Well, every cent difference in the exchange rate is going to gain or lose you 4 Euro on that amount, so I wouldn't worry too much about it. Worth looking around for at least a competitive rate though.
Morning all
Looking to buy some euros for the summer hols.... approx. £400 worth
Is there a good time to buy or is the difference in exchange rate so low- its not worth worrying about for this amount....?
Any info appreciated
Mike
Well, every cent difference in the exchange rate is going to gain or lose you 4 Euro on that amount, so I wouldn't worry too much about it. Worth looking around for at least a competitive rate though.
Try your local travel agents and find who fives the best rate. Be careful, our local Co-op ( Thomas Cook) tried to offer me a stupid exchange rate that improved significantly when I started ranting.........I think the staff are trained to give the worst rate you’ll accept!
Check the interbank rate and expect to get slightly less.
Paul
I am going to need some in about 8 weeks.... I usually get mine from the post office...
Regards
V
For that amount of money I'd use a comparison site to get a feel for who the best three are for the given currency and then go to whoever is most conveniently located for you. No point spending hours/lots of effort trying to strain out the best rate when it might only net you a few extra euros.
It's £400, the difference between all of them will be the price of a high street coffee.
Thanks all for the advice..... To be honest I suspected as much
I think I will just do the usual and get locally from ASDA - I've had a quick look online, and for that amount it seems the rates are just as competitive as anywhere..... and I can't see them changing much in the next few weeks.
Cheers
Mike
Get a Revolut card, then just use cash machines, pay for meals etc with it as you would in the UK.
Another convert to the Revolut card. Recently used one in Singapore and all over Thailand and without exception it was great. Really good exchange rate and low fees for cash withdrawals. You have to pay £5 I think for the card initially but well worth it.
Sent from my iPhone using TZ-UK mobile app
Just taken a quick look at Revolut - what's the charges for cash withdrawals after your free limit? Currently they're showing that up to £200/month is free which doesn't seem much.
Edit: Found it - 2% of withdrawal value. Seems like my existing credit card costs the same - only drawback is that interest is charged from the date of withdrawal which is balanced by the fact that I'm never going to need to top it up.
Last edited by Scepticalist; 23rd April 2018 at 10:53.
I think it’s 2% of the withdrawal above £200. I found it much better than the equivalent fees/exchange rate that you would get via your debit card. Not sure if some banks still offer good credit cards to use abroad - Halifax used to but not sure if they still do.
Sent from my iPhone using TZ-UK mobile app
Interestingly, using your debit card can often be the cheapest solution:
https://www.nationwide.co.uk/support...ab:foreignCash
I always have a quick look on money saving expert and then find the most convenient one that's there or there abouts - will be peanuts in difference to be honest.
Like many have said, the difference to you on how many euros you will get will be peanuts.
I buy euros every month on direct debit and the rates swing all over the place all of the time. Some times you do well and some times you don't, that is a simple fact of life.
If anyone could reliably predict exchange rates they would be a multi millionaire and would not be wasting their time on a WIS forum.
Get a Halifax Clarity Credit Card and use an ATM in country.
Use a comparison site to get the best deal but £400 isn't a lot so won't make a huge difference
Sent from my iPhone using TZ-UK mobile app
FairFx Euro card give good rates,easy to top up and MasterCard so use anywhere- if only using in Euro zone it's no comm as your sterling is put on as bought euros. Take some readies as welll cos you never know!you can top up while away with internet access and ring fence what's on the card so not exposing your debit cards to anyone.
Last edited by meridian; 23rd April 2018 at 20:44. Reason: Addition
That’s got to be about the most expensive ways to exchange currency.
I only ever use my card these days, unless I’m transferring a fair amount of cash - it’s always worked out much cheaper than any fx rates from a bank or travel agent before travelling.
It's just a matter of time...
As you may have worked out Thai banks charge you around £5 per ATM transaction and there’s no way around it.
The fee is added, even if you use a Halifax Clarity or similar.
Just a money making ruse, as I was in Indonesia a few months before Thailand and no fees where added whatsoever.
Buy at night..
On a more serious note, just draw cash from cash points (try to stick to main banks) when you get there? if it was 40/400K it could make difference, otherwise..
Fas est ab hoste doceri
Most ATMs in the US and Latin America also charge you for the privilege of using them. The most cost effective way to get cash overseas is to use a service such as Azimo to make a direct transfer that you can collect from a named bank on arrival. Not usually worth it for a short trip but saves a wedge if you need a large quantity of funds.
Generally withdrawing cash from an ATM in country is the best option when on holiday, with a second card and a few dollars in your pocket as backup. That said, I had all my cards pinched in Indonesia and was able to get a cash advance and replacement card from Visa issued the next day.
That'll teach not to talk to the strangers in the Mixwell bar ;)
Last edited by VDG; 24th April 2018 at 00:34.
Fas est ab hoste doceri
- - - Updated - - -
Correct.
Use a Monzo card for my overseas stuff these days.
Spot exchange rate (not tourist) and no fees. Had a couple of small ($3) fee’s for using an ATM but over the last 10 weeks we have saved almost £400 in and amongst the exchange rate differences and general lack of fees.
Buying from a travel agent is the worst way to get currency, online is better (for large amounts), decent card is best.
When you look long into an abyss, the abyss looks long into you.........
Some interesting stuff here... I've never heard of half of these cards..... I certainly need to get out more....
Thanks for the info
Mike
Halifax clarity card use it everywhere you can,perfect in some country’s like France not in Germany/Austria.
Looks at the rates in money supermarket and order cash for when the card is not accepted.
but basically we are stuffed after the brexit vote.
And Europe’s supposed to be equal France no problem,Sweden you can’t use cash.
https://www.german-way.com/germanys-...-stinkt-nicht/
North Americans are often frustrated by the lack of credit card acceptance in Germany. Americans and Canadians, so used to paying with plastic, are dismayed to discover that once they stray from the tourist circuit, their AmEx, MasterCard, or Visa credit cards are often useless in German-speaking Europe. It’s another cultural difference, and it’s not a minor one. You need to wrap your head around the fact that cash is king in Germany, Austria, and Switzerland. As the Germans say, “Geld stinkt nicht.” (“There’s nothing wrong with money.” lit., “Money doesn’t stink.”)
I did a load of shopping in Lidl in the south of France in Feb only to find I'd left the euros back where we were staying. On the off chance it would work (to save me leaving the shopping and walking home empty handed) I tried my UK debit card. No problem, straight through. Not discussed it with the bank previously, just pulled it out of the wallet and binged it on the reader as you would at home. Went back with my shopping a happy chappy.
This is the best guide I have found.
https://travelmoney.moneysavingexper...215.1519839616
Every single time I have checked the Halifax card comes out the best rates.
I can tell you the worst time to buy.... After Mark Carney speaks.
Every time the Pound starts to gain a bit on the Euro and the US Dollar he opens his mouth and the Pound falls off a cliff again.