The crap pound-euro rate

TheTartanToker · Post by **TheTartanToker** » Fri 9th Jan 2009 12:09 am

Just a quickie.

If you're planning to go to the dam or anywhere else that uses euro anytime soon then the best place on the market to change pounds to euros is http://www.travelex.co.uk u need to order online and collect at a branch. i got 1.02 euro to the pound on Tuesday (yes it sucks but its the best rate out there).

Dont know if its best for changing other currencies to euro though.

TT

:edit: Now getting 1.07 euro for the pound.... ''GUTTED''
Im £20 quid down now

Boner · Post by **Boner** » Fri 9th Jan 2009 12:14 am

The Post Office gives the same rate, pretty sure if you order enough Marks & Spencer give the best exchange rate as well.

TheTartanToker · Post by **TheTartanToker** » Fri 9th Jan 2009 12:22 am

I know the post office charge £5 on orders up to £500 making it more costly than most competitors if changing under £500, they do however offer very nearly the same exchange rate (if ordered online) different rates when changing at a post office branch.

Dont know about Marks & Sparks though.

Travelex dont have a fee for ordering euros online, coupling that with the fact that theres a branch at pretty much every UK airport making it conveniant.

If ordering over £500 of euros then have a sniff at the comparison websites 'moneysupermarket' etc....

SoulRider · Post by **SoulRider** » Fri 9th Jan 2009 12:26 am

I go to marks and Spencer. They match the post office, and I don't get charged no matter how little I change.

At least always has been that way. Last trip I didn't change any money and just used the cash machines, much easier, and slightly cheaper I found. When exchange rate hit .98 I was getting 1.016 and when it hit .96 I was getting .999. So I'm going to stick with that. I'm sure I'll win some and lose some, but hey.

TheTartanToker · Post by **TheTartanToker** » Fri 9th Jan 2009 12:32 am

Good shout Soulrider, what card was that you were using?

We could maybe use this forum page to share advice on the best sources for currancy exchange in the current tough economic climate.

SoulRider · Post by **SoulRider** » Fri 9th Jan 2009 12:57 am

Just my standard bank cash card. Check with your bank and see what their rate is. Be wary though, some may charge you for the privilege of a withdrawal.

TheTartanToker · Post by **TheTartanToker** » Fri 9th Jan 2009 01:01 am

I know mine certainly does (RBS current account) also the missus card charges hefty (HBOS current account) for cash withdrawls abroad.

SoulRider · Post by **SoulRider** » Fri 9th Jan 2009 01:05 am

Just checked my statement again, mine is a £1.50 withdrawal charge per transaction for a Halifax card cash (same bank then

)

I can't be bothered to work out what that would cost me, but I normally take out €100-€200 at a time, so it's not too bad. Thinking about it, I get charged £1.95 to use the cash machine up the road, so it's swings and roundabouts, lol.

Boner · Post by **Boner** » Fri 9th Jan 2009 01:43 am

The Post Office have never charged me anything no matter the amount changed.

moby69 · Post by **moby69** » Fri 9th Jan 2009 12:26 pm

Boner wrote:The Post Office have never charged me anything no matter the amount changed.

Same .

stew1974 · Post by **stew1974** » Fri 9th Jan 2009 03:27 pm

stew1974 · Post by **stew1974** » Fri 9th Jan 2009 03:29 pm

TheTartanToker · Post by **TheTartanToker** » Fri 9th Jan 2009 10:04 pm

stew1974 wrote:the post office may be commission free but does not offer the best exchange rates.

Yeah, thats the one, if u order online, then you get a competitive rate, if done in branch then the rate isnt as good, so in short, if you wanna use the post office, then order online.

'''I correct myself, apologies, post office dont charge a fiver if ordering under £500, got mixed up with someone else.'''

Also remember 'commision free' doesnt necesserily mean you get the best deal.

lucknumber13 · Post by **lucknumber13** » Sat 10th Jan 2009 04:16 pm

Hey, I'm off in 9 days

, the post office online has been the best rate I've found anywhere, you can order it online, get it delivered to a branch and collect when you want. You still benefit from the online rate then.

Ash333 · Post by **Ash333** » Sat 10th Jan 2009 04:42 pm

stew1974 wrote:nationwide flex account does not charge for withdrawels from atm's abroad. also exchanges at offshore not local rates, meant to be the best way to get money abroad if british.

confirmed - you get the visa interbank rate, currently
"Currencies fluctuate every day. The rate shown is effective for
transactions submitted to Visa on January 10, 2009.

1 British Pound = 1.11 Euro" - from http://www.corporate.visa.com/pd/consum ... R&rate=0.0

compared with 1.0874 at the post office - http://www.postoffice.co.uk/portal/po/f ... d=19300210

To all the people posting that M&S or the Post Office are the cheapest, shut up. It worse to post incorrect information than none at all.

Open a Nationwide account. If for whatever reason this isnt an option then use the MoneySavingExpert Travel Money Maximiser tool ( http://travelmoney.moneysavingexpert.com/)