Exchanging currency, I need Euros!

Mansize_tissue · 30 Aug 2009 at 22:21

I want to exchange around 200 to 300 of my good British pounds into the euro.

I've been looking around and everywhere seems to be saying they're offering the best rates.

Advise me please! Where should I get it exchanged?

Orion21 · 30 Aug 2009 at 22:39

Last time I needed Euros, just under a year ago I used my Nationwide Visa Card at a cash machine.

I think they give you a good rate (Visa I think it is) where it was pretty much the market exchange rate on withdrawal.

ADDED: http://www.corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

It will depend whether your bank charges for foreign transactions I am pretty sure Nationwide didn't charge when using the card.

[TW]Fox · 30 Aug 2009 at 22:41

Orion21 said:
Last time I needed Euros, just under a year ago I used my Nationwide Visa Card at a cash machine.

I think they give you a good rate (Visa I think it is) where it was pretty much the market exchange rate on withdrawal.

A Nationwide account is the best possible way to use currency abroad.

meghatronic · 30 Aug 2009 at 22:42

Mansize_tissue · 30 Aug 2009 at 22:48

meghatronic said:
M&S

That's where I got mine exchanged last time, then I used my card to withdraw cash for the rest. However, I was charged something like £1.50 each time (I'm with Halifax by the way, I assume this charge still applies). Hopefully I won't have to make too many cash withdrawals when I'm away this time.

Mulder · 30 Aug 2009 at 22:51

[TW]Fox;14781916 said:
A Nationwide account is the best possible way to use currency abroad.

A mate found out the hard way they have started charging for debit withdrawals abroad now. It really was too good to be true.

[TW]Fox · 30 Aug 2009 at 22:52

Mulder said:
A mate found out the hard way they have started charging for debit withdrawals abroad now. It really was too good to be true.

The 'hard way'? The charge is less than 1%. Don't be so dramatic

Mulder · 30 Aug 2009 at 22:57

[TW]Fox;14781972 said:
The 'hard way'? The charge is less than 1%. Don't be so dramatic

lol, fair enough. It was still a shock after her months abroad

Windle · 30 Aug 2009 at 22:59

[TW]Fox;14781972 said:
The 'hard way'? The charge is less than 1%. Don't be so dramatic

Actually it's normally a lot more... (This is for Debit cards. CCs are normally worse)

Abbey

Currency Conversion Load: 2.75% + £1.25 per purchase

Cash Withdrawal: 1.5% min. £1.99

Alliance & Leicester

Currency Conversion Load: 2.95%

Cash Withdrawal: 2% min. £2

Barclays

Currency Conversion Load: 2.75%

Cash Withdrawal: 2% min £1.50 max £4.50 (except Barclays cash machines or those within the Global Alliance.)

Cahoot

Currency Conversion Load: 2.25%

Cash Withdrawal: 1.5% min. £1.50

Co-Op

Currency Conversion Load: 2.75%

Cash Withdrawal: 2% min £2

First Direct

Currency Conversion Load: 2.75%

Cash Withdrawal:1.5% min £1.75

Halifax

Currency Conversion Load: 2.75% + £1.50 per purchase

Cash Withdrawal: £1.50

HSBC

Currency Conversion Load: 2.75%

Cash Withdrawal: 2% min £1.75, max £5

Intelligent Finance

Currency Conversion Load: 2.25% + £1.50 per transaction

Cash Withdrawal: £1.50

Lloyds TSB

Currency Conversion Load: 2.99% + £1 per purchase

Cash Withdrawal: 1.5% min. £2 max £4.50

Nationwide

Currency Conversion Load: 0% in Europe, 0.84% Worldwide

Cash Withdrawal: NIL

NatWest

Currency Conversion Load: 2.75% + £1.25 per purchase

Cash Withdrawal: 2% min £2, max £5

RBS

Currency Conversion Load: 2.75% + £1.25 per purchase

Cash Withdrawal: 2% min £2, max £5

Smile

Currency Conversion Load: 2.75%

Cash Withdrawal: 2% min £2

As you can see, combined with the load on the currency exchange using your debit card abroad is a VERY poor way to go.

For £300 the best deal currently for collection is:-

Thomas Exchange UK

Exchange Rate:1.131
Amount of Euros if collected: 339.30
Amount of Euros if delivered: 333.65
Collection Cost: Free

Location: One London West End branch. Find it.
Delivery Cost: £5.00 for each £2,500 of currency ordered. Same rate as instore.

For £300 the best deal currently for delivery is:-

Crown Currency Exchange
Exchange Rate: 1.134
Amount of Euros if collected: N/A
Amount of Euros if delivered: 340.17
Delivery Only

Cost: £5 for orders under £300 when you call 0800 612 7273. Free for larger amounts, online.

Use this site http://travelmoney.moneysavingexpert.com/holiday-money/#results for comparison if you don't buy know as exchange rate etc fluctuates.

[TW]Fox · 30 Aug 2009 at 23:01

Windle said:
Actually it's normally a lot more...

We are talking about Nationwide, so no, it's not.

Nationwide

Currency Conversion Load: 0% in Europe, 0.84% Worldwide

Cash Withdrawal: NIL

As you can see, combined with the load on the currency exchange using your debit card abroad is a VERY poor way to go.

From your figures no, I cannot see that.

What was your point?

Windle · 30 Aug 2009 at 23:06

[TW]Fox;14782006 said:
We are talking about Nationwide, so no, it's not.

From your figures no, I cannot see that.

What was your point?

It's not just directed at you. Not everyone has access to a Nationwide current account. Fair enough in the example you sited it does apply.