Last-minute holidaymakers pay more for their foreign currency
Buying travel money at the eleventh hour could cost travellers, warns Post Office Travel Services
London, UK (PRWeb UK/PRWEB ) November 1, 2009 -- Even though UK holidaymakers believe they are saving money by booking last-minute travel deals, research from the Post Office has found that they may be losing out in the long run by paying more for their travel money.
Post Office Travel Services research has revealed that more than three million people leave buying their holiday foreign currency until 24 hours before departure, sometimes even picking up travel money on the day of travel or at the airport. The research has also revealed that an additional two million people only buy their foreign currency when they reach their destination.
The Post Office warns that buying foreign currency at the last minute can leave people with less travel money to spend while they are away. For example, buying foreign currency at the airport can cost travellers as much as an extra £86 per transaction, because of poor foreign exchange rates and fees.
Londoners seem to be the worst at planning ahead and organising travel money before their holidays. Ten per cent of the capital's residents buy their foreign currency either on the day before heading away, on the day of travel or at the airport.
Sarah Munro, Head of Post Office Travel Services, said:
"Those who leave buying their foreign currency to the last minute could end up paying more. Buying travel money last minute can leave you with less cash to spend while you're away due to hidden fees and poorer foreign exchange rates."
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See the original story at: http://uk.prweb.com/releases/2009/11/prweb3138474.htm
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