Save 8.75% buying online vs. the airport
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MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market XE rate | % Margin applied by provider |
|---|---|---|---|---|
| TravelFX - Online | 1.1777 | 706.62 | 1.1917 | 1.17 |
| Moneycorp - Online | 1.1695 | 701.70 | 1.1917 | 1.86 |
| Travelex - Online | 1.1651 | 699.06 | 1.1917 | 2.23 |
| Natwest - High Street | 1.1412 | 684.72 | 1.1917 | 4.24 |
| Barclays - High Street | 1.1208 | 672.48 | 1.1917 | 5.95 |
| Travelex - Heathrow Airport | 1.0749 | 644.94 | 1.1917 | 9.80 |
| Moneycorp - Gatwick Airport | 1.0735 | 644.10 | 1.1917 | 9.92 |
Key Findings
- British Holidaymakers can save up to €62.52 on every £600 worth of holiday money purchased online
- Our research shows that Airport Bureaus apply margins of up to 9.92% on the ‘true mid-market exchange rate’
- 0% commission should usually be ignored as high mark-ups are added instead
- When buying travel money, the exchange rate is the key indicator to obtaining the best value on your chosen currency
- MyTravelMoney.co.uk desk research finds that buying online is substantially cheaper than buying at the airports
- High Street Banks will add high mark-ups as they do not specialise in foreign currency exchange
Data collated is true to live recordings of rates between 10.00am-10.30am, 17th September 2013
Written by Sofia Kluge on Google+
