Exchange Rate

starry

Hi Folks, We are going to Tenerife at the end of September and wondered if it would be better to exchange all our money to Euros here or just a couple of hundred and take English with us and change to Euros their as we go. Could anyone help on what they think would be the best idea to go with. Many thanks in advance. Starry.

CountryGoose

If we knew what the Euro/GBP rate was going to be at the end of the month, we would become rich through currency trading.

It all boils down to risk (of theft) vs best rate and convenience.

The cheapest and safest was is to use a good value card to draw the cash as and when you need it while you're there - spending as much as you can on a credit card that you repay in full on your return.

For convenience - or if you're in an out of the way place with a single ATM connected to the bank with a bit of damp string, you may want to take the whole lot as cash from a best buy exchange place, if there's one close to you. NB - travel fees may each into any collection savings. You may be covered by your travel insurance for currency thefts.

starry

Thank you Travel Goose. I don't have any cards so will just prob go with cash.

whatusername

starry wrote: »

Thank you Travel Goose. I don't have any cards so will just prob go with cash.

Remember your travel insurance will generally only cover up to £500 worth iof cash therefor if no cards consider travellers cheques.

I would also say you are better converting to Euros here than taking sterling there.

redmalc

Starry look at Ice currency exchanges web site very good company who i have used on numerous occasions the money is normally delivered the following day by recorded delivery.I purchased my euros three weeks ago and got 1.205 at the moment there has been a dip but keep an eye on it,my son is currently in PDLA and got 1.186 yesterday

starry

Thank you redmalc and whatusername. I think i will have a look at the website you suggested and try that. Once again, thank you both for being so helpful. :T:T

SallySunshine

Try Crown Currency Exchange

You can buy forward as I did a couple of weeks ago, got a brilliant rate of 122.39, free recorded delivery over £300 and you choose the date you want it delivered, in the period when you bought it.

O.k., you do take a slight risk as you don't know what the exchange rate is going to do, but it worked out fine for me this time.