MyTravelMoney.co.uk Mystery Shop
Key Findings
– Airport bureaus remain the world’s most expensive place to exchange currency
– Independent research shows airport currency bureaus apply markups nearly 10% away from the real interbank exchange rate
– Buying holiday money through an authorised and regulated online supplier works out overall cheapest, with suppliers adding markups of little over 1% away from the interbank exchange rate.
– When buying travel money, the exchange rate is the key indicator to obtaining the best value on your chosen currency
– Travel money mystery shop data was collected between 11:45 and 12:00 on 12 November 2013.
Co-Founder of MyTravelMoney Daniel Abrahams comments:
“Airports once again appear the world’s most expensive place to buy travel money. As you are a captive customer, expect to lose around £60 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
Written by Sofia Kluge on Google+
