Main site > MoneySavingExpert.com Forums > Household & Travel > Overseas Holidays & Travel Planning > Where's the best place to exchange to Euro? (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Where's the best place to exchange to Euro?
Closed Thread
Views: 37,526
Thread Tools Search this Thread Display Modes
# 1
WOW Factor 0
hotblu
Old 25-08-2007, 1:02 AM
MoneySaving Stalwart
 
Join Date: May 2007
Location: West Midlands
Posts: 290
Default Where's the best place to exchange to Euro?

Hey,

I am going to Portugal next week and wondered if anyone new the best place to convert to Euro. When I last checked the rates where...

Post Office = 1.404
Travelex = 1.428
HSBC = 1.411

Also, I heard that if you convert a large amount in one go you get a better rate... is this true or is someone winding me up?

Any help appreciated.

Thanks

Hotblu
hotblu is offline
Report Post
# 2
bonehead50
Old 25-08-2007, 8:50 AM
MoneySaving Convert
 
Join Date: May 2004
Posts: 62
Default

Marks & Spencer's
bonehead50 is offline
Report Post
The Following User Says Thank You to bonehead50 For This Useful Post: Show me >>
# 3
susank
Old 25-08-2007, 9:44 AM
Serious MoneySaving Fan
 
Join Date: Feb 2006
Location: North East Scotland
Posts: 789
Default

Personally I chose Travelex after watching the rates for a week and they were collected at the airport. If you live in London check Martins front page for cheaper deals where you collect them
Saving in my terramundi pot 2, 1 and 50p just for me!
susank is offline
Report Post
The Following User Says Thank You to susank For This Useful Post: Show me >>
# 4
dmg24
Old 25-08-2007, 9:55 AM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: May 2006
Posts: 29,854
Default

Hi Hotblu,

According to Martin's Travel Money Maximiser, the best rate is currently at Thomas Exchange Global. Don't know where Bonehead got M&S from, there are a fair few ahead of them at the moment!

If you order your currency online, Travelex have a price match guarantee. Therefore, you can order your currency from them, then email them and tell them of Thomas Exchange Global's rate, and they will send you a cheque for the difference!

However, with Travelex do remember that if you do not book in advance, the rates at the airport are not nearly as competitive.
dmg24 is offline
Report Post
The Following User Says Thank You to dmg24 For This Useful Post: Show me >>
# 5
budgetflyer
Old 25-08-2007, 10:29 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Mar 2004
Location: Scotland
Posts: 5,271
Default

my guide tells you how to get up to £50 cashback from travelex.
budgetflyer is offline
Report Post
The Following User Says Thank You to budgetflyer For This Useful Post: Show me >>
# 6
TBeckett100
Old 25-08-2007, 10:35 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jul 2006
Posts: 3,791
Default

high street wise M&S is one of the best, I have a chargecard with them I use when i go on holidays, helps spread the cost a little
TBeckett100 is offline
Report Post
The Following User Says Thank You to TBeckett100 For This Useful Post: Show me >>
# 7
hotblu
Old 25-08-2007, 10:44 AM
MoneySaving Stalwart
 
Join Date: May 2007
Location: West Midlands
Posts: 290
Default

Hello,

Thanks for all the replys, going to look into all the suggestions. Appreciate it.

Hotblu
hotblu is offline
Report Post
# 8
dmg24
Old 25-08-2007, 1:21 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: May 2006
Posts: 29,854
Default

Quote:
Originally Posted by TBeckett100 View Post
high street wise M&S is one of the best, I have a chargecard with them I use when i go on holidays, helps spread the cost a little
But the OP did not ask who 'one of the best' are. If so, we could have done her a nice Top Ten!
dmg24 is offline
Report Post
# 9
Crabman
Old 25-08-2007, 2:20 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Apr 2006
Location: Crabshack
Posts: 9,074
Default

Using a Nationwide card gives £1 : $2.01

Or in the correct currency £1 : €1.47 (rate with nationwide debit card)

Thanks for pointing that out MarkyMarkD

Read the article for details: Spending Overseas: The cheapest way to pay

I'm a Board Guide on the Savings & Investments, ISAs & Tax-free Savings, Public Transport & Cycling, Motoring and Parking Fines, Tickets & Parking Boards which means I'm a volunteer to help the boards run smoothly & I can move & merge posts there. Board Guides are not moderators & don't read every post. If you spot a contentious or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Views are mine and not the official line of MoneySavingExpert.com


Last edited by Crabman; 25-08-2007 at 4:57 PM. Reason: Used $ instead of €, sorry!!
Crabman is offline
Report Post
The Following User Says Thank You to Crabman For This Useful Post: Show me >>
# 10
MarkyMarkD
Old 25-08-2007, 4:54 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Oct 2004
Posts: 9,798
Default

We're talking about Euros, Crabman, so I don't think $2.01 will be very helpful.

dmg24 - Travelex is all very well, but most credit/debit card holders will get charged a cash advance fee. Switch (Maestro) cardholders are OK and some Visa debit cards, but not the majority. I've stopped using them for this reason.

Martin's Travel Money Maximiser is also flawed for this reason - as I've said ages ago on the relevant thread.

Thomas Exchange Global is also pretty useless to anyone who doesn't frequent the West End of London, as they only have branches there.

In fact, the best buy on Martin's Travel Money Maximiser which actually allows you to collect all over the country, and doesn't have the debit/credit card fee problem, is Marks & Spencers.

Last edited by MarkyMarkD; 25-08-2007 at 5:00 PM.
MarkyMarkD is offline
Report Post
The Following User Says Thank You to MarkyMarkD For This Useful Post: Show me >>
# 11
davidlizard
Old 26-08-2007, 10:09 AM
Serious MoneySaving Fan
 
Join Date: Jan 2006
Posts: 1,541
Default

When we went to Greece a couple of months back, we found (of those convenient to us including online) M&S and Travelex were giving just about the best rate of E1.42/.

However, when we were getting money out of cashpoints out there, we were getting E1.49/. M&S/Travelex were still E1.42.

So unless I am missing something, I would be better off getting just enough M&S/Travelex euros to last a few hours, then hit a cashpoint when I arrive. Of course, one must be certain that there are reliable available cashpoints.
davidlizard is offline
Report Post
# 12
hammy the hammer
Old 26-08-2007, 6:15 PM
Serious MoneySaving Fan
 
Join Date: Jan 2006
Posts: 1,794
Default

as it's become traditional on this question and no ones done it yet ......i find the post office very reasonable when i change money when i'm going abroad
hammy the hammer is offline
Report Post
# 13
hammy the hammer
Old 26-08-2007, 6:15 PM
Serious MoneySaving Fan
 
Join Date: Jan 2006
Posts: 1,794
Default

please don't take my advice in the above post
hammy the hammer is offline
Report Post
# 14
MarkyMarkD
Old 26-08-2007, 6:58 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Oct 2004
Posts: 9,798
Default

LOL, hammy.

The Post Office are NOT best value and I can't understand why people are so taken in by their advertising.

They are almost always worse value than M&S, for example, and M&S has branches pretty near to most people.

The Post Office is not a bad option for people who live in the sticks and can't get to M&S. But it certainly shouldn't be anyone's first choice otherwise.
MarkyMarkD is offline
Report Post
# 15
hollydays
Old 26-08-2007, 7:38 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2006
Posts: 11,614
Default

Quote:
Originally Posted by MarkyMarkD View Post
We're talking about Euros, Crabman, so I don't think $2.01 will be very helpful.

dmg24 - Travelex is all very well, but most credit/debit card holders will get charged a cash advance fee. Switch (Maestro) cardholders are OK and some Visa debit cards, but not the majority. I've stopped using them for this reason.

Martin's Travel Money Maximiser is also flawed for this reason - as I've said ages ago on the relevant thread.

Thomas Exchange Global is also pretty useless to anyone who doesn't frequent the West End of London, as they only have branches there.You email them-they send out the money the next day.

In fact, the best buy on Martin's Travel Money Maximiser which actually allows you to collect all over the country, and doesn't have the debit/credit card fee problem, is Marks & Spencers.

Re-Thomas Exchange global-they charge £5 for delivery. Even paying this we have saved money. You join them by faxing them id-its very quick. It doesnt seem to mention about delivery on MSE or their site ,for some strange reason. If a couple of friends are going on holiday at the same time,why not split the delivery charge and save even more.

Last edited by hollydays; 26-08-2007 at 7:53 PM.
hollydays is offline
Report Post
# 16
MarkyMarkD
Old 26-08-2007, 7:53 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Oct 2004
Posts: 9,798
Default

Still have the debit/credit card charge problem, though, hollydays.
MarkyMarkD is offline
Report Post
# 17
hollydays
Old 26-08-2007, 8:01 PM
Deliciously Dedicated Diehard MoneySaving Devotee
 
Join Date: Feb 2006
Posts: 11,614
Default

You pay them by bank transfer.
hollydays is offline
Report Post
# 18
Ety
Old 26-08-2007, 10:03 PM
MoneySaving Stalwart
 
Join Date: Oct 2004
Location: uGg World
Posts: 640
Default

Be careful using credit cards abroad - they are now charging a commission rate. Mine is 3%. I know it's not a lot but could mount up if you were not aware!

Debit cards also charge a handling fee of usually 2%.

Hope this helps,

Etyx
Ety is offline
Report Post
# 19
dzug
Old 26-08-2007, 10:13 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2006
Posts: 2,242
Default

Quote:
Originally Posted by hotblu View Post
Also, I heard that if you convert a large amount in one go you get a better rate... is this true or is someone winding me up?

Any help appreciated.

Thanks

Hotblu
Not true at most 'company-run' places (the staff won't be authorised to shift from the official rates) but an independent BdeC will often be prepared to come to a deal.
dzug is offline
Report Post
# 20
MarkyMarkD
Old 26-08-2007, 10:37 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Oct 2004
Posts: 9,798
Default

Quote:
Originally Posted by hollydays View Post
You pay them by bank transfer.
Thanks for that. It all reinforces why the Money Maximiser is a bit useless and needs to have options for payment method etc.
MarkyMarkD is offline
Report Post
The Following User Says Thank You to MarkyMarkD For This Useful Post: Show me >>
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 8:17 AM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 19 November 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.