Thursday, 16 April 2009

Time to cut exchange rate profits

Do not pass up any opportunity to whinge to your bank about the iniquity of tourist exchange rates.

Yesterday the official rate was almost €1.14 to the £. The Guardian newspaper's tourist rate table this morning showed "bank sells" at €1.07. That's a charge of about 6% on the transaction. And when you wanted to cash in any unspent Euros, banks were buying them at €1.18

When tour firms, airlines and hotels are hit by recession they respond by offering better deals. Not the money changers. Cutting the percentages would encourage spending and keep more people in tourism jobs. It would also go a little way towards raising our credit crunch jaded spirits.

At a time when everyone is feeling the pain - how about a little less profiteering?

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