Get better deals on holiday money, Which? urges

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Get better deals on holiday money, Which? urges

Travellers really should do their research before approaching their regular bureau de change, as better rates can always be had if they shop around.

This is according to recent research undertaken by the consumer group Which?, that discovered costs can vary by as much as £50 between the most and least expensive currency providers.

Based on the current dollar-to-pound exchange rate, Which? found that the cheapest provider was Eurochange, which charged £351 for $500.

At the other end of the spectrum, an airport branch of Travelex was discovered to be exchanging the same fee for £40 more.

Editor of Which? Money Martyn Hocking said: "Don't just presume that high street providers […] offer the best deals. Thinking ahead and changing your money before you travel means you'll avoid getting stung at the airport."

For those who are living abroad and have problems paying bills in their home country, a new online service, CaxtonFX FastPay, has been launched to make currency conversion easier and less expensive.

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