Convert or Transfer Money?
Options
brettm87
Posts: 2 Newbie
Hello,
I am flying to ROmania to be with a friend on the 27th and I am wondering what is better:
1) Convert my money on a site such as Tesco Travel (4.9 rate) - £4 fee
or
2) Transfer my GBP into my friends bank account before I go and then we withdraw it?
I use Barclays and if I do it online I get a 5.2 conversion rate for transfer and it costs £5.
When I am in Romania and at the cash machine when we try withdraw, will it cost more or does my friends bank charge too? Is there any other fee or will it be a case of £100 = 520 Leu when we withdraw?
If you can, I just need it in simplest forms - cash conversion with Tesco, or bank transfer to friend..
Thanks in advance
I am flying to ROmania to be with a friend on the 27th and I am wondering what is better:
1) Convert my money on a site such as Tesco Travel (4.9 rate) - £4 fee
or
2) Transfer my GBP into my friends bank account before I go and then we withdraw it?
I use Barclays and if I do it online I get a 5.2 conversion rate for transfer and it costs £5.
When I am in Romania and at the cash machine when we try withdraw, will it cost more or does my friends bank charge too? Is there any other fee or will it be a case of £100 = 520 Leu when we withdraw?
If you can, I just need it in simplest forms - cash conversion with Tesco, or bank transfer to friend..
Thanks in advance
0
Comments
-
Cash conversion = safe
Friends bank account = not safe ( might be a friend today who knows what tomorrow may bring )0 -
If you can, I just need it in simplest forms - cash conversion with Tesco, or bank transfer to friend..
If you do it now, you have time to sign up for a Starling Bank account in minutes on the phone app and receive your debit card, then use it to withdraw/spend at the best rate.
https://www.starlingbank.com/
Or perhaps even easier for just £100, take the cash with you and change it there at the best rate you can find (not airport).Evolution, not revolution0 -
greyteam1959 wrote: »Cash conversion = safe
Friends bank account = not safe ( might be a friend today who knows what tomorrow may bring )
Luckily for me I truly, 10% trust my friend. They earn more than me anyway and don't need my pennies lol.The bank transfer, Tesco should always be avoided for foreign currency. But I'm unable to believe that Barclays will give you a 5.2 rate today, when the mid-market rate is 5.23.
If you do it now, you have time to sign up for a Starling Bank account in minutes on the phone app and receive your debit card, then use it to withdraw/spend at the best rate.
Or perhaps even easier for just £100, take the cash with you and change it there at the best rate you can find (not airport).
The whole 5.2 rate is just what I "assumed" after seeing their page: barclayscorporate[dot]com/foreign-exchange-rates.html
(sorry, it says i can't share a link in a post as a new user)
This is my first ever time flying and it's so much more overwhelming than I could have thought, so I am really unsure what is what quite frankly. Is that not the rate they would exchange at if I do the bank transfer? If it isn't the rate they give what rate do they give and how do I see that?
Thanks in advance I appreciate0 -
Luckily for me I truly, 10% trust my friend
That much ?0 -
If it isn't the rate they give what rate do they give and how do I see that?
Make your life easy and save your pennies, sign up for Starling while there's still time. Or just take crisp pound notes with you. I assume there's not a huge sum involved and your friend will pick you up from the airport.Evolution, not revolution0
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