Getting money from a cash machine abroad 'could be better than buying currency online'
Holidaymakers could be better off going abroad and getting money from a cash machine, rather than buying currency online and having to pay with a card, according to Which? Money.
Getting money from a cash machine abroad 'could be better than buying currency online'”
Dan Moore, senior researcher at the independent consumer champion in the UK said that people looking to buy their holiday money should avoid paying charges they don't have to.
His comments follow the release of a report by FairFX.com, which showed that only 4% or respondents completely understood that there could still be a cost even when the term commission 'free' is used.
The research found that 51% of respondents were willing to pay for something, but only if currency providers were upfront about the costs.
Mr Moore commented that consumers are getting confused by changing exchange rates, although there haven't been massive increases in the number of pounds that holidaymakers get for their euros.
"The currency markets have fluctuated quite a bit, even in the last month. We've increased our manufacturing output and the euros stabilised. France, Germany and Japan have come out of recession and all these things have affected the price of sterling on the international market," he commented.
Written by Sarah Wilkins ©
