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[Ohana]

I needed to get this off my chest. Had such a stressful afternoon today trying to buy Euros from a travel agent. I'm not going to Disney for 11 weeks yet but since the exchange rate has fallen recently I thought I'd get a bit of my money now in case it gets any worse!

So the rate was 1.30 where I went but upon counting it up on the journey home something seemed off and it turns out I got given the Euros at a rate of 1.18. Went back to enquire, as online the rate was confirmed as 1.30. I was told at the time I bought them the rate was 1.18 and in the quarter of an hour or so that it took me to realise something was awry, it had risen. I cursed my luck but then the most bizarre thing happened, the cashier gave me the difference in cash, allowing me to have my Euros on the 1.30 rate, which I was beyond thankful for!

Now I'm extremely naive having never travelled before, but my understanding would be that surely the rates don't fluctuate that drastically in a space of a few minutes. I'd it possible a mistake was made and I was just given my refund? I'm confused about this, and a but worried. I'll be annoyed if they do fluctuate that quickly because I don't want to be in that situation again, I almost lost out on a fair amount of Disney dollar there!

[HildeKitten]

It sounds like they tried to rip you off to be honest, because no, in my experience (and I've traveled quite a bit through Europe, needing to exchange cash) it doesn't fluctuate like that.
But you know, at least you got your money back, so good on you for going back and addressing the matter!

Personally I prefer to "shop around" before I exchange money. Generally I just pop into banks and ask for their current rate that day, and just exchange at the one that offers me the best rate.
The difference can get quite significant, at one point a friend and I both went to London, got the exact same amount exchanged. She just went to her regular bank, I shopped around and ended up with £ 5 more than her. It may sound like only a fiver, but I think that's already quite a significant difference.

[daddyof2]

Yeah, I've never heard of a rate changing like that. There are often different rates offered, but they should be clear on your rate at the start. I've had good luck using Asda this year and I used to use ICE at Waterloo when I worked in London. As I've said before on here, google "money saving expert" or "travel money max" for good travel money advice and rate comparisons

[stifle]

1.30 was probably the rate if you bought online and 1.18 the rate to buy in store.

[HildeKitten]

Sad fact is, whilst xe.com is an excellent site representing the actual rate, banks etc are not going to be using that because in the end of the day, they need to make a profit.
But it's an excellent guideline to get an really good idea of how much you are approximately going to get.

Simple example from when I went to Prague last month.
xe.com stated (at the time we exchanged) that it was 26 CZK to 1 €
The best bank offer in town we got was 25 CKZ to 1 €
Not a huge difference of course, but a difference nonetheless, but because it was so small it gave us a really good idea of how many € we needed to get exchanged and how much we'd get from it at the bank.

[grovesie]

IT does pay to look around. When I exchange money for my inlaws and our selves I have had a 60 euro difference, it did mean a 30 minutes trip in to London though. You will get better rates in large cities where tourists visit.

[MattR]

From my experience the exchange rate you really get is always better in the country you are traveling today.

I trave a lot (at least one interncontinal flight a month) and the only country I regularly visit where the exchange rate in reality is near the stock exchange rates is Japan.

[stifle]

There's a best way to get euro cash at the wholesale rate, and that is to withdraw from an ATM in France using a non-fee debit card such as the Norwich & Peterborough or Metro Bank cards. Zero exchange margin, zero fees, zero fuss. You will never find a bureau de change in the UK that can match those rates.

[Zee79]

It is best to check around. I often play the exchange bureaus off each other in our town. You need to check the tourist exchange rates on the internet & then compare with bureaus, also keep checking the small print. Post Office in the UK are known for it alongside a few others stating an exchange rate but only if you exchange over a specific amount otherwise it is less. My brother & I combined our money to get the higher rate this year.

[A&S&O]

We very rarely use cash in France. In the summer, we spent about 10 Euros in cash in 10 days. We put absolutely everything on our credit card which has no fee / commission and gives the actual exchange rate.

[stifle]

It is best to check around. I often play the exchange bureaus off each other in our town. You need to check the tourist exchange rates on the internet & then compare with bureaus, also keep checking the small print. Post Office in the UK are known for it alongside a few others stating an exchange rate but only if you exchange over a specific amount otherwise it is less. My brother & I combined our money to get the higher rate this year.

I appreciate you may feel this is best, but it isn't. The above two cards will 100% always have a better rate than any bureau de change.

[Zee79]

It is best to check around. I often play the exchange bureaus off each other in our town. You need to check the tourist exchange rates on the internet & then compare with bureaus, also keep checking the small print. Post Office in the UK are known for it alongside a few others stating an exchange rate but only if you exchange over a specific amount otherwise it is less. My brother & I combined our money to get the higher rate this year.

I appreciate you may feel this is best, but it isn't. The above two cards will 100% always have a better rate than any bureau de change.

I do feel it is best for me. Everyone has a preferred way of spending & mine is taking currency even if it means a lower rate some time. This year I got 1.42 to the pound just before I left & didn't feel like I was losing out, when in the area I was in the exchange rates were far less. I personally don't like cards, you like others do, its what you feel comfortable with.
Is it not better to give people choices & different ideas as to what is available? Some people maybe first time travellers & may not know what is available to them or how to go about it so different examples & explanations can help.

[stifle]

Of course people have different preferences. There is one "best rate" and that is a matter of fact. I don't personally understand why someone would prefer cash that can be stolen, lost, etc. to a safe credit/debit card, but I accept people have their preferences.

[HildeKitten]

Well Stifle, let's not forget cards can be stolen too
Sure, without the code they can't be used, but imagine you only have a card on you that gets stolen, then you have to get the card cancelled and all kinds of annoyance follows suit.
Whereas if you have cash, and you only take a small amount with you into the park/into town with you every day, sure it can get stolen, but you'll have more in your hotel safe.
If you only have your card and your wallet gets stolen, well that'd be rather troublesome I imagine.

Personally I prefer cash also. First of all I'm not willing to pay through the nose to have the kind of bank account that allows me a card that allows me to use it abroad without added cost (because those don't come with basic accounts over here), and secondly when you have a card, it's very tempting to spend more than you planned.
I prefer to take cash with me, which I don't all have in one place when traveling to my destination (so the chance of all of it getting stolen is limited) and when I get into the hotel I divide it into cash for each day of my trip. That way I'm "on a budget" so to speak, which also makes sure that if my wallet/bag gets stolen, I will still have cash for the following days. 

[A&S&O]

Lets not squabble. On all topics and requests for help, give advice, state facts, but don't criticise other people if they have different opinions or we'll end up like another Disney forum.

There is a best method financially for getting the best Euro rate, but that is not necessarily the best method for everyone, there are other factors that we may not know about, particularly depending on what country you are in.