When is 0% commission not 0% commission? In foreign currency exchange it seems.

This Is Money (by the Daily Mail) have published an interesting story which highlights that although more than half of travellers look for a 0% commission deal when buying foreign currency, that particular statistic can be extremely misleading.

For example, last Tuesday at midday, £200 would have bought €211.38 at a NatWest branch or €217 at a post office - even though both advertise 0% commission.

FairFX, along with Caxton, provides the best exchange rates through their travel cards. Currency is loaded on to a card and accessed using cash machines abroad. Last Tuesday, £200 would have bought €223 at FairFX and €222 at Caxton.

Click here to read the article in full.

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• Four Major UK Newspapers Seek to Expose 0% Commission Travel Money Myth
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Tuesday 24 February 2009, 11:42am

Tags: currency exchange, dollar rates, euro, euro rate, exchange rates, opodo, press mentions