Euro (€) Currency Thread

dealsearcher

I cannot see the euro going back to the 1.45 that it was 18 months or so ago. I would hope to be proved wrong but I can't see it myself. I think we will be lucky to see 1.25.

dzug1

antenna wrote: »

Cash is King,take around 50 euros emergency cash and the rest in £s,unless you think euro rates will fall,then take more euros bought in uk at the better rate.You will nearly always get a higher than uk rate at a good bureau in spain,but read my earlier post.
You will allways pay a fee if you use anything other than cash,the fee may be added before you get a "card" or when you use the card,and this applies to travellers cheques as well,even though the nationwide dont charge a fee when you use your cashcard abroad,a fee will be charged by the cash machine bank abroad,

And you will ALWAYS but ALWAYS pay a fee to get that cash in the first place which in many - even most - cases will be more than the charges using a card. It may not be called a fee and it may even be claimed as 'commission free' but it will be there hidden in the exchange rate.

And in euroland you will NEVER be charged a fee by the cash machine (unless like here it's in a convenience store or similar). If you are charged a fee it's YOUR bank charging it.

inspector_monkfish

morning dudes

not alot of change whilst i was off..... still trading around 1.1290 right now

did i miss anything?

jyonda

Not really. Any relevant figures out today?

inspector_monkfish

UK Nationwide House Prices out sometime this week (prob Friday)

Italian CPI came out roughly inline with expectations earlier today
Nothing else today.

nudging up to 1.1350 as we speak...

inspector_monkfish

through 1.14

Trichet has finally admitted that Eurozone is under 'severe strain' !

antenna

dzug1 wrote: »

And you will ALWAYS but ALWAYS pay a fee to get that cash in the first place which in many - even most - cases will be more than the charges using a card. It may not be called a fee and it may even be claimed as 'commission free' but it will be there hidden in the exchange rate.

And in euroland you will NEVER be charged a fee by the cash machine (unless like here it's in a convenience store or similar). If you are charged a fee it's YOUR bank charging it.

Some competitors charge up to 2.75% for buying goods or services and withdrawing cash abroad. See how much you could save with our calculator for using your card overseas.


We do not charge you commission for using cash machines abroad but the machine providers may charge. We have no control over this.
The above from the Nationwide terms and conditions
Now show me where it says you will NOT be charged a fee by the cash machine abroad.

antenna

dzug1 wrote: »

And you will ALWAYS but ALWAYS pay a fee to get that cash in the first place which in many - even most - cases will be more than the charges using a card. It may not be called a fee and it may even be claimed as 'commission free' but it will be there hidden in the exchange rate.

And in euroland you will NEVER be charged a fee by the cash machine (unless like here it's in a convenience store or similar). If you are charged a fee it's YOUR bank charging it.

BY your reasoning then,the money you get from the cash machine abroad using your nationwide card with no charges MUST include a fee hidden in the exchange rate given.

antenna

For example,if the nationwide calculate the exchange rate at 1.08 euros to the pound at the time you withdraw the money a good honest local bureau de change will be offering 1.10..........My Halifax branch in spain allows me to tranfer pounds from my Halifax uk account to my Halifax spain account converted to euros at no charge............great eh!.........not quite.....i can get at least 3 cents more to the pound by changing at a local bureau....and more by using a online fx dealer

dzug1

antenna wrote: »

The above from the Nationwide terms and conditions
Now show me where it says you will NOT be charged a fee by the cash machine abroad.

It doesn't say so in Nationwide's T&C - it's just general banking practice in Europe, and just about everywhere else in the world except North America where the norm these days is to charge a fee. Nationwide put in a blanket statement to cover themselves.

I've used ATMs in just about every country in Europe and NEVER been charged a fee.