Hughmer Posted October 2, 2007 Share Posted October 2, 2007 Waiting to board at Calais last week, I saw an English A class come off the ferry and pull up near our line. The driver walked to the front of our queue and spoke to each caravan & motorhome driver in front of me. When he got to my window he said, "If you've got any spare Euros, I'd like to buy them" I was a bit taken aback as I didn't know this guy and am always a bit cautious when dealing with money & strangers, but it was the middle of the day and I didn't feel under any threat. I was also very interested in avoiding commission and spread charges and the idea appealed to me. We had €150 that we were intending to exchange in the UK. I knew I'd be selling at €1.52 (nett £98.68) so I asked the guy what rate he proposed. He said he'd leave me to decide a fair rate and I said I'd expect 67p/€ We worked this out at £100.50 He gave me 5 £20 notes and I said not to bother about the odd 50p. We said goodbye and he wandered back to his truck. A few minutes later he came back and said the mid rate that day was about €1.47 apologised for short changing me and and gave me another £2 !! I was happy with the first deal, so the extra £2 was a bonus. I thought the whole thing worked out well for both of us. The notes were genuine (don't worry, I did check and I've since spent them) I was £4 up on what I was expecting and he was about the same since he'd have been buying at €1.41 or less, (about £106.40 for €150) So what do the doom mongers make of this? Presumably we've broken some law or other? But the next time I come off the ferry, I'll seriously consider doing the same thing. Link to comment Share on other sites More sharing options...
Tomo3090 Posted October 2, 2007 Share Posted October 2, 2007 Even as we type "THEY" are tracking you down!! Just be careful when they put on the rubber gloves (lol) Link to comment Share on other sites More sharing options...
michele Posted October 2, 2007 Share Posted October 2, 2007 Good for you we always save ours because we are back & forth so there is no point for us. Link to comment Share on other sites More sharing options...
Mel E Posted October 2, 2007 Share Posted October 2, 2007 If the guy spent all day doing this, he'd launder a whole lot of money without costing the usual 30% to 50% of the amount laundered. Clever, ain't it? Mel E ==== Link to comment Share on other sites More sharing options...
Hughmer Posted October 2, 2007 Author Share Posted October 2, 2007 Never thought of an A class as a laundry van. Link to comment Share on other sites More sharing options...
mtdloft Posted October 2, 2007 Share Posted October 2, 2007 Mel E - If the guy spent all day doing this, he'd launder a whole lot of money ====If he spent all day getting off the ferry and parking up, walking down a line of campers and then (presumably getting back on the ferry so's he could do it again) I don't think he would. Sounds like a pretty innocent - and enterprising arrangement to me. Good luck to those involved. Nil bankers carborundum as they say in Pentonville Link to comment Share on other sites More sharing options...
johnsandywhite Posted October 2, 2007 Share Posted October 2, 2007 8-) We were approached by a UK Truck driver when we were half way through France travelling back to the UK. He asked if we would swap 20 Euros for a £20 note. I said sorry we don't have any Euros. *-) Link to comment Share on other sites More sharing options...
crinklystarfish Posted October 2, 2007 Share Posted October 2, 2007 Shouldn't we insular Brits all just be using Euros by now? Link to comment Share on other sites More sharing options...
BGD Posted October 2, 2007 Share Posted October 2, 2007 crinklystarfish - 2007-10-02 6:14 PM Shouldn't we insular Brits all just be using Euros by now? CS - I agree wholeheartedly. It's LONG overdue! I really don't care who's head and what picture is on the notes, just so long as they buy stuff in the places where you spand them - and transferring to euros would save massive amounts of costs for British Companies, and simplify life enormously. I honestly cannot understand the purely emotional reluctance of many Brits to adopt the euro. It is illogical, and it's costing Britain dear in terms of European comptitiveness. Incidentally, whenever we have friends/relatives coming over to us here in Spain, who want euros to spend whilst here, they pay pounds into our UK bank account, and we give them euros in cash when they arrive. We give 1.5 euros per pound - and both parties win. Helps us to keep a "float" of pounds in the UK, and is a better rate than if we moved euros from our Spanish bank to pounds in our UK account; and it helps them as it's a better rate than they'd get from their bank there. (Of course we don't really do this Mr Taxman, I'm just giving people here a theoretical example of how people might trade pounds for euros informally). Cheers, Bruce. Link to comment Share on other sites More sharing options...
Hughmer Posted October 3, 2007 Author Share Posted October 3, 2007 BGD - and transferring to euros would save massive amounts of costs for British Companies, Not the way I did it Ho ho PS If I'd been john & Sandy White, I think I'd have checked the note and if it was good, - made a trip to the ATM and got a €20 note. You don't get gift horses in the bush laying golden eggs in the broth like that very often. Link to comment Share on other sites More sharing options...
Mel E Posted October 3, 2007 Share Posted October 3, 2007 BGD, I fear it isn't as simple as that (remember the ERM debacle, pre-Euro?). Like it or not, the Pound Sterling is a reserve currency - more so since the US$ hit bad times - and it's independence from the Euro and European Central Bank is a key reason why our economy has grown, and especially for the success of the City, which has been a big part of that growth. I have always been pro-Europe and still am - but the current Franco-German model, lacking any elected representatives who run things, leaves me cold. And, by the way, the Euro is now in dire straights. The German ecomony is doing well again and growing fast - they need higher Central Bank interest rates to hold down inflation, which has, since the Thirties, been a key driver of German economic policy and which is already rising in Germany as growth accelerates. The French, Italians and Spanish need lower interest rates to boost their flagging economies - in the case of the Italians, an economy that is in free-fall. But the Central Bank can't move both ways, so France is ignoring the rules on deficit financing (i.e., increasing the National Debt) which inevitably will lead to more tensions in the system. IN SUMMARY, you cannot have a single, multi-country currency with interest rates controlled by one Central Bank unless the rest of their economies are moving in harness. AND THEY'RE NOT! They have different tax rates, different social support policies, spend different amounts of GDP on public services, and operate different levels of National protectionism. The Euro is doomed to fail! Mel E ==== Link to comment Share on other sites More sharing options...
Hughmer Posted October 3, 2007 Author Share Posted October 3, 2007 Mel E - The Euro is doomed to fail! ==== Not for a while yet I think! But I still think its worth ditching un-spendable currency if you can get a good rate and avoid commission. When I started this thread, I expected someone to tell me only official money changers were authorised to change currency. But that hasn't happened, - yet. I am interested to know if YOU would do what I did if approached by a stranger bearing £20 notes! ('cos as I said above, - it might be me next time) OR whether you might even ask a stranger if they're willing to exchange currency? By stranger, I'm referring only to other motorcaravanners waiting in a ferry queue. What say you? Link to comment Share on other sites More sharing options...
BGD Posted October 3, 2007 Share Posted October 3, 2007 Hughmer - In answer to your question: if the exchange rate we agreed was good, I'd swop them in a moment. Every time. Viva free enterprise. Link to comment Share on other sites More sharing options...
Machloop Posted October 3, 2007 Share Posted October 3, 2007 I am interested to know if YOU would do what I did if approached by a stranger bearing £20 notes! ('cos as I said above, - it might be me next time) OR whether you might even ask a stranger if they're willing to exchange currency? By stranger, I'm referring only to other motorcaravanners waiting in a ferry queue. I certainly would. It is a great way to exchange your money - and no commission. Link to comment Share on other sites More sharing options...
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