23 May 2007 Consumers 'should shop around' for holiday money
British holidaymakers have been advised to shop around for the best available deal on their travel money before they head abroad to make sure they aren't losing out as a result of high commission or unfavourable exchange rates.
Financial services comparison firm Moneyfacts reports that while many Britons are happy to spend the necessary time looking for a good deal on their flights, travel insurance and car parking, they will often exchange their money at the airport or with their standard bank.
It notes "an abundance" of commission-free deals on foreign currency, reporting that the key deciding factor is now usually the exchange rate.
"Consumers should perhaps look beyond their own bank or local travel agent and take the time to shop around at least a few other providers," said Lisa Taylor at the company.
She added that leaving the purchase of holiday money to the last minute will often result in higher charges.
Also this week, Peopleschampion.com claimed to offer a better deal on foreign currency to Britons travelling abroad when compared to major high street banks.
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