Save Loads On Your Holiday Money! Don’t Fall For 0% Commission!
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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 | 741.634 | 1.252 | 1.470 |
| Moneycorp - Online | 1.228 | 737.728 | 1.252 | 1.989 |
| Icici - Online | 1.226 | 737.066 | 1.252 | 2.077 |
| Mands - High Street | 1.200 | 721.320 | 1.252 | 4.169 |
| Lloyds High Street | 1.185 | 711.885 | 1.252 | 5.422 |
| Moneycorp - Gatwick | 1.127 | 677.147 | 1.252 | 10.037 |
| Travelex - Heathrow | 1.121 | 673.901 | 1.252 | 10.469 |
MyTravelMoney Mystery Shop data is collected in real time on July 1st from 12:30-1:00PM
Key Findings
- When purchasing holiday money always make sure to avoid airport exchange bureaus due to high mark ups reaching over 10%.
- Buying holiday money through an online broker ultimately gets you the best deal, with markups as little as 1-2%Banks on high street are known to mark up rates anywhere from 5-6% – These rates are easy to avoid by simply buying holiday money online!
- When purchasing holiday money at exchange bureaus or banks, always make sure to compare between them to receive the best rate.
Partnerships Executive of MyTravelMoney Aviva Tabachnik comments:
“Every week the MyTravelMoney Mystery Shop data serves as a reminder to how high airport bureaus and banks tend to mark up exchange rates for customers wanting to buy holiday money. It is evident that the online market place for buying holiday money is thriving because of it’s transparency, as well as the small markup percentages compared to airport bureaus and banks. Buying holiday money online is always the right choice, especially if you value your money as much as we do!”
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