Travel Money Mystery Shop | Lose over 10% at Airport Bureaus

Travel Money Mystery Shop | Lose over 10% at Airport Bureaus

MyTravelMoney.co.uk Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market Rate% Margin applied by provider
TravelFX - Online1.1646698.761.17991.29
Moneycorp - Online1.1576694.561.17991.89
Travelex - Online1.1520691.201.17992.3
Natwest- High Street1.1279676.741.17994.40
Barclays - High Street1.1162669.721.17995.40
Travelex - Heathrow1.0637638.221.17999.85
Moneycorp - Gatwick1.0618637.081.179910.01

Key Findings

  • Airport Bureaus remain the most expensive place to buy your travel money, adding mark-ups of up to 10.01%
  • 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
  • High Street banks have poor exchange rates adding mark-ups of between 4-6%, a significant amount on top of the true mid-market exchange rate
  • Independent research shows Airport Bureaus apply markups of over 10% away from the real interbank exchange rate
  • 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 11:45am-12:00pm, 22nd October 2013

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

Written by Sofia Kluge on Google+

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