Anybody used one of these?

[Deleted User]

I've got some US dollars in coins I'd like to get rid of.
Just heard of this company mentioned in an article here:

http://www.thisismoney.co.uk/money/holidays/article-3107546/Kiosk-turns-unwanted-currency-pounds-launches-tube-stations-August-accept-pesetas-schillings.html#newcomment

I was wondering if anybody actually used of these machines in London.

Thanx. :cool::)

antenna

The exchange rates are not published yet,well..not on their website.

benjus

Doesn't look like they exist yet (says "First kiosk launching in King's Cross 26th October") so I guess no-one has used one yet.

The fact that they accept pre-Euro currencies might be useful for some people who otherwise would never bother changing bits of old holiday money they might still ahve kicking around.

For current currencies they will be up against all the cheap exchange houses in London so I can't see many people using them unless the rates are very good. But then people still use Canary Wharf Post Office to change money when they could get a far better rate just across the road, so who knows?

[Deleted User]

Here a photo of one of these machines:




I've got in excess of USD 1000 in quarters and dimes. Bloody heavy they are too! Even getting a poor rate, I should still get around £400 or so, if these things ever take off.

I could always go to Heathrow to change the coins into $1 and $5 notes to people travelling to the US, but I'd probably get kicked out of the airport by security.:p

Any other ideas how to exchange them? :cool::)

benjus

Rates are online now: http://www.fourex.co.uk/exchange_calculator

They don't look too bad - about a 7% cut for exchanging USD notes to GBP for example, which is probably better than the Post Office.

But then at the moment they are only available in London, where there are plenty of places that will exchange USD notes at a much better rate.

So while they look useful for exchanging coins or defunct currencies, I wouldn't use them for everyday currency exchange.

adl999

I used the Fourex machine at Blackfriars last week to change a jar full of foreign coins and a few small denomination notes which I had collected over several years, but were too small for the normal Bureau de Change to exchange. The machine was in use when I arrived, so I waited about 10 minutes for the previous person to finish processing their (numerous) bags full of coins and notes.

There was a helpful man from Fourex on hand to assist, but operating the machine was quite straightforward. It took about 15 minutes to process my collection and I came away with £70 in GBP notes and a few coins!! The machine rejected a number of coins, but refeeding them reduced the number to a small handful, which I was advised to clean up and try again next time. It even takes out of circulation and pre-Euro currency! The machine shows the running total on the screen as you use it and gives a receipt at the end. Try and remove any stray current UK coins before sorting them though, or you'll get slightly less back than face value!

I think the machines are fun to use and was happy to turn a load of old foreign currency into some spendable cash!! I was quite surprised just how much I converted back to GBP that would have been left in a drawer otherwise!

[Deleted User]

Thanks for the first-hand report.






I've noted conflicting replies to question 13 and 34 in the FAQ section.


http://www.fourex.co.uk/faqs

AussieMP

Hi there
I recently used the Fourex machines to exchange my bag of foreign coins and old notes from my travels and happily walked away with £239. The machine was really easy to use and the rates were good and I didn't even have to sort the coins before tipping them in. Brilliant service and highly recommended.

Chickadee_83

I used the one in Blackfriars as I travel a lot and thought the mixed jar gathering dust in my sitting room was destined to be ornamental forever!

The lovely fourex lady who was there to help (great idea but I didn't need her as was so easy to use) told me they are opening more kiosks soon so I guess they will be popping up all over! I just put in what I was exchanging (coins or notes, I did both) and popped them into the machine. I was pleasantly surprised that i got £55 back! Its a new lease of life for holiday change

Speaking of which I noticed you could pick what you got out, so I'll probably use it again for changing up lose change into Euros for holiday come summer!

Its a really clever idea so I have no doubt we'll be seeing more of them soon! :T