Airport Travel Money: Up to 33% Hidden Commission

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Late summer holiday bargain hunters warned over shocking travel money costs.

Stephen Heath, Chief Executive, FairFX.com

Terrible airport exchange rates are compounded when you have some leftover currency and change it back at the same airport travel money booth. Doing that could mean that you get charged up to the equivalent of 33% commission.

Late summer holiday bargain hunters were today warned to avoid airports when buying foreign currency. According to research carried out by online foreign currency provider FairFX.com, UK airports are a “no-go” area when it comes to getting good value for their travel money.

FairFX Chief Executive Stephen Heath said “Many holidaymakers scour the internet for great value last minute holiday deals, but get stung by not exchanging money until they get to the airport.

“Terrible airport exchange rates are compounded when you have some leftover currency and change it back at the same airport travel money booth. Doing that could mean that you get charged up to the equivalent of 33% commission.

“A much better way of doing it is use a travel money card like the FairFX Anywhere Card which charges just 1.5% equivalent exchange rate margin. If consumers are savvy, they will order a Prepaid Travel Money Cards a week or so before they travel. That way they can ensure much better exchange rates.”

About FairFX

FairFX Plc is an internet based foreign exchange business with a technology platform that allows it to provide UK travellers with the best foreign exchange rates in the market. FairFX’s core product is a brand new prepaid MasterCard denominated in Euros, US$ and the £ Sterling denominated Anywhere Card.

Customers can buy online using debit/credit cards or internet bank transfer. By eliminating traditional methods of providing foreign currency such as Travel Money bureaus and kiosks, customers are offered business/commercial type foreign exchange rates rather than paying up to 3% on typical UK Bank debit card usage, 5% more on the High Street, or even 8+% more at the airport.

FairFX has been established by a group of people committed to giving the consumer a fair deal. The business is owned by very experienced private investors and Directors. All FairFX Directors are substantial investors in the Company. FairFX is a Public Limited Company and has a Money Service Provider Licence issued by HMRC (Her Majesty's Revenue and Customs).

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David Bain
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