We routinely track a basket of competitor exchange rates in order to compare the cost of buying travel money.
We collect our competitors' data from reliable online sources widely used by the general public to compare the exchange rates available from a number of providers, including our basket of competitors.
We compare this with data randomly collected directly from our competitors' websites. We believe this to be a fair and honest way to compare our exchange rates with competitors.
We try to ensure that our basket of competitors includes a high street bank, a supermarket, a high street bureau de change, an online bureau de change, and the Post Office*. We can't always obtain data from all of them, but if we have problems collecting data for any length of time we simply replace them with a similar provider.
Each time a customer buys travel money, we compare the cost of buying the same amount of travel money from each of those competitors, and store the best saving . You can see the total savings since your membership began, as well as the savings in the current subscription year.
(*) Please note that we use the online rates for the Post Office based on buying a minimum of £1,000 in foreign currency. However, the Post Office does offer different rates for smaller and larger quantities. We have discovered that some Post Office franchises offer much worse walk-up rates than Crown Post Offices and online.