Currency exchange

[Soir]

is post office about good as it gets rates wise?

also, anyone keep tabs on exchange rates..very low to convert to Euro and we fly to Italy in a 3 weeks...worth hanging on at all?

[Red&WhiteMonkey]

There's unlikley to be any significant movement in levels in three weeks substantial enough to dramatically affect your holiday money. Unless you're changing thousands of pounds I wouldn't worry about it.

[Soir]

3k (a lot to me esp if the extra pays for a meal!)

[Easty-5]

The Cheque Centre seem to do the best exchange rate up here in Aberdeen. In 3 weeks the rate can change quite a bit. I recently changed £1750 ito US dollars. It was hovering at about 1.53 but then it started to fall so I deceided bugger it I'll change now. I got a rate of 1.506. 2 weeks later it's back up to 1.56. Not a great deal but I would have been $94.50 better off if I had waited. That can get you a few meals in the USA.

[Red&WhiteMonkey]

I would agree that £3000 is enough cash to consider the changes in rates. I’m no finance wizard and offer the following purely as general opinion.

According to XE.com over the last 12 months the highest the euro has been against the pound is 1.15 and the lowest is 1.07. Setting aside commission and based on £3000 this equates to at best £3450 and at worst £3210, a difference of £240. In comparison ,over the last month the highest has been 1.22 and the lowest 1.14. On £3000 this equates to £3660 and £3420, a difference of £240. By pure coincidence the monthly and yearly difference are identical, which suggests the risk is little different overall but shows the general downward trend.

Today the current rate is hovering around 1.15 and has been generally dropping over the last month but has yet to reach the overall low of 1.07 seen within the last year. Upshot of all this I believe that the rate will fall slightly in the next three weeks and stay around the 1.13 to 1.16 mark. Of course trends could completely reverse and it could shoot up in the next three weeks but I think that would be most unlikely. As a 0.01 change on £3000 equates to £30 you could be £60 worse off or £60 better off than changing today. To be honest I’d just change now and forget about it.

[F i F]

if you go to moneysavingexpert.com they have a link in their travel money section where you can find out the best deals ranked in order for your currency and amount based on whether you want the currency delivered or a deal in High St.

We found Marks and Sparks very competitive but that may no longer be the case.

Sorry this phone does not do links, the link mentioned is occasionally a bit obscure.. If you can't find it come back and I'll find a computer linked to the real world and post you a link.

[WWESTY]

Post Office aren't the best.

We offer rates which are consistently better than others on the High Street, but we're not very local to you!!!

Internet rates can be better still, but make sure you read all the terms and conditions, and be wary....

[F i F]

Just been looking at the rates.

£1= 1.10eu seems about as as good as it gets today. glad I got 1.175 a couple of months back.

[WWESTY]

F i F said:

Just been looking at the rates.

£1= 1.10eu seems about as as good as it gets today. glad I got 1.175 a couple of months back.

We are selling @ 1.105 : £ today.

At least the dollar rate has recovered recently

1.54:£ today.

[5pen]

http://www.cityforex.co.uk/exchange_rates.cfm Based in London, but they deliver I believe. On £3k they'll be about £60 better value than the PO.

[ATM]

I have used HIFX. They also deliver the notes to your door. You can check the rate on their site simple.

[Arnold The Bat]

http://travelmoney.moneysavingexpert.com/holiday-m...

[Soir]

I've left it a bit late - some need 7 day delivery so post office seems best option (but about 60eu less on £3k) and I would prefer to pick it up.

only week to go, do you think worth leaving until the last minute? or just buy today? (rate seems to have got lower since original post)

[F i F]

Isn't £3000 above most places maximum limit?
And to get best rates you MUST order online beforehand not just pitch up cash in hand.

[Soir]

F i F said:

Isn't £3000 above most places maximum limit?
And to get best rates you MUST order online beforehand not just pitch up cash in hand.

yes, but can do 2500 + 500 order. Can order post office online then collect at a branch the next day (for better online rates rather than branch rates)

[black1]

ice international currency exchange, you can order up to £7,500 on the phone
08448003974

[Soir]

so buy today or leave it until next week?

[Red&WhiteMonkey]

I'm not gloating but my prediction on the rate slightly dropping seems to have been right. You should have bitten the bullet and bought when you first asked the question.