Conversion to GBP

billyrees

Hi, I have 200 Euros (in notes) that I want to exchange into sterling, either directly with my bank into my account or into cash... What would be the best way to do this so I can get the best deal?

Post Office? Bank?

Thanks

Brie

Might be a exchange at Sainsburys or Tesco if you have the relevant shop card.  But last time I did a change back at Sainsurys I had to have my passport for some stupid reason.  

Personally I think it doesn't much matter because the small difference in rates won't be more than a £ or 2 one way or the other.  Better to think of where you can get things changed that are close to same time and petrol.   It would make a difference if it was a much large amount of euros obviously.

zagfles

You'll get a rubbish rate if you exchange here, most likely best bet would be to find someone going to Euroland on holiday soon and exchange with them at the interbank rate. You're almost certain to know someone who intends to go on holiday in the Euro zone next year. 

eskbanker

https://travelmoney.moneysavingexpert.com/ has a 'buyback' tab that'll give you an indication of available rates....

QrizB

zagfles said:

You'll get a rubbish rate if you exchange here, most likely best bet would be to find someone going to Euroland on holiday soon and exchange with them at the interbank rate. You're almost certain to know someone who intends to go on holiday in the Euro zone next year. 

That would be my no. 1 choice, too. You both benefit; you get more £ for your €, and your friend gets more € for their £.

billyrees

zagfles said:

You'll get a rubbish rate if you exchange here, most likely best bet would be to find someone going to Euroland on holiday soon and exchange with them at the interbank rate. You're almost certain to know someone who intends to go on holiday in the Euro zone next year. 

I've asked a few people and they all seem to take money cards or use other ways of payment insted of carrying cash.

They've just been sitting in a drawer since 2019!

wmb194

billyrees said:

Hi, I have 200 Euros (in notes) that I want to exchange into sterling, either directly with my bank into my account or into cash... What would be the best way to do this so I can get the best deal?

Post Office? Bank?

Thanks

How much trouble do you want to go to? Apparently you can deposit euro notes in a HSBC euro currency account - not sure if this is only offered at full service branches (it has a few different types now). You could then use HSBC's Global Money Account to exchange it into sterling at a decent rate. You'd also need to open a HSBC current account.

https://forums.moneysavingexpert.com/discussion/6555258/uk-bank-account-for-depositing-euro-notes-cash-without-converting-to-gbp

PRAISETHESUN

wmb194 said:

billyrees said:

Hi, I have 200 Euros (in notes) that I want to exchange into sterling, either directly with my bank into my account or into cash... What would be the best way to do this so I can get the best deal?

Post Office? Bank?

Thanks

How much trouble do you want to go to? Apparently you can deposit euro notes in a HSBC euro currency account - not sure if this is only offered at full service branches (it has a few different types now). You could then use HSBC's Global Money Account to exchange it into sterling at a decent rate. You'd also need to open a HSBC current account.

https://forums.moneysavingexpert.com/discussion/6555258/uk-bank-account-for-depositing-euro-notes-cash-without-converting-to-gbp

I was going to say something similar - the absolute best way would be to do something similar to what you describe, but for €200 the benefit will probably be minimal.

Easiest option would be to either hang on to the Euros until your next trip, making a concerted effort to actually spend the cash, or just taking them to a currency shop. You can usually shop around online in advance to lock in the best rates at least: https://travelmoney.moneysavingexpert.com/