London hubs set for foreign currency ATMs

Travellers flying overseas from airports in London are set to benefit from a new network of cash machines that allow the withdrawal of foreign currency.

Operating on the same exchange rate as the bureau de change, the cash machines from Raphaels Bank will offer 24-hour access to euros and US dollars without commission fees, reports the Times.

The newspaper says that the machines will be launched across the capital following previous installations at Gatwick Airport and a number of railway stations.

Mike Smith of Raphaels Bank said that the new ATMs could offer a better alternative for passengers who either queue at the bureau de change for their foreign currency or are stung by high charges when withdrawing cash abroad.

"With currency-dispensing ATMs being installed in more and more locations for travellers, there's a new way to get euros or dollars which is quick, easy to use, convenient and good value," he commented.

Earlier this month, UK payments association Apacs and the Association of British Travel Agents issued a guide to making payments abroad, which offers advice on the charges that holidaymakers may incur when using cash machines abroad and tips on how to use plastic safely.

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