Going to Alcudia this Saturday and I have 500 euros left over from last year in Euro Travelers Cheques.I want to change some into Euros for the first couple of days,would I be best doing it here or over in Alcudia bearing in mind the rate or any commision I may have to pay.
Tony ... as you have already converted your cash into Euro Travellers Cheques, the rate of exchange won't really be relevent. If you can find someone locally who will encash some of those cheques with little or no commission, it may best to do so in advance so that you will have some cash on arrival for the first couple of days.
David
David
anyone know where the best exchange rate at the moment
off to Can pastilla next week and need advice on best way to get our Euro
normally get it from the bank or PO before i go but at the minute its only 1.39
am i better off taking sterling with me and exchanging over there ?
is there any exchange bureaus in Can Pastilla that are worth going to and what rate am i likely to get etc etc
already have some Euro left over from last time so probably looking at £500/£700 worth when i get there
would guess its like most things in life where its easy to get conned
already read some of the posts about it in here but would like some info relating to Can Pastilla
thanks
Paul
normally get it from the bank or PO before i go but at the minute its only 1.39
am i better off taking sterling with me and exchanging over there ?
is there any exchange bureaus in Can Pastilla that are worth going to and what rate am i likely to get etc etc
already have some Euro left over from last time so probably looking at £500/£700 worth when i get there
would guess its like most things in life where its easy to get conned
already read some of the posts about it in here but would like some info relating to Can Pastilla
thanks
Paul
hi in sillot you get commission taken of for both euro and sterling travel cheques the euro travel cheques they were taking 4% and sterling 2.5% and the ones advertising no comm were giving a smaller return if you can get a safe i would take all money in euros it is what i will do next year
We drew 400 euros from the minibank in Spain - just got statement and only charged 2 quid.
We used our Nationwide account. They are the only bank that won't charge you commission for using cash card abroad. Also, the rate we got was much better than changing travellers cheques or cash. I would suggest taking €50 with you, and then taking money out from the cash machines when required. Make sure you open a Nationwide account first though and deposit your spending money in there.
thanks for replies
someone else mentioned nationwide to me ,we are with Lloyds tsb at the min and they charge something like 2.75% to take out
you say you got a better rate ,how do you find out what rate they will give you when drawing out in abroad
someone else mentioned nationwide to me ,we are with Lloyds tsb at the min and they charge something like 2.75% to take out
you say you got a better rate ,how do you find out what rate they will give you when drawing out in abroad
The rate is never displayed on the machine at the time of taking out. However, we were there in June when the selling rate was €1.44 the whole week we were there. When we returned home and checked Nationwide statement for the 4 withdrawals we made, rates we had averaged out at €1.52 and no commission. We have also withdrawn money over the last year in Italy, France and USA - each time the rate has been considerably better than getting money out over the counter with cash or travellers cheques. What you need to get is a Nationwide Flex Account, you can apply on line and you don't need to keep any money in there when not in use, apply on http://www.nationwide.co.uk/banking/current-account/default.htm
And no, I don't work for the Nationwide!
And no, I don't work for the Nationwide!
I found Lloydstsb more expensive than Natwest and they offered a poorer rate of exchange.
I'm not sure there is a way to find out how much the rate is at the time it didn't say on the atm only on my statement when we got back.
The rate was either the same as we were getting or less by a few cents.
I don't have my details for Natwest but it was a % of the total amount rather than a set charge.
It cost 90p to take out the same amount of money (40E) and the rate was about 1.46.
I'd see if you've got time to get a Nationwide account!
I'm going to
I'm not sure there is a way to find out how much the rate is at the time it didn't say on the atm only on my statement when we got back.
The rate was either the same as we were getting or less by a few cents.
ATM 0063 BANCA MAR
ES 40.00 XR 1.41343 = 28.30
CASH CHARGE 1.50
I don't have my details for Natwest but it was a % of the total amount rather than a set charge.
It cost 90p to take out the same amount of money (40E) and the rate was about 1.46.
I'd see if you've got time to get a Nationwide account!
I'm going to
Lincoln Imp - If you haven't already set off for Mallorca, there is a very friendly exchange place right in the centre of Can Pastilla - just opposite the main square at the Hotel Balear. Family owned hotel, I changed english notes there the other day and got 1.43 to the pound, and no commission !!!
We were in Cala Millor and it was €1.40 to £1 in most places tho' we were finding towards latter part pf last week that it had gone up slightly to €1.41 with No commission.
Would have thought due to close proximity that you'll be looking at a similar if not identical exchange rate in Sa Coma.
Would have thought due to close proximity that you'll be looking at a similar if not identical exchange rate in Sa Coma.
Don't know if this helps but I have just got an exchange rate of nearly 1.42 euro's at the Post Office.
I found that Marks and Spencer were offering a fraction more - but as I had cash and wanted them straight away the P.O. was better, (have to order and have proof of I.D. at Marksies)
I found that Marks and Spencer were offering a fraction more - but as I had cash and wanted them straight away the P.O. was better, (have to order and have proof of I.D. at Marksies)
Rate for last couple of days has been 1.44 - no commission at Delta Car Hire in Magalluf.
Hope this helps
Adam
PS We've just had an enormous storm - it's a little damp
Hope this helps
Adam
PS We've just had an enormous storm - it's a little damp
We're going to Majorca this week and wondered whats best for cash.
Travelex are offering best rate , order on internet collect at airport of 1.4261 with no commission.
We are also thinking of taking Maestro cards - can anybody advise whether the banks in Majorca charge for the use of UK cards and also if anyone knows if Yorkshire Bank or HSBC make a charge using their cards abroad.
Thanks,
Travelex are offering best rate , order on internet collect at airport of 1.4261 with no commission.
We are also thinking of taking Maestro cards - can anybody advise whether the banks in Majorca charge for the use of UK cards and also if anyone knows if Yorkshire Bank or HSBC make a charge using their cards abroad.
Thanks,
The last time I used my HSBC card in a overseas ATMs there was a charge, it was a long time ago but I believe it was around 1.5% - with a minimum charge of £1.50. I can't see them or any other high street bank adopting the Nationwide BS view of applying no charges.
The charge is taken from your UK account but paid to the local 'overseas' bank by your UK bank.
Slightly off topic - If you use your HSBC card in a say, a UK Nat West ATM, Nat West will charge HSBC for your transaction, it used to be around 60p (don't quote me !) - that's why your Bank wants you to use their own ATMs.
The charge is taken from your UK account but paid to the local 'overseas' bank by your UK bank.
Slightly off topic - If you use your HSBC card in a say, a UK Nat West ATM, Nat West will charge HSBC for your transaction, it used to be around 60p (don't quote me !) - that's why your Bank wants you to use their own ATMs.
-
Edited by
TFS1
2005-08-23 21:02:15
I dont think the Yorkshire Bank make a charge - and you can use them in the maestro machines now.
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