Save 6.4% buying online vs. the airport
0 Comments
MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market XE rate | % Margin applied by provider |
|---|---|---|---|---|
| TravelFX | 1.1444 | 686.64 | 1.1586 | 1.23 |
| ICICI Bank | 1.1390 | 683.40 | 1.1586 | 1.69 |
| Travelex | 1.1380 | 682.80 | 1.1586 | 1.78 |
| Barclays | 1.1081 | 664.86 | 1.1586 | 4.36 |
| Natwest | 1.1072 | 664.32 | 1.1586 | 4.44 |
| Travelex - Heathrow Departures | 1.0732 | 643.92 | 1.1586 | 7.37 |
| Moneycorp - Gatwick Departures | 1.0702 | 642.12 | 1.1586 | 7.63 |
Key Findings
- British Holidaymakers can save up to €45 on every £600 worth of holiday money purchased online
- Findings show that Airport Bureaus and High Street Banks apply margins of nearly 6.4% 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 10.30am-10.45am, 28th August 2013
Written by Sofia Kluge on Google+
