euros to gbp

hannah29_2

i may be being a little naive here so apologies first off. hubby is coming back to the uk today and has 500 euros in his pocket, what is the best, cheapest way to change them back. we have never ordered money from an agency and always draw out abroad on cards. more often than not we save them till the next trip but he is coming back with quite alot this time. can you pay them into a bank or is it best taking them to the post office or agent?
hannah

dzug

You can't pay them straight into a bank. If that bank has a BdeC it will change them for you and then pay the ££ in, but banks' charges tend to be high. (8 or 9%, hidden in the exchange rate)

The Post Office will change them - but with charges similar to a bank.

M&S will probably be the best easily accessible place - their rates tend to be better in the first place and not skewed against buying currency. Could still be a nasty shock though

Or better still - sell them to a friend who is going at a mutually advantageous rate.

Barter

As the euro is strong at the mo., & seems set to remain so, AND considering the unfavourable rate you'd be likely to get from 'selling' them back, I'd keep them for next time, even if it's some time away yet, despite the large sum you've got. That's what I'd do, right or wrong!

Inactive

Barter wrote: »

As the euro is strong at the mo., & seems set to remain so, AND considering the unfavourable rate you'd be likely to get from 'selling' them back, I'd keep them for next time, even if it's some time away yet, despite the large sum you've got. That's what I'd do, right or wrong!

So would I.

Or sell them to a friend going to Europe.

LesD

Inactive wrote: »

So would I.

Or sell them to a friend going to Europe.

Ditto!!!!!

hannah29_2

ok just an update.....went into a travel agents and they offered us £390 for 570 euros.....no good at all. other agents and post office were pretty much the same give or take a few pounds we then went into our bank first direct(hsbc) and they gave us 430.00 gbp. basically charging us 25 gbp for exchanging them so we were quite happy with that