Exchange my money over here or over there?

[The Andy Naylor Fan Club]

Hi all, off on my hols this Sunday. We are going to Tenerife and was wondering where best to change our money. What with the pound falling, would it be better til we got to Tenerife or do it at the bank? Cheers.

 

[Springal]

Are we talking a lot of money here?

 

[Bill Cassidy's tie up]

i was in Lanzarote last week and the rate was better there getting 115 opposed to 112 here

 

[KZNSeagull]

Unless you are changing thousands, it won't make much difference.

 

[The Andy Naylor Fan Club]

Are we talking a lot of money here?

£400 - £500.

 

[Lord Bracknell]

British travellers stock up on holiday euros and dollars as pound 'could be headed for parity' with single currency | This is Money

 

[sully]

I can never be bothered with all this changing money in advance nonsense.

I just use the cash machines at the local banks when I get there. There's generally only a small charge, if any, and in the grand scheme of things (cost of the holiday), it saves messing about and carrying large sums of money around. I just get it as and when I need it like I would at home.

 

[The Andy Naylor Fan Club]

I can never be bothered with all this changing money in advance nonsense.

I just use the cash machines at the local banks when I get there. There's generally only a small charge, if any, and in the grand scheme of things (cost of the holiday), it saves messing about and carrying large sums of money around. I just get it as and when I need it like I would at home.

Actually sounds like the best option. As you say there is only a small charge so I think this may be for me.

 

[Springal]

Yep normally for something 'a few hundred quid' up, I just get it out as a lump on my debit card or something. My bank only charges a small handling fee, and you get a good rate.

if you really do want cash, look online, although 'delivery charges' can bring the overall value down, if you can't collect. Martin Moneysavingexpert has a holiday money comparison site

 

[severnside gull]

I can never be bothered with all this changing money in advance nonsense.

I just use the cash machines at the local banks when I get there. There's generally only a small charge, if any, and in the grand scheme of things (cost of the holiday), it saves messing about and carrying large sums of money around. I just get it as and when I need it like I would at home.

for the sums involved this is my policy too - all the convenience and in relative terms it only costs pennies

 

[happypig]

Last few times I've been the cheapest for me was to get it from Marks and Spencer (I never even knew they had a foreign exchange desk as it's hidden by the knickers and bras)

 

[The Andy Naylor Fan Club]

Last few times I've been the cheapest for me was to get it from Marks and Spencer (I never even knew they had a foreign exchange desk as it's hidden by the knickers and bras)

Then if it was hidden how did you find it? Did you get lost in the lingerie dept?

 

[Simster]

I can never be bothered with all this changing money in advance nonsense.

I just use the cash machines at the local banks when I get there. There's generally only a small charge, if any, and in the grand scheme of things (cost of the holiday), it saves messing about and carrying large sums of money around. I just get it as and when I need it like I would at home.

It's also the cheapest option usually. Visa negotiate the best exchange rates. I went to Budapest two weeks ago and got 3 or 4% better when using the cashpoint (even allowing for the £1.50 service charge) than what the post office gave me with my first £100 worth. (I always like to have a relatively small amount before I get into the country I'm visiting)

 

[Shropshire Seagull]

I'm off to Africa in April on my coaching trip.
1st stop is Uganda and apparently you can't obtain their currency outside of their country, so will have to be the cash point, first point of call.
I'm told they will accept USD but the rate may not be competitive.

 

[DavidinSouthampton]

I can never be bothered with all this changing money in advance nonsense.

I just use the cash machines at the local banks when I get there. There's generally only a small charge, if any, and in the grand scheme of things (cost of the holiday), it saves messing about and carrying large sums of money around. I just get it as and when I need it like I would at home.

Agreed, and I have read things in the past that seem to indicate this is the cheapest way of doing it. You just have to make sure you clear whatever card(s) you want to use with your bank or service provider for use abroad, otherwise they might (probably will?) be refused. They seem to be quite hot on this in my experience, which is reassuring.

 

[Hotchilidog]

I always get the cash when I reach my destination, I always seem to get a much better rate.