Watch out if buying Euros at Post Office

Subject: Watch out if buying Euros at Post Office Fri Apr 01, 2011 5:26 pm

Just been in to Post Office, Heswall to buy mine.Rate advertised 1.07 per £.I checked firstly with the lady before handing over my hard-earned."Yes 1.07 but only 1.05 if you are buying less than £500 worth".

I wasn't but it pays to be aware especially if you are buying your holiday spends in stages to average the exchange rate.

If in future I am buying less than £500 worth I will get them from Co-Op Travel in the same town where the rate is the same for every £.

I could expect questions from Forum Members along the lines of "WS why don't you buy them from the cashpoint in Pto Pollensa? You will get the better Interbank rate there instead of the Tourist Rate?" (which was the 1.07 here today).

I have researched this before.If drawing euros from a Bancomat in Spain using your UK Bank card you do indeed get the Interbank Rate.But you also pay a commission rate (2.5% in my Barclays case) plus a transaction fee of £1.50 for less than 150 euros. I am not having any of that except in emergencies.

Mad Destination Expert Posts: 19061 Join date: 2010-07-02

Well perhaps Mark will let us know what it is out there now, if he logs on

Subject: Re: Watch out if buying Euros at Post Office Fri Apr 01, 2011 5:42 pm

For the 1st time this year I ordered from post office online. Ordered one day - picked up from local PO
the next day.

Minimum spend for no commission £400. Todays rate is 1.10...................

Subject: Re: Watch out if buying Euros at Post Office Sat Apr 02, 2011 7:01 am

Great info WS & Beeech. As Delboy says, hopefully Mark will let us know, what the rate is out in Palma Nova soon.

_________________
Mick

Ask me any question & I will give you any answer

Posts: 101 Join date: 2011-01-10 Age: 41 Location: Fife

I got 1.10 with no minimum spend at the Cheque Centre yesterday, thats the second time I've used them and they seem to be quite competitive, the girl who served me told me that they check the Post Office, travel agents and banks on Kirkcaldy high st daily and they will match or better their rates. I don't know if thats a nationwide policy though or just a local thing.

Subject: Re: Watch out if buying Euros at Post Office Wed Apr 06, 2011 1:14 am

£1 = €1.10 widely available, no commission, I used MickyMar next to Santander bank (bottom of C'as Sabanors) for just £40 = €44 no small transaction charges.
Paid for some tobacco & smokes in Tabacs in Sterling, got £1 = €1.12.
Perfume shops had signs on the window that they would give you £1 = €1.20

Travelex at Luton airport were offering just £1 = €1.02 last thursday 31 March Sad

Mad Destination Expert Posts: 19061 Join date: 2010-07-02

So basically a couple of euro's better over there then