MyTravelMoney.co.uk Mystery Shop
| £600 worth of €uros | Exchange Rate | Amount of € | Mid Market Rate | % Margin applied by provider |
|---|---|---|---|---|
| Moneycorp - Online | 1.1480 | 688.60 | 1.1686 | 1.77 |
| Travelex - Online | 1.1460 | 687.60 | 1.1686 | 1.94 |
| ICE - Online | 1.1350 | 681.00 | 1.1686 | 2.88 |
| Natwest- High Street | 1.1062 | 663.72 | 1.1686 | 5.34 |
| Barclays - High Street | 1.1069 | 664.14 | 1.1686 | 5.28 |
| Travelex - Heathrow | 1.0537 | 632.22 | 1.1686 | 9.83 |
| Moneycorp - Gatwick | 1.0527 | 631.62 | 1.1686 | 9.92 |
– It has been proven by our desk research that Airport Currency Bureaus remain the most expensive place to buy travel money adding mark-ups of nearly 10%
– The cheapest and fairest way to obtain your currency is by comparing deals with an online currency specialist. They will only tend to add markups from as little as 1.5% away from the interbank exchange rate giving you the best deals.
– 0% commission should almost always be ignored as high mark-ups are added instead
– Travel money mystery shop data was collected between 11:30am and 12:00pm on 29 October 2013.
Web Editor at MyTravelMoney Sofia Kluge comments:
”It is no surprise that Airports add some of the highest markups; consumers are held captive and don’t have a choice. My advice would be to buy your currency in advance to make sure you get the best deals. Shop around using currency specialists and compare rates to make sure you are getting the fairest and most reasonable deals.”
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Sofia Kluge on Google+
