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Buying Euros

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spikeybob | 21:14 Thu 30th Jun 2005 | Business & Finance
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I am about to go on holiday would people recommend buying my euro's here or in Lanzarote when I get there MY MOTHER IN LAW God bless her is banging on that we will get the best rate over there. Also if you recommemd here where is the best place to buy

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Marks and Spencer do foreign currency at some of their bigger branches.  They have had the best deal for us in the last couple of years.

I would shop around here and go for the best deal before I go.

Getting the best rate over there has some implications. You will arrive without euros in your pockets. I know nothing about Lanzarote - can you tip the porters and taxi drivers? And where does your mother-in-law plan to go once she gets there to make her exchange? Does she know a reputable place in Lanzarote, or will you have to ask a hotel concierge for a reputable place, then get another taxi to that location?

How much time will this eat up of your holiday and at how much of a savings? It may be that there are plenty of places for exchanging, but I would certainly want to know before I went. I would ask my bank and travel agent. I'd want to know that it was really worth it before waiting to get their currency. Just a thought - - -

www.travelex.co.uk guarantee to give you the best rate, no commission, and you can pick up the dosh at the airport.

Much less hassle and worry than doing it when you get there

Try the good old Post Office, its where I buy my US dollars from and they always give me the best rate.

I used to take peseta travellers cheques, then euros to Fuerteventura but now I just take enough cash for the first day and then use my card in the cash machines for  the rest of the holiday, its a lot easier.

I suggest opening a Nationwide account. All foreign transactions are free and you can then just use the 'hole inthe wall' facilities at any of the banks over there. We have used it all over the world with no problems.   Be careful with those that say no commission charges as you can get less for your money.  Try the website of either the Guardian or the Independent. I can't remember which it was but i think one of them did an article last weekend about the different rates. I still say a Nationwide card is best.    
I agree with all of the above, is it really worth spending part of your holiday time messing about with exchanging currency and haggling over exchange rates? You could be sunning yourself on the ebach instead.
I'd just find the best deal here and take the cash with me AND also consider the Nationwide.

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