Why earning Avios with Moneycorp at Terminal 5 is not a great idea
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I posted a couple of weeks ago that American Express Currency Exchange had resigned from its positions in Heathrow Terminal 5. These booths, including the one in the British Airways lounge, are being replaced by Moneycorp.
The good news – if you are spending your employers money – is that Moneycorp is awarding Avios points for walk-up purchases at the rate of 1 Avios point per £1 exchanged.
The bad news is that Moneycorp is NOT giving Avios for pre-ordered currency. American Express Currency Exchange remains the exclusive British Airways partner for pre-ordered currency. However, it is now impossible to collect pre-ordered currency from Amex in Terminal 5.
How BA got itself into this mess I will never know. The best way to earn Avios from pre-ordered currency is now to book yourself on an airline other than BA, since Amex Currency Exchange still has booths in the other Heathrow terminals!
You should never, ever buy currency at Heathrow as a walk-up purchase if you are spending your own money. The rates are so poor it beggars belief. The Travelex as you come through Terminal 5 passport control seems especially poor, with a ludicrously huge spread of around 20% IIRC. I pity anyone who effectively pays Travelex £50 for changing £500 of $ or Euro into Sterling.
Your options for earning Avios from foreign currency are therefore (assuming you are flying from Terminal 5):
Use the Amex website (www.travelmoneynow.com/britishairways) and have currency delivered to your home or office. Amex is still charging this as a purchase on Amex-issued Amex cards, which is a fantastic extra bonus.
Use Moneycorp at Terminal 5 as a walk-up – strictly not recommended due to the poor rates
Earn no Avios and pre-order from Travelex or Moneycorp for Terminal 5 collection. You should still earn Heathrow Rewards points at the rate of 1 per £10 spent.
Details of BA’s new and confusing relationship with Moneycorp and Amex can be found here at ba.com.
How to earn Avios from UK credit cards (April 2024)
As a reminder, there are various ways of earning Avios points from UK credit cards. Many cards also have generous sign-up bonuses!
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
Barclaycard Avios Plus Mastercard
Get 25,000 Avios for signing up and an upgrade voucher at £10,000 Read our full review
Barclaycard Avios Mastercard
5,000 Avios for signing up and an upgrade voucher at £20,000 Read our full review
There are two official British Airways American Express cards with attractive sign-up bonuses:
British Airways American Express Premium Plus
25,000 Avios and the famous annual 2-4-1 voucher Read our full review
British Airways American Express
5,000 Avios for signing up and an Economy 2-4-1 voucher for spending £15,000 Read our full review
You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points. These points convert at 1:1 into Avios.
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review
The Platinum Card from American Express
40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review
Run your own business?
We recommend Capital on Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 10,500 Avios.
SPECIAL OFFER: Until 12th May 2024, the Capital on Tap Business Rewards Visa card is offering a bonus of 30,000 points, convertible into 30,000 Avios. You must have a Limited Company to apply. Click here to learn more and click here to apply.
Capital on Tap Business Rewards Visa
Huge 30,000 points bonus until 12th May 2024 Read our full review
You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 30,000 Avios sign-up bonus.
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
There are also generous bonuses on the two American Express Business cards, with the points converting at 1:1 into Avios. These cards are open to sole traders as well as limited companies.
American Express Business Platinum
40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review
American Express Business Gold
20,000 points sign-up bonus and FREE for a year Read our full review
Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.
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