Airports take 9.66% of your Euros
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MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market XE rate | % Margin applied by provider |
|---|---|---|---|---|
| TravelFX | 1.1694 | 701.64 | 1.1854 | 1.35 |
| ICICI Bank | 1.1612 | 696.72 | 1.1854 | 2.04 |
| Travelex | 1.1545 | 692.70 | 1.1854 | 2.60 |
| Barclays - High Street | 1.1268 | 676.08 | 1.1854 | 4.94 |
| Natwest - High Street | 1.1231 | 673.86 | 1.1854 | 5.25 |
| Travelex - Heathrow Departures | 1.0689 | 641.34 | 1.1854 | 9.82 |
| Moneycorp - Gatwick Departures | 1.0709 | 642.54 | 1.1854 | 9.66 |
Key Findings
- British Holidaymakers can save up to €59.10 on every £600 worth of holiday money purchased online
- Findings show that Airport Bureaus and High Street Banks apply margins of nearly 9.7% on the ‘true mid-market exchange rate’
- 0% commission should largely be ignored when trying to distinguish between a good or bad travel money deal
- exchange rates are the key indicator to obtaining the fairest deals on travel money
- MyTravelMoney.co.uk desk research finds that buying online for collection at airport is substantially cheaper than purchasing at airport
- Home delivery of currency is the cheapest and fairest overall deal for holidaymakers
Data collated is true to live recordings of rates between 2.30pm-2.45pm, 4th September 2013
Written by Sofia Kluge on Google+
