Weekly Mystery Shop | Beware Of Hidden Fees!
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MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market Rate | % Margin applied by provider |
|---|---|---|---|---|
| Travel FX - Online | 1.234 | 741.694 | 1.258 | 1.871 |
| Moneycorp - Online | 1.233 | 741.033 | 1.258 | 1.958 |
| Icici - Online | 1.232 | 740.552 | 1.258 | 2.022 |
| Lloyds - Highstreet | 1.187 | 713.627 | 1.258 | 5.584 |
| Barclay's - High Street | 1.184 | 711.584 | 1.258 | 5.855 |
| Moneycorp - Gatwick | 1.131 | 679.911 | 1.258 | 10.045 |
| Travelex - Heathrow | 1.125 | 676.185 | 1.258 | 10.538 |
MyTravelMoney Mystery Shop data is collected in real time on August 12th from 10:45am-11:15am
Key Findings
- Don’t waste your time on line at the airport bureaus and lose out on poor exchange rates, shop around online.
- Anytime you read ‘No Fees’ or ‘0% Commission’ remember it’s a scam!
- Online currency specialists offer you the opportunity to compare rates and be smart with your money.
- Banks and airport bureaus have markups as high as 10%, outrageous.
Co-Founder at MyTravelMoney, Daniel Abrahams, comments:
“Using an online currency specialist is the best way to go. Specialists give you transparency and control over your holiday money and charge as low as 1%. Why waste your money with fees as high as 10% when you could have more money in your wallet for your holiday. Compare your options and be smart!”
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