Ending expensive holiday money charges.

Did you know that Britons lose over £1bn in hidden charges when changing up money to take on holiday?  This was the finding of research carried out by the consumer action group, Consumer Focus, in their subsequent Super Complaint to the Office of Fair Trading in autumn 2011.  Transactions carried out in a Bureau de Change are often described as 0% commission, but this statement and the rates given to consumers is simply not true when the Buy & Sell rates offered by Bureau de Change are compared to the daily ‘interbank exchange rates’ (these are the foreign currency exchange rates that banks and other large financial institutions use to deal between each other).  Bureau de Change and Banks use the difference, known as ‘the spread’, in both Buy & Sell rates and the interbank rate, as a means to lock in a profit and the amount of  the spread rises substantially if you carry out your transaction at an airport, a tourist zone or require an ‘exotic’ currency.  So, claims of 0% commission are totally misleading – they’re making a pretty good profit through their loaded exchange rates! As Mike O’Connor, Chief Executive of Consumer Focus noted:

‘We also want to see an end to deliberately misleading marketing phrases such as ‘O% commission’, as services are not fee-free. Consumers have a right to know how much they are paying for their transaction and whether there are better options available.’

Don’t get Bureau de Short Changed - there’s no need to give away your hard earned cash to a middleman thanks to a new, totally free to use website www.currencyswapshop.com  

This new and innovative site allows sellers to advertise their leftover holiday cash for sale via both auction and ‘Swapshop’ platforms.  Both sellers and buyers are encouraged to get better value by aiming for the daily interbank rates by setting reserves, and bidding accordingly.  It’s totally free to use, and gives users the fun and thrill of an auction with the added benefit that they will get value for money too.  Alternatively, users can opt to use the ‘SwapShop’ portal to swap goods for foreign currency (or vice versa) or even swap currency for currency – handy if you have leftover US Dollars from your last holiday and are planning your next trip to Australia, for example. Why keep those leftover foreign notes and coins in a drawer when you could sell or swap them on www.currencyswapshop.com


The site is free to use, registering takes less than a minute.  Join the holiday money revolution today!

Demand better value for your holiday buck!

Hi everyone,

If you missed it just before Christmas, there was a report done by Consumer Focus into the stealth charges that banks and Bureau de Change levy on your holiday cash transactions.  We lose over £1bn a year on these fees, despite claims of 0% Commission that are displayed by most Bureau de Change's, Post Office, Banks etc.

Here's the link to the Super Complaint sent to The Office of Fair Trading by Consumer Focus:  http://www.consumerfocus.org.uk/files/2011/09/Currency-super-complaint-findings-factsheet.pdf

We've just revamped our website to allow everyone to exchange leftover holiday cash with each other, thus bypassing banks, Bureau de Changes and all of their horrible charges that could be better spent on your holiday. The site is totally FREE TO USE so please come by and take a look.

www.currencyswapshop.com

Currency exchanged, not short changed.

Getting Better Value For Your Travel Cash

Well, with the rain pouring down outside it's easy to see why swathes of people will soon be packing their cases and heading out to warm and sunny places for a well earned break.

What isn't so easy to understand is why many of these same people will buy their holiday cash from the local bank, Post Office or Bureau de Change. All of these make a small fortune every year from skimming the true exchange rates and returning you, the consumer, a rate that bears no resemblance to the true interbank exchange rates that are the truer index of how much the pound is worth against the rest of the worlds currencies.

So, how do you get your hands on better value holiday money without using a bank or other money exchanger? Easy, come and use www.currencyswapshop.com - it's FREE TO USE and was set up because I as a consumer was sick and tired of getting such poor value when I changed up my holiday cash, and then to add insult to injury when I went to change my surplus foreign cash back into sterling I got stung again!

The ideas simple. If you've got foreign cash leftover, put it on auction at www.currencyswapshop.com. You can put a reserve price on it to ensure you get better value than you would at a Bureau de Change. Fellow travellers can then bid on it. The successful bidder either collects and pays you in cash, or you post it recorded delivery and the buyer pays you via PayPal, PPP or bank transfer.

Who needs banks when we can just deal direct with each other and all get better value holiday cash?

You can join and start buying and selling your currency today at https://www.currencyswapshop.com/register.php? The sites totally secure too!

Currency Exchanged, Not Short Changed.

Are you planning your trip abroad soon and need some local currency for your destination?

Or have you just come back from a trip overseas with a bit of leftover foreign currency?

Either way come and join us at www.currencyswapshop.com - the site that lets travellers buy and sell currency with each other for rates far better than you'll ever get at a traditional Bureau de Change.  Why are the rates better?  Because Currency Swap Shop cuts out the middleman and their trimmed rates.

It's totally free to use, why not register today for a chance to win £1000?  https://www.currencyswapshop.com/register.php?

The Holiday Money Revolution Launches Sunday 13th March at 14.00 GMT

Fed up of getting an unfair exchange rate from a traditional Bureau de Change?

There is a new and exciting way to get a fairer price for your leftover holiday cash - list it for sale to someone who needs it!

www.currencyswapshop.com is the web's first dedicated foreign exchange auction site.

Join the holiday money revolution, IT'S TOTALLY FREE TO USE.


Currency Exchanged, Not Short Changed.

We launch on Sunday 13th March from 2pm London time and we'd love to see you join and get a better exchange rate for your holiday cash.