Bummed by the Banks

[I just need to test it]

I was abroad earlier this month. I needed cash so drew 300 Euros out of the ATM thinking "Ahh, I might get stung for this". I did. A tenner charge. 2.5% charge from First Direct, plus 2.75% from Visa. It won't ruin me and as much as it's my own fault for not checking I do begrudge them hitting me quite that hard.

And just now I check my Cater Allen business account and see my invoice payment was done using the worst Euro->Sterling exchange rate in living history. I check with them and find they had mistakenly processed my invoice payment using the US dollar exchange rate. WTF?

Anyway. As you were.

[eek]

I was abroad earlier this month. I needed cash so drew 300 Euros out of the ATM thinking "Ahh, I might get stung for this". I did. A tenner charge. 2.5% charge from First Direct, plus 2.75% from Visa. It won't ruin me and as much as it's my own fault for not checking I do begrudge them hitting me quite that hard.

And just now I check my Cater Allen business account and see my invoice payment was done using the worst Euro->Sterling exchange rate in living history. I check with them and find they had mistakenly processed my invoice payment using the US dollar exchange rate. WTF?

Anyway. As you were.

I have a supercard.io card on its way and currently use a UKash prepaid euro debit card. 300 Euros on that would currently cost me £219.20.

If you don't pay attention to finding the cheapest way of exchanging money people will fleece you...

[MarillionFan]

I have a supercard.io card on its way and currently use a UKash prepaid euro debit card. 300 Euros on that would currently cost me £219.20.

If you don't pay attention to finding the cheapest way of exchanging money people will fleece you...

With Euros at 1.41 to the pound has anyone taken a decision to open a Euro account somewhere and move some money over as an investment?

[eek]

Bummed by the Banks

With Euros at 1.41 to the pound has anyone taken a decision to open a Euro account somewhere and move some money over as an investment?

Good luck getting that. The current inter market rate is 1.39 (looking at the forex account). Will probably hit 1.42 next week however if Greece plays out as most expect

[MarillionFan]

Good luck getting that. The current inter market rate is 1.39 (looking at the forex account). Will probably hit 1.42 next week however if Greece plays out as most expect

I thought there were certain brokers that you could get close to the daily rate? Was looking at property last night in Portugal. With the drop in prices a place I looked at a few years ago is now a good 25% cheaper. Assuming that this is the worse for the Euro, I was thinking of transferring a 100k into a Euro account

[kmge]

I have a supercard.io card on its way and currently use a UKash prepaid euro debit card. 300 Euros on that would currently cost me £219.20.

If you don't pay attention to finding the cheapest way of exchanging money people will fleece you...

That's in pilot and is full (bummer). I use a Caxton FX Visa, easy to use, nice little app that allows instant load from a registered Debit card, no charges at the ATM in euroland.

got a holiday coming up at the end of June so i'm holding off the load to see what happens with the Grexit

[I just need to test it]

With Euros at 1.41 to the pound has anyone taken a decision to open a Euro account somewhere and move some money over as an investment?

It's a bit late in the day but I have opened a Euro business account as I'm being paid in Euros. I hope the currency exchange gods look kindly upon me.

[GlenW]

I thought there were certain brokers that you could get close to the daily rate? Was looking at property last night in Portugal. With the drop in prices a place I looked at a few years ago is now a good 25% cheaper. Assuming that this is the worse for the Euro, I was thinking of transferring a 100k into a Euro account

Dream on!

[MarillionFan]

Dream on!

Which bit?

[fullyautomatix]

Halifax credit card is supposed to the best to use to pay for things when abroad. For drawing cash out, I think its Nationwide which is best.

Banks are very sneaky and so are mobile providers when you try to use them abroad.