Euro Exchange Rate Nationwide

[alan]

Hi Folks

Anybody in mainland Europe at present, Sunday Times is reporting an exchange rate of E1.20, although the Post Office is reporting much less than that. We are undecided whether to buy now for our holiday later in the year - what is Nationwide exchange rate at present? Thanks in anticipation.

Alan

[nowtelse2do]

alan - 2010-06-13 5:14 PM Hi Folks Anybody in mainland Europe at present, Sunday Times is reporting an exchange rate of E1.20, although the Post Office is reporting much less than that. We are undecided whether to buy now for our holiday later in the year - what is Nationwide exchange rate at present? Thanks in anticipation. Alan

If you bank with Nationwide and have a debit/credit card and use cash machines in EEC, then you get whatever the euro is at the time.

Dave 

[Guest JudgeMental]

Yes nationwide is the best.......We got back early from whalf term last week, due to the awful weather, and rate tracked commercial rate. So at beginning of week it was 1.17 and ended 1.19 so would expect 1.20 now.

[BGD]

Be careful about the rates that you see on the news; usually the rate quoted is in fact the "wholesale mid-market rate", ie the rate for moving millions of pounds/euros, and is the mid-point between bid and offer.

 

It is not the offer rate to Joe Bloggs as a retail punter at any high street bank etc when he wants to change a few hundred quid into euros or vice versa.

 

The other point to watch is whether or not the entity you get an exchange quote from charges commission; and also, if the transfer is (say) electronic from one account into another, whether they charge a transfer fee too.

 

 

 

Having said all that though, the likely difference between going to "X" bank and "Y" bank for a simple cash exchange of a few hundred quid is probably gonna be measure in pennies; maybe a quid or two at most.

 

 

[Andy_C]

The Visa calculator at: http://www2.visaeurope.com/fxcalculator/main.jsp will give you the exchange rate for transactions through the Visa system, which covers the majority of credit and debit cards. There is the option to factor in the conversion fee charged by cards issuers.

 

Andy

[Stuwsmith]

On 10th June we bought some fuel at Calais with our Nationwide credit card. The transaction was converted at 1.20967741 eoros to the pound. Hope this helps. In my experience just use the card!

[chris]

The times advises to buy euros now so I am monitoring it tomorrow and this week and have my money ready to exchange at the drop of a hat. They predict we will get less next month.

Chris

[alan]

Hi Folks - thanks for all your replies, it's useful to get a broad spectrum of opinion. Chris - it was the article in the Sunday Times that sent me off looking at exchange rates. I've perused the high street today (Monday), the banks, travel agents and post office are all offering around about E1.13, although Nationwide offered E1.16. In the past, I've always waited until I've got the mainland Europe and used by Nationwide Debit Card and have always got very good rates. As Bruce says, in the end by buying early the most we are going to make is a couple of quid.

Thanks again,

Alan

 

[chris]

Hi Alan

Look at this website. I get my euros from here and their rate was 1.164 today. Cash of course.

 

http://www.no1currency.com/bureau-de-change/

 

and looks like it is moving up from this morning. Probably get mine tomorrow now

Chris

 

[AliB]

Try http://www.crowncurrencyexchange.com/

[ROND]

Nationwide is unbeatable around Europe in my opinion, 4 weeks ago in Holland i drew out 250 euros from my TSB acount, the wife took out 250 euros from our Nationwide acount the difference in cost was the TSB WAS £9.88 MORE EXPENSIVE yes thats right £9.98, the difference was made up by a much poorer exchange rate plus commision of about £3.50 on top.

 

The only draback with both cards in Holland was that neither the supermarkets or the garages would accept either card so we had too pay with cash, we have never ever had that problem in any other country.

 

RD

[peterandlinda]

Hi

 

We have Nationwide Visa debit and credit cards. We use the debit card as the 'default' and often when the debit card is not accepted, they will accept the credit card. We have an arrangement to pay off any credit card balance at the end of each month.

 

In Germany, and less so in the Netherlands, cash is very much king and it is unusual for people to use plastic. We tend to follow local custom and use the debit card to get cash from a machine, often in the supermarket entrance. If you have to pay by (a foreign) card they will ask to see your passport.

 

P&L

[Tony Jones]

We had the same experience in Germany last summer - not only would the (private) Stellplatz on the outskirts of Berlin not take plastic, neither would a pretty big supermarket nearby!

Once we were in Poland, no problem with plastic - anywhere!

 

I echo what others have said about Nationwide. We've used them for years as our "holiday bank" for this very reason, and their rates have always been good.

[chris]

Well I have done it. Cashed my money today and got 1.172. Looked at the bbc web and it showed a drop expected in the Euro at end of today so I decided to cash in. Whatever it is in a couple of weeks I at least have had a lot more Euros than I did this time last year .

 

Happy hols

Chris

[warnersgroupie]

I like cash transactions and take a bundle of Stirling with me on the Dover Calais Xing. When we sight the homecoming Brits I hang a sign round my neck (it says "If you have any Euros you want to exchange, I'll give you the mid rate , which on the boat coming over was €x.xx to the £")

 

I calculate the mid rate as the difference between the buy and sell rate, and

I've swapped about £16k like this in the last few years.

[lennyhb]

In Belgium a week ago 5/6th June I got 1.205 on cash ATM withdraw on Nationwide. In Ireland at the moment drew out cash today don't know yet what rate.

 

 

[catinou]

We have just got back from France and tried a post office Visa Electron card for the first time. We pre-loaded just 200 euros as we were not sure how many places would accept it - 4 toll booths didn't one did, fuel stations all take the card at the pay booths but not at the pumps. It seems a good way to "grab" the euros at a good rate (when you re-load you get the travellers cheque rate) and saves having to carry lots of cash for a prolonged trip. - You can draw up to £500 at a time from any ATM displaying the Visa sign, charge is no more than 2.5 euros when using a cashpoint and nothing for using at a till, so no hidden charges - tried it once and it worked, so will certainly use again... :-D

[Guest JudgeMental]

But the rate you pre bought your euros at would be worse then the rate since.... *-) Nationwide every time :-D

[catinou]

Depends what rate you buy at and when you spend them Eddie ;-)

[Guest JudgeMental]

catinou - 2010-06-16 2:37 PM

 

Depends what rate you buy at and when you spend them Eddie ;-)

 

How did you get on with auto tolls? class 2 or 3? :-D

[mike 202]

AliB,

 

We also use crown currency and got 1.2096 for August delivery.

 

We also use Nationwide, so get the best of both worlds.

 

mike

[Brian Kirby]

AliB - 2010-06-14 7:26 PM Try http://www.crowncurrencyexchange.com/ 

This company operates from a private address in the Channel Islands, and has some adverse reports.  Try googling the name, and read on, before spending too much to buy your currency.

[catinou]

JudgeMental - 2010-06-16 3:49 PM

 

catinou - 2010-06-16 2:37 PM

 

Depends what rate you buy at and when you spend them Eddie ;-)

 

How did you get on with auto tolls? class 2 or 3? :-D

 

Class 2 - will be interested to see what the 9" difference will be when air con is added in a couple of weeks though. *-)

[AliB]

Brian Kirby - 2010-06-16 6:24 PM

AliB - 2010-06-14 7:26 PM Try http://www.crowncurrencyexchange.com/ 

This company operates from a private address in the Channel Islands, and has some adverse reports.  Try googling the name, and read on, before spending too much to buy your currency.

Brian, I cannot find reference to this company in the Channel Islands. Their website address is in Cornwall which checks out with Companies House and the FSA.I can find reviews, some good, some with concerns over forward buying over a long time frame but mostly good. Please point us to the Channel Islands address. Thanks

[Brian Kirby]

AliB - 2010-06-17 3:20 PM

Brian Kirby - 2010-06-16 6:24 PM

AliB - 2010-06-14 7:26 PM Try http://www.crowncurrencyexchange.com/ 

This company operates from a private address in the Channel Islands, and has some adverse reports.  Try googling the name, and read on, before spending too much to buy your currency.

Brian, I cannot find reference to this company in the Channel Islands. Their website address is in Cornwall which checks out with Companies House and the FSA. I can find reviews, some good, some with concerns over forward buying over a long time frame but mostly good. Please point us to the Channel Islands address. Thanks

My apologies, it is Cornwall, not Channel Islands.  I checked them out a couple of years back, along with a few others, and I think I have them crossed with another outfit.  The concern about Crown, was that there was said to be no separation of client monies from other monies, so any failure of the company could result in loss of your dosh.  As you say, they are in Cornwall, in fact in Hayle.  Picture of John Harvey House attached.