Question of the Week: When should I buy my foreign currency?

ashlyn123

Drusillamac wrote: »

Hello all,

I have some questions. This is the first time I've got abroad in four years so apologies for being a bit slow.

I go away on holiday next Thursday to sunny Spain and lots of things have slipped my mind, including arranging my holiday money. I tried to apply for Travelex card online but it didn't like my Visa debit card. Due to this they were unable to process my order online. However the alternative to pick up my card at the airport was offered. Hence the questions:

1) Has anyone got good/bad experiences of picking these cards up at the airport? Obviously I don't want to get there and be declined a card and be left with changing my money at the airport.

[STRIKE]2) How much notice did I need to give when ordering the card online? [/STRIKE]Strike this question off. Had a nosey in another forum and apparently you only need to give them four hours notice. Huzzah!

3) Do I order my currency in pounds or euros? I assumed it works on a similar way to using my existing debit card.

4) I'm going to Alicante. Does anyone have any feedback about how easy it was to use the card there?

Many thanks for helping out a scatty traveller!

Hi

I was finding your answers and came across this. Which is your resident country?
As different countries banks provide different services for their customers, it would be great if you specify that.

I will definitely try to help you with the details.

dzug1

Drusillamac wrote: »

Hello all,

I have some questions. This is the first time I've got abroad in four years so apologies for being a bit slow.

I go away on holiday next Thursday to sunny Spain and lots of things have slipped my mind, including arranging my holiday money. I tried to apply for Travelex card online but it didn't like my Visa debit card. Due to this they were unable to process my order online. However the alternative to pick up my card at the airport was offered. Hence the questions:

1) Has anyone got good/bad experiences of picking these cards up at the airport? Obviously I don't want to get there and be declined a card and be left with changing my money at the airport.

[STRIKE]2) How much notice did I need to give when ordering the card online? [/STRIKE]Strike this question off. Had a nosey in another forum and apparently you only need to give them four hours notice. Huzzah!

3) Do I order my currency in pounds or euros? I assumed it works on a similar way to using my existing debit card.

4) I'm going to Alicante. Does anyone have any feedback about how easy it was to use the card there?

Many thanks for helping out a scatty traveller!

If you want to pick up at the airport you need to pay in advance with your card (and beware many visa cards charge). If you don't pay in advance you'll get it at airport rates, same as cash

Why not use your existing debit card? It will be better than airport rates to be sure

Drusillamac

dzug1 wrote: »

If you want to pick up at the airport you need to pay in advance with your card (and beware many visa cards charge). If you don't pay in advance you'll get it at airport rates, same as cash

Why not use your existing debit card? It will be better than airport rates to be sure

Do you mean use my existing debit card to withdraw from a cash machine when I'm in Spain? I have a BoS/Halifax debit card and my account is still a Student account. I assumed that the charges for using my debit card would be horrendous. That's something I need to check up on, thanks for that. Also I assumed that they would honour the exchange I was given on the website because they rejected my card. I would probably take the cash with me to the airport to pay for the card.

It's the security that attracted me to the pre-pay card. I feel a bit uncomfortable carrying a couple hundred euros in my back pocket (or leaving it lying around where we're staying).

amans54

Hi,
Generally most of the larger banks are having the currency exchange facility in each country.You can search out stores for collectibles also.

jamie85_2

I always make sure i get my currency before i go away all of it and make sure i take extra money just in case of an emergency. Before i buy the currency i wait a couple of weeks to see who has the best conversion rates on the highstreet as currency does fluctuate but when i see a good deal i grab it.

kissingsky

Hi,

I have been changing currencies many times so got few tips for you guys.

(1) Plan ahead How much you need and when exactly you need.As currencies have a tendency to go up and down (specially in these uncertain period) so if you got a month to change the currency then you need to check the rates regularly. I usually check Xe.com and
Hi fx uk.
(2) When you see the rate that is better for you then have a check few money exchages to have the best rates.This is my experience usually we tend to contact Post office, Marks and Spencer or Banks but guys believe me they rip you off.So I would suggest you to contact some local currency exchanges say on Edgware road or Paddington or even in East London.There is Thomas Money Exchange in Victoria,another Rak Money exchange in East Ham London,another one Ace Fx on London bridge.So check the rate

(3)When you got the rates from different companies do have a comparison then turn to the company that is offering the best rate.If you are exhanging lot of money then you have the chance to have the better rate.

Hope you will save the money

kissingsky

Well it is time to sell Euros and Dollars if you have any as the rate is superb for selling.As on Hi fx the Euro rate is 1.1347(selling rate might be 1.15) and Dollar rate is 1.6133(selling rate might be 1.63).So if you have got some currency you can save lot of money.

kissingsky

Hi Guys,

If you have Dollars it is the best time for selling in the Market.The international dollar rate is 1.5780 so you can sell dollars at 1.590 but it is not sure a good time for buying dollars and if you want to buy just wait for couple of days.

kissingsky

Hi,

Guys again the best time to sell the dollars and also Euros if you have any. Specially dollars are worthy to sell as you can get the best rates.Now a days dollars market price is 1.56(21st of September 2011 15:49 pm) so you can sell at 1.57.
Euros is also in good condition to sell as it is now 1.14(21st of September 2011 15:49 pm)so you can sell easily at 1.16.

kissingsky

Hi,

Now dollar is in the most charming position and I strongly recommend to sell it at this time though there are chances that it will get slightly more strength but still this is the good time to sell the dollar.You can easily sell it at 1.56 today(22 sep 2011 at 11:38 am).