ATM exchange rate wrong way round?!

Theroux_Moo

Luton Airport Departures ATM. Surely they’ve got this the wrong way round. 100 Euro should cost £80-90, not £124.93. I’ve heard of crap exchange rates and charges but this takes the biscuit! The ATM is run by The Change Group, which on their website is quoting €100 for £89.04. Is this human error inputting today’s exchange rate?

Mark_d

Why would you even attempt to use such a machine?  Either they charge you to make the withdrawal or they give you a horrendous exchange rate.

I withdraw Euros from a bank's ATM when I arrive at the destination, using my Kroo bank card (no foreign fees).

MyRealNameToo

Theroux_Moo said:

Luton Airport Departures ATM. Surely they’ve got this the wrong way round. 100 Euro should cost £80-90, not £124.93. I’ve heard of crap exchange rates and charges but this takes the biscuit! The ATM is run by The Change Group, which on their website is quoting €100 for £89.04. Is this human error inputting today’s exchange rate?

FX at the airport is the absolute worst rate you can get and should be avoided unless an absolute emergency. 

Far better to get to your EU destination and find the first regular ATM and just withdraw EU there and decline the auto conversion which will also be at a biased rate though not as bad as in airports. 

Theroux_Moo

That’s not my question. Have they got the rate the wrong round. Human error? 

MyRealNameToo

Theroux_Moo said:

That’s not my question. Have they got the rate the wrong round. Human error? 

Most likely not, it's just a terrible rate which is why you are advised never to use them. Never seen a rate that bad  but have seen them when the spot rate was around £1=€1.10 and they were giving £1= €0.90

Ayr_Rage

Theroux_Moo said:

That’s not my question. Have they got the rate the wrong round. Human error? 

No, once you're at the airport they've got you by your reproductive organs.

Theroux_Moo

Ha yes it seems so. So they’re just rip off merchants. I’ve never seen a rate so bad either. I hope people spot this, it shouldn’t be allowed. 

MeteredOut

Theroux_Moo said:

That’s not my question. Have they got the rate the wrong round. Human error? 

Not a mistake or error. I was in an airport last week and I looked at the exchange rate at one of exchange booths in the departures hall. The GBP/EUR rate was around 0.84 then, and GBP has weakened against EUR since then. I've never (and never would) exchange at an airport.

Theroux_Moo

Thanks all. Clearly I didn’t know how bad this could be - so today’s been an education! 

la531983

MeteredOut said:

Theroux_Moo said:

That’s not my question. Have they got the rate the wrong round. Human error? 

Not a mistake or error. I was in an airport last week and I looked at the exchange rate at one of exchange booths in the departures hall. The GBP/EUR rate was around 0.84 then, and GBP has weakened against EUR since then. I've never (and never would) exchange at an airport.

Although it is generally "fine" for an advance order, going off the MSE checker for bureaux in Luton. Not the best, but nowhere near the rate the OP got.

saajan_12

The way to tell would be to check the rate to switch the other way.