Amsterdam Coffeeshop Directory Forums

Hey guys/Girls

am of this weekend to the dam i am from the Uk
just wanted to find out what most people do to exchange money to euro's

do you do it here?
In Airport?
In the Dam

Hope you lot can help with some good advise

Nice 1
Dan

I just use ATM's, but for currency, try Co-op Travel in the UK, or a place by the Swiss Hotel on/near Damrak somewhere...we never did find it. Both well recommended for good rates of exchange.

You might be better swaping it here in the UK m8. As you will almost certainly be charged commission at the airport, either here or when you get to Amsterdam reguardless of if they say "commission free". As simply put I tend to find the airports to hide the commission in there exchange rates, meaning they are lower than say the post office.

There are a number of genuine commission free places in Amsterdam that give you the full exchange rate or slightly better than the UK on any small amounts. I know there is 1 decent place on the courner of Oudezijds Voorburgwal heading into Damstraat, and possably 1 somewere on Damrak heading upto CS. But unless you know where they are then you will get pulled into the big print of "Commission Free" exchange tourist traps that seem to have "best rates in town" etc. Only to find out that when you change say £100-200 the rate is much lower and you have been charged commission. This is because a lot of exchange places tend only to give the genuine deals on stupidly large exchanges of several hundred pounds!. This is hidden in very small print on the bottom of there board or inside somewere!.

Nice 1 Dave

I appreciate that post i was wanting to exchange like £300 before i went then see how i went and use a ATM machine if i spanked the lot

i was told travlex was good to change money over as commision free and give normally best rates?

do you lot think thats best

What I do is swap abut half my money before going, then look around for the genuine exchange places when I get there! (but I do know of the 1 I mentioned above). I always try and make sure I have enough Euro's for at least the first 2 days if possable.

It may help to ask other residents where you stay, or even the staff for genuine places to exchange your money with no charges. Not to sure about travlex as never used it. Just check and ask there minimum rate in pounds to exchange without any other charges, they wont be offended to be asked unless they are tourist traps.

If you do intend to take your ATM card with you please make sure you inform your local bank branch first as you may well find after the first time of using it the card gets blocked for "irregular use" in foreign countries!. Something which is a real pain with a lot of card using bank customers overseas!.

Also some banks charge you a minimum rate everytime you use the ATM machines overseas. Check with your branch about any overseas charges first.

If your UK I reccommend Marks & Spencer or Post Office Both I believe offer commision free and good exchange rates. Last time however, I found HSBC did me a good deal, back when it was around 1.4-5Euro per pound

If your gonna use an ATM then draw out as much as ya can at a time as taking multiple small withdrawls can add up in fees.

I found this oot the hard way a few years back, when I checked my bank statement and had almost £20 of charges at £1.50 a charge.

Still, I think its better value to use ATM's. I have just changed £800odd to get 1000euros here in the uk and I wont be changing anymore. WHEN I burn through that I'll just hit up the Holes in the wall.

Hey mate if your going to use an ATM id recommend opening a Nationwide account as they dont charge you for taking money out abroad.

Im just about to do it myself sometime this week. Think its a minimum of £100 you need to put in to open the account.


EDIT: Oh wait just realised your going this weekend I don't think the card would reach you in time but... I still think its a good idea for you to open one as it could come in handy next time your abroad.

Have a good time in the Dam

I used the Post Office earlier. Think it was something like 1.21 euro per £. Got money in the bank too so will use ATMs while I'm out there if (when) I run out

I tend to just take the money and thats it. As I allow myself a half decent surpluss (about £80) to bring some tobacco back thats pretty much my emergency budget also if things go a little out of the window on the "buying" front. Which the last trip things certainly did.

I recall allowing about €100 a day spending money last time. So dont know what to allow this year with the exchange rate difference or accounting for price rises lol. I mean, as it is today the exchange rate has gone to about €1.22 to the £1 when it was about €1.38 to the €1 last time around.

Hopefully the rate will improve a little as the summer season comes to an end and we head into the winter months!. It cant get much wose..... can it?.

Cheers for the feedback guys

well i just got some advise from my bank i bank with HSBC and have a current standard account but what i have just upgraded to is a PLUS account which i pay like £12 a month but benifits are:

Worldwide family travel insurance
Identity Theft Assistance
no charges on withdrawing from ATM abroad
+ OTHER extras

the thing is i travel at least 2-3 times a year so the insurance is what is good for me and the added bonus of no atm charges is a good one

hope this info helps some one else

i use post office most of the time. wont be getting my money changed till this times next week. all being well