Accurate Euro Conversion Rate Sites?

T8RSP

Hi all,

Me again.

I was wondering if anyone knew of a more accurate site than the likes of xe.com for conversion rates to try and have a better idea of how much something would cost in GBP when it's displayed in Euros.

I will go back in my box if xe.com is as accurate as you get but with my limited knowledge I was under the impression that those rates displayed were more for the stock exchange rates or bank rates, not for the general consumer.

Thanks in advance.

skid112

XE displays are very close to interbank FX rates. I think if you are trying to compare like for like on cost you would need an accurate idea of what your bank/credit card company would offer as an exchange rate. Even the cards mentioned on here regularly would differ as they would apply the closing rate on the day you purchase. Unless you are talking tens of thousands then XE would only differ by a few euros, for example, £1000 is currently about €1380, if the rate move to 1.40 that would be €1400.

benjus

If you want live FX market rates you'd need to get access to Reuters or Bloomberg or something like that.

However, it's still not going to help very much, as if you buy something by card the rate you get will be based on the Visa or Mastercard rate at the time the transaction is processed, which may be a day or two after the actual purchase. So xe.com or Google is as good as any other way of getting an idea, but there's no way to know exactly.

You could always use DCC - you'll get ripped off, but at least you'll know exactly how much you paid... (which reminds me - I think I discovered the only case for using DCC - my wife travels for business sometimes, but has to put expenses on her own card and claim them back. They are paid back in the currency of the purchase, converted to GBP at the rate at the time of claiming, so could end up being less than what was actually paid. Using DCC means that she gets refunded the exact amount she paid.)

zagfles

If you use a Halifax Clarity or other fee free Mastercard you can look up rates here:
https://www.mastercard.com/global/currencyconversion/index.html

For VISA cards: www.visaeurope.com/making-payments/exchange-rates

The VISA one allows you to add a markup if your bank charges a markup, with Mastercard you'll have to work it out yourself. But you can get fee free VISA cards and Mastercards.

They change daily and the rate you get might be the next day's rate (or even a few days later if they're slow putting the transaction through) so the rate you look up before you make a purchase/cash withdrawal might not be the exact rate you get, but it's unlikely to change much in a day or so. And of course it's just as likely to move in your favour as against.

InsideInsurance

Some card issuers also have their own FX tool, certainly AmEx does but as others have said, this can only be used as a guide as the transaction may be delayed by a few days and obv the exchange rate moves