Exchange Rate (new) (urgent)

[Snow8882]

I've just had my regular Money Saving Expert email in and apparently there is going to be a flash sale tomorrow from 9am


24hr FLASH euro & dollar sale + free £80 tastecard. From 9am Thurs, ICICI's* boosting rates for 24 hrs. Plus order £600+ worth, and get a 12-mth tastecard (gives 2for1ish at 1,000s of restaurants). To see how good its rates are, use our Travel Money Comparison.

(Not sure how to put links in so I've colour coded the links here)

http://travelmoney.moneysavingexpert.com/

https://www.onlinetravelmoney.co.uk/cgi-bin/live/ecommerce.pl?site=onlinetravelmoney&dept_id=01&sub_dept_id=01


Think I'll take a wee looksie....

 

[Disneynutinlondon]

well ICICI are currently offering a rate of 1.5284 and Best Foreign Exchange are offering 1.557 so I know who I'd use

 

[wilma-bride]

well ICICI are currently offering a rate of 1.5284 and Best Foreign Exchange are offering 1.557 so I know who I'd use

That's very interesting - when I checked earlier, their (ICICI) rate was 1.539. Wonder if they've put it down in advance of tomorrow's special

Having said that, I wouldn't use Best Foreign Exchange personally as you run the same risk of what happened with Crown Currency since you can't pay by credit or debit card.

I think it's fair to say that you should still check who is offering the best rate when you purchase your currency and not assume that a company with a 'special offer' is necessarily going to be offering the brest deal.

 

[Disneynutinlondon]

That's very interesting - when I checked earlier, their (ICICI) rate was 1.539. Wonder if they've put it down in advance of tomorrow' special

Typical

 

[wen-tom]

when i checked ICIci yesterday the rate was higher so not much of a sale

 

[madmumof2]

The rate is only 1.53 :S That's the same as it has been for weeks

 

[Snow8882]

Really disappointed with this - the rate hasn't changed so it's hardly worth it. FairFX are still coming out as the best exchange.

 

[wen-tom]

thought i'd just check again to make sure the rate hadn't changed and it's actually gone down to 1.52 again now

 

[Disneynutinlondon]

Having said that, I wouldn't use Best Foreign Exchange personally as you run the same risk of what happened with Crown Currency since you can't pay by credit or debit card.

Best Foreign Exchange do have several retail outlets where you can order your currency online and then go and pay for it and collect it. One of their outlets is in Liverpool Station and there is ALWAYS a long queue outside at lunchtime with people waiting to collect their currency.

Having been almost caught out by the Crown Currency debacle I am very careful especially as we like taking cash with us but I do think that if I can pay for my $$ and collect them at the same time I should be ok.

Right now the best rate I can find is at the ICE retails outlets in London which are giving $1.551

 

[wayneg]

Having been almost caught out by the Crown Currency debacle I am very careful especially as we like taking cash with us but I do think that if I can pay for my $$ and collect them at the same time I should be ok.

I use a fee free credit card for all I spend now so don't convert anymore but if I did I wouldn't use any service that takes upfront, even if it was only 24 hours. The only way I would convert is face to face, a straight swap, even if that meant losing 2-3cents. how much are you gaining overall?
Glad I don't have this hassle anymore.

 

[wilma-bride]

I use a fee free credit card for all I spend now so don't convert anymore

Wayne, I would do that (and, seriously, the more I think about it the more tempted I am) but I just wonder whether I would be able to limit my spending the same way I do when I have all my money up front

I agree about not paying out upfront though - just not worth the risk to me.

 

[madmumof2]

I use a fee free credit card for all I spend now so don't convert anymore but if I did I wouldn't use any service that takes upfront, even if it was only 24 hours. The only way I would convert is face to face, a straight swap, even if that meant losing 2-3cents. how much are you gaining overall?
Glad I don't have this hassle anymore.

You would gain quite a lot at 3 cents more per dollar if you were ordering a large amount, although if they take your money upfront I'd class that as a very big risk and wouldn't do it myself personally. They could go busy and run off with your money.

Wayne, I would do that (and, seriously, the more I think about it the more tempted I am) but I just wonder whether I would be able to limit my spending the same way I do when I have all my money up front

I agree about not paying out upfront though - just not worth the risk to me.

It would if you had a lower credit limit, at least cash is unlimited, as well as debit cards. Not everyone haas a credit card, I don't and don't ever plan on getting on, too dangerous for me! Lol. I have the post office travel card which is fab, I got 1.54 this morning with them, it's gone down again now so glad I checked this morning!

 

[wayneg]

Wayne, I would do that (and, seriously, the more I think about it the more tempted I am) but I just wonder whether I would be able to limit my spending the same way I do when I have all my money up front

I agree about not paying out upfront though - just not worth the risk to me.

Makes no difference to me if I have cash or a card, especially on DDP, all we will spend is tips, none of us enjoy shopping, Matt might buy a few clothes and that will be it.

 

[Elise79]

You would gain quite a lot at 3 cents more per dollar if you were ordering a large amount, although if they take your money upfront I'd class that as a very big risk and wouldn't do it myself personally. They could go busy and run off with your money.

It would if you had a lower credit limit, at least cash is unlimited, as well as debit cards. Not everyone haas a credit card, I don't and don't ever plan on getting on, too dangerous for me! Lol. I have the post office travel card which is fab, I got 1.54 this morning with them, it's gone down again now so glad I checked this morning!

You don't lose that much - $3 dollars for every hundred pounds.

Personally, I don't change for cash etc here anymore as we have a US bank account. I transfer when the rates are good by a regulated agency. I then use by debit card like I would at home and our PO credit card for any larger items.
However like Wayne we are not big shoppers - spent $18 on a dress for DD and a new iPad case for me at the mall then a new pair of trainers each at the outlets.

Wouldn't be without a CC in the states as you never know - its a safety net.