Co-op report highlights poor foreign currency deals at UK airports
09.06.05
Holidaymakers could pay almost £9 for every £100 they exchange for foreign currency at UK airports, according to a report by the Co-op. Research by Co-operative Travel shows that people who leave changing their holiday cash to the last minute are being ripped off by some airport foreign exchange companies, who offer poor rates and impose high charges on their captive audience.
The airport with the poorest rates overall was the newly-opened Robin Hood Airport in Doncaster, which gave the worst exchange for euros and the joint worst for US dollars. In addition to a poor exchange rate, a £5 commission charge is levied on any transaction under £400.
The rate the Co-op got for £100 in euros and dollars at Robin Hood (€130.15 and $159.60) was significantly less than the best deals available at other UK airports where travellers could get as much as 5% more for their money. [At Aberdeen Airport the Co-op got €137.58 and at Gatwick $167.78 for their £100.]
Birmingham Airport didn't do too well in the survey either. For euros it was 15th out of 22, offering just €132.38 for £100, versus €137.58 at Aberdeen, a difference of 4%. For US$ transactions Birmingham was at the bottom of the table, offering just $162.17 for £100 versus $167.78 at Gatwick, a difference of 3.5%.
Had the Co-op compared these rates to those available online, commission free and delivered free (see our Foreign Currency advice page), the difference would have been even more shocking. We got a rate of €142.00 and $178 for £100 from Onlinefx last week, which would have topped both lists and beaten the high street.
How the Airports compared:
Euros – For £100 Exchanged
1. Aberdeen €137.58
2.= Southampton €137.25
2.= Heathrow €137.25
2.= Glasgow €137.25
2.= Gatwick €137.25
6.= Stansted €137.24
6.= Norwich €137.24
6.= Edinburgh €137.24
9. Bournemouth €136.21
10. London City €135.86
11. Luton €133.66
12. Durham Tees Valley €132.98
13. Manchester €132.91
14. Newcastle €132.89
15. Birmingham €132.38
16.= Liverpool €131.05
16.= Leeds Bradford €131.05
16.= Cardiff €131.05
16.= Bristol €131.05
20. Belfast €131.00
21. Nottingham East Midlands €130.95
22. Robin Hood Doncaster €130.15
US Dollars – For £100 Exchanged
1. Gatwick $167.78
2.= Glasgow $167.74
2.= Stansted $167.74
2.= Edinburgh $167.74
5.= Aberdeen $167.71
5.= Southampton $167.71
5.= Heathrow. $167.71
8. Bournemouth $166.81
9. London City $165.87
10. Nottingham East Midlands $164.24
11. Norwich $163.54
12. Durham Tees Valley $162.99
13. Birmingham $162.17
To book a birmingham airport hotel or birmingham airport parking at the lowest price click on these links to birmingham airport parking and birmingham airport hotel price comparison websites.
