Travellers warned against airport bureaux de change
Travellers warned against airport bureaux de change
Travellers are being warned that exchanging currency at airports does not offer good value for money. A recent study carried out by the consumer watchdog Which? revealed the best and worst places to buy holiday money.
Which? investigated how much it costs to buy $500 and 500 euros of cash at 21 providers throughout the UK. The study showed that holidaymakers buying euros and dollars at the airport can pay almost £50 more than on the high street.
The best value for money, for both euros and dollars, was high street operator
Eurochange, which charged £251 for $500 and £461 for 500 euros. However, the most expensive exchange was found at an airport branch of Travelex, charging £40 more than Eurochange for the dollars and £47 more for the euros.
Travelex was not the only
airport bureau de change charging more. American Express and TTT also stood out as poor value for money as they tend to charge commission.
Researchers also found that the
Post Office was good value for travellers purchasing money online. However, anyone carrying out the same transaction at a branch of the Post Office would not be able to take advantage of the same deals.
Editor of Which? Money, Martyn Hocking, said: "The fall in the value of the pound has increased the cost of [accommodation], travel and entertainment for UK tourists, so it's more important than ever to
shop around for currency... Thinking ahead and changing your money before you travel means you'll avoid getting stung at the airport - head to a city centre bureau de change or go online for the best deals."
This story was brought to you by holiday
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