what's going on with the euro ?

[Taz]

perhaps I should be buying euros as an investment

The analysts are talking about dollar/euro parity being reached this summer - that would suggest a further fall in the euro of about 8%, if that fall is broadly similar against sterling it would sent the pound to over €1.50

i'll wait then

 

[mr wilks]

It does make euro property very tempting agan as opposed to metal :wink:
What could you get for the price of a price of a decent ZM ?
Its 10mins from our place in Normandy & I viewed it around 4 yrs ago at 50k eur http://www.rightmove.co.uk/overseas-property/property-47656690.html
Was way too dear at that but i spoke with the agent a few weeks ago & 20k eur wasn't ruled out by her :wink:

 

[cj10jeeper]

Just remember as a general rule the cheapest access to currency is to pay by a Visa/Mastercard debit card. You get the benefit of commercial exchange rates which despite to currency surcharge (typically 2% but limited to 2.75%) is way better than any exchange rate you'll get as an individual.
Just dump your card into a major bank ATM on landing.

Secondly pay in the host currency not Sterling, else the local bank will use a poor exchange rate. I pay my hotel bill extras bill every week in Euro and it's around 5% less than electing to pay in Sterling.

I thought the Halifax an Post office cards were the best bet ?
Just remember to pay the balance on the day of return to the UK.

They are likely just stored value cards so you're getting the same commercial rates, except they have your money in advance. The answer is it really depends on which card you have. Halifax are named in some paces as the most expensive card due to a flat rate loading of £1.50 for every transaction.

I'm specifically making the reference to folks who take a wedge of cash out in the UK, or pay by card and select Sterling overseas.

 

[ronk]

Ah !

We take € some cash in the wallet then pay in Euros. If additional cash is needed, we use the Halfax or Post Office card from the Geldautomat and draw cash.

The cash balance attracts a daily interest but it's usually at the end of the visit and is at the commercial rate. We phone and pay the cash balance on the day of return.

 

[cj10jeeper]

Ah !

We take € some cash in the wallet then pay in Euros. If additional cash is needed, we use the Halfax or Post Office card from the Geldautomat and draw cash.

The cash balance attracts a daily interest but it's usually at the end of the visit and is at the commercial rate. We phone and pay the cash balance on the day of return.

Perfect
Your benefitting from the commercial rate and paying just a small amount of interest and charges.

 

[Scooba_Steve]

MetroBank - Mastercard rate with no other fees in the EEC, used to be worldwide but they soon stopped that.

 

[RickRob]

Cards are the way to go. Much better to put as much as you can on cards; e.g. Petrol, restaurants, bars etc and get as little cash as you need from an ATM when you get there.

As previously stated you get a better rate - Visa's rate today was £1 buys €1.3852 excluding any currency conversion fee. See their website:

http://www.visaeurope.com/making-payments/exchange-rates

I have to declare a vested interest here - every time you use a Visa card you help me get nearer to the lifestyle that SWMBO aspires to! :wink:

I'm off to Le Mans in June - will keep my fingers crossed that the rate stays high.

 

[cj10jeeper]

Cards are the way to go. Much better to put as much as you can on cards; e.g. Petrol, restaurants, bars etc and get as little cash as you need from an ATM when you get there.

As previously stated you get a better rate - Visa's rate today was £1 buys €1.3852 excluding any currency conversion fee. See their website:

http://www.visaeurope.com/making-payments/exchange-rates

I have to declare a vested interest here - every time you use a Visa card you help me get nearer to the lifestyle that SWMBO aspires to! :wink:

I'm off to Le Mans in June - will keep my fingers crossed that the rate stays high.

lol - I consulted to Visa for several years to expand EU credit card use and amongst other things how to increase charges

 

[Billy]

lol - I consulted to Visa for several years to expand EU credit card use and amongst other things how to increase charges

Thanks!

 

[mmm-five]

I use a Santader Zero card/account solely for use aboard. 0% fee, 0% handing, commercial rates, etc.

 

[PerryGunn]

I use a Santader Zero card/account solely for use aboard. 0% fee, 0% handing, commercial rates, etc.

I have a Halifax ?Clarity? card that has the same facility - it only gets used on foreign holidays or when I'm working overseas

 

[PerryGunn]

£ is climbing steadily this morning, over €1.42 now...

 

[AndyJ]

£ is climbing steadily this morning, over €1.42 now...

Can't see the € gaining any sustained strength for a while. The EU know how to drag out drama for as long as possible and Game of Thrones gets written faster than they are dealing with Greece.

 

[ronk]

So the wedge of €'s in the safe I saved from last year bought at €1 - 23, look a wee bit shabby!

 

[PerryGunn]

So the wedge of €'s in the safe I saved from last year bought at €1 - 23, look a wee bit shabby!

Well £1000 of euros bought at 1.23 would now be worth roughly £885 (if you bought the same number of euros at 1.39)

 

[pvr]

Wait for someone from Europe to come and visit and ask £20 for each 20 Euro note. They generally only remember the time when it was almost 1:1, so when I get visitors I am expected to hand over £20 notes for every 20 Euro note I receive :lol:

 

[ronk]

I seem to get hit every year!

We bought some at €1-08 one year and the holiday was cancelled ( bereavement) and the £ was up next time we got away.

We can't win tho can we? If I'd sold them when we got home last September there would have been that selling penalty. It always makes he laugh when they say the don't charge interest on transactions. :rofl:

 

[ronk]

Wait for someone from Europe to come and visit and ask £20 for each 20 Euro note. They generally only remember the time when it was almost 1:1, so when I get visitors I am expected to hand over £20 notes for every 20 Euro note I receive :lol:

I seem to remember the starting point when the € was introduced was £1-75 ???

 

[AndyJ]

I seem to get hit every year!

We bought some at €1-08 one year and the holiday was cancelled ( bereavement) and the £ was up next time we got away.

We can't win tho can we? If I'd sold them when we got home last September there would have been that selling penalty. It always makes he laugh when they say the don't charge interest on transactions. :rofl:

If it helps I take the same approach to investing in funds. If you ever want to know when to sell a share / fund / trust, just wait for me to buy and that will be the perfect time.

 

[ronk]

A fella I used to work with always sold his save as you earn share options at the wrong time!
He used to say watch what I do then do the opposite !