Airports ‘named and shamed’ for high forex costs
Holidaymakers could lose almost £9 for every £100 they exchange for foreign currency depending on which airport they use, a report claims.
Research by the Co-operative Travel Trading Group shows that people who leave changing their holiday cash to the last minute are being preyed upon by some airport exchange bureaux offering poor rates and high charges to a captive audience.
The poorest deals overall were found at newly-opened Robin Hood Airport in Doncaster, which gave the worst exchange for euros and the joint worst for US dollars. In addition to a low rate, £5 commission was payable on any exchange under a value of £400.
When researchers looked to change £100 into euros and dollars, they were offered €130.15 and $159.60.
This was significantly less than the best deals available at other UK airports. Aberdeen Airport offered the best value for euros with €137.58, Gatwick came out top for US dollars with $167.78 for £100 – 5% more.
CTTG chief operating officer Mike Greenacre said: “There’s no reason why people should have to pay more for foreign currency at airports – our research shows quite clearly that many are being exploited.
“The worst deals can really eat into your holiday spending money, leaving you with almost 9% less than some of the best high street deals. That’s the equivalent of £9 less in your pocket for every £100 exchanged.
“We want to make holidaymakers aware of what they’re letting themselves in for if they decide not to buy currency well in advance.
“Many people find it hard to compare deals, what with the combination of different rates and varying levels of commission. Our research really spells out how much less cash you would have in your pocket.”
HOW THE DEALS COMPARED:
Euros – For £100 Exchanged
|
1 |
Aberdeen |
€137.58 |
|
2= |
Southampton |
€137.25 |
|
|
Heathrow |
€137.25 |
|
|
Glasgow |
€137.25 |
|
|
Gatwick |
€137.25 |
|
6= |
Stansted |
€137.24 |
|
|
Norwich |
€137.24 |
|
|
Edinburgh |
€137.24 |
|
9 |
Bournemouth |
€136.21 |
|
10 |
London City |
€135.86 |
|
11 |
Luton |
€133.66 |
|
12 |
Durham Tees Valley |
€132.98 |
|
13 |
Manchester |
€132.91 |
|
14 |
Newcastle |
€132.89 |
|
15 |
Birmingham |
€132.38 |
|
16= |
Liverpool |
€131.05 |
|
|
Leeds Bradford |
€131.05 |
|
|
Cardiff |
€131.05 |
|
|
Bristol |
€131.05 |
|
20 |
Belfast |
€131.00 |
|
21 |
Nottingham East Midlands |
€130.95 |
|
22 |
Robin Hood Doncaster |
€130.15 |
US Dollars – For £100 Exchanged
|
1 |
Gatwick |
$167.78 |
|
2= |
Glasgow |
$167.74 |
|
|
Stansted |
$167.74 |
|
|
Edinburgh |
$167.74 |
|
5= |
Aberdeen |
$167.71 |
|
|
Southampton |
$167.71 |
|
|
Heathrow |
$167.71 |
|
8 |
Bournemouth |
$166.81 |
|
9 |
London City |
$165.87 |
|
10 |
Nottingham East Midlands |
$164.24 |
|
11 |
Norwich |
$163.54 |
|
12 |
Durham Tees Valley |
$162.99 |
|
13 |
Birmingham |
$16  
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