Euro rates against the pound - should we buy now?

[minimousefan]

hi

just went into the travel agents -its .99 euros to a £1

should we wait or should we buy now ?

what do you all think?

I am going in July to DLP

i just cannot believe how bad its got - it could get worse

cheers
jay

 

[wedreamofdisney]

It's all over the place at the moment I personally would hold on with the hope of them going up again but that's just me. I am sorry I can't give you more helpful advice

 

[Roon]

I think I would wait until the last minute as it can't really get any worse, hope not anyway. Fingers crossed it may get better.

 

[Carpgirl]

Hiya
I wouldn't buy now at that rate. You could order some euros from a website like travelmoneyservices to be delivered before July at a rate of 1.10 at the moment. I've never tried this before but we are going to France for Easter and I ordered our spending money in Feb at a rate of 1.14, to be delivered next week. Obviously you are gambling that the rate won't be better than your booked rate by the time you reach the delivery date. Like I say though, I've never tried it before so I hope they arrive.

 

[minimousefan]

Hiya
I wouldn't buy now at that rate. You could order some euros from a website like travelmoneyservices to be delivered before July at a rate of 1.10 at the moment. I've never tried this before but we are going to France for Easter and I ordered our spending money in Feb at a rate of 1.14, to be delivered next week. Obviously you are gambling that the rate won't be better than your booked rate by the time you reach the delivery date. Like I say though, I've never tried it before so I hope they arrive.

thanks everyone

please can you keep me informed ow the travelmoneyservices works

cheeers
jay

 

[scottishgirl87]

I personally would not buy from any local travel agents (eg. Thomas Cook, Thomson's etc.) as there are simple ways you can get a better rate!

I use this website - MoneySavingExpert.com's Travel Money Maximiser - it gives you the best rate at many online/high street money exchanges! If you also go into the Travel section itself it'll tell you other top ways to get a bit extra for your cash. I hope this is allowed, mods!

 

[Jukeboxs]

I have looked on the TravelMoneyServices website and placed by 1st order (for Euros). They appear to work by purchasing currency in advance at pre-agreed rates (using derivatives called Currency Forwards). Rates agreed in advance in such a way can be higher than current rates due to:

i) The market expecting the currency in question to strengthen in coming months (e.g. due to an expected increase in interest rates, a reduction in the money supply, etc).
ii) The risk that the exchange rate will be even better in the future than the pre-agreed 'Forward' rate that we accept now; i.e. we will not gain/benefit from any further improvement in the exchange rate (as we are tied into the agreed Forward rate).
iii) The company TMS receiving interest on the money paid by us the customer, from the time we make payment to the time they pay us the foreign currency. So, they will make a slight gain on this.

Once you have selected the currency you wish to buy, and when you wish the currency to be delivered, you can process your order with TMS. Once your order has been processed, they send you an e-mail confirming this. You then have to pay them by bank transfer (using the details they provide in the e-mail), with the payment to reach their bank within 4 working days (i.e. you really need to make payment within 1-2 days of placing your order). I think you can also pay by cheque. Your currency will then be sent to you by Royal Mail Special Delivery (at no cost to you, if you order minimum £300 of currency) on the date that you requested it.

I feel slightly uneasy about making payment by bank transfer, so I am going to phone them now about paying by cheque instead (which I can then photocopy before sending it off). However, others on here have experienced no problems with TMS, and I have read only good things about them on Google, so I think my fears have no foundation.

Let us know how you get on!

p.s. A useful summary of the TMS service.
http://www.whichwaytopay.com/compar...duct=Travel-Money-Services-Travel-Money&ID=31

 

[disneypooh64]

We didn't take too many Euros this weekend as the exchange rate was absolute rubbish. We were staying at NBC and charged everything to the room and paid the bill with our Nationwide CC. It gave us a great rate of 1.12 and no commission fees.
We did use the MSE website to find our best local rate for the euros we did take.

 

[ema74]

We only took 200Eur for our trip in Dec and paid for everything on the cards... The exchange rate was c*** and there was no point buying Euros.

I'm going to wait for a few weeks or so and see if it improves before getting some for our trip in July.

 

[euapap]

on the other hand, I pray that pound decreases more so I can buy a very cheap half board