should we change all our money to Euro's before we leave UK?

lisaab70

Hi, This might sound like a dumb question but I am wondering whether we should exchange all our spending money into Euro's before we leave the UK or if we should use ATM's when we get there??I don't fancy having to carry too much money around with us all the time and would rather just withdraw money each day from the teller machine but I'm not sure if this a good idea either.Can anybody tell me if ATM machines are a good way to go, or would it be better to change all our money into Euro's before we leave?Thanks, Lisa xx

lisaab70

I should've mentioned that we are going to Paris!! lol

Victors_Bruvver

Start here and then go and read the threads on the subject;

http://www.moneysavingexpert.com/travel/cheap-travel-money

lisaab70

thank you xx

lisaab70

I have just rang my bank and they have told me that I will be charged £4.00 each time I make a withdrawal PLUS a percentage of how much I withdraw. WHAT A RIP OFF!!! Looks like I will be changing all my money before I go lol

GlennTheBaker

When are you going to Paris?

Victors_Bruvver

lisaab70 wrote: »

I have just rang my bank and they have told me that I will be charged £4.00 each time I make a withdrawal PLUS a percentage of how much I withdraw. WHAT A RIP OFF!!! Looks like I will be changing all my money before I go lol

Change banks, go to Nationwide. No charges, best exchange rate on the day when making both ATM withdrawals or paying le shopping bills. Remember though, never, never, accept a charge that is converted back into Sterling; always pay in Euros as it is another banking ripoff! Read further in MSE for Dynamic Currency Conversion

GlennTheBaker

Victors_Bruvver wrote: »

Change banks, go to Nationwide. No charges, best exchange rate on the day when making both ATM withdrawals or paying le shopping bills. Remember though, never, never, accept a charge that is converted back into Sterling; always pay in Euros as it is another banking ripoff! Read further in MSE for Dynamic Currency Conversion

Pretty much what I was going to say - providing lisaab70 has time to do it.

LesD

I love these questions (NOT)! We don't know when the travel is, how much is going to be budgeted, what the risk of loss (through theft or accident) is likely to be, what alternatives are available to the traveller, whether 'credit' is an option, etc.

How on earth are we expected to advise seriously?

I suggest we just leave it at Victors Bruvver's advice above.

dzug

lisaab70 wrote: »

I have just rang my bank and they have told me that I will be charged £4.00 each time I make a withdrawal PLUS a percentage of how much I withdraw. WHAT A RIP OFF!!! Looks like I will be changing all my money before I go lol

You still need to work out what that will cost you - taint necessarily any less (though with that £4 charge it probably is).

Changing them before you go WILL involve you in a percentage charge. How much depends where you get them - up to 5%. It will be buried in the exchange rate and you won't be told it's there.

That IS a rip-off - at least your bank has told you.

JoeyEmma

Watch out for bank charges- HSBC charged me £3.70 for a cash withdrawal in Italy.

Also, if ordering from Travelex to pick up at airport, make sure you order your cash at least 2 days in advance to get the cheap rate.

Check out the article somebody here linked to!