Travel Money Mystery Shop | 9.61% Markups added by Airport Bureaus

Travel Money Mystery Shop | 9.61% Markups added by Airport Bureaus

MyTravelMoney.co.uk Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market Rate% Margin applied by provider
Travel FX - Online1.1792707.521.19421.25
Moneycorp - Online1.1733703.981.19421.75
Travelex - Online1.1693701.581.19422.08
Natwest - High Street1.1434686.041.19424.25
Barclays - High Street1.1309678.541.19425.30
Travelex - Heathrow1.0826649.561.19429.34
Moneycorp - Gatwick1.0794647.641.19429.61

Key Findings
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 nearly 10%

  • Independent research shows Airport Bureaus apply markups of over 10% away from the real interbank exchange rate
  • Airport Bureaus remain the most expensive place to buy your travel money, adding mark-ups of up to 9.61%
  • Banks and airports that offer 0% commission do not exist and should not be bought in to
  • When buying travel money, the exchange rate is the key indicator to obtaining the best value on your chosen currency
  • 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 1.5% away from the interbank exchange rate giving you the best deals.
  • MyTravelMoney.co.uk desk research finds that buying online is substantially cheaper than buying at the airports

Mystery Shop data collated is true to live recordings of rates between 8:15am-8:30pm, 26th November 2013

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

Written by Sofia Kluge on Google+

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