Shop Around Best Currency Exchange Deals

Published by djmick on May 20th, 2009

currency exchange

Holidaymakers can be charged nearly £50 more for 500 euros of spending money if they leave getting the cash until they reach the airport, it has been revealed.

And some of the biggest names in currency exchange offer poor value for money, according to research by consumer group Which?

It checked exchange rates when buying U.S. $500 and 500 euros in cash at 21 currency providers – including banks, bureaux de change, travel agents, high street shops and online agents.

It found that costs varied by almost £50 between the cheapest and the most expensive outlets. The best value currency provider on average for U.S. dollars and euros was Eurochange, which operates on the high street. It charged £351 for $500 and £461 for 500 euros.

By contrast, the most expensive quotes were from an airport branch of Travelex, which charged an average of £391 – £40 more – for $500 and £507 – £47 more – for 500 euros.

Overall, airport bureaux de change such as TTT, American Express and Travelex provided the worst value for money as they tended to charge commission.

via MailOnline

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