-market rates. Avoid exchanging at airports or hotels where rates are poor and fees high.
What’s the Best Currency to Take to Cape Verde?
Take euros if you can’t get escudos in advance. Euros are easily exchanged in Cape Verde and accepted in many tourist spots. GBP and USD will need to be converted after arrival, often at less favourable rates.
Is It Better to Bring Cash or a Currency Card to Cape Verde?
A currency card is safer and usually cheaper. Carry a small amount of cash in euros or escudos for small purchases, but use a card with no foreign transaction fees for most spending.
Should You Buy Cash at the Airport for Cape Verde?
No, airport exchange rates are among the worst. Plan ahead, order online, or use a travel card to lock in competitive rates before you fly.