With the first retail store in Seaham and now headquartered in Sunderland, Hays Travels has risen above the ranks as an independent travel agent renowned all over Europe, specialising in the providence of quality holidays, customer service and a good value for your money. With an annual turnover of approximately £1 billion and over 1700 employees, the company has attained to set up a little over 180 retail shops spread across the region with an additional 240 in off-site employees.
As a travel agent, one of the key services Hays travels offers is holiday money. They ensure that even as they organise and plan for your next trip, they top that up with stocking you up with foreign currency, called holiday money.
Hays Currency Exchange Rates
Last updated: Jan, 21 3:00
|Currency||Rate||750 GBP Buys|
|Hong Kong dollars||9.9508||7,463.10|
|New Zealand dollars||1.9383||1,453.73|
|Peruvian nuevo sol||4.1228||3,092.10|
|South African rand||18.6184||13,963.80|
|South Korean won||1475.2||1,106,400.00|
|United Arab Emirates dirham||4.7055||3,529.13|
Fundamentals of holiday money
Unlike any other institutions or facilities that can give specialist money services, hays travels is a specialist in organizing for your holidays and have a very straightforward process in giving you holiday money.
It is important for a customer to get in touch with any of their local branches and make inquiries on the various currency packages and find the one that suits their needs. However, it is important to keep in mind that they do not offer holiday loans, holiday insurance or money transfers. You will have to seek these services from third party providers.
Hays travel holiday money associated fees
Unlike any other travel agent in the market, Hays offers 0% commission the foreign currency they provide you with and no hidden costs for their click and services. This holiday money service is basically free to its customers, guaranteeing no charged commission at the end of your trip and want to convert back your foreign currency back to pounds.
However, even with the 0% commission charged on the exchange rate, this speaks volumes about the exchange rates themselves.
Hays exchange rate
Like every other currency exchange institution, the most critical choice is that of the choice of exchange rates to use while offering its services. To do this, there are two very critical factors that must be considered:
- Analysis of the mid-market rate: It is important for companies that offer foreign exchange services consider the average of the buy and sell rates that are currently prevailing between the two currencies of interest. This helps them find a baseline for them to conduct their businesses.
- Rate mark-up: After the mid-market rates have been decided upon, they now mark up their rates basing on the average of the buy and sell rates. This gives them the chance to earn a few coins more from your money.
With that in mind, a glance at Hays travel’s holiday money website, you will notice that exchange rates provided are not mid-market rates. This is because these rates have been marked up by Hays to enable them earn some profits by conducting these services.
As mentioned earlier, the 0 % commission speaks volumes of the exchange rates. It is evident that there are some concealed costs you will have to incur while exchanging your currency. It is a marketing tool that works for them perfectly.
Hays online holiday money services
The company created the ‘click and collect’ online service tool that helps its customers to order their money from their website and collect later from one if their local branches. However, it I important to get in touch with them first and make an inquiry from proper directions on online booking of holiday money if you have an upcoming holiday trip. This will save you a lot of headaches and hassles before time.
However, it is unfortunate that in this day and age, Hays travel does not offer a money card, unlike many other companies that have embraced the use of money cards. These money cards are issued to clients and can be topped up with both local and foreign currencies that makes it a lot easier for customers to make their payments and purchases in destinations where these cards are widely accepted. This limits customers from carrying bulks of cash around limiting the issue of theft and losing money.