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exchange rate
Posted by: jimmy ()
Date: June 02, 2007 05:30PM

hi guys coming out next week for an weel deserved break.
where is the best place to exchange sterling pounds and what is the going
rate or will i change it here before i go.
hope you can help

Re: exchange rate
Posted by: Will2 ()
Date: June 04, 2007 11:45AM

Grrrrr!!! Must... show...restraint.....

There are a million and one about this. Take say £100 in Euros with you. Get at your local bank - or worst case airport.

Put most of your spending on credit card especially if you have Nationwide or Post office Credit card. Don't put on debit card as you will get stung - unless nationwide account.

Don't support local money launderers by changing sterling out there.

Re: exchange rate
Posted by: trev1865 ()
Date: June 04, 2007 12:30PM

try the asian shop next to the irish bar in the la penita area of pdc(on the sea front).they give about 5 points higher rate than uk most of the time.just watch your transaction carefully when they exchange as they are always on the lookout for gullible folk to short change.

Re: exchange rate
Posted by: Will2 ()
Date: June 04, 2007 12:50PM

............. and ask yourself the question how come an asian shop in a tacky tourist resort in the canaries can offer a better rate than the comibned force of Barclays, HBOS, RBOS, HSBC...??


And people keep complaining on here about the increase in crime, drugs, illegal immigrants and smuggling in Lanza....

Re: exchange rate
Posted by: Will2 ()
Date: June 05, 2007 10:12AM

On the average spending money for 1 week away you will save yourself the cost of 2 large beers - but at what cost to others?

Re: exchange rate
Posted by: trev1865 ()
Date: June 05, 2007 01:19PM

dont know if these people are doing anything illegal(and neither do you will),
but its a fact you will get more euros for your sterling there, and thats good enough for me.

Re: exchange rate
Posted by: Will2 ()
Date: June 05, 2007 01:55PM

Thats fine - just don't complain about the increase in drugs, prostitution and crime in general.

How desperate for cash are you? THe difference on a couple of hundred quid is minimal.

Not illegal? Well money laundering is illegal over here and I imagine they are treading on the boundary of the law in lanza.


Re: exchange rate
Posted by: sirharry ()
Date: June 05, 2007 02:51PM



Dear Will,

What has happened in your life to make you so un happy with the world.

The sun is out, life is for living...be positive...not everybody is trying to rip people off...in fact if you knew your stuff it is the big corporates who are ripping people off, not the small shops...

My local corner shop in England is often cheaper than the big Tescos.

Come on lighten up

Harry

Re: exchange rate
Posted by: biffa ()
Date: June 05, 2007 03:22PM

The money laundering refered to is a load of tosh. The banks give the shops preferencial rates for exchanging money, the reason being the banks don't want long queues of tourists trying to exchange notes thus causing problems for locals and businesses trying to conduct everyday transactions.

Re: exchange rate
Posted by: Will2 ()
Date: June 05, 2007 05:26PM

I am a happy camper harry. My corner shop is much cheaper for getting cheap veg and fresh herbs.

But I don't believe for a second that an asian shop in PDC has a deal with Banco Santander to sell currency for a loss.

Re: exchange rate
Posted by: scotty ()
Date: June 05, 2007 10:55PM


Not all the shops are dodgy, infact i live in a part of pdc which has a high asian population, some of the shops are on the make dodgy gear rotating staff etc but alot of the shops inc exchange shops are genuine,they dont like the dodgy shops just like us.......at the mo the exchange rate in the exchange shops is 1.45, it got as high as 1.50 a few weeks back,the best two exchange shops is the one opposite jespers in pdc and just down the road on the same side as jespers next to the pharmacy.


Re: exchange rate
Posted by: Will2 ()
Date: June 06, 2007 10:38AM

2 points -

It's a peculiarity of the British that we feel under pressure to buy something when we are repeatedly pestered. Only yesterday I went to pick up a pair of shoes that were being resoled and ended up spending £300!! Although no pressure was needed form me to buy nice leather blokes shoes!!

Why though when we go on holiday do we feel obliged to pay money on expensive goods which we know nothing about, where we have no recourse if anything goes wrong?

Secondly exchange rates - as Celty correctly says the primary concern must surely be walking through UK customs, flying 4 hours walking through Spanish customs and then eventually finding said shop to exchange money to save what?

£20?!

Is it worth it?

YOur insurance will not pay out if you lose it - carrying large amounts of cash around is plain stupid. There are a million and one websites that recommend credit cards which do not charge commision and you will benefit from VISA/Mastercards rate.

Free advice 1 - get a Post Office or Nationwide credit card - I have now.
Freeadvice 2 - if paying on Debit card never get the store to convert to sterling - always take the payment in local currnecy.


How somewhere can offer a rate of 1.50 to the pound is unbelievable. They will be making a loss - the only explanation is that the cash is "hot" and they don't care how they get rid of it.

The suggestion that Banco Santander and the like are running a job scheme to subsidise local money exchange businesses to keep their own foreign exchange counters clear is hilarious!!! Nice one biffa!! Had to check the date for that one!

Re: exchange rate
Posted by: sirharry ()
Date: June 07, 2007 04:13PM



Hi Pete,

Most amusing...fancy anyone holding any envy for a corporate or people who work for them. People in corporates think them selves to be top dog...but let's be honest if you were that great at your job, why on earth would you want top work for anyone else let alone a big corporate. I was asked to run a big corporate record co in the 90's...great gig, great for ego and bank account.....i said no....best thing I ever did...not one day goes by when I think mistake..I get up when I want, work when I want, pay myself what I want, I can say fuck off to people when I want, take a holiday or day off when I want...just feels great.

I do my my up most to support the little guy, whether it be a restauarnt or corner store.

I would rather pay a bit more and have service and help someone on their way.

You would be quite surprised of some the deals major companies do with small business's..would not be odd that they actually do have a deal with a corner shop.

No envy Pete.

Harry

Re: exchange rate
Posted by: biffa ()
Date: June 09, 2007 09:23AM

Hope youve taken notice of the last post Will!

Re: exchange rate
Posted by: trev1865 ()
Date: June 09, 2007 02:14PM

incase will and others have forgotten,jimmys original post just asked for exchange information.i provided what he wanted without ramming my personal views down his throat. will, stop being holier than thou and just help people out ok?

Re: exchange rate
Posted by: sirharry ()
Date: June 11, 2007 02:46PM



Here Here my learned Trev.

Harry

Re: exchange rate
Posted by: Will2 ()
Date: June 11, 2007 04:28PM

FOr gods sake act your age Harry. You claim to be some top record exec aren't you? Tho purely non - corporate of course. Though this is the internet. I could be fugging Elvis for all you know.

Why not reread the original post Trev before slating someone. Does he actually "just ask for the exchange information"

Fine if useful information involves taking out a thousand pounds cash, carrying it through UK customs, taking a four hour flight, then visiting down town PDC and handing it over at a shop where you have no idea why the rate tops any where else no questions asked then great.

However if like 99% of the normal population you prefer to travel with some Euros in your pocket at the airport and shop on your credit card or take out Euros with your cash card as the difference in rate is minimal and you'd rather not take the risk of putting all your eggs in one basket then I'm guily as sin. I am bang to rights holier than thou. Please lock me up.

And if that isn't helping out I don't know what is.

Re: exchange rate
Posted by: Will2 ()
Date: June 11, 2007 05:52PM

Which is why as I pointed out earlier it is worthwhile getting a post office or nationwide credit card for using abroad.

www.moneysavingexpert.com

Has loads of articles on that sort of stuff plus others.

Re: exchange rate
Posted by: sirharry ()
Date: June 12, 2007 04:32PM



I have to admit Will is right sometimes smiling smiley

I have a Nationwide account for the sole reason of withdrawing cash abroad.

I will never act my age (46)....don't really want to grow up..love working hard and having a laugh...that's why I never got a proper job in Daddy's bank smiling smiley

As to the corporate bit, check me out...known for not playing the game.

Have a great day.

Harry

Re: exchange rate
Posted by: Will2 ()
Date: July 11, 2007 11:08AM

Las Terracitas is near casas del sol I think....?! At least 2 cash points in the old commercial centre by the port. And shed loads on the main pedestrianised street in town centre.

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