Families going abroad issued warning on changing money at airports
Travel finance experts have shared some top tips to keep your costs down
Families have been told how they can keep their costs down on holiday
(Image: Getty)
Holidaymakers jetting off this summer have been warned against making a costly mistake at airports. Travel specialists at Currensea have shared essential advice for keeping down your expenses while abroad.
One particularly pricey pitfall to sidestep is exchanging currency at airport Bureau de Change counters. James Lynn, co-founder of Currensea, explained: "Never exchange money at the airport.
"Even though it is well-known that the Bureau de Change at airports charge very high exchange fees and poor rates, three in ten travellers still exchange most of their cash at the airport as it's more convenient." Research from the group found that more than 25 percent of travellers still withdraw their holiday money at airports.
Mr Lynn said that many families are "throwing away" large portions of their travel budgets to unfavourable airport exchange rates, despite cheaper options being readily accessible. The company also recommends paying for flight and hotel bills in local currency rather than sterling.
Mr Lynn said: "Our research shows that you can save £40 for a return flight to Fuerteventura by paying in Euros instead. Combined with currencies where the Pound is doing well like the Turkish Lira where your cash will stretch further than last year, then savings can really take off."
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Travellers should also remain vigilant regarding misleading terminology, as 'fee-free' travel cards may prove more expensive than you think. The specialist said that frequently these costs are incorporated into top-up fees or currency conversion rates, meaning you won't actually receive the anticipated savings.
Mr Lynn also advised being vigilant about foreign cash point charges. While this option typically costs less than currency exchange at airports, you can still face substantial service fees
He said: "Some foreign ATM providers can charge around £5 extra for every transaction on top of your withdrawal, this can quickly add up and eat into your holiday budget."
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