Where's the best place to exchange £ to Euro?

[hotblu]

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

[bonehead50]

Marks & Spencer's

[susank]

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

[dmg24]

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.

[budgetflyer]

my guide tells you how to get up to £50 cashback from travelex.

[TBeckett100]

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

[hotblu]

Hello,

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

Hotblu

[dmg24]

Originally Posted by TBeckett100

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!

[Crabman]

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

[MarkyMarkD]

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.

[davidlizard]

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.

[hammy the hammer]

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]

please don't take my advice in the above post

[MarkyMarkD]

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.

[hollydays]

Originally Posted by MarkyMarkD

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.

[MarkyMarkD]

Still have the debit/credit card charge problem, though, hollydays.

[hollydays]

You pay them by bank transfer.

[Ety]

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

[dzug]

Originally Posted by hotblu

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.

[MarkyMarkD]

Originally Posted by hollydays

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.