Brits can expect to pay 7% more if they purchase their currency at the airport

26 Jul, 2016

Holidaymakers planning to go to Europe in the summer months – June, July, and August – could be collectively missing out on €265 million by not buying their money in advance, according to new analysis by Sainsbury’s Bank Travel Money.

The supermarket bank found that Euros are on average 7.3% cheaper bought from a local bureau than from an airport kiosk, highlighting the importance of purchasing holiday money in advance and not leaving it until the very last minute.

Sainsbury’s Bank Travel Money estimates that in 2015, €8.4bn was purchased by people in the UK with 43% of these sales taking place in June, July and August.

A spokesman for Sainsbury’s Bank said: “As peak holiday season is here we’d encourage anyone travelling to Europe this summer to plan ahead so they don’t miss out on the best rates. Our analysis shows on average holidaymakers could save €42 per transaction by getting their money in advance – enough for a lunch for two in Spain or perhaps a few drinks in France.”