Cheapest way to convert Euros back to Pounds?

chog24
chog24 Posts: 96 Forumite
in Flights, currency & car hire
Hi everyone,

We recently came back from visiting my (Italian) partner's family and they gave her some euros in cash as a gift just as we were leaving. We need, therefore, to find the cheapest way to convert them to pounds sterling.

Does anyone have any ideas, please? I've searched the site but have really only found articles about the cheapest way to buy foreign currency.

Thanks in advance,

Choggy.

Comments

  • Doshwaster
    Doshwaster Posts: 6,135 Forumite
    Name Dropper First Post First Anniversary
    Often the "cheapest" way is to keep it in Euros and then use it next time you go to Euroland.

    Either that or go down to your local Post Office, M&S or currency counter and see how much they will buy if for.
  • fifeken
    fifeken Posts: 2,701 Forumite
    First Anniversary First Post
    Find someone going to Euroland on holiday and do a deal with them.
  • chog24
    chog24 Posts: 96 Forumite
    Thanks for those who've replied so far.

    Sadly, saving it til next time really isn't an option - it's a relatively large amount and she's particularly skint right now. I do like the idea of trading with someone who's going to Euroland and will see if any of my facebooky friends have a trip planned.

    Failing that, it'd be the posty from the sound of it... unless anyone else has any better ideas?
  • jnm21
    jnm21 Posts: 853 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    fifeken wrote: »
    Find someone going to Euroland on holiday and do a deal with them.
    My thoughts exactly.
    Certain OTT members have caused me to add this disclaimer: all advice given is free of charge & as such should be taken to be IIRC (as I don't spend hours researching all answers :eek: )!
  • McKneff
    McKneff Posts: 38,819 Forumite
    Name Dropper First Anniversary First Post
    The post office robbed my eye balls out when i brought some back.

    I would just pay them into the bank.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • dzug1
    dzug1 Posts: 13,535 Forumite
    First Post Combo Breaker
    http://travelmoney.moneysavingexpert.com/ has a buyback section - the best ones have very few offices though. Helps if you are in London
  • CountryGoose
    CountryGoose Posts: 302 Forumite
    McKneff wrote: »
    The post office robbed my eye balls out when i brought some back.

    I would just pay them into the bank.

    Who would rob your eye balls instead of the post office :rotfl:


    Second the idea to do a deal with someone who's going away.
  • chog24
    chog24 Posts: 96 Forumite
    OK, for all who replied to this thread: thank you! And in case anyone is 'watching' I thought it would be good to feed back.

    I did consider trying to find a pal who was going to Euroland to do a deal, but needed the cash more quickly than anyone I knew needed Euros, so that kinda went out of the window.

    I happen to work in the City of London, right above an HSBC (who my partner banks with) and Marks and Spencer with a Bureau De Change, but also happened to spot a foreign exchange place nearby with huge queues outside it at lunchtime yesterday (which has to be a good sign, in this area, I figured!). This morning, I popped and got quotes from all three places.

    M&S and HSBC both quoted £387 (plus pennies)
    City Currency Exchange, in The Arcade, just behind Liverpool Street station quoted £401 on the nose.
    To put this in perspective, XE.com say that 500 euros are currently worth £411.54

    Had I checked this thread and found dzug1's response in time, I'd have been able to get about five quid more, had I had the time to travel to London Bridge or Canada Water. But I'm pressed for time and feel like I've got a good enough deal so I'm not bitter about forgetting to check back to this thread.

    Thanks again to all who responded.

    Choggy
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