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 $167.78 for their £100.]
Gatwick Airport didn't do too bad in the survey. For euros it was joint 2nd out of 22, offering just €137.25 for £100, versus €137.58 at Aberdeen, a difference of less than 1%. For US$ transactions Gatwick was at the top of the table, offering $167.78, a difference of 3.5% over the bottom airport.
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. At this time we got a rate of €142.00 and $178 for £100 from Onlinefx, 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 gatwick hotel or gatwick parking at the lowest price click on these links to gatwick parking and gatwick hotel price comparison pages.
