Commission-free currency deals 'represent great news for frequent travellers'
The abundance of commission-free currency exchange deals represents "great news" for travellers - including property investors who frequently journey between countries - according to new claims from a personal finance website.
Moneyfacts.co.uk stated that only a few currency exchange services now charge an upfront commission fee, making it more important for investors and holidaymakers to seek a competitive exchange rate.
Additionally, the expansion of exchange services through the internet and telephone means that consumers are no longer limited to their local bank to find a bureau de change.
Lisa Taylor, a spokeswoman for Moneyfacts.co.uk, remarked: "Consumers should perhaps look beyond their own bank or local travel agent and take the time to shop around at least a few other providers."
She added that consumers should avoid leaving currency exchanges until reaching the airport, as purchases at the airport may contain an extra premium.
Currently, the strength of the pound means that property investment in some countries may prove to be more attractive where the local currency is relatively weak.
< Back to latest news