Late summer holiday bargain hunters warned over shocking costs

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.”

UK Airport Buy and Sell Rate Comparison Table

Rates collected at 11.00am on 22nd September 2010

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Media enquiries
FairFX Press Office
pressoffice@fairfx.com

David Bain
Tel. 020 7778 9316

Stephen Heath
Chief Executive
FairFX Plc
T: 020 7778 9302
M: 07785 291 059
Stephen@fairfx.com

Ian Strafford-Taylor
Chief Operating Officer
FairFX Plc
T: 020 7778 9308
M: 07920 793 793
ian@fairfx.com

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).

Wednesday 22 September 2010, 02:38pm

Tags: 0% myth, airport, birmingham airport, compare rates, currency rates, holidaymakers, luton, tourist rates of exchange

To help Brits make the most of their holidays this year, FairFX.com is offering Matalan Reward Card holders a free prepaid currency card (normally costing £9.95) loaded with £5 to help them stretch their holiday spending money even further. This exclusive offer can be applied for online via Matalan.

Stephen Heath, Chief Executive of FairFX.com, said: “Brits are facing a tough year ahead and for many people holidays will be the last thing on their minds. While we can’t make the outlook for 2009 look any less gloomy, we can help people stretch their holiday spending money that little bit further by offering free FairFX.com cards preloaded with £5 to Matalan Reward Card holders.

“The FairFX.com currency card offers market leading exchange rates, secure access to cash worldwide and could save people up to €70 or $90 per £1,000 spent*; and now people can get the card for free with a fiver thrown in to boot there is no reason why holidaymakers can’t get the biggest bang for their buck with Matalan and FairX.com .

“FairFX.com’s new offering with Matalan is the next step in partnering with brands with a shared ethos. We share the same commitment in helping our customers get more for their money, be it on holiday or in the shops, in a fair and transparent way particularly in tougher economic times.”

How does the FairFX card work?

The FairFX Currency Card is a MasterCard chip and pin enabled prepaid debit card. It differs from regular debit cards in two ways. Firstly, the cards are issued in either Euros or US dollars and secondly, funds must be loaded onto the card before they are available to spend. The currency to be loaded is obtained simply by logging on to www.fairfx.com and can be paid for by any sterling debit or credit card or internet bank transfer.

Thursday 12 February 2009, 12:06pm

Tags: consumers, free card, free fiver, free money, holidaymakers, matalan, save money, travel