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Changing holiday money more expensive at airports

Posted on 31 May at 9 AM Tags:

A new report by consumer watchdog Which? shows that holidaymakers travelling abroad this summer are better off ordering their spending money online or buying it on the high street than using a bureaux de changes at an airport.

Researchers looked at money exchanges at Manchester, Luton, Stansted, Gatwick and Heathrow airports and found that they were consistently more expensive than internet or high street providers.

Ordering currency online secures the best exchange rates. Customers who do so can often pick the cash up from an airport exchange for less money than they would if they tried to exchange cash at the very same outlet.

However, ordering travel money over the internet is not protected under the Financial Services Compensation Scheme, and although the deals are good a delivery charge may be added which wipes out the initial saving. American Express and Travelex only require four hours notice for online money ordering meaning that a better deal can be obtained even at the last minute.

Good deals are to be found on the high street from exchanges including Tesco, Asda Money, Co-op Travel and the Post Office. However, the Which? report suggests that customers should still spend some time shopping around for the best deal.

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