Euros

I'm looking for the best rate converting pounds to 5,000 Euros - any ideas?

Gummo

Reply to
Gummo
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Nationwide debit card in a European cash machine. Failing that, probably M&S.

Marcus

Reply to
Marcus Fox

In message , Marcus Fox writes

A Nationwide Debit Card is limited to withdrawing the equivalent of no more than 300 UK Pounds per day, by their standard terms & conditions.

I think you'll find that significantly better rates are offered by any number of Foreign Exchange Brokers (Google will help), but watch out for minimum trade values and fixed fees which can eat into the effective rate. Once you have bought the Euros you will need to provide details of a Euro bank account in which the money is to be deposited, because the brokers will not deal in cash.

I would recommend first doing some research in forums and newsgroups on reliability and reputation, and then getting quotes from two or more brokers before agreeing a contract. You will need to register formally with them for identity checks to be carried out, before they will provide a quote and trade with you.

Reply to
Dave N

Thanks, Dave and Marcus.

Gummo

Reply to
Gummo

conditions.

True, and many European country's ATMs have lower limits than that.

But I can't believe that is true - can you get "significantly better" than 0.1% or so off the interbank rate? I've done about 15 Euro ATM withdrawals with my Nationwide debit card, the rate has averaged less than 0.1% off the interbank rate and never more than 0.2%

Reply to
Andy Pandy

In message , Andy Pandy writes

It was true in my case recently of having to exchange and transfer several thousand pounds to an account Europe. I got an exchange quote from Nationwide for a SWIFT transfer and then got a much better quote from a broker the same day, which I grant you is not the same thing as using the Debit Card. But, as mentioned, it was not an option to use their Debit Card if the need is to obtain more than comparatively small amounts in one day.

Reply to
Dave N

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