euros

n8rbos

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yesterday i went in to tax my van and on the p.o.travel board it said buying euros at 1.22 and selling at 1.04 am i missing something??:confused:
 
n8rbos said:
yesterday i went in to tax my van and on the p.o.travel board it said buying euros at 1.22 and selling at 1.04 am i missing something??:confused:
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thats how this money changing places make their money, Not the best place to get foreign money. use ATM aboard using a debit card that carries no charge but be careful which bank's debit card you use some give you a true interbank rate (best value) Saga, Nationwide,(free in EEC) some have built in charges in the exchange rate
 
but aren't the p.o. losing money? they paying out more than they takin' in!
.18 by my reckonin':confused:
 
n8rbos said:
yesterday i went in to tax my van and on the p.o.travel board it said buying euros at 1.22 and selling at 1.04 am i missing something??:confused:
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It means that you need to give them 1.22 Euro to get £1 back, but if you give them £1 you only get 1.04 Euro!

Today's Visa Europe rate (which is what Nationwide use for transactions in Europe) is that for £1 you effectively get 1.11 Euro

AndyC
 
n8rbos said:
but aren't the p.o. losing money? they paying out more than they takin' in!
.18 by my reckonin':confused:
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Because the PO deal in £ not Euro's they are making about 15%.

ie:- If you change £100 you would recieve 104Euro, if you the changed back that 104e @ 1.22 you woud recieve back £85.25 net loss to you of £14.75, gain to them of £14.75 (nearly 15%)

Hope this helps.
 
Don't make the banks richer !

Don't change money in the banks; you allways loose :mad:
Pay with VISA on the continent; widely accepted. No extra change rates.
If you want extra €: do your errands in a supermarket ask to round the bill
to a bigger sum; they pay the difference cash in € without charges :)
eg: your bill is 125€; round up to 200€ and have 75€ in cash :eek:;)
 
Belgian said:
Don't change money in the banks; you allways loose :mad:
Pay with VISA on the continent; widely accepted. No extra change rates.
If you want extra €: do your errands in a supermarket ask to round the bill
to a bigger sum; they pay the difference cash in € without charges :)
eg: your bill is 125€; round up to 200€ and have 75€ in cash :eek:;)
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Thanks for the tip. Here in the UK we ask for "Cashback". Is that term recognised in France perhaps?
What phrase should I use?

Regards,

Frank.
 
Yorkshirepudding said:
Thanks for the tip. Here in the UK we ask for "Cashback". Is that term recognised in France perhaps?
What phrase should I use?

Regards,

Frank.
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Have never tried it here in France with UK card, but I did try in Tesco's last year with a French visa card and was refused.
I just phoned my French daughter in law who said that she had never heard of it in supermarkets here in France.
I will double check when we do our weekly shop at the weekend.
 
Another method I've used in the US. is a preloaded Mastercard, mine is issued by Caxton.
There are no charges for use except at Atm's where they advise taking out a reasonable amount.
If the exchange rate is good, you do well. I last loaded mine at $1.98 which does well now against the present Sterling exchange. £1000 @ $1.98 against today's 1.51.
They cetainly exist for Euro's as my eldest son and his German wife find them invaluable on the Continent.
 
.

a number of years back now i admit but some financial adviser told me
the best option was to use credit cards whenever possible..:cool:.
carry as little cash as feasible.;)

last year some scrotal amoeba in a Belgian cafe ( no pin system.. signature)
sold my number to a moron who bought 5 mobiles...:eek:
credit card company refunded my dosh and issued another card.:cool:

so good advise at the time... have things changed :confused:


regards ;)

aj
 
Nolly said:
Have never tried it here in France with UK card, but I did try in Tesco's last year with a French visa card and was refused.
I just phoned my French daughter in law who said that she had never heard of it in supermarkets here in France.
I will double check when we do our weekly shop at the weekend.
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I can understand them not doing it on a credit card since they pay a percentage (typically 2%) to the credit card company on the total amount. On a debit card there is no charge and so no cost to the supermarket.
 
best rate for euros

using visa card aboard will still subject to charges from uk bank depending which bank you get your visa card from Some bank eg. nationwide do not put a levy on the transection and some do. So it is not always that you get a good rate using your VISA/Credit card Look at the small print in the agreement and you will find out
Some years a go my card was copied in the far east Although it was sorted out quickly but the aggrevation factor is just not worth it so now I carry just around the cash I need for the day by planning ahead
 
ajs said:
.

a number of years back now i admit but some financial adviser told me
the best option was to use credit cards whenever possible..:cool:.
carry as little cash as feasible.;)

last year some scrotal amoeba in a Belgian cafe ( no pin system.. signature)
sold my number to a moron who bought 5 mobiles...:eek:
credit card company refunded my dosh and issued another card.:cool:

so good advise at the time... have things changed :confused:


regards ;)

aj
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Nothing has changed I emailed and asked my bank today, their advice was as I thought, front load the credit card so that you are in credit and then use it as a debit card.

So long as you don't go into the negative you don't incur the same charges as going into negative, works the same if you take cash out of the hole in the wall whilst abroad as well.

You get the protection of a credit card transaction. If the card is stolen then they will refund the balance that was taken. :D:D

Yes some cards will charge you for using the card abroad but get one that won't :) Gota be safer than carrying loads of cash about and easier than travellors cheques which are a right pain to change now :)

I have only taken a visa and some 'cash for emergency' with me for years now since chip n pin came in, never had a problem using it anywhere, petrol, supermarket the lot.
 
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Just be careful with credit card,just got back from lanzarote and they debited me twice for a hire car , still trying to sort out
 
Yorkshirepudding said:
Thanks for the tip. Here in the UK we ask for "Cashback". Is that term recognised in France perhaps?
What phrase should I use?

Regards,

Frank.
Click to expand...

Have just spoken with my bank (Credit Agricol) and cash back at supermarkets is unheard of in France.
Because UK is not in the eurozone when we visit the Uk we have to pay commission 1.75% on all our French card transactions where as in the eurozone these are completely free.
If your card is free in the UK check the commission you pay in the eurozone.
 
Yorkshirepudding said:
I can understand them not doing it on a credit card since they pay a percentage (typically 2%) to the credit card company on the total amount. On a debit card there is no charge and so no cost to the supermarket.
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Unfortunatly French supermarkets do not offer the wide range of sevices that we experience in UK Supermarkets such as banking services, buying lottery tickets, pharmicy ect. Some things are still left to the high st, which I suppose is a good thing when protecting peoples livelyhoods. But things are changing and sadly not all for the good.
On the question of commission, Credit Agricol has just informed me that Nationwide offer the best rates of commission and the best commercial exchange rate with their card.
 
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