When to buy Euros?

Discussion in 'General Chat' started by mjn, Apr 13, 2016.

?

When to buy Euros?

Poll closed Jun 22, 2016.
  1. Play super safe and buy them all now!!

    0 vote(s)
    0.0%
  2. Take a small gamble and buy half now and half on the 24th June

    1 vote(s)
    20.0%
  3. Take a risk and buy them all on the 24th June

    4 vote(s)
    80.0%
  1. mjn

    mjn
    Distinguished Member

    Joined:
    May 24, 2001
    Messages:
    22,910
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Herts, England
    Ratings:
    +11,056
    I'm going to Germany / Austria / France / Italy on the 25th June and need about €1000. The question is, when to buy the Euros as the Brexit vote is on the 23rd June.
     
  2. booyaka

    booyaka
    Moderator

    Joined:
    Sep 26, 2002
    Messages:
    10,777
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    .
    Ratings:
    +3,298
    Just buy them when you need them. Trying to play the game/gamble isn't worth it for 1000 euros.

    Say for instance - 1000 euro's today will cost you approx £794 (at full exchange rate) 1.26 euro to the pound.

    Even if a massive shift of say 15% either way - up or down - You £100 better or worst off dependent on which way it goes. Bear in mind 15% is a huge shift in currency markets between now and June even with Brexit vote.
     
  3. FZR400RRSP

    FZR400RRSP
    Banned

    Joined:
    Mar 5, 2007
    Messages:
    32,035
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Aberdeen
    Ratings:
    +10,374
    Haven't needed to buy Euros for a couple of years now.
    Got myself a HALIFAX CLARITY card.
    No fees for using it abroad, no fees for cash withdrawals (we rarely needed cash when everything could just be put on the card)
    Very fair R/E and you just pay it off when you get home.
    Very liberating.
     
    • Like Like x 2
    • Useful Useful x 1
    • List
  4. mjn

    mjn
    Distinguished Member

    Joined:
    May 24, 2001
    Messages:
    22,910
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Herts, England
    Ratings:
    +11,056
    Thanks, i'll have a look.
     
  5. imightbewrong

    imightbewrong
    Distinguished Member

    Joined:
    Dec 6, 2005
    Messages:
    52,100
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    167
    Location:
    Romford-ish
    Ratings:
    +32,306
  6. Barbs77

    Barbs77
    Distinguished Member

    Joined:
    Feb 21, 2015
    Messages:
    2,737
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    England
    Ratings:
    +3,314
    Just got myself a Halifax Clarity card not used it before is it ok for the Toll roads in France?
     
  7. FZR400RRSP

    FZR400RRSP
    Banned

    Joined:
    Mar 5, 2007
    Messages:
    32,035
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Aberdeen
    Ratings:
    +10,374
    Works on tolls in Spain just fine, can't see why France would be different.
     
  8. Barbs77

    Barbs77
    Distinguished Member

    Joined:
    Feb 21, 2015
    Messages:
    2,737
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    England
    Ratings:
    +3,314
    thanks for that.
     
  9. Shawpe

    Shawpe
    Well-known Member

    Joined:
    May 20, 2010
    Messages:
    3,393
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Plymouth
    Ratings:
    +1,328
    www.travelex.co.uk/supercard

    The trial was filled within hours for this, once Martin Lewis recommended it.

    Travelex Supercard: get cheap overseas spending – MSE

    This will be launching properly this summer, I just don't know what date.

    In the interest of fairness, I am an employee of Travelex, but I receive no benefit for suggesting this. I have one and use it along side my clarity card when I am abroad.
     
    Last edited: Apr 13, 2016
  10. IronGiant

    IronGiant
    Moderator

    Joined:
    Jun 7, 2003
    Messages:
    63,613
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    .
    Ratings:
    +42,699
    Thanks for the "declaration" :thumbsup:
     
  11. mitre

    mitre
    Well-known Member

    Joined:
    Oct 26, 2003
    Messages:
    1,410
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    86
    Ratings:
    +312
    I love my Supercard, pity they're cancelling all existing ones before relaunching.
     
  12. Tetlee

    Tetlee
    Distinguished Member

    Joined:
    Jan 21, 2004
    Messages:
    20,312
    Products Owned:
    0
    Products Wanted:
    1
    Trophy Points:
    166
    Location:
    Taunton
    Ratings:
    +4,809
    Wait, exchange rate is crap now anywhere compared to how it has been for ages against the Euro so doubt you'll lose much if anything by waiting and hopefully gain a bit.
     
  13. imightbewrong

    imightbewrong
    Distinguished Member

    Joined:
    Dec 6, 2005
    Messages:
    52,100
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    167
    Location:
    Romford-ish
    Ratings:
    +32,306
    Rate hasn't been lower than now by more than a few basis points for nearly two years. I bought a load at 1.4 for our holiday last year - contemplated buying more for the future but didn't :(

    upload_2016-4-13_16-58-47.png
     
  14. mjn

    mjn
    Distinguished Member

    Joined:
    May 24, 2001
    Messages:
    22,910
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Herts, England
    Ratings:
    +11,056
    Yeah, August and November last year was the time to buy.

    Rate seems to have settled a little.
     
  15. internetuser

    internetuser
    Well-known Member

    Joined:
    Jul 17, 2003
    Messages:
    3,544
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    106
    Ratings:
    +268
    I am right in presuming the revolt pre paid card is decent as well for using it abroad going of people who use it for buying Xbox games from outside the uk via a vpn.
     
  16. johntheexpat

    johntheexpat
    Distinguished Member

    Joined:
    Nov 15, 2006
    Messages:
    9,363
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    France
    Ratings:
    +2,811
    I would buy now.
     
  17. jenam93

    jenam93
    Well-known Member

    Joined:
    Nov 5, 2002
    Messages:
    3,671
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,057
    Same as with FZR, I have a Halifax Clarity Card, but mine is the CREDIT card. I believe the only difference to the debit card is when you take cash out of an ATM you start getting charged interest immediately on that cash, but not on other spending.

    I got over this by pre-loading the credit card with what I thought I would likely spend and occasionally checking the balance in their banking app.

    @Barbs77 I used it on the French tolls no problem. Much easier than scrabbling around trying to find cash. Don't think I even put a pin number in. Actually I never did at all as the machine would be on the passenger side for UK cars so the Mrs would have used it :) Sure she never had to do a pin though......
     
  18. FZR400RRSP

    FZR400RRSP
    Banned

    Joined:
    Mar 5, 2007
    Messages:
    32,035
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Aberdeen
    Ratings:
    +10,374
    Mine is the credit card too.
    You are right that if you withdraw cash you are charged interest immediately.
    But it's rare we bother with cash abroad now and, even if we do, the interest is very small considering that we pay the credit card off in full when we get home.
    I honestly could not be bothered with the 'faff' of converting cash any more.
     
  19. Shawpe

    Shawpe
    Well-known Member

    Joined:
    May 20, 2010
    Messages:
    3,393
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Plymouth
    Ratings:
    +1,328
    I always think buy when you need them and don't worry about it, I see people every day who worry about the difference in rates and it equates to circa £2.

    Most places have a price match that they don't advertise, and a leading supermarket has £5 off for every £500 you spend (until the end of April), as long as you have one of their loyalty cards. This equates to a 1% increase on the rates.

    As for the revolt card, I have no idea as I have never used it, but I thought I read elsewhere they do/will start charging a fee. I imagine most companies will start offering their own version of the Supercard, as everyone did with pre-paid cards.

    Finally, high street price has recovered from 1.18ish to low 1.20s through this week.
     
  20. FZR400RRSP

    FZR400RRSP
    Banned

    Joined:
    Mar 5, 2007
    Messages:
    32,035
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Aberdeen
    Ratings:
    +10,374
    Back when I did bother with cash, the R/E could make a big difference.
    For example, we decided to wait until we got to Prague to convert to Crowns.
    Much better rate over there, which effectively gave us a free night out compared with any rate I could get here.
    It was only £700 I was converting too.
     
  21. Shawpe

    Shawpe
    Well-known Member

    Joined:
    May 20, 2010
    Messages:
    3,393
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Plymouth
    Ratings:
    +1,328
    The average customer spends about £250, a rate change of 1% or a jump from 1.20 to 1.21 would save £2.50, rates don't tend to move that quickly (Greece caused it to go up, stabilisation and Brexit down), the 15% drop now has been occurring over the last 5 months, and how many people have the funds/desire to buy currency in November and sit on it until July. Of course the more you buy the more you potentially save, but then most companies offer better rates the more you spend.

    As for buying in country, that's a no brainer, but be careful you don't buy from hotels or other tourist resorts as they will see you coming too. I heard of customers getting 1.10 in tourist hotspots of Spain last year whilst we were offering over 1.30.

    And people who buy at airports!!!!! (not those who reserve and pick up).
     
  22. Shawpe

    Shawpe
    Well-known Member

    Joined:
    May 20, 2010
    Messages:
    3,393
    Products Owned:
    1
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    Plymouth
    Ratings:
    +1,328
    If just like to add, I'm no expert by any means, this is just things I've picked up through work and is all my personal opinion.
     
  23. Barbs77

    Barbs77
    Distinguished Member

    Joined:
    Feb 21, 2015
    Messages:
    2,737
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    England
    Ratings:
    +3,314
    My first ever driving holiday in France, I am excited but nervous. Hubby can't drive so he will be in charge of the maps with his assistant Satnav and the credit card.
     
  24. jenam93

    jenam93
    Well-known Member

    Joined:
    Nov 5, 2002
    Messages:
    3,671
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,057
    Nice! Where you headed?
     
  25. Barbs77

    Barbs77
    Distinguished Member

    Joined:
    Feb 21, 2015
    Messages:
    2,737
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    England
    Ratings:
    +3,314
    The Loire Valley going from Calais via Rouen as I don't want to drive anywhere near Paris but I am following someone so that should make it a bit easier.
     
  26. reiteration

    reiteration
    Distinguished Member

    Joined:
    Mar 21, 2012
    Messages:
    9,627
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Ratings:
    +7,983
    least you won't get lost... :D

    have fun...
     
  27. sergiup

    sergiup
    Distinguished Member

    Joined:
    Apr 29, 2008
    Messages:
    7,550
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    SE London
    Ratings:
    +3,891
    Find a time machine and go back to the end of November :D

    More seriously, it'll probably make little difference unless you're talking rather large amounts. Or as it's already been suggested, get a card that's free/easy to use abroad and don't worry about doing it all in advance.
     
  28. SteveCritten

    SteveCritten
    Distinguished Member

    Joined:
    Aug 13, 2009
    Messages:
    10,708
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Caistor Lincs
    Ratings:
    +4,240
    I have a Caxton card as I bought a load of Australian dollars last year for a trip. Had some cash in the bank last year and knowing I would be having a couple of trips to Europe this year I bought a couple of grands worth at 1.42. We have a holiday to Cyprus in August and running out fast so we may need some more everything will seem so much more expensive now the rate is so bad.
     
  29. mjn

    mjn
    Distinguished Member

    Joined:
    May 24, 2001
    Messages:
    22,910
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    Herts, England
    Ratings:
    +11,056
    Get a SanefTag. No need to even stop, let alone queue at the tolls.
     
  30. Barbs77

    Barbs77
    Distinguished Member

    Joined:
    Feb 21, 2015
    Messages:
    2,737
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    166
    Location:
    England
    Ratings:
    +3,314
    Read about them wasn't sure if it would be worthwhile for me think there are only 3 toll roads I will be on. But will look again.
     

Share This Page

Loading...
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice