Travel Money Maximiser Discussion Area

charlieheard

moob wrote: »

Yes. The majority of exchange places build in their commission charge into the rate, but claim they charge no commission.

I understand the notion of a large bid-offer spread to conceal the lack of commission charges. Some of the spreads are horrendous, with over to 10 cents difference between bid & offer. In the money markets, the spread is a fraction of a percent.

I was curious if the site here generates a virtual FX rate based on cash paid and cash received, so that the rate includes any fees added on. Or does it just report the basic rate as reported by the business?

And no one has yet explained why my cash received was so much better than that predicted.

moob_2

markymoo wrote: »

what is wrong with their claim, they said - no HIDDEN fees, and there are no hidden fees, because they are telling you what fees are. What is your problem?

My problem is this statement "travel cash prepaid Maestro® card is the cheapest and safest way to spend your money abroad."

Which is clearly not correct, given the competition...:rolleyes:

MP1_2

Everyone knows about the Thomas Exchange in London but also knows that there are loads of long queues. I rang around today to check out rates and as well as Change Link, Eurochange who have 2 branches in Victoria have the same (high rates) as Thomas Exhange and Change Link...

Today it was 1.96 .. im qutie upset the rate is falling :mad: i dunno what to do... wait to see if it goes up (i fly out next sunday) or just change it quickly before it continues to fall..

Either way, i'll all the victoria branches to see whose got the best but they generally all do the same high rate... my local bureaus (croydon) dont have as high rates (1.93/1.91 etc) and they can't match london prices.

moob_2

MP1 wrote: »

Everyone knows about the Thomas Exchange in London but also knows that there are loads of long queues. I rang around today to check out rates and as well as Change Link, Eurochange who have 2 branches in Victoria have the same (high rates) as Thomas Exhange and Change Link...

Today it was 1.96 .. im qutie upset the rate is falling :mad: i dunno what to do... wait to see if it goes up (i fly out next sunday) or just change it quickly before it continues to fall..

Either way, i'll all the victoria branches to see whose got the best but they generally all do the same high rate... my local bureaus (croydon) dont have as high rates (1.93/1.91 etc) and they can't match london prices.

Personally, I'd wait it out.

I've been watching the exchange rate daily for the past month or two, and it's gone up and down like a yoyo.

There's a fair chance it will rise again, despite it going down over the past few days, quite sharply.

mancheserluke

Does anyone know if any of the major travel agents are going to be doing there special rate deals they have done in the past
ie
$2 to the £1
If so can you let me know thank you

geoffken

stated earlier if you use your &more card you do not get charged as a cash advance unless you do not pay off in full BUT YOU DO GET YOUR POINTS i.e. a further 1% SAVING :j

moob_2

mancheserluke wrote: »

Does anyone know if any of the major travel agents are going to be doing there special rate deals they have done in the past
ie
$2 to the £1
If so can you let me know thank you

The current market exchange rate is only 1.98 right now, so it could be some way off before that offer comes through again.

catokelly

MarkyMarkD wrote: »

Oh charlotte, please grow up and stop this "charging me for using my own money" tosh.

They are charging you a fee for a service - providing travellers' cheques. They are NOT charging you for "using your own money".

Travellers' cheques cost money to produce and that's why you pay for the service. Almost everyone charges for travellers' cheques.

The fact is that Lloyds do charge you for using your own money, because even if you buy currency from elsewhere, you get charged this fee (so what service are Lloyds providing in this case?).

dzug

catokelly wrote: »

The fact is that Lloyds do charge you for using your own money, because even if you buy currency from elsewhere, you get charged this fee (so what service are Lloyds providing in this case?).

They are providing you with cash (which is effectively what TCs are) from what is regarded as the equivalent of an off-network cash machine.

We are perhaps too used to most cash machines being free no matter what bank you use, otherwise this wouldn't seem so odd.

MP1_2

Hey guys,

Do any of you know whether the rate of exchange is better out the US for US Dollars? I'm flying out next Sunday, the rates over here are falling and i havent really got much time to get all my money changed up before I fly out.

What's it like to change your GB Pounds to US Dollars out in the US? From past experience is the rate better than over here or is it worse?

(I'm going to Miami don't know if that would make a difference)

Otherwise today i might have to try and run down to the bureau(s) in Victoria it's at 1.945 at the mo which isn't too bad....