Best place on high street to sell euros in axchange for pounds

by , 24 Jun 2011Open Question

Answers

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Hi grgcar and welcome to the forum.

Difficult question to answer as rates change regularly and you would need to research that at the time. However, I am told that the Post office always provide a good deal when it comes to selling back currency and I am aware that Post Office Travel Money has been awarded Best Foreign Exchange Provider for the last 3 years running by the British Travel Awards.

It is worthwhile therefore having a look at what they are currently offering.

by Snoopy48, 24 Jun 2011

Exchanging euros for pounds on the high street will cost you money. Assuming you bought your euros on the high street, you may have got 1.04 euros for your pound (for example). Selling euros back you may get a rate of 1.22 (depending on that days rate) which means you are losing out big time. If you have another holiday planned you'd be best off keeping your euros till you go, if you can, or if you have a friend/relative going away perhaps they would buy them off you for what you paid - so no one loses out and the 'high street' don't get to make a load of profit at your expense.

by wendiew, 24 Jun 2011

At the Post Office last week i bought 310 euros (cost ?298.08 at exchange rate 1.04 euros to ?). The trip didn't go ahead and 2 days later I returned to Post Office to exchange the money back. I was absolutely gobsmacked to find they were offering me ?250 for the 310 euros - what a rip off. They offered to buy them back at 1.24 euros to ?. Needless to say I didn't bother to exchange them - am hanging on to them in the hope of being able to sell to friends/family who may be going to europe over the summer. Steer well clear of Post Office is my advice on selling back foreign currency!

by amsie, 4 Jul 2011

Hi grgcar,

With summer coming back around, I thought you might like to know you can compare the latest foreign currency rates online and find where to sell your holiday money on the High Street on our 'euros exchange' comparison table, here:

http://www.money.co.uk/travel-money/euro-exchange.htm

Hopefully you'll be able to establish in advance which High St forex branches might offer more £pounds for your euros. (But, rates are always changing so be aware that they may be different by the time you reach a particular branch.)

If you'd consider buying your euros or buying back pounds online, you can browse our comprehensive travel money tables online from our 'all travel money' comparison table, here:

http://www.money.co.uk/travel-money.htm

by BillJ from money.co.uk, 13 Jun 2012

No matter who the provider is there is always a big difference between the buying and selling rate. At this moment in time 13th August 2012 the market is particularly volatile and as a result the difference could be even bigger, as no one would wish to be caught out and thus lose money especially those providing the service. The Post Office is no exception to this situation, but can be relied upon to give a decent deal and service but they like everyone else are controlled by the market forces on the day and that changes by the day.

by bobc, 13 Aug 2012

The post office offers a very bad buyback rate, ensure that you shop around for a better rate. When converting currency to Sterling, the lower the rate the better.

For example today's Euro buyback rate on their website is 1.45 (EUR500 would get you £344.83) and Thomas Exchange UK's rate is 1.2997 (EUR500 would get you £384.70), that is quite a considerable difference! The Post Office's instore rates are sometimes even worst than their online rates!
I advise you that you to use our buyback rates as a benchmark and if you are based outside London, check if your local bureau de change will match our rates! The Post Office should be your last resort.

by Catherine_2012 from Thomas Exchange, 13 Aug 2012
Maximise your money with Thomas Exchange UK - currency and worldwide money transfer specialists since 1978. Whether you are sending/receiving international payments or purchasing currency, our rates are always better than high street banks & the Post Office. Please feel free to ask me any question regarding international money transfers or foreign currency. Email catherine.kelly@tefx.co.uk or call 0207 637 7336.

Or buy stuff at M&S, Body Sop, Dorothy perkins, John Lewis etc etc

Or keep them for next time or exchange them with someone you know going into Europe or Ireland.

Otherwise you now get stiffed another 10% or more to get pounds back.

by gryan1, 20 Oct 2013

That's interesting gryan, you can spend in m&s? Not down here you can't, presume that's in bigger stores only?

by Jazzj, 20 Oct 2013

Just realised how old this thread is!

Worth looking for someone with guaranteed buy back at purchase rates if you expect to have a lot left over, otherwise I'd keep as gryan suggests

by Jazzj, 20 Oct 2013

do i sell my american dollars when the dollar is at its weakest or strongest

by lexus2, 5 months ago

the lower the rate to buy back dollars the better your deal to get sterling.

by gryan1, 5 months ago
add a comment

Hi, lexus2, and welcome.

You should try to sell when the dollar is strong, as you will get more 'bang for your buck'

Simply put, a dollar that is worth £2 will buy twice as many £s as one that is worth £1.

Hope this helps.

by Feline123, 5 months ago

Agree with feline. Buy when the price is low and sell when high

by Jazzj, 5 months ago

Agree with feline. Buy when the price is low and sell when high

by Jazzj, 5 months ago

Agree with feline. Buy when the price is low and sell when high

by Jazzj, 5 months ago

Heck, hats three times, sorry folks. Looks like my Internet connection is still dodgy!

by Jazzj, 5 months ago

Posts within the money.co.uk community represent the views, experiences and opinions of members and experts only. They should not be taken as financial advice and should not be followed without further research.

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