News Tag: exchange rate
May 26, 2009
Brits taking their summer holiday abroad this year will spend £73 million on debit and credit card fees, it emerged this week.
Research by Abbey Credit Cards found that British holidaymakers pay an average of 3% in conversion fees every time they use an overseas ATM or spend money on their card in a foreign shop.
Seven in ten (69%) of those ...
Holidaymakers spend £73m on unnecessary currency fees
by David Masters
May 8, 2009
Currency exchange provider FairFX is offering one of the cheapest deals available on US dollars.
The website is currently the only provider offering a rate of $1.50 for £1.
Stephen Heath, FairFX.com chief executive, said the rate is "good news for anyone planning a trip to the states".
Heath said that because of the current volatility in exchange rates, holidaymakers planning a trip to ...
FairFX offers 1.5 USD for GBP
by David Masters
April 7, 2009
British holidaymakers are being misled into believing that a 'commission free' exchange means they are getting the best deal for their holiday money.
Online currency provider FairFX said many Brits are unaware that the exchange rate is just as important as the commission fee in determining how much of a foreign currency they're getting for their pound.
On the high street, ...
Beware the myth of ‘commission free’ exchange rates
by David Masters
January 21, 2009
The British pound plunged to a 7½ year low against the US dollar yesterday amid concerns about the state of the UK banking sector.
Plummeting to below $1.40, the pound hit its weakest rate against the dollar since 2001.
Analysts suggested the latest bail-out of British banks prompted a pound sell-off, whilst others blamed the slide on record ...
Pound plummets against dollar and euro
by David Masters
