3405 changing sterling to euros

[FONT="Book Antiqua"][SIZE="3"]Hi has anyone got any good ideas as to the best way to change your sterling to euros.? I used [I]currenciesforless [/I]when I paid for my house and was delighted to get a rate of 1.48 .I opened a bank account using House Around Italy but in order to get a cheap account (3 euros a month) I opened one that doesnt give a cheque book or debit card. It still has several thousand euro in and I could just carry on adding funds using [I]currenciesforless [/I]but then I have to go out to my bank to get a bank draft to pay for anything which is a great problem.When I can spend longer out in Italy I intend closing this account and then opening a Post Office account but at the moment I stuck.

For small amounts under £1,000 I just put cash into my bank acc here then use my cash card in Italy to withdraw it.that seems better than buying euros thro my bank Lloyds.

Grazie Mille

Becky[/SIZE][/FONT]

Category
Cost of living - Utility Services

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 03:28

Amex have a Travellers' Cheque style credit card; this allows you to load your card up & then withdraw it wherever.....not sure if it's a good idea, but as it only allows you to take out what you've "loaded up", it helps keep an eye on spend ;)

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 04:18

Open a Nationwide current account, it's the best thing we ever did. You can use your debit card in most ATM's in Italy and they don't make any charge and the exchange rate is brill. they don't make any charge when we use our credit card to pay for shopping etc either.

Susi
(and no I don't work or have any connection to the Nationwide)

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 05:33

Might be worth checking out 1st direct too - my husband is with them and we used them to tx the money for buying the house using business rates rather than tourist ones. Now we just use his card to get money out of the ATMs when we are there - he gets a far better rate than I do with Nat west who charge a packet at the ATMs. I think he pays an annual fee but it also covers all our travel insurance.

M

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 05:55

[FONT="Book Antiqua"][SIZE="3"]Thanks for the advice I am with the Halifax but they charge me £1.50 for everything I buy online in another currency.I intened changing to the Nationwide.

I think my point was if it was worth changing say £20,000 thro currencies for less to get a good rate and then having it sit in my bank account in Italy.I don't appear to be getting any interest.If only my Italian was better I could go in and ask.

Becky[/SIZE][/FONT]

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 08:46

Hmm on that basis you're prob much better off keeping it in something like the northern rock online account which pays 5% and just transferring through a bit at a time. Italian banks appear to pay next to no interest as far as I can see..And hit you for charges for everything.

M

Submitted by Anonymous (not verified) on Thu, 04/27/2006 - 10:59

The interest and charges (and charges are high even for a savings account) would mean you would soon be left with nothing, we just pay into the bank (in italy) just enough to cover our bills.

Susi