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  • FIRST POST
    • Flat Eric
    • By Flat Eric 8th Oct 16, 8:42 PM
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    Flat Eric
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    Do you haggle when buying currency?
    • #1
    • 8th Oct 16, 8:42 PM
    0 WOW
    Do you haggle when buying currency? 8th Oct 16 at 8:42 PM
    It never occurred to me when buying currency for a recent trip to ask if that was the best rate/could they do better?

    I thought I did well visiting all the various exchange places to see what the rates were and which was best.....

    Do you haggle and who do you find the most accommodating?

    Ps I got myself in a right pickle selling it back! (I.e befuddled that despite the buy back rate being higher (than the sell rate) you get less cash for your pounds back (Can anyone offer a dummies guide)?
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Page 1
    • richardw
    • By richardw 8th Oct 16, 9:01 PM
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    richardw
    • #2
    • 8th Oct 16, 9:01 PM
    • #2
    • 8th Oct 16, 9:01 PM
    How many thousand pounds worth are you buying?
    Posts are not advice and must not be relied upon.
    • Voyager2002
    • By Voyager2002 9th Oct 16, 2:57 PM
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    Voyager2002
    • #3
    • 9th Oct 16, 2:57 PM
    • #3
    • 9th Oct 16, 2:57 PM
    Yes, always.

    I try to find out what is available around town and look on-line so I have some idea of what is reasonable, then go to the exchange booth and see how I get on.

    I never exchange currency in the UK, so all my experience is with independent dealers in places like India and Malaysia. I have always found them willing to be generous in order to make a deal.
    • eDicky
    • By eDicky 9th Oct 16, 3:52 PM
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    eDicky
    • #4
    • 9th Oct 16, 3:52 PM
    • #4
    • 9th Oct 16, 3:52 PM
    Yes, I always haggle, or at least ask for a better rate. Depending on where I am (not in a bank of course), and if I have a decent amount to exchange.

    But I would never buy foreign cash in the UK, when there are cards available that give the prefect rate, such as Revolut, Halifax Clarity etc.

    In the UK I have only ever sold foreign cash for pounds, which is what you mean by 'by back'. The rate is higher because they are asking for more of the foreign currency per pound than the mid-market rate, just as they are giving you less of it when you buy it - that's how they make their profit. Even then there's no harm in asking for a better rate, you may succeed if they see that you know what you're talking about. If they appear offended you are in the wrong place.
    Evolution, not revolution
    • Gloomendoom
    • By Gloomendoom 10th Oct 16, 8:06 AM
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    Gloomendoom
    • #5
    • 10th Oct 16, 8:06 AM
    • #5
    • 10th Oct 16, 8:06 AM
    No. I can't imagine I'd have much success haggling with an ATM.
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    • vacheron
    • By vacheron 10th Oct 16, 8:18 AM
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    vacheron
    • #6
    • 10th Oct 16, 8:18 AM
    • #6
    • 10th Oct 16, 8:18 AM
    A local travel agent told me once that whenever I had money to change to shop around and then come to them and they will do their best to beat the best quote.

    These were reasonable sums at the time though but they have done similar for smaller sums and have generally succeeded.

    As Gloomendoom hinted however, our changing money days are now mainly over as no exchange company can come close to the rates our Clarity card gets with overseas ATM.

    We now keep an envelope full of the leftover currency from our previous holidays which is usually enough to last us through to the airport and to the first overseas ATM.
    Last edited by vacheron; 10-10-2016 at 8:21 AM.
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