Co-Op Travel Feeling Ripped Off

20Legend_2

Hi All,


I went into the Co-op travel on Sat 7th June to convert some Sterling into Euros. I wanted to change £650.00. I advised the lady behind the counter and she asked for ID, which I had forgotten to bring. Not changed money for a couple of years and hadn't remembered the procedure. I advised I'd be in the next day.


Anyway, I went in on the Sunday and got my currency with no receipt other than the Card Payment receipt. Went on holiday and after a discussion with my parents I realised that they had got a much better rate than me. They had received 1.2 which seemed to be the going rate everywhere and I had received 1.1. This meant I was out of pocket to the tune of £50.00.


I guessed that the Co-op had made a mistake as surely their rates weren't that much different to everyone else. When I went into the store after my holiday they advised me that this was their in-store rate and there was nothing they could do about it. At no point did they advise me of this during the transaction and I had been foolish enough not to check the rates prior to going into the store. I just assumed that rates between different places would only differ slightly.


To make matters worse I get stung converting the money back to Sterling, which is to be expected. Although, I do feel that the Co-op's no commission buy back advertisement is a little misleading as they just increase the rate so that it is slightly higher than other places and you just end up getting the same amount back in sterling.


Is there anything I can do or is this just £50 I chalk up to experience. I certainly won't be doing any transactions with the Co-op ever again, in any area of their business! Disgusting!

Wammer

Have a look at the right hand side of the forum page ( you may have to scroll down a little) and find Cheap Travel Money. It will show you the best and the worst rates you can get, currently 124.06 for the best and 111.65 for the worst. You should never have assumed the rate was similar everywhere.

It is up to you to check the rates available and the Co-op have done nothing wrong if you didn't ask the rate before you bought and compared it with the rates elsewhere. It is no different from the difference in prices between supermarkets.

You just need to chalk it up to experience and know better next time.

SaveTheEuro

The pound was trading at above €1.23 when you purchased your euros. An exchange rate on the high street of €1.10 would be very poor indeed.

What is the exchange rate in the same store today? If the deferential is much smaller then you may have been the victim of a mistake, and you could ask them to check their records.