FairFX.com: Half-term holidaymakers 'should not risk being overcharged by buying currency last minute'
Prepaid currency card provider FairFX.com has warned holidaymakers planning a ski trip this October not to risk being overcharged for buying currency last minute.
FairFX.com: Half-term holidaymakers 'should not risk being overcharged by buying currency last minute'”
Prepaid currency card provider FairFX.com has warned holidaymakers planning a ski trip this October not to risk being overcharged for buying currency last minute.
According to FairFX.com, those who buy their currency at the airport could end up paying as much as 14% more than if they had purchased it online.
Research by the prepaid card provider found that Luton and Birmingham are the UK's most expensive airports when it comes to foreign currency purchases.
Instead, FairFX.com recommends taking out a prepaid currency card, which offer rates for euros and US dollars at less than 1% margin above wholesale rates.
This means that all travellers are offered a business level exchange rate.
The cards can be used in much the same way as a debit card, with the added convenience of being able to be topped up via the internet or text message.
Stephen Heath, chief executive of FairFX.com, said: "As sterling continues sinking against the euro, exchange rates will continue to fluctuate, and as the pound is expected to be weak for some time to come it is more vital than ever that people take steps to get as much as they can.
"By preparing in advance and buying your currency online instead of using costly debit or credit cards for foreign spending, travellers will be able to get the most bang for their buck this half term."
Earlier this month, the prepaid card provider launched a unique business expenses platform, offering cost savings to the business travel market.
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