Sterling & Euro Warning

[Fear ón Srath Bán]

moneysavingexpert.com has a lot of info on this sort of thing.

And this is what he has to say about conversions to your native currency (Dynamic Currency Conversion):

Q. If I'm abroad spending on plastic & they offer to let me pay in pounds, is it worth it?

A. No. This is called dynamic currency exchange, and should be avoided. Often the rate you get will be appalling and someone's making big money out of it. If you've got one of the specialist overseas cards you'll get a much better rate paying in the foreign currency not pounds. And even if you're using a normal card as you've no idea of the relative exchange rates they could be playing you for a fool; so it's always best to stick with paying in the foreign currency.

If you're travelling to Spain, be especially careful. Some Spanish banks, particularly giant Santander, have started to ask UK cardholders if you want to have your money converted into Sterling when withdrawing Euros from ATMs. Always say No; the rate you'll get is often much worse than the rate you'd be given by your own plastic provider when it converts Euro withdrawals, although the exact rates depend on which plastic you're holstering.

[mylestheslasher]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

[Gnevin]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

[mylestheslasher]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

Somehow, I don't think that if the euro crashed that Argos would continue to sell product in the south at a loss somehow. Anyway - its their problem to sort out, I for one won't buy anything of them in the south.

[EC Unique]

There was a guy from Ballygawley on winning streak on Sat night and lifted 52000euro. Could not have picked a better time with the euro so strong

[mylestheslasher]

There was a guy from Ballygawley on winning streak on Sat night and lifted 52000euro. Could not have picked a better time with the euro so strong

I saw that. He can afford to get the hair sorted for the next time he is on TV now 

[Gnevin]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

Somehow, I don't think that if the euro crashed that Argos would continue to sell product in the south at a loss somehow. Anyway - its their problem to sort out, I for one won't buy anything of them in the south.

The price has fluctuated up and down since the launch of the Euro sometimes in favour of Argos , sometimes not . They never reprinted .

[mylestheslasher]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

Somehow, I don't think that if the euro crashed that Argos would continue to sell product in the south at a loss somehow. Anyway - its their problem to sort out, I for one won't buy anything of them in the south.

The price has fluctuated up and down since the launch of the Euro sometimes in favour of Argos , sometimes not . They never reprinted .

All they have to do is put up a big sign saying "due to weakening sterling, argos is pleased to reduce all listed prices by 10%" or whatever. I'm sure the informed  customer will vote on this with their feet.

[Gnevin]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

Somehow, I don't think that if the euro crashed that Argos would continue to sell product in the south at a loss somehow. Anyway - its their problem to sort out, I for one won't buy anything of them in the south.

The price has fluctuated up and down since the launch of the Euro sometimes in favour of Argos , sometimes not . They never reprinted .

All they have to do is put up a big sign saying "due to weakening sterling, argos is pleased to reduce all listed prices by 10%" or whatever. I'm sure the informed  customer will vote on this with their feet.

And you would equally support a  "due to strengthen sterling, argos is pleased to increase all listed prices by 10%" or whatever?

[mylestheslasher]

I forgot to mention that Argus are very guilty of this thing, presumably because their books are printed in advance and they can't take account of the fluctuating exchange rates (that assuming they'd want to, which I doubt they would). If, like many, you are looking to buy something from Argus - do it up north.

Well surely they win and they lose, I think if you've spent millions on printing catalogues it's fair enough the don't have to reprint them a every rate change. The net is different they can could use real time data if they wished .

Somehow, I don't think that if the euro crashed that Argos would continue to sell product in the south at a loss somehow. Anyway - its their problem to sort out, I for one won't buy anything of them in the south.

The price has fluctuated up and down since the launch of the Euro sometimes in favour of Argos , sometimes not . They never reprinted .

All they have to do is put up a big sign saying "due to weakening sterling, argos is pleased to reduce all listed prices by 10%" or whatever. I'm sure the informed  customer will vote on this with their feet.

And you would equally support a  "due to strengthen sterling, argos is pleased to increase all listed prices by 10%" or whatever?

Of course. I mean if things shift either way by a large amount I would expect that Argos would make the change.

[Fear ón Srath Bán]

This wouldn't apply just to Sterling-Euro exchange, but for all currencies: I've just used a crowd called www.currencyfair.com, and I'm impressed with them in that you could save very substantially when transferring (depending on the amount) -- you'll get the best possible forex rates, plus they'll charge only a very small fee, if any at all.

All very easy to set up too.