How to buy travellers cheques or foreign currency

Can anyone advise where best to buy £1000 worth of Euros (in cash)?

I was told that the Post Office is the cheapest as they charge 0% commission, however they're not very transparent on the buy/sell spread -- which is probably where they make their profit -- so it's difficult to compare them with high-street banks, bureaux de change and travel agents.

Thank

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Replies

  • PalPal Forumite
    2.1K Posts
    Why not go round a few places on the high street and ask them all for quotes for how many Euros you will get for your money.
  • Gaz_2-2Gaz_2-2 Forumite
    85 Posts
    I'm also looking to buy euros soon.
    I've been told that Marks and Spencer are very good for buying euros but don't know for definate
  • Murphy_The_CatMurphy_The_Cat Forumite
    20.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    I know that https://www.travelex.co.uk have a comission free deal on at the moment, but they will be unkeen to exchange for £1000 in cash as they worry about money laundering. However thaty would have no problem doing it via a Switch card, or as several lower value transactions as long as you had ID

    MTC
    ::)

    p.s they are offering 1.3584 euros to the Great British Pound at the moment
  • Paul_Riley_2Paul_Riley_2 Forumite
    14 Posts
    Part of the Furniture 10 Posts
    Forumite
    I know that https://www.travelex.co.uk have a comission free deal on at the moment,
    p.s they are offering 1.3584 euros to the Great British Pound at the moment

    My searches found travelex to be one of the better ones.  You'd have to pick it up from one of their outlets (located at major airports / ferry ports).

    Alternatively, a very similar rate can be found with International Currency Exchange, they even offer Royal Mail 1st class Special Delivery to your home address.  Their web site can be accessed through the 'travel money' section of webmoney.com

    For comparison purposes, I got my Euros from ICE last week at 1.383 when Post Office were offering 1.366

    One word of warning for exchanging online...I ended up with 4 x 200Euro notes, each equivalent to £145 :o
  • zebedyzebedy Forumite
    425 Posts
    M&S are doing commission free Euros at the mo but i don't know how their exchange rate compares with banks etc.
    I guess you have to shop around to get the best deal
    MS Stalwart. Used site for >10 years :j

    Make Do, Mend and Minimise member - focussing on upcycling/repurposing and sewing
  • alaredalared Forumite
    4K Posts
    Shop around is the best advice and don`t forget the rate changes daily.No matter when I buy mine the rate always gets better afterwards!
    I have noticed that you nearly always get a better rate abroad
  • Gaz_2-2Gaz_2-2 Forumite
    85 Posts
    Marks and Spencer are the cheapest at the moment and they are commission free.
    I watched a program on the other day about the cheapest place to buy euros and M&S were top and the post office second
  • GalstonianGalstonian Forumite
    1.3K Posts
    Don't forget to find out how much it costs to just withdraw the cash from an ATM while in Euroland.
  • COSCOS Forumite
    550 Posts
    Part of the Furniture Photogenic Combo Breaker
    My colleague at work wants to know if its better to change her Euros in France or in England,as she is'nt going until September its alittle early to advise.

    Any suggestions would be welcome. :)
    Rememember. Everyone seems normal until you get to know them.
    Never pass up an opportunity to go to the bathroom.
    If you woke up breathing, congratulations! You get another chance. And finally, be really nice to your family and friends; you never know
    when, You might need them to empty your bedpan.
  • interested_2interested_2 Forumite
    8 Posts
    Part of the Furniture Combo Breaker
    Forumite
    Could someone let me know why it is that you can go to three outlets offering commision free and get three different qoutes I was offered 78p a euro and 73p a euro which is a difference of 70euros on £800 And the only explaination i got from the teller was that rates come in daliy and she has to charge what she is told from head office. Well surely there is some kind of charge then, if the rates can be so different.
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