MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market XE rate | % Margin applied by provider |
|---|---|---|---|---|
| TravelFX - Online | 1.1829 | 709.74 | 1.1984 | 1.29 |
| Moneycorp - Online | 1.1758 | 705.48 | 1.1984 | 1.88 |
| Travelex - Online | 1.1705 | 702.30 | 1.1984 | 2.32 |
| Lloydsbank- High Street | 1.1338 | 680.28 | 1.1984 | 5.39 |
| Halifax - High Street | 1.1338 | 680.28 | 1.1984 | 5.39 |
| Moneycorp - Heathrow Airport T5 | 1.0780 | 646.80 | 1.1984 | 7.56 |
– Ditch the airport bureau, it’s the world’s most expensive place to buy currency
– Travel money rates work out overall cheapest online versus the high street & airport bureaus
– British jet setters can save over 60 Euros on every £600 worth of travel money bought online
– MyTravelMoney research finds airport bureaus add exchange rate markups of a whooping 7.56% away from the real mid-market exchange rate
– Travel money mystery shop data was collected between 13:30 and 13:45 on 01 October 2013.
Co-Founder of MyTravelMoney Daniel Abrahams comments:
” Over the past few months, our mystery shop data has clearly showed that the best value travel money rates are found online. Airport bureaus have to contend with astronomically high overheads and unfortunately, these costs are passed on to the captive customer who is last minute shopping. Rather than setting for the first deal you stumble across, British holidaymakers should obtain multiple quotes. Start thinking about currency a week or so in advance. Online currency exchange companies let you book currency online for home delivery of currency. As per our research, this is not only the most cost-effective, but arguably convenient way of purchasing holiday money.”
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