Luton Airport foreign exchange rates slammed
09.07.08
A reader has contacted us about the 'rip off' foreign exchange rates offered by The Change Group at Luton Airport. The company, one of the largest airport currency companies in the world, took over the franchise at Luton earlier this year. Our reader is less than impressed with the service she received.
[Note: for the lowdown on Luton Airport foreign currency choices, including where to buy to get the best rate, click on the link.]
The reader writes: I travelled to Switzerland via Luton Airport using easyJet on Friday 4th July, 2008. I went to the Change Group booth and requested £175 worth of Swiss Francs. I did not know the exchange rate and the company charged me £169.96 plus £5.10p commission for 300 swiss francs.
When I arrived in Switzerland, my friend said there was something wrong and that was not the exchange rate. The exchange rate given by The Change Group was 1.7651 and 3% commission deducted on the balance.
I have now come home and find the exchange rate varies between 1.9224 and 1.96 - with no commission charged on any of the three companies I investigated online i.e. Thomas Cook, ICE [who are also at Luton Airport], The Post Office.
I did not have a clue at the airport and did not know that this was a rotten exchange rate - 10% below the market rate, plus 3% commission. It did not dawn on me that I should not buy currency exchange at the airport with these people.
Perhaps £22 on a £175 transaction means nothing to some people, but, I can assure you it absolutely does to me and certainly does not encourage people to shop at the airport if they get ripped off before they have even left the country!
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