Best place to turn Euros back to GBP?

adindas

beanybot wrote: »

Found post office buying rate. they will give £150 for my 200 Euros.
Compared to the interbank rate which would be £172

So thats a loss of £22. Pretty damn poor.

I understand this is an MSE but I remind you this is what you wrote.

beanybot wrote: »

I looked at the MSE buy back thing but it only comes up with like 5 places, none of them anywhere near me.
Don't have any friends that have need for euros. They all have starling type cards.

You do not even mention where you live.

If you are not living in London, you are not willing to travel, you don't have any friend who are willing to exchange, you do not want to keep that EUR 200 for future use than your options are very limited. One the the very limited option (and might be the best option) is the local post office.

sillyhilly

beanybot wrote: »

Found post office buying rate. they will give £150 for my 200 Euros.
Compared to the interbank rate which would be £172

So thats a loss of £22. Pretty damn poor.

It frustrates me when people compare to the interbank rate. That is the rate that banks get when they exchange billions of £ worth at once.... Not €200. It's misleading and not indicative of what you're getting.

When you sell back currency, that's where bureaus have their mark-up. Some rates:

Eurochange - 1.2363 = £161.77
Tesco - 1.2120 = £165.02
Post Office - 1.2124 = £164.96

The difference is, therefore, absolutely minimal. Not even £5, never mind £10.

You can get better rates by posting the money... but even then you're looking at a rate like 1.17 it;s £170.94 which I personally wouldn't do for £5.

You made a boo boo. Suck it up unfortunately.

Migster

Are there any pawn shops or cheque cashing places near you? Quite a lot of these now buy/sell currency and often have very competitive rates.

Davy_Jones_II

You’ll never again in your life need cash in Europe?

Rates are negative there, so you are gaining by keeping it in cash.

I keep all my foreign currency, never changing it back, so why not do the same?

IvanDP

Davy_Jones_II wrote: »

You’ll never again in your life need cash in Europe?

Rates are negative there, so you are gaining by keeping it in cash.

I keep all my foreign currency, never changing it back, so why not do the same?

We do exactly the same
Although we rely heavily on card payments when abroad, it's always nice to have a bit of cash, especially when you first arrive or for the odd small purchase.

:beer::beer:

parchedpeas

For €200, just keep it and wait till next time you go to Europe.

Abbey1991

beanybot wrote: »

Not going back soon, and if i do, unlikely to need cash. Same with my friends, none use or carry cash. It's about 200 Euros. I meant to take out 20 LOL.

It's worth telling your friends that in places like Germany and Austria, cash is king, you shouldn't rely on being able to use Starling card in small shops. Even in Netherlands, until recently you couldn't use international debit/credit cards to buy train tickets.