Pound Sterling weak to Euro - when best to buy Euro currency?

Question

Next month I will be flying to Spain and 2 months later to France for a few weeks. Now, I am unsure whether to buy the Euro currency in UK, or take my Debit card with me to withdraw cash on the continent, buy travellers cheques and cash them in abroad or even go to the Post Office and buy a bulk of cash for a special exchange rate. Any ideas or suggestions?

Answer 1

Use your debit card to draw cash in Spain. This is the cheapest way to buy Euros even if the pound continues to slide. Buying Euros or travellers cheques in the UK is a huge rip-off. (Now you know why the banks fund UKIP)



If you open a Flexaccount with Nationwide Building Society (you don't need to close your other accounts) you can draw cash from foreign ATMs with no commission and a commercial exchange rate.

Answer 2

Dont buy it here yet, the exchange rate is poor this month (1.263)



You were really best off to but it last febray!! lol (1.5139) But as you do nto have a tiem machine, wait to see if it goes up next month for the trip to france and spain, if not take the deb. card or travellers cheques in case it changes

Answer 3

Check this website and use the information to choose the best to suit your own situation - there's no one-fits-all answer: http://www.moneysavingexpert.com/cards/cheaper-spending-overseas



It's all about the cheapest way of spending over seas. According to this site, spending with a debit FROM SOME BANKS is good, but others levy high charges. Check the article. There are also other articles here that tell you the cheapest ways to do other things!



Additional: the answer above refers to the Nationwide Flex account, which is one of the recommended ways on that site!



Have a good holiday, and happy money saving!

Answer 4

I would buy some today if I were you, what with the house price crash on the news thing. All bad news it seems, BUT it will give you a bit of a holiday buzz!! Hold them in the cold and rain and imagine what you're going to buy.

Answer 5

about 15 months ago - sorry