Travel Money Mystery Shop – Lose 9.6% to Airport Bureaus

Travel Money Mystery Shop – Lose 9.6% to Airport Bureaus Mystery Shop

£600 worth of €urosExchange RateAmount of €Mid Market Rate% Margin applied by provider
Travel FX - Online1.1702702.121.18601.33
Travelex - Online1.1695701.701.18601.39
Moneycorp - Online1.1637698.221.18601.88
Natwest- High Street1.1376682.561.18604.08
Barclays - High Street1.1251675.061.18605.13
Moneycorp - Heathrow1.0746644.761.18609.39
Travelex - Gatwick1.0721643.301.18609.60

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.”

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Written by Sofia Kluge on Google+


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