Does anyone know Euro exchange rate in Spain?

Discussion in 'Continental Touring' started by Teasy2007, Apr 10, 2010.

  1. Teasy2007

    Teasy2007 Funster

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    Hi, the best rate I can find in UK is 1.1115 at Post office, can anyone tell me what the rate in Spain is at the moment??

    Ginny
     
  2. Geo

    Geo Trader - Funster

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    By far the best rates are obtained by using such as a Nationwide Flexi account,(there may be others ) load up your debit card in £s here in the UK
    then any and all withdrawal's made abroad are charge free and your given the best daily interbank exchange rate a lot better than any exchange bureau:thumb: and of course your debit card is debited in £s Sterling
    Geo
     
  3. scotjimland

    scotjimland Funster Life Member

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    Hi Ginny

    I may be wrong, but I thought the exchange rate was the same no matter where you exchanged, the difference will be in the charges leveled by the bank or money shop.

    from a Travel in Spain site

    Spanish Banks - If you have cash to exchange check the street Cambio (money exchange) vender fees and then try a Spanish Bank. You will be hit by currency exchange fees at a Spanish bank but, in my case, the clerks always seem to feel so bad at charging so much for the exchange. Historically Spanish bank exchange fees have been less than the street, money exchange shops.
     
  4. Douglas

    Douglas Read Only Funster

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    At this moment, Sat 10th April 10:17 It is £0.87 to the Euro or E1.15 to the pound.

    As above Nation wide give a good deal in that they do not add a commission but if the issuing bank charge a commission they will pass that on to you. We have found that very few banks in France, Spain and Portugal charge for cash withdrawals.

    You can use a debit to draw out cash and a credit card to pay a bill, don't draw cash on a credit card as you will pay interest on it.

    Doug...
     
  5. dave jm

    dave jm Read Only Funster

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    Exactly as Goe has pointed out and by far the safest method for money abroad...if you want to take cash (unwise) then exchange at Tobacos shops..stay away from exchange kiosks showing high rates>>>Small print at back of kiosks says 3/5k only<<
    i.e IT'S A CON:Doh:...use Nationwide debit card:thumb:
     
  6. chatter

    chatter Read Only Funster

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    at the moment the rate is around €1.08/09 to the pound in spain so the postoffice rate looks good, info obtained from sister that lives and has a business over there
     
  7. Sundowners

    Sundowners Funster Life Member

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    I have been told that £ rate drops before an election---a bit of a gamble--I would wait until after the election.
    Nigel
     
  8. Jackomet

    Jackomet Funster

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    Just ATM'd (2 hours ago) €300 on my Nationwide card here in Almeria at 1.1007.
    JK
     
  9. lebesset

    lebesset Read Only Funster

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    well the mid price in the money markets then was 1.14003 , so nationwide was taking 3.5 %

    personally I won't pay more than 1% plus a maximum of 0.25% in electronic transfer fees

    just had a look at crown currency exchange and they are offering 1.1341 , so about 0.5 % and no electronic transfer fees I understand [ I don't carry cash ] ; hence I am looking at them

    anyone who travels regularly in the eurozone might like my method

    french current account , opened as expatriate to a uk address [ passport required !]
    french livretA savings account , maximum holding €15,300 because it is tax and fee free , rate government controlled , currently 1.5%

    of course , if you find a free card you save from the first euro


    total costs , about £30 pa because you have to pay for your debit card .. there are now probably banks offering better than that but I am well set up where I am and it wouldn't be worth it for me to change
    you can change money from the savings account to your current account by phone , or letter , or visit the bank

    with this card you can withdraw your money without charge [ by EU law ] anywhere in the eurozone ; I calculate that if you spend more than £1,000 pa in euro's each year you are in profit if you find the interest rate competitive ...it was 4.5 % 4 months ago but......
     
  10. Teasy2007

    Teasy2007 Funster

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    We set off for Spain in the morning, so I had to buy Euros for tolls today! I went to the post office, asked what the rate was - just to check - and was told it was 1.07 what a cheak! so I went to another exchange and managed 1.10.

    We will keep in touch and hope to see some of you Funsters in Santa Suzanna.

    Ginny and Mike
     
  11. talby

    talby Read Only Funster

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    Hi,

    Google Caxton fx. I use there Euro card.
     
  12. alan

    alan Read Only Funster

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    exchange rate

    As funsters above have stated Nationwide debit cards are the best option but when using a ATM machine in spain it asks iff you want to be charged in english pounds and you have to press the no button or you get the spanish banks rate which usually is'nt as high hope this helps
    AlanI
     
  13. oldun

    oldun Read Only Funster

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    Remember that the business rate is often quite different to the tourist rate.

    Banks may be using the (better) business rate as well as not charging commission etc.

    I have found that the best rate is not always offered by the same dealer - you must shop around.
     
  14. oldun

    oldun Read Only Funster

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    I believe this advice to be true wherever you are.

    Always use the local currency never opt to take Sterling
     
  15. yorkshirepudding

    yorkshirepudding Read Only Funster

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    I always use my credit cards at toll booths. The only drawback I've found is when I drive off before the other half has retrieved the card :Doh::Doh::Doh:.

    She has 'til the 8th May to improve her reactions.
     
  16. dshague

    dshague Funster

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    did you forget to look in tesco mike .they are usually the best exchange rate ,plus your points .:Doh:
     
  17. keith

    keith Funster

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    I always understood that credit cards make a charge if used abroad.I would be interested to hear of one that doesn't make a charge on any transactions made outside the UK.
     
  18. Wintonian

    Wintonian Read Only Funster

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    Both VISA and MasterCard make surcharges on all transactions outside the country of issue. Usually 2.75%, I believe.

    The exchange rate varies between issuing bank card companies. The exchange rate for the Euro is the same, of course, in the FX markets, whatever country you are talking about - Spain, France, Greece, Cyprus, etc... Different banks and Bureaux de Change set their own rates. The difference between one and another may be just a few cents.

    If you are changing, say, £200, and one rate is given as 1.10 and another 1.12 then there will be a difference of 4 Euro. Will this ruin your holiday? I suppose a couple of coffees will be foregone.:Smile:
     
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