Post Office 'In Branch' Rates Rip Off

PolishBigSpender

tom0407 wrote: »

Ok well that makes me feel a little less robbed then. I just felt like I had been given a bad deal, and that I'm annoyed that I didn't know that they had a 2 tier rate system.

They don't have a 2 tier rate system. The fact that the interbank rate doesn't reflect the rate you got is down to what you've been told - that they have to make a profit somewhere.

What would be 'fair' about the Post Office subsidising travellers by giving the interbank rate?

But yes, the old 'IT'S A SCAM' rule applies here.

tom0407

No but I think they do have 2 rates that's the point! They have an online rate and an in branch rate. That's the whole point I'm trying to make! If you order you currency online in advance you benefit from a more competitive rate. At least that is what the girl on the phone at the Post Office told me when I called them.

PolishBigSpender

tom0407 wrote: »

No but I think they do have 2 rates that's the point! They have an online rate and an in branch rate. That's the whole point I'm trying to make! If you order you currency online in advance you benefit from a more competitive rate. At least that is what the girl on the phone at the Post Office told me when I called them.

Nothing wrong with that - Travelex do great deals for ordering online/picking up at the airport, but buying at the airport is incredibly uncompetitive.

I searched for "post office online currency". I found this - http://www.postoffice.co.uk/portal/po/jump1?mediaId=19300210&catId=19300207

What do I see? You've got no-one to blame but yourself.

2Online rates may differ to branch rates

tom0407

Will people stop saying that, it's really not helping me feel any better! You lot don't give an inch do you... And I thought I'd get some sympathy here lol!

Well I'm off for the day now, at least it's the weekend!

tom0407

Ps. Hindsight is a wonderful thing. You're just a load of post office workers I reckon

photome

I still fail to see how this is a "rip off".

As in all competitive markets, charges/prices vary and if you were to go in to the PO next week you may find their rate is the best on the high street.

As I have said, I never buy currency as I prefer the better exchange rate offered by the PO credit card or the Nationwide debit card.

For those on the lookout for currency, as much as I hate saying it..Tescos have been one of the best on the high street recently

PolishBigSpender

tom0407 wrote: »

Will people stop saying that, it's really not helping me feel any better! You lot don't give an inch do you... And I thought I'd get some sympathy here lol!

Why would anyone be sympathetic towards someone that can read and yet missed the blindingly obvious disclaimer?

LesD

http://travelmoney.moneysavingexpert.com/

phatbear

PolishBigSpender wrote: »

Why would anyone be sympathetic towards someone that can read and yet missed the blindingly obvious disclaimer?

This from a person who only reads what they want on websites.

Regarding the different prices online this is standard practice with a lot of companies these days, pc world/hmv etc etc

stephb34

For those on the lookout for currency, as much as I hate saying it..Tescos have been one of the best on the high street recently[/QUOTE]
Ours wasnt thursday tesco 1.074, coop travel 1.08, ilkeston coop 1.085 and thomas cook 1.09 but its probably different in different areas this was in derbyshire.