Pounds to �uros !

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Pounds to �uros !

Postby Always Baking » 30 Aug 2013, 11:17

Just wondered what kind of exchange rate to expect , and where best to change my pounds to �uros ? (Post Office ?)
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Postby Andy W » 30 Aug 2013, 12:26

All sorts of options. Depending on your bank or Building Society you may have fee-free withdrawals from ATM cash machines abroad. Personally I use a pre-paid visa card which I transfer money to from my bank account before I leave and use to withdraw cash from machines on Rhodes (the first one you'll meet is in the baggage reclaim area at Rhodes Airport). The rate is usually better than you can get otherwise, allowing for commission etc.
is my card supplier. Other companies also do them.

Symi has 3 ATM machines and as they're all part of bank branches they are usually topped up and in working order.

The main thing is to avoid Travellers Cheques which are very bad value in the Eurozone because of the fees associated with both issuing and cashing them.
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Postby Kojak » 30 Aug 2013, 13:15

I pay no commission on euros from my bank but probably don't get as good a rate as elsewhere. It's like trying to find a cheap rail fare! I just take euros with me and top up at an ATM on Symi.
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Postby Always Baking » 30 Aug 2013, 13:54

Thnx Andy and Kojak. A travel agents this morning was 1.13(pounds into �euros) Knowing my luck, l'll leave it to the last minute, and it'll be the worst rate for a month!
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Postby Andy W » 30 Aug 2013, 15:14

Comments I've read elsewhere suggest this is the current rate in Rhodes today too. Can't see why branches of the same bank would charge any different in Symi to Rhodes, so unless the UK charge or the Greek charge needs commission adding there doesn't seem anything in it.
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Postby happyashellas » 30 Aug 2013, 15:19

Todays rate was 1.17 although this will vary depending where you buy. Taken from exchange forecast today is this:

On Wednesday, Europe releases key data, including their most recent Gross Domestic Product figures and their Retails Sales figures for August. Both are expected to show an improvement, and if confirmed will probably make the euro more expensive to buy, potentially by as much as 1 � cents. As a result, it may be worth buying euros beforehand to avoid disappointment, and to take advantage of these current levels , standing at a near 2 month high. - See more at:

Looks like things may go down a bit, but then again, what do I know?
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Postby Andy W » 30 Aug 2013, 15:51

I think 1.17 is the interbank rate, the best I can find on-line from the UK end for retail customers like us Symi visitors is 1.145.
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Postby JeanW » 30 Aug 2013, 15:52

1.13 euros to �1 at Tescos this morning with an extra �5 worth of euros if you buy �500 or more. 1.1350 at Sainsburys providing you have a nector card. Both stores do not charge commission and will exchange �'s for euros or alternatively top up your Travelex Cash Passport with euros which I prefer to use as I don't like to carry lots of euros - I then withdraw euros as and when I need them from the ATM's around the harbour.
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Postby Always Baking » 30 Aug 2013, 21:47

Thnx Jean, l'm sure Travel Ex Cash Passport is what l fancy. l'm struggling to find out how to do it, l'm away on Thurs, so no time for something to be posted. lt doesnt seem clear where l can go and get one !
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Postby JeanW » 30 Aug 2013, 22:37

I got mine from a large Tesco's where they have a travel exchange bureau, I used my debit card and took my passport for ID and it was issued immediately - whenever I top up, I always take my passport with me. Sainsburys also issue them and I am sure other stores will.
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Postby Gemma1 » 31 Aug 2013, 09:03

As I'm going to Halki this year (where there's only one ATM that hasn't been working for most of the summer) I'm taking all euros this year. I got the last lot a week or so ago from a local travel agency and the rate was 1.14, it's always better there than our post office.

My preference on Symi is to take some euros and use the ATMs to top up, like Kojak. I use my Halifax Clarity credit card which doesn't charge for withdrawals and usually gets a good exchange rate.
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Postby maziemoo » 31 Aug 2013, 10:47

the travel agency in my local Cooperative always gives me a slightly better rate as a member with no commission fee attached.
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Postby Jan » 31 Aug 2013, 16:07

So much depends on how much money you want to change and also whether or not you live close to London.

If you want to change a large amount (maybe you have rent to pay to a private landlord) you'll get a better rate - in general - than if you're just changing a few pounds to get you started. And if you live close to London there are exchanges which give a good deal on collection. Combine the amount and the location and you can, on our recent experience, get a rate of say 1.16 rather than 1.12 in your local Marks and Spencer (other outlets are available).

It may seem obvious, but never use your 'ordinary' credit card to withdraw cash unless you have no alternative as you'll pay interest from the date of withdrawal and probably won't get a brilliant rate of exchange either.

is a good place to see what rates are available at any given time.

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Postby Always Baking » 31 Aug 2013, 18:05

Hi Jan, Thanks for your advise, but l dont understand the 'private landord' bit...l am waiting until Monday, when The Post Office have a 'Mon-Wed Offer' on with their pre load card. l couldnt find any of my local big supermarkets that were 'travel Bureau's'. The Post office can only say, the Offer Rate Will Be Significantly Higher Than Normal' So l'll know on Monday. (Thought l'd change 500pounds) Todays normal rate (pre the offer) was 570 �uro's for 500 pounds !(havnt a clue if that's reasonable or not )
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Postby JeanW » 31 Aug 2013, 18:33

Hi AB, I understand the private landlord is booking independently of a travel company ie Olympic, This year I have booked privately with a Greek family who I know after years of travelling to Symi. Therefore I will have to pay for my accommodation when I arrive on Symi. Hence the reason I need to have access to funds on my travlex card. I am surprised your local supermarkets could not help you as I have no problems here in Surrey or when I go to my lovely branch of Manchester Tescos.
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Postby Always Baking » 31 Aug 2013, 18:53

Thnx Jean, l wont give up 'Travel ex Cash Passport', as it seems to be rated the highest out of getting it 'instantly'(no time to send off for a card) l'll google it again for my area. l'm a complete div over this..and you lot are all so Currency Savvy ! Even though l lived for 16 yrs in Spain, l never had to change anything, l earned �uro's and spent �uro's !! lol
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Postby Always Baking » 31 Aug 2013, 18:56

..And Jean, how cool is that, staying with a Greek Family! When are you there ?
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Postby JeanW » 31 Aug 2013, 19:19

18th Sept - 16th Oct I am staying at the Nikolitsi family studio they have a home in Harani and their next door property is converted into 2 studios on ground level and an appartment upstairs.
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Postby D and E » 01 Sep 2013, 08:30

Based on a post some time ago we took AndyW's advice and signed up for Caxton and find that an excellent way of managing our Euro needs - seldom do we see their online exchange rate being beat; there are no charges or commission; anyone with a UK bank debit card can use the simple online load; the card is Visa and can be used to pay for Euro transactions online or use your Caxton account for free transfer to Euro accounts (useful for accommodation deposits); using WiFi on Symi let's you manage your Caxton account; as a Visa card it can be used to pay for things with Chip and Pin although we prefer to pay for things on Symi in cash. All in all an excellent facility.
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Postby maziemoo » 01 Sep 2013, 10:21

[quote="JeanW"]

18th Sept - 16th Oct I am staying at the Nikolitsi family studio they have a home in Harani and their next door property is converted into 2 studios on ground level and an appartment upstairs.
[/quote]

wow Jean a whole month you lucky lady, have yourself a wonderful time 8-) 8-)
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