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Buying foreign currency

A couple of people have advised buying my currency once I arrive at my destination (Turkey this time at the weekend) as I will get a better exchange rate. I have never seen this advocated on MSE website, so are my friends correct or not?

Comments

  • zagfles
    zagfles Posts: 21,548 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    Yes. You will get a rubbish rate buying currency in the UK.

    Normally it's far cheaper to use an ATM card to get cash out locally than changing cash, not sure about Turkey though, when we went you could get excellent rates for changing GBP.
  • stormbreaker
    stormbreaker Posts: 2,289 Forumite
    Part of the Furniture 1,000 Posts
    We were in Turkey about two weeks ago and at a small grocers store they were giving 270-273 TL to the £, No commision. A much better rate than anywhere else.
  • TakeThis
    TakeThis Posts: 2,909 Forumite
    We were in Turkey about two weeks ago and at a small grocers store they were giving 270-273 TL to the £, No commision. A much better rate than anywhere else.

    The Mastercard rate on the 10th was 2.81. So a decent card would beat that rate.

    Cash Passport Globe would have given you 2.768.
    Metro Bank; 2.81.
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