First Choice currency exchange rip-off

wetleg1

Please be aware that First Choice automatically apply a £3.50 'buy back guarantee' to any money exchange you make in thier shops. The guarantee will let you take any foreign currency you have not used after your holiday, up to £200, and exchange it back to sterling at the same rate you bought it. THIS IS A LOSE LOSE GUARANTEE :mad: just do the maths.

My first gripe is that not many people (I have never heard of ANYBODY bring back £200 off a holiday) bring large amounts of foreign currency back. Probably 1 or 2%. Second gripe is that the guarantee is automatically added and not offered. Its a complete rip-off. When I went back to get my refund the guy at the desk told me I was an idiot, probaby so, but I was the only idiot that day that never got screwed for €4, where many many other unsusepecting folk in the Uk had been.

Cheers all, please dont get ripped off........

dzug1

wetleg1 wrote: »

Please be aware that First Choice automatically apply a £3.50 'buy back guarantee' to any money exchange you make in thier shops. The guarantee will let you take any foreign currency you have not used after your holiday, up to £200, and exchange it back to sterling at the same rate you bought it. THIS IS A LOSE LOSE GUARANTEE :mad: just do the maths.

My first gripe is that not many people (I have never heard of ANYBODY bring back £200 off a holiday) bring large amounts of foreign currency back. Probably 1 or 2%. Second gripe is that the guarantee is automatically added and not offered. Its a complete rip-off. When I went back to get my refund the guy at the desk told me I was an idiot, probaby so, but I was the only idiot that day that never got screwed for €4, where many many other unsusepecting folk in the Uk had been.

Cheers all, please dont get ripped off........

If you do bring £200 back you save at least £20, so it's not a lose lose guarantee. If you bring £40 (more likely maybe) back you are still in profit.

But agree it should be offered and not automatic

sturll

Thomas Cook tried this on with me some time back. I did the exchange in my head and realised it was slightly out. When i queried this she told me about something similar to what you say. I said i don't want it and she was very persistent. When i said forget it suddenly it was removed.

wetleg1

dzug1 wrote: »

If you do bring £200 back you save at least £20, so it's not a lose lose guarantee. If you bring £40 (more likely maybe) back you are still in profit.

But agree it should be offered and not automatic

but DZUG1 you dont 'save' anything... you just get back what you paid....less the £3.50.... no saving there with my calculations... this fiddling lot should go into politics. And if you (not you personally) DO bring back £200 then you must be one miserable old goat to go away with hehehe.... spend the lot and enjoy the sun...

Incapuppy

wetleg1 wrote: »

but DZUG1 you dont 'save' anything... you just get back what you paid....less the £3.50.... no saving there with my calculations... this fiddling lot should go into politics. .

I take it you don't know anything about the difference in the selling and buying rates of foreign currency then?

waynehayes

I just bought €240 back from Menorca, and last year bought €400 back from Majorca. I'm not tight at all, in fact the opposite when it comes to holidays - it's the one time of year to splash out. Maybe I just over-budget. I have no intentions of exchanging it back though, I'll just save it till next time.

wetleg1

Incapuppy wrote: »

I take it you don't know anything about the difference in the selling and buying rates of foreign currency then?

course I do Inca. I'll let you into my secret. Shop about to find the highest buy rate in town. Get euros etc. Watch out you dont get charged a hidden extra like a 'buy back guarantee' (not unless you require one) as this immediatly affects your rate and lowers it.

Go on holiday....enjoy

Heres the clever bit. When you get back, if you have a small amount of change, lob it in the charity bin at the airport in the UK. If you have a larger amount, say £30's worth, keep it for your next holiday or pass it on to family as a present for when they go away. NEVER EVER change it back as you will lose money. If you do change an amount like £30 back you will probably lose £1.50 or so. Mind you, you could use your £3.50 'buy back guarantee' to get the same rate you bought at, thus saving the £1.50. I think. If you have brought a large amount back, £200 etc, just keep it till next time, rates are on the up at the moment and Euros are accepted in most European countries these days....!!

At the end of the day, First Choice are unwittingly charging EVERY customer £3.50 for a guarantee they are unlikely to use, and as this is a money saving site, I just think people should ought to know about this charge, and that they should have the OPTION wether to buy the guarantee or not.

The chopsy bloke in First Choice told me, as he handed back my refund, that I didnt know what I was talking about, maybe not, but I was the only idiot that day that got the true best rate in town. Off on holiday now and I dont intend to bring 1 cent back

Bonjour

Donnie

For making me smile

sturll

Donnie wrote: »

For making me smile

I recon i could make you smile

Donnie

sturll wrote: »

I recon i could make you smile

I have no idea.....

DickyP_2

sturll wrote: »

I recon i could make you smile

Not the elephant trick again, when are you going to learn its not big and its not going to eat the bun!!