How to buy travellers cheques or foreign currency

A question about : How to buy travellers cheques or foreign currency

Can anyone advise where best to buy Ј1000 worth of Euros (in cash)?

I was told that the Post Office is the cheapest as they charge 0% commission, however they're not very transparent on the buy/sell spread -- which is probably where they make their profit -- so it's difficult to compare them with high-street banks, bureaux de change and travel agents.

Thank

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Best answers:

• Why not go round a few places on the high street and ask them all for quotes for how many Euros you will get for your money.
• I'm also looking to buy euros soon.
  I've been told that Marks and Spencer are very good for buying euros but don't know for definate
• I know that www.travelex.co.uk have a comission free deal on at the moment, but they will be unkeen to exchange for Ј1000 in cash as they worry about money laundering. However thaty would have no problem doing it via a Switch card, or as several lower value transactions as long as you had ID
  MTC
  :
  p.s they are offering 1.3584 euros to the Great British Pound at the moment
• M&S are doing commission free Euros at the mo but i don't know how their exchange rate compares with banks etc.
  I guess you have to shop around to get the best deal
• Shop around is the best advice and don`t forget the rate changes daily.No matter when I buy mine the rate always gets better afterwards!
  I have noticed that you nearly always get a better rate abroad
• Marks and Spencer are the cheapest at the moment and they are commission free.
  I watched a program on the other day about the cheapest place to buy euros and M&S were top and the post office second
• Don't forget to find out how much it costs to just withdraw the cash from an ATM while in Euroland.
• My colleague at work wants to know if its better to change her Euros in France or in England,as she is'nt going until September its alittle early to advise.
  Any suggestions would be welcome.
• Could someone let me know why it is that you can go to three outlets offering commision free and get three different qoutes I was offered 78p a euro and 73p a euro which is a difference of 70euros on Ј800 And the only explaination i got from the teller was that rates come in daliy and she has to charge what she is told from head office. Well surely there is some kind of charge then, if the rates can be so different.
• First thing to say is read my article on getting cheap currency - which is here
  https://www.moneysavingexpert.com/tra...p-travel-money
  The point is commission free is a complete myth. Foreign exchange bureaus make their money two ways.
  i. Commission
  ii. By offering rates worse than they themselves get. Therefore extending the difference between the rate they buy and sell currency.
  In effect all of it is a nonescence. You'll always get different amounts. The ONLY way to judge is by saying
  I have £XXX how many Euros/Dollars/Zeloty will you give me for them after all fees and commission. Whoever gives you more is the one to go to.
  Martin
• That is discusting! How the hell is it commision free if there is a hidden charge that they are not even willing to be honest about?
  At least now i know that i am only slightly insane, all the time i spent running around trying to get commision free and there is no such thing!
• If I were arguing for them (something which will never happen) I would say it is "commission free" but it isn't "free of all charges" - clever marketing isn't it. After all they only want to make money!
• I am going on holiday this week so don't have time to get a new credit card. I have a barcly debit card so hightest loading and 2% fee. would it be better to get Euro's here or get it from an ATM in Euroland?
• I've generally found Marks & Spencer or the Post Office give the best rates for buying euros, with no charges added. See Gaz's comment above (26.07.03). Avoid travel agents!
  However, on my last few trips to Europe I've used my Nationwide FlexAccount debit card to withdraw euros from local ATMs as and when I need them. That way I don't end up bringing a load of euros home. The exchange rate is very competitive, Nationwide don't charge a fee for using an ATM abroad, and I've yet to run across a foreign ATM which charges a fee locally. (If it does, cancel the transaction and go find one at a different bank).
• Yeah Nationwide do not charge/ levy the usual 2.75% currency charge.
  ATM withdrawls cost 1% abroad (on my natWide CC)some other charge more
  Find it very good, so long as sure that there is a machine at the resort
• If you use your debit card, as opposed to your credit card, there's no charge imposed by Nationwide.
  Most tourist resorts should have an ATM which can be used. After all, the locals have to get their cash too! If there's no ATM, it's likely the place is so far off the map there'll be no local bureau de change either!
• Am I right in saying that anything carrying a Maestro symbol on the card can be used to withdraw Euros from cash machines abroad.
  I have a Natwest Solo card with a Maestro symbol and if thats the case ill take less currency and just draw the stuff out when im in Corfu.
  Although id still feel slightly insecure about going aboad with hardly any money... Also not being used to Euros ill probably spend WAAAAAAAAAY to much money using this method completly negating any savings ill make.
  Should have joined the bloody Euro when we had the chance
• I have a Nationwide Debit Card can I use it in an American ATM for $$$$$$ without paying a foreign exchange charge.