Meanwhile, in the real world....

steve65e

...., while I was queueing in the post office to buy three stamps and save 8p via TSB contactless payment, the lady in front bought 800 euros at E1.13/£. The money shop next door was giving 1.18 and the interbank rate was1.195.

I make that about at least £40 straight down the post office drain. It beggars belief.

wondercollie

What about the handling fees many exchanges charge?

Does the post office charge a handling fee or is it tucked into the exchange rate?

My credit union doesn't charge a fee but my bank charges 10CDN$ to purchase any foreign funds they order in

jackyann

Usually the PO charges no fees.

Whichever you look at first tends to be the way people jump: some say "oh, no fee" but don't check the rate, others look for the best rate and forget the handling fees!

When you work it out, it tends to be quite similar, but often the trick is to check how the handling fees are calculated and work that to your advantage.

Hobsons_Choice

We usually buy our holiday money from the local Money Shop.
The rate advertised is what you get,without any fees. I would always shop around, especially now the euro is much lower than last year.