Size of high st bank currency exchange charges revealed

Based on ‘mystery calls' to banks and brokers, Foremost Currency Group found investors who entrust international payments to high street banks for properties worth €200,000 will receive only £178,303 for their money, versus £174,211 with a specialist broker. Foremost says the calls were conducted within a fifteen minute window to prevent movements in the money markets skewing the results. The company called fellow specialist banks and brokers, Moneycorp, Travelex and Currencies Direct, with an average rate of 1.1480, translating to £174,211 spent, plus transfer fees of £3.75. It al...