Britons Pay Too Much for Holiday Cash
More than half of holidaymakers don't shop around for the best currency deal
2nd June 2005
Research by Natwest Travel Money Services has shown that while holidaymakers may spend hours scouring the internet and travel agents for the cheapest holiday deal, 53% of us don't make any attempt to get the best deal on our holiday currency.
Indeed, arranging foreign cash comes low down on our list of priorites, with 40% leaving it to less than a week before departure, giving little time to compare exchange rates.
Even though there's a perception that foreign banks and Bureaux de Change don't provide good value or service, some 10% of us are still happy to exchange the bulk of our money at the foreign destination.
Bank branches emerged as the most popular ways of arranging foreign currency, with location, quality of service and exchange rates all being factors in the choice.
Read More: Natwest Press Release
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