Avoid high street for currency exchange, says moneysupermarket.com
www.moneynews.co.uk > General finance > Avoid high street for currency exchange, says moneysupermarket.com
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Money News |
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Avoid high street for currency exchange, says moneysupermarket.com
Wed 30th Sep 2009
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Peter Harrison, travel money expert at the comparison site, claimed that the alternatives will offer more competitive deals, even though high street retailers will usually advertise that they do not charge commission.
He stated that using the Travelex website will allow people to find the best rates of exchange and then they can pick up the foreign currency when they arrive at the airport.
Failing that, Mr Harrison suggested using a pre-paid card from a company such as FairFX and CaxtonFX.
"What you normally see is that your high street retailers and mainstream banks do actually have a greater margin – you get a less competitive exchange rate than you can get elsewhere," he explained.
On September 28th, the pound stood at €1.08384, according to the currency exchange website x-rates.com.
A blog post on the Forex website reported that Bank of England governor Mervyn King has highlighted the weakness of sterling as beneficial to the UK, as he felt it will help aid the country's economic recovery.
Click here for more general finance news
Related News : General finance |
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