goldi Posted December 5, 2019 Share Posted December 5, 2019 Good afternoon, Is it time to buy euros now that the pound has risen against the euro, or will the pound strengthen again. Link to comment Share on other sites More sharing options...
Caddies104 Posted December 5, 2019 Share Posted December 5, 2019 Hi At 1.18 seems great, but if we knew what would happen next week we would be be investment rich ;-) :-) ;-) :-) Link to comment Share on other sites More sharing options...
Steve928 Posted December 5, 2019 Share Posted December 5, 2019 I'm still spending Euros at 1.48 - we bought enough for a decade of motorhome holidays a few years ago. It'll be a shock to the system when they run out though, we're down to our last 10,000. I should have bought enough to finance the next van of course, but didn't. Link to comment Share on other sites More sharing options...
AndyLou Posted December 5, 2019 Share Posted December 5, 2019 What I would like to do is open a Euro bank account and put money in on a regular basis. This would have the advantage of levelling out currency fluctuations. Has anybody tried this? Link to comment Share on other sites More sharing options...
TeamRienza Posted December 5, 2019 Share Posted December 5, 2019 Andy&Lou - 2019-12-05 5:40 PM What I would like to do is open a Euro bank account and put money in on a regular basis. This would have the advantage of levelling out currency fluctuations. Has anybody tried this? Yes. I have a Starling Bank account (current account) you can open a euro account with them and load like a prepay card. I moved some cash last night from the sterling account to the euro account at €1.17 . They charge 40 pence per £100 to transfer and the account pays no interest. The one debit card is used for both currencies and you simply choose which one you want to pay with. If you wish to buy something at say €50 but only have €40 in the Euro account they can spend the 40 and take the rest from your sterling account at the MasterCard exchange rate of the day. One thing to keep in mind is as follows. I paid for a ferry about a week ago (irish ferries Dublin Cherbourg) in that instance it was more effective to pay using sterling (converted to euros at €1.16) rather than pay in euros since I would have had to pay the 40p per hundred on transfer to the euro account. The exchange rate was still €1.16. The plus side is that I have moved several hundred pounds in three transfers to the euro account to spread the risk, which is your plan also. I will use that when on the continent next year, unless the rate at the time is better. Davy Link to comment Share on other sites More sharing options...
slowdriver Posted December 5, 2019 Share Posted December 5, 2019 Andy&Lou - 2019-12-05 5:40 PM What I would like to do is open a Euro bank account and put money in on a regular basis. This would have the advantage of levelling out currency fluctuations. Has anybody tried this? I opened a TransferWise Account a year or so in anticipation of purchasing a van in Europe, plus for our European holidays. I have been drip feeding cash into it over the last 2 years at varying rates. The good news re TransferWise is that you get the mid-market rate (currently 1.1837), ie the rate you see quoted on Yahoo or the FT for the Euro/£, not the "adjusted" rate charged by all banks which normally is at least a couple of points worse than the mid market rate. So I can move £100 now at 1.1837 Eur/£ and for that I pay a single fee of 63p. For £1000 a fee of £3.95, and for £10,000 a fee of £37.12. Plus opening the account costs nothing, and you can have multiple currency accounts, Swiss Franc, US Dollar etc depending on your needs, again at no cost. In addition you can apply for a free debit/ATM (MasterCard) card which means when you take money out of an ATM in France your Euros come out, from your Euro account with no charges attached. Plus you can pay for meals etc and pay no exchange cost, again because the money comes out of your Euro account. So I no longer use anything else for my travels in Europe, The Halifax card recommended by Money Saving Expert which I previously used is now largely just for backup. Link to comment Share on other sites More sharing options...
Guest rael Posted December 10, 2019 Share Posted December 10, 2019 I also use TransferWise. This time last year I overbought Euros when I bought my PVC in Germany, so rather than convert back I opened a TransferWise account. I top it up over the year when I think the rate is ok. I also have a FairFX account but use this less these days as the rate is not as good as TransferWise. I've literally just transferred some funds and the rate was 1.18998. Link to comment Share on other sites More sharing options...
Clive_Adams Posted December 17, 2019 Share Posted December 17, 2019 another one for Transferwise, you get the Mid Bank Rate at the time of the transaction with a smallish fee. It stops the banks taking liberties in the Xrate (my bank its 5% dollar pounds) plus a foreign currancy transaction. I have dollars, pounds and Euro accounts, and when travelling to places like Switzerland convert some into Swiss Francs, it's so easy, and all transactions, acknowledgements, notifications etc in real time. Link to comment Share on other sites More sharing options...
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