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  • FIRST POST
    • flaccus
    • By flaccus 10th Sep 18, 8:37 PM
    • 9Posts
    • 0Thanks
    flaccus
    0 WOW
    Feeling ripped off by Thomas Cook
    • #1
    • 10th Sep 18, 8:37 PM
    0 WOW
    Feeling ripped off by Thomas Cook 10th Sep 18 at 8:37 PM
    Hi everyone, I went to a Thomas Cook branch today and exchanged 100€ into Pounds — they gave me £78.67. When I went home and checked their website, it says that for 100€ I would get £91.39. That's £12.72 more! does anyone know why?

    Any help on this would be greatly appreciated as I think they're ripping people off and I am ready to take this further if that's the case.
Page 2
    • TadleyBaggie
    • By TadleyBaggie 12th Sep 18, 11:51 AM
    • 2,904 Posts
    • 2,214 Thanks
    TadleyBaggie
    Some FX outlets will buy back using the sell rate but I suspect their sell rates are set low to compensate.
    • Caz3121
    • By Caz3121 12th Sep 18, 12:00 PM
    • 11,442 Posts
    • 7,490 Thanks
    Caz3121
    Many places advertise their buy and sell rates
    eg M&S standard sell rate - 1.0788 (€100 would cost you £92.70)
    M&S buy rate 1.2358 (€100 would get you £80.91)
    so bringing back €100 of unused currency to change back would cost you about £12 which is why many people suggest keeping them for next time or selling to a friend
    You may feel ripped off but this is standard
    • Caz3121
    • By Caz3121 14th Sep 18, 3:54 PM
    • 11,442 Posts
    • 7,490 Thanks
    Caz3121
    sam - self promotion is not allowed. - you previously if anyone had used them as you were thinking of booking with them - but you appear to have the company as your home page! - your post will get deemed as spam and removed
    • NoodleDoodleMan
    • By NoodleDoodleMan 17th Sep 18, 8:09 PM
    • 601 Posts
    • 191 Thanks
    NoodleDoodleMan
    I had a quick look at Euro rates at Post Office this morning - Buy Back was 13 cents above the Sell rate - which is probably much in line with Thomas Cook's FX rates today.

    You would have experienced more or less the same alleged "rip off" deal elsewhere, so no grounds to pinpoint TC specifically, that's how they all operate.
    Last edited by NoodleDoodleMan; 17-09-2018 at 8:11 PM.
    • 814man
    • By 814man 18th Sep 18, 1:52 PM
    • 364 Posts
    • 370 Thanks
    814man
    You can put rip off in the title and mention it as often as you like but the reality is that you were not ripped off. You lost out financially as a result of entering into a financial transaction that you did not fully understand. Learn the lesson and thanks for posting on here as I suspect that you are not alone in not fully understanding this and hopefully others may learn as well.
    • NoodleDoodleMan
    • By NoodleDoodleMan 20th Sep 18, 9:09 AM
    • 601 Posts
    • 191 Thanks
    NoodleDoodleMan
    I'd recommend a "user friendly" credit or debit card to the OP for future use abroad - then he can withdraw as little as he needs from an ATM on a daily basis, and not return home with a wad of redundant foreign currency.


    https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/
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