Travel Money Mystery Shop – Only 1% Markups when you buy online

Travel Money Mystery Shop – Only 1% Markups when you buy online

MyTravelMoney.co.uk Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market Rate% Margin applied by provider
Travel FX - Online1.1783706.981.19021.00
Moneycorp - Online1.1699701.941.19021.70
Travelex - Online1.1550693.001.19022.96
Natwest- High Street1.1270676.201.19025.31
Barclays - High Street1.1158669.481.19026.25
Travelex - Heathrow1.0693641.581.190210.16
Moneycorp - Gatwick1.0628637.681.190210.70
Key Findings

– The cheapest and fairest way to obtain your currency is by comparing deals with an online currency specialist. They will only tend to add markups from as little as 1% away from the interbank exchange rate giving you the best deals.

– When buying travel money, the exchange rate is the key indicator to obtaining the best value on your chosen currency

– It has been proven by our desk research that Airport Currency Bureaus remain the most expensive place to buy travel money adding mark-ups of over 10%

– 0% commission should almost always be ignored as high mark-ups are added instead

– Travel money mystery shop data was collected between 1.00pm and 1.15pm on 5th November 2013

Web Editor at MyTravelMoney  Sofia Kluge comments:

”Airports once again appear to be the world’s most expensive place to buy travel money. As you are a captive customer, our research and data shows that you lose around £70 on every £600 you exchange. Remember, 0% commission doesn’t mean free travel money. The true, hidden cost of converting currency is within the exchange rate.”

For press enquiries or comment: press@mytravelmoney.co.uk

Sofia Kluge on Google+

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>