Same old question

[John_Lane]

Yes its that Currency subject again

I intend to buy £100 in Turkish Lira in UK and the balance (oodles for Efes and the Markets) in Sterling TC's for exchange in Icmeler.

M&S Money want 1% for the TC's. Is there a better way to buy these or am I stuck with this sort of fee?

Found 2.40ish Lira to the £ on Travelex Site today which I'll probably go for.

Thanks

John

[sheepy]

The 1% commission is about an industry standard, after all, they're issuing these, it costs them to issue, so they'll want to be able to recover their costs naturally.

Might be worth looking at this http://www.moneysavingexpert.com/travel/cheap-travel-money

Something also to remember when using TC's - be careful where you exchange them. In Icmeler, there are a few bureau de change's - and they have their rates outside. It was a standing joke whilst we were there, the frankly laughable rates you got from them. Can't understand anyone who had any idea using these, the rates were so bad.

I've always used a Nationwide bank account to preload in the UK, and withdraw once there. Of course, there is the small chance you might lose your card!

[bailey1972]

So, if the rates are so bad in Icmeler, am I better to change all my money in the UK first?

[John_Lane]

No Bailey, Sheepy is saying that there are some Exchanges in Icmeler offering very poor rates to the unsuspecting tourist. However the most given advice on this board is to take Stirling Travellers Cheques and use the smaller supermarkets to exchange them. The one under the ICR offices seems to get mentioned very regularly as offering very good rates. Recent reports say between 250 and 260 to the pound. Best I've seen in the UK today is 239.6.

That'll be two Efes please.

John

[John_Lane]

Oooopps I forgot to add do a search on the forums under currency or exchange and you'll find lots of info.

John

[blondie]

Yes, generally you will get a better rate changing your money in Icmeler - but DON'T go to the bureaux de change. We found the best rate was the wee supermarket under the ICR offices, but it pays to shop around - some bars and restaurants will also offer you good rates.

[julie w]

Is it better to change English money or Sterling travellers cheques over there? We usually just take all our money in Lira and put it in the safe, but obviously would get a better rate over there.

[ochlynda]

Supermarket opposite the Romance Restaurant also offer excellent rates on both cash and travellers cheques.

Lynda

[John V]

On past holidays I usd to take Sterling T/C and some £ notes . I now only take £ notes and change them at Supermarkets or some bars,such as the Bufflo Bar as you get a better rate in Icmeler than back home.

[blondie1410]

We also withdraw English from the HSBC machine in the square and then change it with Leo at wonderboys - he always seems to give one of the best rates that we have found. Been using him for 4 years now.

[dotty]

John, Travelex do commission free sterling travellers cheques, if you order over £500 they get delivered right to your door for free too. http://www.travelex.co.uk/uk/

[bailey1972]

Thanks everyone for the advice.

I more sleep and I will be soon on my way

Thanks Sarah

[John_Lane]

John, Travelex do commission free sterling travellers cheques, if you order over £500 they get delivered right to your door for free too. http://www.travelex.co.uk/uk/

Blimey nothing is easy is it? Checking on Travelex site it looks a though there is no commision on GBP TC's or TL currency at a pretty good rate of 2.39 for the UK. However when you come to pay it indicates that your debit card provider may charge for a cash advance if you use their card. On checking with my bank they confirm this and say it will be 2%. Other credit cards are quoted at 1.5% charge. Looks like M&S money might be best after all at 1%?

[dotty]

Never had that problem John, I pay with my Bank of Scotland Visa Debit card and there's no charge made for either travellers cheques or currency. Once again it depends who you bank with, guess I'm just lucky with this one.

[John_Lane]

Tracked this info down on MoneysavingExpert.com

Debit cards that DO charge a fee

Abbey
Alliance & Leicester
Barclays
Cahoot
Co-op
Lloyds
Smile

Debit cards that DON'T charge a fee

Coventry BS
First Direct
Halifax
HSBC
Intelligent Finance
TSB Nationwide
Natwest
RBS

Brilliant, I've got Cahoot and A&L!

Last edited by John_Lane on 10 Aug 2009 12:56, edited 1 time in total.

[John_Lane]

Post deleted as its a duplication. sorry John

[ochlynda]

Halifax now charge as my daughter found out at her expense

Lynda