Exchange rate research
Travellers researching cheapest currency deals online
18 March 2009Holidaymakers are turning to the internet to research the best deals on their travel money, before they embark on a trip.
That is according to online currency exchange company FairFX.com, which has suggested that the recession is causing travellers to research the best currency rates on the market.
Stephen Heath, chief executive of FairFX.com, explained that consumers purchasing currency at UK airports will be faced with a margin of between "eight to 15 per cent".
He said that those who buy currency on the high street "will pay between five and eight per cent", but he said delivering currency online "is much cheaper".
"In boom times people didn’t worry so much about travel money and left it till the last minute", Mr Heath explained.
Commenting on how things have changed as a result of the economic downturn, Mr Heath said that an increasing number of people were "using the internet to deal with their travel money needs in advance".
Recent research from Greenbee.com revealed that 34 per cent of Britons spent a day searching the best deals on holidays.
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