currency exchange where?

[Kenny98]

Hi - probably a silly question..... Would it be better value to exchange British £ into Euros in the UK or in Greece? Last time I had to exchange money you still had the drachmas.....
Obviously I'd prefer the option best for the Greek economy and where I'd get more Euros - which will be going to FOS x thanks Tina

[suej]

I take my euros with me got a good rate at Thomas cook the other day 1-20.

[Piglet]

Just read an article in the Guardian tonight and it says in the current economic climate wait till the last minute if going to Greece to get your Euro's/Drachma or they suggest just take pounds stirling for the best deals.
I've always used TravelEx online, booked the money ready for collection at the airport at a much better rate than the airport prices and at a much better price than anyway around.
Also look out for the £3.99 additional 'buy back' payment, Travelex will then buy back your currency at the same rate they sold them at. My last visit I saved £66 buy paying the £3.99

[Kenny98]

thanks - been and gone and we took cash, got a good rate - €1.21 instead of 1.11 the bank would have paid.

[Piglet]

Thats great Kenny, looks like it climbed again today as the Euro nations got very jittery! Squeaky bum time
We are not off until towards end of June so we might hang on for now

[Tigerlily]

I don't go till end of June either and I'm hanging on too.

[Tigerlily]

Thats great Kenny, looks like it climbed again today as the Euro nations got very jittery! Squeaky bum time
We are not off until towards end of June so we might hang on for now

Oh! I've just realised our tickers are the same so we obviously fly out on the same day.

[murmur]

Halifax Clarity Card..... Best way to go for spending abroad by far.

[faygate1]

Just remember with the Clarity card, you pay interest from the day of withdrawal. I just checked on the terms and conditons. They also say it is ilegal to put funds in, in advance, so you can't get round it that way. Not sure what Mastercard exchange rates are either, (M/C sets the Clarity card exchange rate) but I bet you can do better. It is true there is no fee, but it is worth checking against other 'no fee' providers.

Happy hunting!

[murmur]

Yeah I understand what you’re saying but I’ve done my sums and I still think it’s the best way to go.

We go through about £1200 when we’re over there; this is how I worked it out on today’s international exchange rate of approx €1.26.

(a) Getting cash over here
(b) Using a debit/credit card over there
(c) Using a Clarity card over there

(a) The international exchange rate (the one they quote on the news etc) is not what you get on the high street. They don’t do it for free. You’ll get about €1.23. £1200 will get you €1476, so you lose €36/£28 on the international exchange rate.
(b) Depends what card you use but there’s always a load (charge) on the transaction. You will get the visa/MasterCard corporate rate (which is about the same as the international exchange rate) but the charge can vary. The Nationwide card is an ok card so as an example I’ll use that one. They charge 2% load plus a £1 transaction fee for using the ATM. I figure if you withdrew £1200 over 10 transactions it would cost you £34
(c) The clarity card has no fee and no load… But as you say you do get charged interest from the day you withdraw it. The rate is 12.9% which is 1.075% per month. 1.075% of £1200 is £12.90.

(a) £28
(b) £34
(c) £12.90

As you say MasterCard set the rate but it is always about the same as the international exchange rate…… You can’t do better.

But having said that… Do as you all feel, we’re all different. After 10 Mythos who gives a **** anyway.

Enjoy your hols!

Drew

[Piglet]

I've been reading that with the current run on the Euro, it is best to sit back and wait. Get your currency at the last minute. Or the other advice I've seen is take Pounds Sterling to greece and exchange at a much better rate. Look at these links as well.

http://www.telegraph.co.uk/finance/pers ... euros.html

http://www.bbc.co.uk/news/business-18086419

http://www.bbc.co.uk/news/business-18018635

Get me to the Greek

[faygate1]

Hi Drew,

Thanks for the illustrations, I see what you mean. I checked on the mastercard exchange rates and to my surprise, you are absolutely right! (Not that I was doubting you, just that MC would be so good!)

Anyway, accepting all that, and going with the Clarity card option, we can even improve on that! Provided that we have been busily saving for the trip and have the funds in the bank, and provided we have internet access, as soon as the clarity transaction shows then do a transfer and pay it off, thus saving £12.90 (or nearly) on the interest. Sounds like lots more Mythos to me, yippee!

[murmur]

Funny how we calculate money saved in Mythos eh? Hehe

Good you've gone with the Clarity card but I'm not sure you'll get away with virtually no charge.

I think that even if you pay off the balance online immediately, you'll be charged interest from the day you withdraw till your statement day.

You withdraw some cash halfway through the month and your statement date happens to fall on the 1st of every month for example, you'll be charged a couple of weeks interest.

I'm guessing this from the terms & conditions that state "We calculate interest we charge on your average daily balance and charge it to your account on each statement date."

I hope you're right thou!!

It's still the best way to go in my opinion anyway.

I'll get to try it out in a few weeks!!

[smdavis]

Hiya. Was just wondering if anyone who's lucky enough to have been out to Thassos already, could confirm what sort of rate they got if exchanging sterling out there. Believe its currently about 1.24 here? Trying to work out my Mythos spending money Thank you all!

[Piglet]

Yay Tiger Lily You flying from Birmingham? If so see you there Look for two grown boys (18 and 16) and two haggered parents LOL. Im the big guy with glasses and a much smaller wife
We're staying at Rachoni this year and sooooo looking forward to getting back after a four year break