Online currency exchange rates among the best
A recent article in the Birmingham Post has confirmed online currency exchange rates to be among the best.
However, according to the article one in five people still leave it to the last minute and change money at the airport, where they are almost certain to get a poor rate. About 15 per cent rely entirely on credit or debit cards, where providers are reckoned by price comparison service uSwitch.com to collect fees and charges worth £281 million a year.
Stephen Heath and Ian Strafford-Taylor – both FairFX Directors are featured in the article. Heath and his business partner Ian Strafford-Taylor aimed to bring the Easyjet low cost online model to currency conversion in launching FairFX in 2006 – now they handle £100 million worth of foreign currency a year through cards and cash.
Low costs keep their exchange rate consistently high in best buy charts; its only charge on ATM withdrawals will be the one levied by the machine owner. Of course, saving on prepaid cards is maximised if buyers are canny enough to buy at a favourable exchange rate.
Wednesday 16 September 2009, 10:34am
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