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View Full Version : Finance Where's the best place the change money? The UK or Tenerife?



caz12
13-09-2013, 09:47
we are coming to Tenerife to in Dec it better to change our money here in the UK or wait until we arrive in
Tenerife.

TOPGUN77
13-09-2013, 10:18
You get a better exchange rate here in Tenerife .

Saltnpepper
13-09-2013, 11:43
Definitely in Tenerife, I'd say

Ecky Thump
13-09-2013, 11:49
we are coming to Tenerife to in Dec it better to change our money here in the UK or wait until we arrive in
Tenerife.

One of the safest and cost affective ways is to use Caxton Fx, you open a account with them and are issued with a debit card which you can load in the UK via your bank. There are no charges incurred to withdraw your money in Tenerife from the 100's of ATM's.
The exchange rate is almost identical to what you would get from the exchanges in Tenerife (sometimes more) with the benefit of being 100% safe without having to carry large amounts of cash. Also you can pay for meals etc. with the debit card.

kathml
13-09-2013, 12:52
Rates most places just now are very good at moment actually crossed1.19 interbank this morning it's a gamble what it will be by December

Remember when changing 1000 each point is worth 10 euros

Ecky Thump
13-09-2013, 12:55
Rates most places just now are very good at moment actually crossed1.19 interbank this morning it's a gamble what it will be by December

Is that the bank rate as opposed to the rate of exchange that you would get?

kathml
13-09-2013, 12:59
1.192 was rate quoted as interbank buying rate at 9 am 1.854 selling rate exchange rate should be around 1.17/1.175

logiclee
13-09-2013, 16:31
1.16 at Thomson last week, free pre paid debit card and 200 buy back guarantee with no penalties or commission. (Should we have any money left) :)

Happy with that deal

Some online sites are offering 1.17 this week but nearly all have charges of some desciption and charge for either cards or buy back guarantees

Lee

WELSH CLASSIC
13-09-2013, 19:42
I had 1.1650 at Thomsons yesterday,Thomas cook were 1.18 but you had to change 1000.Probably higher today as the bank rate was 1.1950.Worth changing some now as it will drop or there again it may rise?

essexeddie
13-09-2013, 20:29
Without a doubt an ATM in Tenerife, as long as you use the right Debit Card

lynnangela
14-09-2013, 01:12
1.16.5 at Vinitas San Blas Golf Del Sur today, no commission charges

clara
14-09-2013, 12:03
I have a Fair fx card http://www.fairfx.com/ (similar to Caxton fx mentioned earlier) that I load online when the rate is good and then use the cash machines in Tenerife which costs nothing. Its usually a competitive rate and I also use their international service to pay bills and buy things and the more you spend the better the rate. Very happy with it.

Ecky Thump
14-09-2013, 12:07
1.16.5 at Vinitas San Blas Golf Del Sur today, no commission charges

They are charging you approximately 3 cents for every pound you exchange......

Nothing is for nothing!:cheeky:

essexeddie
14-09-2013, 15:16
I have a Metro Bank Debit Card, Their Banks are only in the London area. I always get two cents more than any high street money exchange shops and no charges.
Most banks have hidden charges but its not the case with Metro.

wendle
22-09-2013, 10:49
I was in Tenerife in Feb 2013 and I could have got a slightly better exchange rate in Tenerife, but I have just returned and this time I noticed that I got a better rate in the UK, I use bestforeignexchange.com and as I work in London I can just walk across the road and pick it up, I got 1.18 on Sept 5th

essexeddie
22-09-2013, 18:18
Its showing 1.1834 to the pound now, must be on the up

primrose
22-09-2013, 18:24
Its showing 1.1834 to the pound now, must be on the up

It's gone down it was 1.20 during the week.

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Its showing 1.1834 to the pound now, must be on the up

It's gone down it was 1.20 during the week.

essexeddie
22-09-2013, 18:28
Yes so I see. Hopefully it will bounce back

dipper
03-10-2013, 17:17
Yes so I see. Hopefully it will bounce back

I just got 1.20 from Travel FX. I alway use them and they are always the best price available for 500 and over

tfs1
03-10-2013, 19:34
fyi - todays commercial interbank rate (not exchange rate, which is always at its best couple of cents lower) peaked at 1.1931 at 0830 this morning.

Travel fx do provide a very good rate, currently 1.1711 if you order 500 or more which includes free delivery, under 500 and it costs 5 p&p which is reflected in the rate.

TOTO 99
03-10-2013, 20:24
fyi - todays commercial interbank rate (not exchange rate, which is always at its best couple of cents lower) peaked at 1.1931 at 0830 this morning.

Travel fx do provide a very good rate, currently 1.1711 if you order 500 or more which includes free delivery, under 500 and it costs 5 p&p which is reflected in the rate.


So which is correct then? Dipper says he got 1.20 today with Travelfx...:confused:

theslaters
03-10-2013, 20:52
Well this is what the money guru says.
http://travelmoney.moneysavingexpert.com/holiday-money/euros/collection-london/weeks/1000-pounds-worth#results

tfs1
03-10-2013, 21:20
Well this is what the money guru says.

The Halifax 1.19411 rate is interesting.

To get this fantastic headline rate you have to apply for a Halifax Credit card and when you use it abroad and take cash out of an ATM you start to pay their interest rate from the day you take the money out. Current interest are 12.95% or 17.95% or 21.95%, its not clear which they will charge - so 1.19411 may not be that great

TOPGUN77
03-10-2013, 22:02
I got 1.1750 from FC Exchange today 1000,5 to transfer into my Spanish bank account