Exchange rates

[Brum26]

Hi everyone.

Just wondered what you all think about the current exchange rates. Do you think now is a good time to buy our dollars? We aren't going until the end of July but I noticed a few days ago that the exchange rates had gone up but it looks like they are starting to drop again now.

Also, has anybody used a FairFX card for their spending money?

Thanks

 

[madmumof2]

I have, they lost $400 of my money and refused to fix it.

I now use the post office travel card, great rates, not quite as good as fairfx but fairfx are renowned for appalling customer service when something goes wrong. The post office is just down the road if I have an issue so I can talk to someone face to face, although I haven't so far and top up online.

Post office cards are also free, fairfx ones are £10 each.

 

[skelfbsfb]

Rates when back up a little today due to BOE not using more quantive easing, but Mr King will come out with something to devalue the £.

 

[2Tiggies]

I've been using my FairFX card for 3 years and never had an issue with it. I use it all the time, not just in the USA and use it for online subscriptions and purchases in US$ and I've been very happy with it. The rates on there are a little better than on the High Street and whenever I see a rate that I think is fairly good, I just top it up, even if I don't have a trip booked (which is never for very long )

The rates fluctuate continuously and go through periods where they plummet and then steadily climb. In the current climate anything over $1.55 to £1 is good enough for me. I changed some a little over a week ago when the rate was $1.598.

I also have a Post Office card and do take some cash and still use some Travellers Cheques as well. I prefer to take a mix of currency as if something happens to one card or TCs for example, at least I have something to use while I wait for it to be sorted out. I also don't keep all my currency in the same place to lessen the chances of anything happening that might totally wipe out whatever I have with me.

 

[fairytale]

I order £1000 worth @ 1.602 last week.

I keep watching the rates on a daily basis, well hourly and am now thinking I should have ordered more.

I posted a similar Thread a few weeks back and one Poster suggested that the rate may go up for the Queens Jubilee along with the interest in the Olympics but who knows

Annette x

 

[2Tiggies]

I posted a similar Thread a few weeks back and one Poster suggested that the rate may go up for the Queens Jubilee along with the interest in the Olympics but who knows

Annette x

It won't hurt to watch the rate closely at that time. If it doesn't do what we want, I suppose we don't have to buy - but worth being prepared if it goes in the right direction

 

[Disneynutinlondon]

I order £1000 worth @ 1.602 last week.

Annette x

WOW good rate I must admit I've been keeping an eye the rate and been waiting for it to reach 1.60 at M&S and then I would change up but so far it's never got there ......... where did yo find that exchange rate ??

 

[2Tiggies]

WOW good rate I must admit I've been keeping an eye the rate and been waiting for it to reach 1.60 at M&S and then I would change up but so far it's never got there ......... where did yo find that exchange rate ??

I do that too once it gets close to a 'desired level' But to me, buying at 1.598 was as good as 1.60 It has hovered around that rate a few times in recent weeks, albeit only for a few hours so as already mentioned on here, never a bad idea to keep checking through the day if it's close enough to what you're hoping for

 

[fairytale]

WOW good rate I must admit I've been keeping an eye the rate and been waiting for it to reach 1.60 at M&S and then I would change up but so far it's never got there ......... where did yo find that exchange rate ??

http://www.travelfx.co.uk/

I would never recommend them though to anyone as they presumably carry similar risks to CCE and we all know what happended there.

Annette x

 

[wilma-bride]

I have also used the Fairfx card for several trips now and never had an issue.

We usually use a combination of Fairfx card (meals and large purchases) and cash (drinks, tips and snacks).

I can't see that there is going to be enough of a rise in the rates between now and end of July to make more than a few $$ difference in exchanging now or waiting. I usually just load another $100 or so onto our Fairfx card whenever I have the cash spare.

Nobody can predict what will happen to the rate (let's face it, if we could, we'd all be rich ) so I would just buy when you have the money.

 

[Disneynutinlondon]

http://www.travelfx.co.uk/

I would never recommend them though to anyone as they presumably carry similar risks to CCE and we all know what happended there.

Annette x

Thanks Annette I know what you mean about CCE I used them on our last but one trip and changed ALL our money in one lump sum just weeks before they "disappeared" Thank goodness we were lucky and received all our money

 

[tinkerpea]

Hi guys just going to jump in, would it be better to get the money in drips and drabs when i have it ,OR save it till i have a bulk of £1000 then wait till the rates good and go change it then? we dont go till september so i have a few months to watch the rate
This may seem a real stupid question but Im still young ok well maybe 26/27 is not that but i dont often deal with the money side Dh is away right now and i have a bit saved but was wondering do i get a much betterrate if i exchange more

Also is the post office card that people are mentioning a bit like the card the travel agent used to have"American express"?? i think it was called that you topped up your self and could use in the hole in wall machines over there? or is it one thats like a CC and has money on it? I used the top it up yourself American express card a few years ago but they discontinued it.

Thanks

 

[2Tiggies]

Hi guys just going to jump in, would it be better to get the money in drips and drabs when i have it ,OR save it till i have a bulk of £1000 then wait till the rates good and go change it then? we dont go till september so i have a few months to watch the rate
This may seem a real stupid question but Im still young ok well maybe 26/27 is not that but i dont often deal with the money side Dh is away right now and i have a bit saved but was wondering do i get a much betterrate if i exchange more

Also is the post office card that people are mentioning a bit like the card the travel agent used to have"American express"?? i think it was called that you topped up your self and could use in the hole in wall machines over there? or is it one thats like a CC and has money on it? I used the top it up yourself American express card a few years ago but they discontinued it.

Thanks

I get my money continuously throughout the year as I have the funds to change. I do it whenever I see the rate is good and just top up. Some people do prefer to save and change a lump sum but I don't because the risk you run is that anything can happen between now and, say 6 months time. The rate could sky rocket and you could be better off when it's time to leave ... or it could tumble and you could end up wishing you had changed at least some of it earlier. Always a gamble, but never any way of knowing. My approach is to watch the rate all the time and change what I have whenever I think it's a good rate at the time. So over a year's planning period for a trip for example, the rate could be sitting at 1.48 for a few months and then it hits 1.55. At the time that would be a good rate. A few months later it might be suddenly 1.60. Again, that would be a good rate. You really just have to be happy enough with it yourself. You win some, you lose some. I just think it is what it is at the time and you do what you can do at the time.

The Post Office card I have is a credit card and there are no fees on foreign purchases. You get the interbank rate on purchases, at the time of purchase, which is always slightly higher than the high street rate. So as with everything it's a gamble but unless you are making large purchases, it's hardly going to have any significant effect. I don't know if PO does a normal savings account with the same benefits. I know they offer such an account, but don't know what the benefits are.

 

[chmurf]

I'm not comfortable taking a large amount of cash
I don't see the point in taking a cash card as it gets more expensive (as far as I'm concerned) than using my bank issued credit card.

Still I'm quite concerned.

As you may know, we had presidential elections in France, and our new president has radically different ideas than our previous one.
The Germany-France axis supporting the euro might crumble to pieces as there has already been small clashes between chancellor Merkel and president elect Hollande, even before he entered office.
Some in the country even chanted "welcome to greece" when the results were published

The Euro plummeted from $1.3289 to $1.2940 since election day. one of the biggest drop in quite some time.
So far euro seems to remain steady against the sterling pound (glad I booked with WDTC-UK and not with the US branch ...)

Today the euro seems to pick up speed against the dollar, but it will eventually fall back by day's end (like it did almost everyday since may 6th)

that's one more concern for me ... don't know what to do
yesterday I learned that my flight back (in november 2012) has ceased to be operated. Yet my TA doesn't seem to understand what the issue is and does not feel like it is its business to take actions. So I paid a fare for a flight that doesn't exist and I have already spent several hours on the phone trying to fix this (You'd think that's why you book through agencies, so that they take care of business when something happens ... think again ...)

I guess it's just one of those days