[shenzys]

? Is it in the bank? Or the post office? Or does it depend on the bank?

[fightoffyourdemons]

Post office do it for free for sure

[Ewan]

Nowhere to my knowledge, they all charge a percentage (even the post office). They may not charge "fees" to change the money, but the sell rate will be different to the buy rate, so you won't get it "free". Nationwide to free withdrawals though (yes totally free)

[HCD]

Almost all places do it "no commission"; but they'll screw you with unfavourable exchange rates, that's for sure. Shop around to find the most attractive rates.

[Svenssen]

(Original post by shenzys)
? Is it in the bank? Or the post office? Or does it depend on the bank?

Try the black market you should get a good rate

[moley]

If you're going abroad relatively often, or even if not, get a Nationwide current account. It charges nothing for withdrawing from foreign ATMs and gives a better rate than the Post Office or Travelex.

[HJV]

My bank lets me change money for free. It's some under 27 year olds thing or whatever.

However, most places you go to will not give you the official exchange rate, thus meaning you are losing some of your money in the exchange, even if there isn't an explicit "fee" for changing money.

[her0n]

There's www.travelex.co.uk who exchange online with "no commission". Tbh though you're better off exchanging a small amount at an average rate, and then using a bank card abroad to pay for purchases at the till. HSBC gave me pretty good rates when I was in the US last month. If you're withdrawing money from an ATM, you will nearly always get charged though (unless you are with Nationwide).

Forgot to mention: Call your bank and tell them which cards you will be taking abroad, and your holiday dates, so they don't block them.

[Louisdf]

If you buy online, your credit/debit card company will charge you a fee (except Nationwide I think).The best rate I found back in Mid-July on the high street was Co-op Travel with M +S a close second, although in West London you can get 1.25 euro for a pound, I could only get 1.21.

[her0n]

HSBC do not charge a fee when buying foreign exchange from an external website. Nor should any of the other banks?

Are you confused with charges abroad for using an ATM? Nationwide do not charge, others will.

[Louisdf]

(Original post by her0n)
HSBC do not charge a fee when buying foreign exchange from an external website. Nor should any of the other banks?

Are you confused with charges abroad for using an ATM? Nationwide do not charge, others will.

http://www.travelex.co.uk/uk/personal/terms.aspx


Credit/Debit cards may be subject to a cash advance fee made by the card issuer. We have no control over and are not liable for such charges.


Which can be up to 4% of the money being exchanged!

[her0n]

Well, I can confirm then that HSBC did not charge me when buying online from Travelex by card.