Quote: Originally posted by emmitdb on 12/07/2005
Without a shadow of doubt the best deal I have EVER had was in France in June this year. I took my Caravan Club credit card (issued by Frizzell) to France. While there I used it to get money out of the ATM. On return I got my bill. On the two occasions I used the CC Card for money I received an exchange rate of 1.50 euros to the Ģ which is way better than anything on this side of the channel. I was charged Ģ1.50 for each transaction (i.e. 1.5%) but, and this is a massive but, even allowing for this I still got 1.47.75 to the Ģ.
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I think that could be because you received the benefit of the 'institutional' exchange rate as your bank/credit card co passed on to you some of the benefits they receive.
Certainly I have found that I get a much better rate by buying on my credit cards in France, so take very little cash with me.
If you check some rates on the www or in a good newspaper you will often find two sets of tables - one for tourists and one for institutions - and there's quite a difference. So, it may be worthwhile finding out how your credit card company/bank deals with such transactions and then probably use your card wherever possible.
BTW, I know I've mentioned this before, but just in case some people aren't aware, it is still important to notify your credit card co when you are going abroard, or you may have problems - even though we now have Chip 'n PIN!
The number to call is usually on the back of the card. To save me writing out the problems here, if you call your card co they will explain it to you. Some companies will also give you a number to phone if you do encounter any problems. Here's what Barclaycard says:
Barclaycard: Going on Holiday?
HTH
Oozat
Topic: euros
