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Travellers Face Hefty Forex Costs
Travellers "face hefty forex costs" by Cheap Flights Booker UK
Holidaymakers travelling overseas are falling victim to "stealth charges" when they change currency, a foreign exchange provider has claimed.
Fair FX carried out a survey and discovered that just 4% of travellers understand that they can be charged even when money changing services are advertised as being "free".
The poll also found that almost two-thirds of holidaymakers (63%) said that they would feel deceived if they realised they were being charged and a similar proportion declared they would never use the company again.
Stephen Heath, chief executive of Fair FX, said: "Opaque or hidden charges in the travel money sector are frequently misleading and also remove a consumer"s right to make an informed choice.
"Consumers should watch out for the worst misleading practices which could cost them dearly … like advertising 0% commission but offering a poor exchange rate instead [or] quoting a competitive rate online, but not matching it in store."
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