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Original poster

Best way to buy Euros?

12 replies

geordieminx · 10/04/2008 08:34

Ok so the euro is now at an all time high, so our holidays are going to cost more.

Does anyone know the best way to buy euros - post office/travel agent/bank? In the past I have usually just drawn large amounts from cash points while over there but dp says this will cost a fortune?

Any ideas?

OP posts:
janinlondon · 10/04/2008 10:25

Do you have an M&S card? You can purchase Euros at any of their bureaux de change on your card and it is NOT counted as a cash advance. They treat it as a standard purchase. To my knowledge they are the only people who do this. Which means you can budget it over a couple of months if you buy at the right time (just after your statement date) and still pay it off in full at the next payment date. Their exchange rates are usually comparable to post office etc.

mumblechum · 10/04/2008 12:50

I bought some from the post office the other day for 0 commission.

The rate is really bad at the moment, just got back from paris where a can of coke is 4.5 euros, or £3.60!

missingtheaction · 10/04/2008 12:58

you can buy them online and pick them up at the bureau de change at the airport - i did this and the rate was excellent

there are so many different rates and methods of charging you will never find the absolutely best rate - it depends on the combination of rate x charges x how much you are taking out - you need a degree in maths and a crystal ball to compare all the options.

I would just do three comparisons - how much would your bank charge you to take out ?300 from a cash machine; how much would it cost you to take this from a 0% commission place like the post office; how much from a bureau de change at the airport. you can do these comparisons without going nuts, and at least they will give you an idea of what's best for you.

but don't go nuts - it's not going to make a huge difference on the cost of the holiday as a whole

cornflakegirl · 10/04/2008 13:34

I used to work for Travelex (a few years ago now), and the evidence then was that the cheapest way was to take money out of cashpoints abroad. The exchange rates offered they offered were closer to spot rate than the rates offered by bureaux de change.

DaddyJ · 10/04/2008 13:38

That's exactly what I always do.

Just make sure you use your debit card NOT your credit card!

alibubbles · 10/04/2008 13:42

If you use your debit card abroad there is a transaction fee, unless you have a Nationwide card and then it is free. (DD lived in Paris for 3 years at Uni, so every penny counted!)

hifi · 10/04/2008 13:50

i use travelex.co.uk order on line and collect at airport.

Rachmumoftwo · 10/04/2008 16:10

The link doesn't seem to be working, which is a shame, as I need to buy some Euros too!

SueW · 10/04/2008 16:11

Look at the money exchange things on moneysavingexpert.com

Will find link

SueW · 10/04/2008 16:11

travelmoney.moneysavingexpert.com/

scaryteacher · 10/04/2008 17:45

The banks can only charge a maximum of about £4.50 I think on 600 Euros, or they did last week. I live in Belgium and have to raid the UK account piggy bank at times, using the debit card, and that is the cheapest way we have found to get Euros.

Nyeh · 10/04/2008 19:30

MISSINGTHEACTION Can you update us on here please thanks

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