LArge sum of euro's to exchange.

kaizen108

Dear All

Please could you help- Im confused what to do-

I inherited 10,800 euro's two years ago- I didnt know what to do with them- so i just held on to them in my bedroom -should I now take the opportunity to change them over to sterling- my dad says they have gone up atleast 15%?

If so where should I do this- how much does it cost-?

Or should I just keep then in Euros.

I am about to go traveling to S.America for 4months- then Im off to Palma for 3 months (working though) and then onto thailand then doing a year in Australia.

I have money saved for this trip- so I dont really need to exchange the euros urgently- but that said- if I leave it till I get back - the pound may of recovered and i will lose the 15%.

If you suggest that I should put them in a bank- please say which one.

Im confused- please help.

stephb34

You would have got more for your money if you'd changed them just before christmas when the £ was really low at 1 for 1 on buying them, so was about 1.12 to sell. The euro buy back at the moment is hovering about 1.20, havent you got any friends going on hols who'll buy them off you. There must be a link on here telling you who'll give you the best price for them, then i'd look at another link to see who's giving the best interest rate on savings or if you don't really need the money what about premium bonds, i know the average return isnt very high but someone has to win the million.

spiro

Going into any bank or exchange bureau with €10k in cash is likely to cause lots of questions about were it came from how come its in cash etc. As previously suggested look for the best £ to € rate and the best € to £ rate and see if you have any friends or friends of friends who would be happy to buy their holiday euros at a rate half way between the 2. You gain they save which I rate as a win win situation.