Travel money rates held back

kookai9

Anyone know if the Travel money exchange rate companies, hold back like the oil based companies that dont pass on savings immediately to consumers ?

benjus

I can't speak for all exchange houses, but the currency exchange market is so competitive, with the cheapest places operating on such narrow margins, that they would be unwise to do so as customers will easily find someone else that is offering better rates.

Also bear in mind that most experienced MSE-ers use a fee-free debit or credit card to get foreign currency while abroad rather than buying it in advance. Such a card will give the wholesale Visa/Mastercard rate, which is essentially the same as the rate from the international currency markets.