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View Full Version : Finance Where are the best place to exchange cash in Tenerife?



kubis8
11-07-2013, 22:47
Hi guys we are over in tenerife soon for our holidays and have already pre- bought all our excursion tickets and are staying all inclusive so don't think we will need as myth cash this time, we was going to buy 1000 worth if euros from Thomas Cook but obviously if we don't spend a lot of it we will lose out when changing it back once home, so was thinking of taking maybe half that amount with us as Pounds and if we need it then change it over there, do any of you know where is best to exchange and what rates we would get and what commission is charged, I've already read I need to look out for unliscened shops that may give out fake notes so I would be carefully anyway just need some pointers as I haven't changed money once over there since it was Pasetas, lol yes it's been that long, all answers will be greatly appreciated.

Tom & Sharon
11-07-2013, 22:55
Loads of places in resort to change money with decent rates.

If you don't want to do that, all the exchanges in UK, do a "buy back" on your currency for the rate you paid, for a one off payment of 2.99.

CMEdinburgh
12-07-2013, 16:25
Best advice is follow the best advice!

Many travel magazines and Travel Which? among others recommend you get a prepay debit card. There are a few (we use the Caxton FX card).

You load the card at the bank rate the day you put cash in. No surprises, you know the rate before you load the card.

Withdrawal fees at an ATM? 0 and 0%
Usage fees if you pay at a shop or bar? 0 and 0%

And you can top up and check balance by SMS.

And you can withdraw any balance at the end if you must, though we leave it lying until next time as with the falling steadily against the € odds are the rate now is better than it will be in six months.

I would never, ever take cash and exchange it anywhere now, I just load the card with what I guess we may use, and top up if I must, or leave a balance otherwise.

Simples!

marbro8
12-07-2013, 17:06
where are you staying? someone can give you some places to change your currency near to where you are then;)

Stoney
12-07-2013, 18:51
The exchange rate in Tenerife is always better than in the UK if you shop around. If you are at Puerto Colon area there is an exchange place opposite Hotel La Nina always use that when we go. If at Los Cristianos end on the walkway on the promenade from LC to Safari Centre (las Vistas beach) there are a couple of places between the bars that are usually quite good. Hope this helps.

Tshirt
12-07-2013, 20:00
Best advice is follow the best advice!

Many travel magazines and Travel Which? among others recommend you get a prepay debit card. There are a few (we use the Caxton FX card).

You load the card at the bank rate the day you put cash in. No surprises, you know the rate before you load the card.

Withdrawal fees at an ATM? 0 and 0%
Usage fees if you pay at a shop or bar? 0 and 0%

And you can top up and check balance by SMS.

And you can withdraw any balance at the end if you must, though we leave it lying until next time as with the falling steadily against the € odds are the rate now is better than it will be in six months.

I would never, ever take cash and exchange it anywhere now, I just load the card with what I guess we may use, and top up if I must, or leave a balance otherwise.

Simples!

:agree: That's exactly what I do, only I use the internet to load my card and check my balance. The only cash I take is enough for a drink on the plane and to pay the taxi from the airport.

ribuck
13-07-2013, 11:20
The first rule of currency exchange is: don't ever exchange it at an airport. You always get the worst possible rates there.

Also, in the UK, you get poor rates at banks, the post office, and travel agents. You always do much better at specialist currency shops such as Eurochange and Ramsdens. As others have said, the rates in Tenerife are invariably better.

If you're going to exchange at Thomas Cook as you said, you should know this: they have three rates. There is the regular walk-in rate, the "VIP" rate, and their "Internet" rate. For 1000, you should be able to get the VIP rate. When you're asking to exchange, ask them if you get a better rate for larger amounts, and they'll look up their VIP rate. Their "Internet" rate is better still. You can get this in-store if they know you're shopping around. Just tell them "OK, I'm going to check rates at a couple of other places. Is that the best rate you can offer?".

But when I've done this, and been offered their best available rate, I've still found better rates at Eurochange and Ramsdens.

There are places that will guarantee to buy back any leftovers at the same rate if you pay them 3. This is generally a bad deal, if only because it costs you another 3. But if you do take out this optional extra, be sure to check the current rate before you present your 3 voucher to exchange back. Otherwise, you might end up exchanging back at an even worse rate than the current rate!

I avoid this dilemma by changing (in the UK) only the money that I'm absolutely sure I'll spend. Then, I take some extra pounds to Tenerife, and if I need more Euros I change some of the pounds in Tenerife. Works for me anyway.

Ali.xx
16-07-2013, 22:11
I use a post office pre payment card for some of my spending money. Also take €50 or so in cash for bus and first day. I also use exchange places in san eugenio such as Admiral Travel and Scorpio Jewellers to exchange my pounds for euros. Rate is normally better and I've not had a problem. Hope this helps.

junglejim
17-07-2013, 01:17
I use a post office pre payment card for some of my spending money. Also take €50 or so in cash for bus and first day. I also use exchange places in san eugenio such as Admiral Travel and Scorpio Jewellers to exchange my pounds for euros. Rate is normally better and I've not had a problem. Hope this helps.
The exchange shop downstairs at Mercadona in San Eugenio is usually slightly better than Admiral , for a long stay and a large sum it can be significant!

tfs1
17-07-2013, 06:18
I changed 1,000 last week at Admiral and as it was 1k or more I got their usual 'customer loyalty' bonus of an extra €3. Not sure who was more embarrassed me or the guy handing it over !

I know you are going to say its 'free' but it would have been more credible if they had at least raised it to a note. If there was a charity box on the counter I would have put in in there.

tub
19-07-2013, 20:47
we also use the one down the mercadona always the best rates in that area

VideoMem
19-07-2013, 21:50
In Los Cristianos try "Admiral Travel" down from the church square towards the sea, or, if walking on the sea front turn right after "Fados restraurant" and before the kiddies swings etc. walk up about 50 yds up towards the church square, and is located on the left. 25 years of changing money here always had top rate or its equal.:flatcap::flatcap:

YOUNG GOLFER
19-07-2013, 23:00
I changed 1,000 last week at Admiral and as it was 1k or more I got their usual 'customer loyalty' bonus of an extra 3. Not sure who was more embarrassed me or the guy handing it over !

I know you are going to say its 'free' but it would have been more credible if they had at least raised it to a note. If there was a charity box on the counter I would have put in in there.
Yes you are right it was free......what did you do with this extra three euros by the way.......because they have two charity boxes one for live arico and one for the British lions who would be grateful for any donation.

Tenerife Babe
22-07-2013, 13:19
Not sure where you are staying but I always use the one which is between Vistasur apartments and where buzz bar,surfers is etc,it is run by a very nice English couple and always get a good exchange rate.

tfs1
26-07-2013, 06:50
because they have two charity boxes one for live arico and one for the British lions who would be grateful for any donation

Thankyou for that, clearly I need to go to Specsavers - I look forward to making the donation on my next visit.

Mr s
05-12-2014, 11:19
Hi, just woulnderd if any one can adviser the best day to exchange your money.

We are arriving on Friday 19 dec. Xmas/my, is there any day better to exchange

Or does it not change much.

We always use admiral travel, hope to get a

Good rate.

clearwell
05-12-2014, 12:24
I always get the best rate at Java opposite Colon11 , Admiral travel and down theescalater at mercadona .

Ecky Thump
05-12-2014, 12:41
Hi, just woulnderd if any one can adviser the best day to exchange your money.

We are arriving on Friday 19 dec. Xmas/my, is there any day better to exchange

Or does it not change much.

We always use admiral travel, hope to get a

Good rate.


The exchange rate fluctuates on a daily basis, so if you are exchanging your money while you are in Tenerife then no one can tell you what the rate will be....I wish I knew and then I would be a millionaire!:lol:

I've always found that you get the best daily rate at the money exchange by Fado's restaurant & the Irish Times bar in Los Cristianos, but it won't be that much better than Admiral Travel....just avoid the Asian run shops that offer to exchange money, you certainly won't get what they show on their boards that are outside the shop.

KirstyJay
05-12-2014, 12:44
Hi, just woulnderd if any one can adviser the best day to exchange your money.

We are arriving on Friday 19 dec. Xmas/my, is there any day better to exchange

Or does it not change much.

We always use admiral travel, hope to get a

Good rate.

A few days ago was probably the best day to exchange by all accounts. Since the budget announcement the rate's gone down. I'd get it now.

Ecky Thump
19-02-2015, 12:27
Nice to know about the places from where we can exchange the payment.Is there any online method to exchange the payment in our accounts.If yes so please tell me a little bit about it.

I along with quite a few of the Forum Members use Caxton, the link to them is below......


Caxton FX Currency Cards‎

Caxton FX: Travel Money Card & International Payment Services
https://www.caxtonfx.com/
Best Exchange Rates on a Travel Money Card and International Payments. Award winning Currency Cards. Open your Free account today. Best Value on the ...

kingbaker
19-02-2015, 18:47
Do you have a company car from them or just commission?:D

essexeddie
23-02-2015, 18:38
Ecky is right about Fado exchange, but I personally always use my UK Santander or Metro Debit card at an ATM and always get 2cents to the pound more than the best exchange shop, and only get out what I need. At the present rate of 135.5 (ATM) I'm there nearly every day.😯

bennoa1
27-05-2015, 12:57
We always use the Italian guy down the stairs between Gordon Ramseys and La Pinta but on the same side as Gordon Ramseys. They hire cars, bikes and do excursions etc also. No commission and easy but you'll need your passport on your first visit - new rules. We used to use the guy up the passage by the side of Fados but its not convenient when you're in Torviscas. use our Halifax Clarity card where we can (even Mercadona) but always ask to pay in euros otherwise the receiving bank set the rate and it will be worse than you could get by changing cash. Rates are generally a cent or 2 higher in TF than in the UK. Rates have been up an down recently due to the election but hopefully we're into a more stable period. Always seem to go down during school holidays and just before Xmas too.

essexeddie
27-05-2015, 15:49
We always use the Italian guy down the stairs between Gordon Ramseys and La Pinta but on the same side as Gordon Ramseys. They hire cars, bikes and do excursions etc also. No commission and easy but you'll need your passport on your first visit - new rules. We used to use the guy up the passage by the side of Fados but its not convenient when you're in Torviscas. use our Halifax Clarity card where we can (even Mercadona) but always ask to pay in euros otherwise the receiving bank set the rate and it will be worse than you could get by changing cash. Rates are generally a cent or 2 higher in TF than in the UK. Rates have been up an down recently due to the election but hopefully we're into a more stable period. Always seem to go down during school holidays and just before Xmas too.


I agree. We use the Halifax CC now as its about the only one that doesn't charge World wide. We used to use the Post Office CC but they now charge out of Europe.

Lissalyon
28-02-2016, 21:10
Need to change some pound notes tomorrow. Used to use Readys at San Telmo but it's now Scorpio jewellers.
Does anyone know anyone in las Americas or Los cris please.

blondie
28-02-2016, 22:12
We always use the one across from the Colon 11 Apts. not the one straight across for there but further along and down stairs , excellent rate , beats everyone
in LA and LC we have found over the years .

Lissalyon
29-02-2016, 00:36
They are near that new house restaurant on rafael del pig!
Thanks I now remember where that is.
We walked all the way from zen trial centre to el cine and then up to the town and didn't pass one.

jim.verth
02-04-2016, 22:59
Out in may again what's best exchange rate at present