Most efficient way for Currency Exchange.

kmhtkmhtkmht

I am wondering what is the most efficient to change Pounds into Dollars or Euros?

schiff

kmhtkmhtkmht wrote:

I am wondering what is the most efficient to change Pounds into Dollars or Euros?

Is there a missing 'way' after efficient, unpronouncable?

If so - is that cash Pounds and how much?

grumbler

For cash the most efficient way is using Nationwide debit or cash card. See The cheapest way to spend overseas: save 6% (and discussion).

Otherwise see Sending Money Overseas: Moving money large or small (and two discussion threads).

kmhtkmhtkmht

I am just wanting some spending money when I travel to europe - I am just merely trying to figure out the best way to do it - credit cards are annoying and especially overseas they make you call home and chat to verify details and all that - embarassing and a severe waste of my time - cash is the best - so, what is the best way to change GBP into EUROS? i.e. 1000 Quid.

Alechjo

I solve inverse problem, making pounds from Euros my parents give me. All high street exchanges would give 0.65-0.66. I have a debit Visa from my home country bank, it charges 1% for cash withdrawal, but the rate is interbank rate 0.67-0.69! Making purchases on it is even better. I saved lots of money this way. I calculated that is is also better than buying pounds in my country.

May be it is still worth putting all on Nationwide card and then withdrawing in some civilised place (at least one should be in every country )?

Or try online currency converters, there are many of them and they never publish rates, asking to register with them and then give call - also much fuss, I am afraid.

Careful_ly

As Grumbler has already posted, the Nationwide flex account is the way to go. You can cash as much or a little as you want,(£300 per day I think) you get bank rate not tourist rate and no charges. Can be used very easily in Europe, cash machines are everywhere these days.