Don’t buy Euros at the airport
Off on your holiday? Then don’t buy your foreign currency at the airport. The Bureaux de Change’s based in airport thoroughfares give the worst value for money effectively charging £45 more for 500 euro’s than the cheapest you can get.
Worst Airport based deals for 500 euros
Travelex cost £507.84
American Express cost £485.08
TTT cost £484.31
Cheapest deals for 500 euros
Euroexchange cost £461.07
ICA* cost £463.00
No1 Currency cost £465.37
*online delivered to your home
And when it comes to buying US dollars the situation is very similar.
Now all these companies advertise that their exchange is “commission free” so why do we get such wide differences in cost? Well, it’s all down to the exchange rate they give you – the number of euros to the pound. Currently, the Tourist Exchange Rate is 1.08 euros per £ ,but as the rate changes each day, if the Bureaux at the airport gave you 1.06, you might just assume that 1.06 was just the daily rate. But the fact is that they are profiteering by giving you a poor exchange rate – albeit “commission free”!
It is a fact that the recession has made people more price conscious. And the fall in the value of the £ has increased the cost of hotels, travel and entertainment. So that makes it even more important to shop around – just avoid those Bureaux de Change at the airport!
