Cheaper to change GBP to Euros in the UK or abroad

Johnny_Barnes10

Manchee wrote: »

The OP is going for the weekend, you really think 100 quid a day isn't going to last very long??

It'll be enough, my card will be with me as well just in case

zerog

benjus wrote: »

If you want to do it that way, you could consider opening a Metro Bank account and withdrawing Euros from the any of London's Euro ATMs that actually put the transaction through in Euros rather than converting (e.g. the NatWest one on Bishopsgate) when the GBP/EUR rate hits a rate you like. Although you'd be limited to the card's daily withdrawal limit, which might be a problem.

I don't see the problem with withdrawing pounds from my banks (I have 8 current accounts, so £2400 daily ATM limit if I need it) and then exchanging cash...

Of course, you could also just open a Euro account...

I don't think any banks in the UK allow you to withdraw and deposit euro cash? I have euro accounts in Hong Kong and Singapore which do allow banknote deposits and withdrawals for no fees, but obviously it only makes sense to use this facility if I'm going to those places anyway.

zagfles

zerog wrote: »

I don't see the problem with withdrawing pounds from my banks (I have 8 current accounts, so £2400 daily ATM limit if I need it) and then exchanging cash...

1) It's a two stage process - withdraw the wrong type of cash, then convert to the right type of cash.
2) It's more expensive.
3) You're carrying around large amounts of cash.