FAO Anyone planning on holidaying in Europe this year

Fuelled by yesterday's surprise interest rate hike, the pound just reached 1.48 Euros for the first time this year. This still isn't brilliant compared to a few years back and might well go higher but if you're after Euros and not going to follow my usual advice about getting them while abroad using a Nationwide ATM card, then now may well be a good time.

 

We've found the best way to convert sterling to Euros is using a Nationwide debit (or credit) card in the destination country, including getting cash from ATMs. Just get enough Euros to get you to Europe and then top up on arrival and as you go along. We move all our money to France this way, unless we're moving a large amount, i.e. over 10k, and even then you've got SWIFT fees to take into consideration.

This is because they're the only bank who don't charge commission on foreign currency transactions. You also generally get within half a cent of the commercial rate, compared with 5 cents or more if you use the post office or similar.

It's also safer as you're not carrying wads of cash, just what you need in-between ATM visits.

 

Glad to help

I'd recommend to anyone to open a Nationwide account purely for this purpose. And no, I'm not on commission or work for them or anything, I just like to support a financial institution that's showing the others the way forward.

 

lol do you never listen to me?