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Exchange Euros to Pounds

Question

What's the most inexpensive way to exchange Euros into Pounds? Is it better to exchange in Belgium or rather in the UK?

Answer
James Gordon-Ball Oct 24, 2017 16:31

Check out with the British Post Office as they used to do conversion without a fee, not sure if they still do this but you can go online to check... they have a contact service for questions...

www.postoffice.co.uk

Answer
anon Oct 24, 2017 17:47

Are you talking about cash, or bank / wire transfers?

If cash, then I'd agree with James above, the post office in the UK have great rates, if in Brussels, the best by far in terms of spreads on exchange rates, is Eurogold next to the Bourse.

Notwithstanding my recommendation of Eurogold above, avoid bureau de change generally, especially in the UK, as well as tourist areas in any city, or at any airport anywhere in the world. To prove my point, spend 20 minutes walking around the grand place area in Brussels and compare exchange rates you can see that most of them are ripping you off.

If by bank / wire transfers, it is more expensive, but depends on a huge number of variables such as, where is the money coming from, where do you want it to go, are you willing to use a third party (such as an on-line money broker). etc.

If you're making a one off payment between here and the U.K., the easiest and simplest thing to do is a simple SEPA transfer and and eat the modest cost.

If you're going to be doing this on a regular bases, then explore opening an account at somewhere like www.worldfirst.com, or another UK regulated money transfer business.

https://moneytransfercomparison.com/fca/

Answer
wezembeekwanderer Oct 26, 2017 23:23

If cash, then you have recommendations above.
For bank transfer to/from major currencies try http://www.transferwise.com which is a well established system that saves a huge amount. I use it a lot and never a problem.

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