Holidaymakers looking for some sun this summer might want to rethink where they exchange their pounds. A new study by foreign exchange specialist eurochange has revealed that Brits are losing out on up to £300 in spending money by purchasing their travel currency at the airport.
The research compared currency exchange rates at UK airports to those on the high street or online, uncovering price differences as high as 13%. Among the worst culprits is London Gatwick, where travellers exchanging €1,000 could miss out on as much as £274 compared to better rates available elsewhere. Even at Heathrow, which offered some of the most competitive airport rates, holidaymakers still overpaid by more than £100.
Laura Evans-Fisk, Head of Digital & Engagement at eurochange, called the findings “surprising,” warning travellers against leaving their currency exchange to the last minute.
“Changing money at the airport is absolutely the least cost-effective way of picking up your holiday money,” she said. “As it’s often a last-minute necessity, customers are forced to convert their cash at whatever rate is offered to them, whereas on the high street, they have more options.”
Airport Exchange Rates: The Best and Worst
The study offers a detailed breakdown of exchange rate losses across major UK airports. At Stansted, travellers converting €1,000 could miss out on £264, while at Luton the figure stands at £126. In contrast, travellers at Liverpool John Lennon Airport lose out on a more modest £124.
The pattern is similar for US dollars, where the difference between airport and high street rates remains stark. At Stansted, swapping $1,000 incurs a £252 penalty, compared to just £122 at Liverpool.
When Should You Buy Your Holiday Money?
Planning ahead doesn’t just mean choosing the right place—it also helps to pick the right time. According to eurochange, the best days to purchase travel money are typically between Monday and Thursday.
“These are the least busy days for transfers, so you might see a little less fluctuation in the mid-market rate,” said Evans-Fisk.
Shop Around, Save Big
With thousands of families preparing to head abroad over the coming months, the advice from experts is clear: buy early, and don’t rely on airport kiosks for the best rates.