They have been doing this "scam" for years now.

I used to work for FC (not in the bureau I may add) and the policy was to charge the customer without telling them.

What is worse is one of the cashiers charged it for a wee old lady who was buying a 20 Australian dollar note to send to her grandson for his birthday. Absolutely appalling. Sad thing is though, the staff would be questioned for EVERY transaction where they did not add the buy back gaurantee. They were very heavily targetted for it.

I even got stung myself after I left, and that is with a cashier who I knew very well!! She sneaked it on without saying. I was only wanting 100 euros for my rail travel when I arrived in Switzerland. Fortunately I spotted it before I left the shop and got her to reverse it.

Its an absolute disgrace that they are allowed to get away with this.

Needless to say I now only use a Nationwide Debit Card as they have much better rates, you don't have to queue to get your money before you go, you don't have to worry about carrying your money around with you, you do not have to pay it back in when you return. You simply withdraw it as and when you need it when you are abroad. Nationwide do not charge (unlike other banks) for this service.

If everyone who has read this thread told 5 people (or more) what is going on, maybe this would stop. Vote with your feet, shop around and make these c.o.n artists know that we wont stand for it.

Nationwide seem to be the place to be

Power to the people of HT

Very true Neil - once bitten and all that! I will certainly be warning all family and friends NOT to exchange currency at travel shops (I reckon, they all do it)
The story of the old lady and the 20 Australian dollar bill takes the biscuit!!!
Denny

We supposedly get commission free currency with our joint bank account with RBS but got stung by them. Crap exchange rate and late in delivering them 4 or 5 times. Now I use M&S for my main currency to get me there sort of thing and nationwide card for the rest.

I have found Crown Currency Exchange give the best rates - they do not charge any commision or delivery (even though they send the currency by Special Delivery) and the money turns up when they say it will. Got $1.99 to the £ for delivery in November so that is looking like a pretty good deal now!!! Have to say thanks to Luci the Moderator for recommending it

Suzy

You're welcome Suzy. Looks like you made a good decision to go with them with the rates now falling. They are excellent for forward purchase if you know you are going in a few months time.

For current High Street rates check http://www.comparetravelmoney.co.uk

I would recommend anyone that has been stung by Thomson's on the Buy Back fee without being told about it to a) go back and demand a refund of the £3.50 and b) advise Trading Standards as this is very sharp practise.

luci

I phoned Thomsons and when I went into the shop they had my £3.50 ready for me, didn't even need to ask for it. I guess they didn't want me making a scene. Will also call trading standards as well

I work for first choice, and the buy back causes us many problems in different ways.
We have a sign up saying its included in all transactions, and to please say if you dont want it.
There was one occasion where we hadnt included it automatically and a customer came back in and was very angry that it hadnt been included becuase they lost so much on the different rates you get when you bring back. The rates to bring back currency are different in every exchange bureau, and you always loose out on the rate. With the buy back included, you dont.
If there is the slightest chance you will be bringing back any currency, then the buy back is a great thing as it does save you money, theres no catch to it.
This is an example of what the buy back can save you:
100 euros at a rate of 1.19 =£84.04 plus the £3.50 buy back = £87.54
becuase of the different rates, if you were to bring back 100 euros, the rate is 1.56, so you only get back £63.72 a differnce/loss of £20.32
So if you came back with only 20 euros, with the buy back included you'd get £16.81 back, without it, £12.75 a saving of £4.06

However, if you know you won't be bringing anything back, then simply say its not required.

With regards to exchange rates, the rates that we get through are lower than some competitors, however we do price match, so if a better rate is seen elsewhere, then simply tell the cashier and they will match.

We dont charge commission on anything except sterling travellers cheques, which is a 3% charge. We can't add commission onto a transaction or anything like that. Everything else is commission free. We dont charge for using cards to pay for money, the amount you see on the chip and pin machine is the amount we charge. However, some banks do charge for using a visa debit card for purchasing money. I'm with TSB and have been charge before myself. its different with different banks. Some charge a % of the amount you have purchased, some are a flat fee. You just need to check with your bank if you will be charged for using a debit card to purchase money. My understanding is, if your card is a maestro switch type, then there are no charges, its only VISA debit that charge. And remember, its the banks charges, not ours.

I hope this answers some questions of how things work.

Whilst I can understand that people do not wish to have large sums tied up in foreign currency I do wonder why so many rush to change it back into sterling. In many cases they will be buying it again for the next holiday.

Any money we bring back is simply put away for the next time. We also ensure that the sums involved are reasonable. In Cyprus a couple of years ago at duty free I realised I had spent a little more than intended but they were quite happy to accept a mix of euros and sterling as well.

We are off again in five weeks and will be spending euros from our holiday in May when we spent those left over from February. We also find it useful when the grandkids are going away as we can give them some pocket money in the currency they will be useing.

One other way to consider is sell it to your friends - I have done so in the past - that way you both benefit.

fwh

I have discovered that we were charged this £3.50 too, when we bought some euros the other day from Thomsons.

The girl told us there was "buy-back" on the money...but she did NOT say it was costing us £3.50

Like fwh says...we usually keep any spare cash for the next holiday.

So I am not very pleased.

Hi all....different angle on same subject....I always phone round and get quote for exchange rates and any deals ie change over £500 and get a better rate...as I usually get well over this and so makes a big difference between what you get here and when away using travellers cheques...we go self catering usually, so use quite a lot of cash in first few days as usually find a supermarket and buy loads of drinks food ect for 2 weeks stay....dont like using my cards abroad except for paying for excurtions bought through the company I go with....
Last year I did usual phone round ....agreed with one travel agent on a rate of 1.20 euro to the £ ...and ordered it to be picked up a few hours later...was told it was being held for me...went later as planned to pick up...told girl I had phoned and ordered it ...paid by cash...was in a rush at time and having done this many times with same travel agent and had no problems...also like to get proccess over speedily as to not atract attention due to amount being changed...thats another reason I do deal over phone first...I just check the amount counted is what cashier says it should be... I didnt cheque receipt till later on way home as passenger in car.....when I realised they had given me 1.18 and not the 1.20 as agreed....not much differentence ...but as where I was going last year and when, I had been advised to take cash due to lack of atm's and facilities for cashin travellers cheques, I changed £1800 ....this was a difference of 36 euros.....put it down to a one off ....wont be caught out again....I think they get you bussiness rates over £500/600 if you ask for best deal and you dont pay a fee....under this you can only get tourist rates...which is what they gave me.
Just thought might be of interest