A FairFX survey carried out for the BBC has shown that Southampton airport’s Moneycorp allegedly had the “worst rate” at any airport bureau de change.

The average euro rate across 16 UK airports was found to be higher, at an average of 95 euro cents to the pound, with Heathrow and Stansted’s outlets offering 91 euro cents and Newcastle airport’s Travelex offering the highest rate at €1.05 for £1.
 
James Hickman, chief commercial officer at FairFX, told the BBC that the fact airport rates are so low shows that the “bureaux de change firms are taking advantage”.
 
Hickman added: "In reality, they are ripping off the customer, who is effectively captive as they have nowhere else to buy their money at an airport.
 
"At most airports and terminals individual companies have a monopoly.
 
"They should be regulated as there is simply no justification for charging someone 14% [the average margin between the tourist and money market rates] to change their pounds to euros.”
 
Pauline Maguire, retail director at Moneycorp, said: "The reason for our higher airport rates is the significant cost associated with operating there - from ground rent and additional security to the cost of staffing the bureaux for customers on early and late flights.
 
"An easy and more cost-effective way for customers to buy travel money is to pre-order online and collect at the airport.”