bikeonroad Exchange Rates

You may have noticed that a lot of travel web sites include currency converters -  and we don’t! The simple reason is that currency converters do not reflect the true exchange rate. A currency converter is really nice little trick to make you think something is cheaper than it really is! (It is also a clear indicator that you are not booking with a licensed UK tour operator and that your holiday and your money are at risk.)

Currency converters work on the bank rate for currencies. This is a LOT better than you or we can get when we want to transfer money or pay by credit card in a foreign currency. In our experience the rate you will pay is on average 4-5% worse than the currency converter rate, and even up to 7-8% (‘commission free’ has to be paid for somehow, banks don’t do anything for nothing, you know that!). If you don’t believe us, call up your bank or credit card company and check their rate. Alternatively, check online with a popular currency converter,, which gives bank rates and retail rates.

A couple of examples from 05 Oct 2007 (also a reminder of how much exchange rates have changed ...)

NZ dollar 2.6880 (what you think you will pay)
NZ dollar Amex 2.5593 (what you will actually pay)
US dollar 2.0358
US dollar Amex 1.9524
Euro 1.4424
Euro Amex 1.3802