Save On Your Holiday Money! Airport Bureaus Mark Up Rates Over 10%!

Save On Your Holiday Money! Airport Bureaus Mark Up Rates Over 10%!

MyTravelMoney.co.uk Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market Rate% Margin applied by provider
Travel FX - Online1.233740.7931.2481.194
Icici Bank - Online1.229738.7491.2481.467
Moneycorp - Online1.227
737.2471.2481.667
M & S - High Street1.202722.5221.2483.631
Lloyds High Street1.184
711.5841.2485.090
Moneycorp - Gatwick1.128677.7481.2489.603
Travelex - Heathrow1.123674.6831.24810.012

 

Key Findings

  • When purchasing your holiday money, make sure that the rate you are transferring at is as close to the mid market rate as possible.
  • Airport bureaus are the worst place to buy money, many can take over 10% of your money!
  • Buying holiday money through an online broker ultimately gets you the best deal, with markups as little as 1.1%
  • Many banks today still take over 6% when exchanging currency, this is an outrageous amount that is easy to avoid
  • Travel money mystery shop data was collected between 12:45 and 1:00 on 24 June 2014.

 

Inbound Marketing Manager of MyTravelMoney  Or Hillel comments:

“Once again airports seem to be the most expensive place to buy holiday money! Our research has found that some of these bureaus are taking 10% of your holiday money. This 10% isn’t just pocket change; it is REAL money that can go far, especially when on holiday! Make sure to begin buying your holiday money online for the best rates at only around 1.1%”

 

For press enquiries or comment: [email protected]

Aviva Tabachnik is Partnerships Executive at MyTravelMoney.co.uk - google +

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