UK bank first direct has announced the extension of its commission and fee-free online travel money offer until the 31st of January 2006. The new currency exchange service, first launched in June 2005, provides holidaymakers a competitive exchange rate and next-working-day home delivery for their foreign cash and travelers’ checks.

According to Richard Kimber, first direct’s chief executive, the company decided to extend their online travel money ordering service until the end of January due to positive market response. “So now, with holidaymakers starting to book their skiing trips and half-term just around the corner, travelers seeking some winter fun will be able to get a great deal on their holiday money too,” he added.

Recent studies from Moneyfacts.co.uk show that just 55 percent of consumers shop around for the best deal on their travel money. Some providers charge up to two percent commission (with a minimum of £5) and handling charges of over £5. This means the average exchange of £5502 by British tourists could leave them as much as £163 out of pocket each time. Rachel Thrussell, Head of Savings at Moneyfacts.co.uk commented, “With a little shopping around, it’s very easy for holidaymakers to save money. With most providers you don’t have to be a customer, but do check on exchange rates, as these can vary.”

Customers interested in first direct’s online travel money service can visit www.firstdirect.com.