Cheapest and best place to get foreign currency???

Horasio

Where is the best place to get Euros or other currency that won't rip me off?

alared

https://www.travelex.co.uk

Buy it online with a debit card and pick it up at the airport when you go.
Can`t be beaten.
Todays rate 1.4222 as against the post office of 1.3955

cheekymole

or even better, get a nationwide flexaccount and take it out via the cashpoint when you're there - always get a better exch rate and no commission either

Horasio

Is taking from atm whilst abroad a good thing - I know about the 1.5% commission

cheekymole

If you have a nationwide flexaccount, there is NO charge and a better rate

magentadreamer

Nationwide do not charge a loading fee nor charge you for using the card abroad. What you might find is that the bank who owns the cashpoint might charge you. I'm going to the States in May and will be taking a mixture of Nationwide Cash Card and some cash/ Check out rates for Travelex.co.uk M&S were pretty good on the dollar front so might be good for Euro's as well.

cheekymole

I've never had any bank charge me for using my flexaccount card abroad. We have used it in Malta, France, Belgiun, Holland, Spain, Canaries, Crete and others with no probs at all

bestyman

Just returned from Spain this week. Current rate with Nationwide card is 1.455 at ATM.

One ATM out there did try charge us but others were free.

Purchases got a rate of 1.463, but this may be due to using the card on a different day.

alared

Lets get this Nationwide card into context.
I`m not knocking it but what you have to ask yourself is if it`s worth all the hassle of opening and funding a current account with them just to get a card just to to draw some money at a SLIGHTLY better rate.
All banks and building socs use the forex rate for that day,most deduct 2.75% off.
I paid a bill last week for €138.80 this worked out on the day as £97-72,if I had used a Nationwide card it would have been £94.85
A massive saving of £2-87.
If you buy travelers cheques there is a 2% charge and most banks charge a percentage to change currency.
All I`m saying is it worth the hassle of having yet another current account to get their magic card, (which you still don`t know the exchange rate of that day,`til you get your next statement).

The charge has to come from somewhere and I would guess it`s made up by their poor savings rates.
That`s mutuality for you.

photome

alared wrote:

Lets get this Nationwide card into context.
I`m not knocking it but what you have to ask yourself is if it`s worth all the hassle of opening and funding a current account with them just to get a card just to to draw some money at a SLIGHTLY better rate.
All banks and building socs use the forex rate for that day,most deduct 2.75% off.
I paid a bill last week for €138.80 this worked out on the day as £97-72,if I had used a Nationwide card it would have been £94.85
A massive saving of £2-87.
If you buy travelers cheques there is a 2% charge and most banks charge a percentage to change currency.
All I`m saying is it worth the hassle of having yet another current account to get their magic card, (which you still don`t know the exchange rate of that day,`til you get your next statement).

The charge has to come from somewhere and I would guess it`s made up by their poor savings rates.
That`s mutuality for you.

I havent got a nationwide account, but i am going to open one before i go to the states next month. On your calculations of the SLIGHTLY better rate you saved £2.87 on close to a £100 spend.( round that up to £3)

So by your calculations if I spend £2000 while in the states i am going to be about £60 better off. As this site is all about moneysaving then surely the answer is YES it is worth ALL THE HASSLE of opening an extra acoount

hammy_the_hammer

we are in the process of changing my wifes dud current account to the nationwide purely for the travelling aspect. multiple trips abroad so will save quite a bit in bank charges and don't have to think about taking much cash with us . of course these will be year on year savings
nb also now have their credit card for same reasons ...travel