Post Office Travel Money Beware

leo56

First of all I went yesterday to the main PO to get Euros for my holiday to be told "sorry we don't have any you'll have to order them as today is Friday we won't have them till Monday.

Checked the PO rate of exchange on the computer and found they were offering 167 euro for £150 which I thought not too bad.

Ordered my Euros from the PO checked my receipt this morning and all they were offering was a rate 1.0778 to the pound.

I have now worked out that if I had ordered my currency online from the PO I would have got an extra £5.00 worth of Euros. So don't be fooled by this "we don't charge commission rubbish, because what they are doing is offering a rate way below the days official currency rate, and that's where they are making their money. Don't get me wrong I'm all for paying for service but this is almost an hours basic pay for a 5 minute job.:mad:
So save yourself some money and order online.

dacouch

How do you think all of the Bureau De Change make money, virtually all of them offer "Commission Free" transactions. They all make their money by selling and buying currency at a rate that allows them a profit

leo56

£5 profit for 5minutes work don't make me laugh

Mr_Lahey

I thought it was common knowledge that by and large the PO is the most expensive out of airport bureaux de change.

leo56

No I didn't realise they were, but as I said I shall now order my own currency myself and save myself the backdoor fee

Incapuppy

Our local PO offers the same rates as online (certainly for US$ anyway)

leo56

I definitely didin't get the online rate for Euros yesterday.

ferf1223

if you went to the PO's website you would have seen...

leo56

You obviously did'nt read my original post, as i said I checked their rates on the computer but well done you go top of the class

Incapuppy

leo56 wrote: »

You obviously did'nt read my original post, as i said I checked their rates on the computer but well done you go top of the class

I don't think that is called for, if you look on the website, this is clearly stated, as ferf has pointed out:

Foreign currency

Buy online for a better rate on foreign currency




http://www.postoffice.co.uk/portal/po/content1?catId=19300207&mediaId=19300210

ferf1223

Incapuppy wrote: »

I don't think that is called for, if you look on the website, this is clearly stated, as ferf has pointed out:

Foreign currency

Buy online for a better rate on foreign currency




http://www.postoffice.co.uk/portal/po/content1?catId=19300207&mediaId=19300210

Exactly. Though I'm quite pleased to be at the top of the class.