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Thomson v FairFX = Laughable.
Mr_Wang
Posts: 1,302 Forumite
Called into Thomson today to pick up a bit of ready cash for Egypt, for a taxi etc from airport.
Right now the EGP (LE) is at a high against the GBP of around 10.59, which for those unaware of how it works, means that for every £1 you get £10.59 Egyptian.
I haven't bought currency in years in the UK and so was shocked that the "We have a great rate today sir" of 8.49 was touted.
I only wanted LE£500 which would be £47 if I withdrew it from my FairFX in Egypt.
Yet £59 from Thomson, over such a small amount Thomson was 25% more expensive.
Fair FX has charges, and so I'll probably spend £1000 in Egypt, in Thomson this would get me LE£8590
On the FairFX this would cost £1 ATM fee + 1.4% (£14) so £985 gives me LE£10431 which is LE£1841 difference = £173!!!
Now I have used the Fair FX card all over the world and not once had a problem, but I've got to be honest. I never realised just how much, on relatively small amounts I was actually saving.
Right now the EGP (LE) is at a high against the GBP of around 10.59, which for those unaware of how it works, means that for every £1 you get £10.59 Egyptian.
I haven't bought currency in years in the UK and so was shocked that the "We have a great rate today sir" of 8.49 was touted.
I only wanted LE£500 which would be £47 if I withdrew it from my FairFX in Egypt.
Yet £59 from Thomson, over such a small amount Thomson was 25% more expensive.
Fair FX has charges, and so I'll probably spend £1000 in Egypt, in Thomson this would get me LE£8590
On the FairFX this would cost £1 ATM fee + 1.4% (£14) so £985 gives me LE£10431 which is LE£1841 difference = £173!!!
Now I have used the Fair FX card all over the world and not once had a problem, but I've got to be honest. I never realised just how much, on relatively small amounts I was actually saving.
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Comments
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I bet there was 'no commission' at Thomson too.Does remembering a time that a certain degree of personal responsibility was more or less standard means that I am officially old?0
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Having been to Egypt recently I wouldn't bother with getting Egypt Ponuds.....I'd just make sure I had alot of £5 notes on me2014 Target;
To overpay CC by £1,000.
Overpayment to date : £310
2nd Purse Challenge:
£15.88 saved to date0 -
mountainofdebt wrote: »Having been to Egypt recently I wouldn't bother with getting Egypt Ponuds.....I'd just make sure I had alot of £5 notes on me
Having been to Egypt recently too I can't think of a single place that accepted GBP outside of Sharm El Sheik.0 -
mountainofdebt wrote: »Having been to Egypt recently I wouldn't bother with getting Egypt Ponuds.....I'd just make sure I had alot of £5 notes on me
They take foreign money so they can diddle you in the exchange.
Why would anyone want to use a currency foreign to the country they are in?0 -
Not been to Turkey?KonkyWonky wrote: »They take foreign money so they can diddle you in the exchange.
Why would anyone want to use a currency foreign to the country they are in?0 -
When we go to Hurghada, we change sterling at the bank kiosks in the arrivals hall. We do it whilst buying our visas. You always get a better exchange rate than in the Uk.
I admit we go to all inclusive hotels, so we're not changing big bucks. The main thing I want is small denomination notes for tipping.0
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