Holiday Money - No.1 Currency Gets You More

As the pound falls to its lowest ever value against the euro, research from No.1 Currency shows its set to be an expensive summer for Scots holidaying throughout most of Europe this year.

High exchange rates coupled with steep bank charges for the use of credit and debit cards in foreign destinations mean that Scots will now be paying around 17% more for holiday expenses than they did at the start of 2007.

No.1 Currency, a leading international foreign currency service, can save Scots as much as 11% by changing their money before they get to the airport.

Founder and Managing Director of No.1 Currency, Mark McElney said, “Most people do not shop around to find the best rate of exchange for their money, leaving it until they get to the airport or choosing to rely on their bank cards. This is costing them far more than it should.”

No.1 Currency, recently listed as one of the top 100 fastest growing private companies in the UK, has a network of 245 Bureau de Change franchised outlets across the UK, offering the most competitive currency exchanges rates on the high street.

“We are the only foreign exchange service to use a franchise Bureau de Change model. This saves huge amounts in overheads and set up costs. We pass this saving onto our customers.”

With the use of travellers’ cheques diminishing and high bank charges for using plastic to make ATM withdrawals abroad, getting cash before you go is still an essential item on most people’s holiday check list.

Most people tend to change their holiday money with their bank or use the bureaux at the airport, however changing money at the airport drives up expenses because banks and foreign exchange outlets share a percentage of their income with the airport operator.

“With our unique franchise business model, 0% commission and the most competitive exchange rates in the marketplace, we can undercut our competitors considerably.”

The average Scot takes around £500 in cash for a week’s holiday to the continent. With an average* exchange rate of €1.236 to the Pound, No.1 Currency customers get €618 for their holiday money.

No.1 Currency operates 77 Bureau de Change outlets in Scotland alone, from Inverness to the Borders. These outlets can be found in all major cities and towns across Scotland. Visit www.no1currency.com to find your nearest store.