Whats really the best way to exchange British £ into Euro?

Question

Alot of people told me to use the PO last time but when I worked it out in relation to the exchange rate they had still taken a lump off me because they used a slightly different rate.

So where will you get the BEST, HONEST deal when converting your money to Euro's?

Answer 1

Marks and Spencers is where I usually go!!

Answer 2

In my experience all the normal high street places, post office, travel agents etc. that advertise 'commission free' have taken their cut by offering you an exchange rate lower than they themselves have paid. This is understandable, they are running a business, in effect they are buying wholesale and selling retail. You of course can find out the 'best rates' by looking at web pages or ceefax page 241 on BBC TV. BUT what you see are for big business deals.
What I normally do, both for euros and dollars is try to see which way the high street exchanges are going for a little while before going away and get the minimum for my anticipated immediate needs at my destination.
Then use a Nationwide Building Society debit, not credit, card to withdraw cash in the holiday currency from a hole in the wall cash point at my destination. Nationwide will actually convert for you at a higher rate than the high street back home.
Obviously the money markets can be very volatile and there are sometimes big daily, even minute by minute changes. If you really want to bother with all the maths and the rates worry you it might pay you to withdraw money to pay in cash on your holiday for things rather than use your debit or credit cards. This is because the shopkeeper may take several days to submit the slips you have signed into his bank and then the rates may have changed against you by the time your bank does the conversions.

Answer 3

If the united kingdom had entered into the euro some years in the past, each physique's mortgages could have been over a million% greater less high priced. to some this is over £a hundred in line with month. i know a lot of people decide for to maintain the pound, yet truthfully while you're dropping out it won't be able to be good. The euro is now the main effective foreign places funds. The greenback is in freefall against the euro and the pound is in basic terms approximately as undesirable.

Answer 4

The best place to change into Euros is in Europe plain and simple, they want to get rid of them so they offer the best rates! Change your money after you have left England it's the truth you can exchange it anywhere once you're there and you will see the difference when you get the money.
Changing it back though is a different story that I don't have an answer for so try and be accurate with what you do convert.

Answer 5

I've found that Marks and Spencers offers the best exchange rate.

Where most places (post office included) take 10cents off the actual rate of exchange, M&S only take 3.

The only thing is to do your research. Look around all the places that do currency exchange and see which one is the best. I'm only speaking from my own experience.

Answer 6

Personally I have found you often get a much better rate when your actually abroad from the exchange bureaus. I would change up £100 at your bank as they won't charge you commission and then do the rest when your on holiday.

Answer 7

When travel agents advertise "Commission Free" you always get a lower rate of exchange. I have found that the best exchange you can get is to have Travellers Cheques, and change them when you reach your destination.

Answer 8

Find a travel agent that does commission free exchanges

Answer 9

Rates are more or less the same.But what you have to look is the incidental charges,commission etc they charge.You have to check all travel agents and find out the best one.Banks are reasonable and safe.

Answer 10

best place is local travel agent, and they will buy any un-used euros off ya when you get back

Answer 11

I would use the bank where you hold your account. You might get it commission free that way.