Tesco Bank or not Tesco bank

crlee99

I had a really bizarre experience today when wanting to buy some euros. I went online and saw that Tesco Bank were advertising a rate of 1.146, which could be either delivered of click and collect at my local store.
As our local store had a 'Tesco Bank' counter in store I thought I would pop down and collect them. When I got there, the rate was showing as 1.11 (odd even though it was only about 20 minutes after seeing it online). The only explanation I received when I queried the difference was 'We are totally separate'.
I know it is only a small difference, but the stupid part about it was that I could have ordered it online AND collect it from the same store at the better rate!!.
A phone call to Tesco was also equally unhelpful. Moral is NOT to buy in store but purchase online.
I wonder how many people are aware that Tesco Bank Online and Tesco Bank in store are not the same organisation, or is it that I am just going mad!!!

Colin
:mad::mad:

heatherw_01

Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email forumteam@moneysavingexpert.com.

Caz3121

many places have different online rates and in-store rates
Thomas Cook do the same...there is a rate online that you can order and collect in store and then there is the poorer in-store rate (if you don't order online)
worth reading this article
https://travelmoney.moneysavingexpert.com/holiday-money/
note re Tesco (and Sainsbury's and Post Office) it says -
Important! You'll get a worse rate if you do not order online or by phone beforehand.

jackieblack

Caz3121 wrote: »

Important! You'll get a worse rate if you do not order online or by phone beforehand.

I’m pretty sure it also says something similar on Tesco Travel Money web page...

Yep, bottom of the right hand column on the first screen - “Exchange rates may vary during the day and will vary whether buying in store, online or via phone.”
https://www.tescobank.com/travel-money/

eDicky

Right now the pound is worth 1.16€ at the mid-market rate, which is more or less what you will get by using a fee-free 'travel' card (today). Why undergo the extra hassle and cost exchanging cash..?

TheShape

Caz3121 wrote: »

many places have different online rates and in-store rates
Thomas Cook do the same...there is a rate online that you can order and collect in store and then there is the poorer in-store rate (if you don't order online)
worth reading this article
https://travelmoney.moneysavingexpert.com/holiday-money/
note re Tesco (and Sainsbury's and Post Office) it says -
Important! You'll get a worse rate if you do not order online or by phone beforehand.

Previously when I've purchased currency instore at Sainsbury's I've asked if they'll match the online rate and they've always obliged. I now routinely just withsraw cash abroad with a fee-free card or use a fee-free credit card for purchases.