In the old days, the question was “How many euros to the pound?”… sadly, now it’s the opposite way round, “How many pounds to the euro”…. The Brexit effect! Most travelers already know not to exchange their currency at the airport, as it is a well-known fact that they offer the worse rate possible.
Despite this, it is astounding that there are still queues at the airport kiosks with holidaymakers readily handing over their hard earned £’s for a boarding on criminal exchange. These companies always cite the fact that they have to pay premium rent to the airport authority as their excuse, which may well be the case, but is that fair?
Today’s rate here in Benidorm is 1.095, meaning that for £100 you will get €109.50 – well at the Indoor Market and other reputable exchange places at least. Be warned though that there are also unscrupulous kiosks here, namely a few doors down from the Sol Pelicanos hotel!
However, for that same £100 travelers were being offered a meager €90 at Alicante airport, a whooping €19.50 LESS. In real terms, that is 13 pints of beer or two 3 course Menu del Dia's including a bottle of wine.
For those that decide to pay for purchases with a credit card, when asked how you’d like to pay ALWAYS opt for euro’s – or the local currency and never sterling. Although it may seem attractive, as you’ll know exactly how much it will cost, you will be offered a far lower exchange rate. The better alternative would be to use a pre-paid currency exchange card.