Banks take €50 on every £600 of travel money

MyTravelMoney.co.uk Mystery Shop

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 7.16% 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, 21st August 2013

Written by Sofia Kluge on Google+