50 reasons to buy your travel money online
0 Comments
MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market XE rate | % Margin applied by provider |
|---|---|---|---|---|
| TravelFX | 1.1510 | 690.60 | 1.1688 | 1.52 |
| Moneycorp | 1.1483 | 688.98 | 1.1688 | 1.75 |
| ICICI Bank | 1.1436 | 686.16 | 1.1688 | 2.15 |
| NatWest | 1.1274 | 676.44 | 1.1688 | 3.54 |
| Barclays | 1.1304 | 678.24 | 1.1688 | 3.28 |
| Travelex - Heathrow Departures | 1.0720 | 643.20 | 1.1688 | 8.28 |
| Moneycorp - Gatwick Departures | 1.0693 | 641.58 | 1.1688 | 8.51 |
Key Findings
- British Holidaymakers can save up to €50 on every £600 worth of holiday money purchased online
- Findings show that Airport Bureaus and High Street Banks apply margins of nearly 8.5% 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 11.45am-12pm, 14th August 2013
Written by Sofia Kluge on Google+
