*** UPDATE 15 July 2016 ***
Shortly after Adam wrote this post, Peter from the Compare Holiday Money team flew to Iceland from Heathrow and noted the Euro exchange rate on offer (post-Brexit) had dropped to 1.065, or nearly £1 = €1. For comparison purposes, you could buy Euros online on the same day for 1.183 so the advice is clear: buy online in advance and never leave it until you’re at the airport!
Heathrow Airport is the largest airport in the UK with 34 million more passengers flying from Heathrow Airport when compared with Gatwick Airport which is the second largest airport. In 2015 nearly 75 million passengers flew from Heathrow Airport. The question is how many of these passengers could have saved money on their Travel Money exchange rates if they had shopped around in advance for their holiday spending money.
At Heathrow Airport Travelex is one of the main Foreign Currency suppliers, however, leaving buying your Travel Money to the last minute means you have less control over what exchange rates you buy your currency at. Our new Click and Collect Currency comparison tool on our website allows you to compare exchange rates locally, but also at all the major airports in the UK including Gatwick Airport and Heathrow Airport.
Heathrow Airport Foreign Currency Exchange Rates – Euro Travel Money from Travelex
As you can see above our Click and Collect Travel Money comparison tool allows you to see the Foreign Currency Exchange Rates at Heathrow Airport in advance for Travelex. The Euro Exchange Rate however on this particular day for Travelex was 1.1642 at Heathrow Airport which when compared with all the Travel Money suppliers including online only companies you can see that you can actually get a much better deal online in advance with Free Delivery to your home address if you have time available. Please see as follows or go to our Buy Currency pages for comparing all Travel Money suppliers for today’s live exchange rates:
Online Foreign Currency Exchange Rates vs Click and Collect from Heathrow Airport
As you can see above for a comparison on the Pound to Euro Exchange Rate using our Buy Currency comparison tables, which includes all online Travel Money suppliers, you can see that the Sterling to Euro Exchange Rate on offer is actually better at 1.1744 than buying from Travelex at Heathrow Airport. In fact when I checked there were 14 Travel Money suppliers that had a better Euro Exchange Rate on this particular day including Sterling FX, Travel FX and some high street brands such as Debenhams.
Our advice to consumers has always been to shop around in advance for buying your Travel Money as this gives you more options and greater control over what Foreign Currency supplier you use and what Exchange Rates you buy at. Using Debit and Credit Cards overseas is often expensive as it is buying from the Airport so when you are looking to compare and buy your holiday money always make sure you do this at least one week in advance to allow for Free Delivery to your home address.
In some cases some Travel Money suppliers including the Post Office sometimes run Travel Money Flash Sales where you can get improved Exchange Rates on some top currencies including the Euro and US Dollars. If you would like to join up to our Email Newsletter, Facebook Page or Twitter Page we will send out news on Travel Money special offers and deals as and when they become available.