Best exchange rate on Euros

NeillB

Hi
My parents are going to Spain for three months. I want to give them Euros as part of their Christmas present. I have an account with the Halifax and was thinking of using them which I've never done in the past. Has anyone used them before? I live in a city so have plenty of options open to me just not much time as my parents are leaving in a few weeks. Any help is much appreciated.

Caz3121

http://travelmoney.moneysavingexpert.com/?_ga=1.255234187.2098061591.1442126683

firefox1956

Used this company many many times.
Easy to use & the best exchange rates.
https://transferwise.com/
HTH

eDicky

Halifax and other banks usually give the worst rates available. Your parents should arrange suitable cards for travel, as in the MSE advice. Give them pounds. TransferWise are not relevant.

AlexMac

Agree the advice to get the best cards,give em GBPounds and let withdraw as they go from ATMs.

But if you really want them to walk around with a 3 month wad in a hip pocket, do as I do in the few weeks prior to put frequent cheap trips to Spain.

Follow the links above and track the exchange rate with the best provider in the "travelmoneymax" tool, then swoop when the timing is right. I maintain a geeky spreadsheet and found that on my typical €500 trade there was a 20 quid benefit over the fluctuations of the past four weeks alone by delaying until the last minute on the dosh I changed for the grandaughters trip to France last weekend.

And because I live on London and have the time to pert about and pre order online that was probably another 15 to 20 quid better than high street banks' walk up rate. But most people would tell me to get a life!

Anthorn

NeillB wrote: »

Hi
My parents are going to Spain for three months. I want to give them Euros as part of their Christmas present. I have an account with the Halifax and was thinking of using them which I've never done in the past. Has anyone used them before? I live in a city so have plenty of options open to me just not much time as my parents are leaving in a few weeks. Any help is much appreciated.

I wouldn't like to be the one who searches all available options to find the best rate in order to find the best deal to reply to this post. Depends on whether you think Euros or pounds will have the edge of more value. If you give pounds your parents have the added expense of converting to Euros so only Euros will be free of future fees after you give providing they have a means of storing Euros. If not, as previously mentioned in other replies look at prepaid travel cards.

+1 for Transferwise which I have used on several occasions and found them to often provide the best deal.

Lastly note that your money in Halifax is protected by FSCS but transferwise and/or prepaid travel cards are not. But it depends more on where the money is going.

eDicky

How is TransferWise going to be any use to the OP and parents, unless they are going to open a Spanish bank account?

Anthorn

eDicky wrote: »

How is TransferWise going to be any use to the OP and parents, unless they are going to open a Spanish bank account?

Oh Emm Gee eDicky, you have developed the power of foresight. You know what the parents have without even being told about it. Wow!

eDicky

Anthorn wrote: »

Oh Emm Gee eDicky, you have developed the power of foresight. You know what the parents have without even being told about it. Wow!

You seem to be the one assuming the Spanish bank account, by recommending TransferWise, which does not provide cash or cards. Hence my question to you and Firefox.

Anthorn

eDicky wrote: »

You seem to be the one assuming the Spanish bank account, by recommending TransferWise, which does not provide cash or cards. Hence my question to you and Firefox.

Why does it have to be a Spanish bank account? It could be any Euro account in any country in the Eurozone, in fact more accurately for this purpose within the SEPA area. But with Transferwise money could be sent to an email address or to another Transferwise customer.

However the OP does imply that the parents can handle Euros.