Airports give up to €40 less than online currency providers

Airports give up to €40 less than online currency providers Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market XE rate% Margin applied by provider
ICICI Bank1.127676.0801.1431.400
Travelex - Heathrow Departures1.065639.0001.1436.808
Moneycorp - Gatwick Departures1.062637.2001.1437.070

Key Findings

  • British Holidaymakers can save up to €40 on every £600 worth of holiday money purchased online
  • Findings show that Airport Bureaus and High Street Banks apply margins of nearly 7% 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
  • 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 2.15pm-2.30pm, 31st July 2013

Written by Sofia Kluge on Google+


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