Euro (€) Currency Thread

vinylmusic

Berks_Saver wrote: »

OK, so I'm off to Europe On Sunday for a holiday
I have a Nationwide Debit Card
Does anyone know if I will get a better rate in Europe if I withdraw Euros from the machine OR from the UK?

thanks

It looks like Nationwide is one of the best
http://www.moneysavingexpert.com/travel/cheap-travel-money#topcards

cashcards could be the answer

I just got the caxtonfx card but I'm not sure if you'll have time to get one It took me about a week
try the travelex cash card. It may be quicker.
Avoid the Thomas Cooks card, they offered me a lousy rate of 1.155 for euros
Today I got 1.22 Euros cash to the pound at sainsburys which isnt bad. I took out 100 euros cash just so I dont have to use an ATM as soon as I arrive
The rest I put on my card at 1.245
The only worry I would have using a debit card is that you'd be at their mercy when it comes to which exchange rate they use
Good luck

benjus

Berks_Saver wrote: »

OK, so I'm off to Europe On Sunday for a holiday
I have a Nationwide Debit Card
Does anyone know if I will get a better rate in Europe if I withdraw Euros from the machine OR from the UK?

thanks

Nationwide debit card is THE best way to get cash abroad. Use the Nationwide card in the ATMs abroad to withdraw cash - taking cash from the UK will not get such good rates.

Remember: if the ATM offers to do the currency conversion for you and charge your account in Pounds Sterling, say NO. The same goes if a retailer offers to charge the card in Sterling. All transactions should be performed in the local currency. If you allow the transactions to be performed in Sterling you will be given a much worse exchange rate, and the retailer/bank will pocket some of the extra.

stevec59

Hi,
Sorry if this has been asked before,bur here goes.

I will need som Euro's next March,so here we go,

Currently £1 will get me @1.26 Euro I have heard that they expect the Euro to drop so £1 = 1 Euro,So I woud get less Euro's,but if a pint of beer costs 2 euro's now, will it still cost 2 Euro's when £1 = ! Euro? If not how much will it be?
I guess if the Euro is going to drop I am better off getting it now rather than next year?

Thanks

Steve

brodev

stevec59 wrote: »

Hi,
Sorry if this has been asked before,bur here goes.

I will need som Euro's next March,so here we go,

Currently £1 will get me @1.26 Euro I have heard that they expect the Euro to drop so £1 = 1 Euro,So I woud get less Euro's,but if a pint of beer costs 2 euro's now, will it still cost 2 Euro's when £1 = ! Euro? If not how much will it be?
I guess if the Euro is going to drop I am better off getting it now rather than next year?

Thanks

Steve

If we knew the answers to your questions we would all be multi-millionaires buying and selling currency. Nobody knows.

jammin_2

stevec59 wrote: »

Currently £1 will get me @1.26 Euro I have heard that they expect the Euro to drop so £1 = 1 Euro,

You mean that they expect the Pound to drop. Anyway, where did you hear that?

stevec59 wrote: »

So I woud get less Euro's,but if a pint of beer costs 2 euro's now, will it still cost 2 Euro's when £1 = ! Euro?

In Ireland, a pint of lager is about €4.50 in a bar. That would not go up just because UK have an ever weakening currency at the moment.

stevec59 wrote: »

I guess if the Euro is going to drop I am better off getting it now rather than next year?

Difficult to know. If the rate today is £1=€1.26, and you change £1000, then you'd have €1260 in your pocket. If, next week, it's £1=€1.28, then you'll be kicking yourself, because you could have changed you £1000 for €1280. However, if next week £1=€1.24, then your £1000 would only get €1240, so €20 down instead of up. 'Tis is gamble.

stevec59

Thanks for the answers, it was the travel agent that told me about the change in the Euro, I guess they wanted me to buy there and then, but I was only getting holiday info at the time, not even asking about money etc..


Steve

robnye

thought i was being clever and followed the 'change your money into foreign currency' for the best rate.

used the mse best currency thing...

went to the website for 'currency express', ordered my euros at the best rate
euros promptly delivered 2 days later....

now the pee'd off bit,

just checked my bank statement and i have been charged 2% of the transaction amount...

spoke to my bank (A&L), to be told, its not their fault its visa...

but surely A&L are the ones to blame, they deducted the money (cotton picking winkers!)

what i dont understand, is i paid by debit card (cash straight from my account) to a british company in pounds and then got charged for doing so..... it was a computer to computer transaction, how can visa justify charging me the same fee as they would charge if i had withdrawn the money overseas....... i would have ended up paying less n the high street....

uuuurrrgggghhhhhhh

benjus

robnye wrote: »

thought i was being clever and followed the 'change your money into foreign currency' for the best rate.

used the mse best currency thing...

went to the website for 'currency express', ordered my euros at the best rate
euros promptly delivered 2 days later....

now the pee'd off bit,

just checked my bank statement and i have been charged 2% of the transaction amount...

spoke to my bank (A&L), to be told, its not their fault its visa...

but surely A&L are the ones to blame, they deducted the money (cotton picking winkers!)

what i dont understand, is i paid by debit card (cash straight from my account) to a british company in pounds and then got charged for doing so..... it was a computer to computer transaction, how can visa justify charging me the same fee as they would charge if i had withdrawn the money overseas....... i would have ended up paying less n the high street....

uuuurrrgggghhhhhhh

This is not a Visa charge - it is listed on A&L's website (http://www.alliance-leicester.co.uk/current-accounts/interest-rates-and-fees/premier-direct-current-account.aspx):

Cash withdrawals at any Visa cash machine that is not part of the Link Network, or at any financial organisation which accepts the Visa card: A 2% charge (at least £2). The charge may also apply to buying foreign currency or traveller's cheques at any outlet that provides foreign currency.

I take it you didn't notice the link on the Travel Money Maximiser (above the results) saying something like "STOP - does your bank charge you for getting foreign currency?". This charge is imposed by several banks, and unfortunately I don't think there's anything you can do about it.

This has come up several times recently - I think the Travel Money Maximiser should be changed to make the warning about this charge more obvious.

robnye

i didnt think i would be charged, so didnt check A&L, i did check currecny express..... i have since checked the list and everyone charges.

just a bit miffed seeing as A&L are losing money.... bleeders....

I agree i think the money maximiser should perhaps ask which card you want to pay for currency with

shockedsaver

I am off to the Cape Verde islands at the beginning of October and i am a little confused about what currency i should be taking. Can anyone offer me some advice?
I have had a look on the usual sites but some say Euros and others say Dollars. Don't want to go with the wrong currency as i know there arn't many places to change it.

Any help would be great!:huh: