Exchanging back to GBP... Best method?

[The Road Crew]

What's the most cost effective way of exchanging foreign currency (about 2.5k in cash, notes) back to gbp?

I've always used Mozo/Revolut cards to spend overseas previously , but for various reasons I've had cash this time, got a lot left I need to move back to GBP cash.

Any experiences most welcome...

[LimaDelta]

Keep it for your next trip. The EUR:GBP rate isn't great at the moment.

Failing that, I've found high-street forex or 'holiday money' places offer a better rate than my bricks and mortar banks (Lloyds & Barclays).

[The Road Crew]

Yeah I was thinking about storing it but I could do with it in pounds really.

High Street but back rates aren't too bad I guess, they are bettered by a few london exchanges if course this means posting the cash which I aren't too sure about.

[QuartzDad]

I went to Sweden for a week last month. Picked up some cash at the airport just in case and paid £4.99 for their buy back guarantee.

Not unsurprisingly I came back not having spent a penny. Travelex were true to their word and bought it back, apparently at an enhanced rate due to the guarantee.

I lost 24% on the sell/buy spread. Cashier stated it would be been closer to 50% without the guarantee

[grumbas]

QuartzDad said:

I went to Sweden for a week last month. Picked up some cash at the airport just in case and paid £4.99 for their buy back guarantee.

Not unsurprisingly I came back not having spent a penny. Travelex were true to their word and bought it back, apparently at an enhanced rate due to the guarantee.

I lost 24% on the sell/buy spread. Cashier stated it would be been closer to 50% without the guarantee

Airport rates are criminal, I always work on the basis the easiest/cheapest way to get cash is just to use a cash machine in your destination with your normal bank card.

With the caveat, it only makes sense for reasonable sums, say £1-200 minimum because there's normally a fixed fee of a couple of quid, but you'd never pre-buy less than that from an exchange place anyway.

Although in this day and age why more people don't get a travel card from Transferwise etc is beyond me. Perhaps for the package holiday regulars, getting your travel money has always been part of the process and they don't know otherwise?

[BobToc]

Yes agreed, I’d always use an ATM for any reasonable sum. Kiosks in any location are always a rip-off.

[LimaDelta]

That's not really the question being asked though, is it?

[4Q]

LimaDelta said:

Keep it for your next trip. The EUR:GBP rate isn't great at the moment.

Surely that will help if you’re changing it back?

[PistonHead007]

No, it would help if the GBP:EUR wasn't great...

[The Road Crew]

LimaDelta said:

That's not really the question being asked though, is it?

Indeed! I have always used Monzo/Revolut cards previously and will do so again in future, but this trip had to be cash as there was little in the way of card machines and ATMs at our destination.

I'm not sure about posting cash so I'll trying calling a few local places tomorrow.

[MisanoPayments]

Did you find a solution to change your cash?

I use Thomas Exchange Global for my holiday money. I've been in the industry for 14 years or so and they suit my needs well. Having said that, I do have two or three of their desks within walking distance of the office, so it's very handy. Depending on where you are it might not be so!