Currency Issues 2008

[Mike G]

For several years I have bought € at the Post Office as they didn't charge commission and the rate was good. They are still commission free but the rate is now very poor. My bank (Barclays) is now commission free and offers a much better rate. On the day I bought € it was €1.1994 against €1.1741. With the recent decline in the value of the £ we need all the help we can get!

For those with a Nationwide credit card (which also charges no commission for purchases abroad) I found their rate (which is the commercial rate rather than the tourist rate) was about €0.07 better than buying € in the UK. If you do use a CC abroad make sure they charge you in €, because if they convert to £ the rate they use is likely to be poor.

This thread could also be used to share experiences of the ATMs in Plakias, should anyone wish to do so.

Mike

[George]

The 'Watchdog' programme on Monday this week I think highlighted some issues that I was concerned with regarding the use of Credit/Cheque cards being used abroad. Not that I use them that much.
The fact that the cards were being used in an 'unfamiliar fashion' meant that the companies were not paying out on the spot and numerous people were getting stranded without any funds. Evidently you now have to inform the bank and the milkman and the paperboy etc.   when your going away.

I'm one of the old school and still take traveller's cheques and cash, so I don't think I'll be changing my habits in the near future.  

george g...

[harribobs]

we had a very annoying episode in september, we had opened a HSBC PLUS account, one of it's features we liked was that you could withdraw cash from the account abroad with no charges, sounded good for us being away twice a year, so we stuck our spending money in there before we went away

that was until we actually tried to withdraw money, tried first at the town hall machine ( unable to complete your transaction at this time)  hmmmm  walked down to the next machine at the car hire place (unable to complete your transaction at this time) tried the next one, guess what and finally down to the Alianthos, same story.....

i had contacted HSBC and told them i was away but got on the mobile and spoke to a nice lady in india who didn't seem to know that Crete was in Greece, or that we were. After about 20 minutes she assured me it was all ok and i could get my money out now

you know what's coming don't you?

after another three attempts and four phone calls we gave up, luckily i was able to get money from other accounts

HSBC were very apologetic and did recompense us for a spoiled evening ( as did babis   )

[George]

Plastic's alright, but you can't beat the real thing!!

george g...

[Mike G]

re. Harribobs problem with ATMs, I am reluctant to use them in Plakias for fear (probably unwarranted) of not getting the card back. On a recent trip to Strasbourg I used my Nationwide credit card for all sorts of things (supermarket, meals, train, boat trip, airport shuttle bus, hotel, etc) at, as I have said, much lower cost than using cash. Has anyone experience of using CC's in Plakias (e.g. meals, supermarket)? I wonder what Ali and Dave's reaction would be if someone wanted to pay them with a CC.

Mike

[harribobs]

i've paid by credit cards in a couple of tavernas, Platiea in mythios and i can't remember t'others though

[Chas]

... I wonder what Ali and Dave's reaction would be if someone wanted to pay them with a CC.

Mike

Been there, done that ... no problem.  However, if your are bulk buying tobacco-goods (or anything else with a low, fixed margin) you may be asked to pay something towards their card-processing cost - which is fair enough.

Dave will happily explain it all, if you ask at the counter.

[Noopsy]

Plastic's alright, but you can't beat the real thing!!

george g...

Absolutely.  

As a matter of interest, my bank Lloyds TSB gave me a ROE of €1.2159/£ for cash, and €1.2128/£ for TCs, and no commission (on 29/4/2008).

Noopsy

[Graham_and_Karen]

Well - each to their own. We've recently been on holiday. We changed up £150 to dollars at the Post Office because they were meant to give a good rate - $1.87 to the £. When we got to Cambodia and used our Nationwide debit card at ATMs we never got less than 1.97 and no commission. One day, no doubt my card will be swallowed by the hole in the wall but until then I'll use the Nationwide card whenever I can.

[les Deighton]

The 'Watchdog' programme on Monday this week I think highlighted some issues that I was concerned with regarding the use of Credit/Cheque cards being used abroad. Not that I use them that much.
The fact that the cards were being used in an 'unfamiliar fashion' meant that the companies were not paying out on the spot and numerous people were getting stranded without any funds. Evidently you now how to inform the bank and the milkman and the paperboy etc.   when your going away.

I'm one of the old school and still take traveller's cheques and cash, so I don't think I'll be changing my habits in the near future.  

george g...

Hello George,
We will be going to Plakias in June,and would like to know if when you change Euro Travellers Cheques if you are charged commission?.

Regard,

Les.

[Noopsy]

Invariably!  

Noopsy

[George]

Hello George,
We will be going to Plakias in June,and would like to know if when you change Euro Travellers Cheques if you are charged commission?.

Regard,

Les.

Hi Les
I usually take £-Sterling TC's and I usually change them in the Alianthos, I find the staff very agreeable  , and no they do not charge any commision  . The rate on the board is what you get!


george g...

[les Deighton]

Hello George,
We will be going to Plakias in June,and would like to know if when you change Euro Travellers Cheques if you are charged commission?.

Regard,

Les.

Hi Les
I usually take £-Sterling TC's and I usually change them in the Alianthos, I find the staff very agreeable  , and no they do not charge any commision  . The rate on the board is what you get!


george g...

Thank's for that,it really get's up my nose having to pay commission.

Regards,

Les.

[Graham_and_Karen]

Hello George,
We will be going to Plakias in June,and would like to know if when you change Euro Travellers Cheques if you are charged commission?.

Regard,

Les.

Hi Les
I usually take £-Sterling TC's and I usually change them in the Alianthos, I find the staff very agreeable  , and no they do not charge any commision  . The rate on the board is what you get!


george g...

Thank's for that,it really get's up my nose having to pay commission.

Regards,

Les.

While I agree that paying commission is a pain, you might find that if there's no commission to pay, the rate is lower so you might end up no better. Also, it's some time since we used TCs but I seem to remember that you pay a fee to get them. Although safer than cash, once in resort, the cash and cards go in a safety deposit box so we've not felt the need for TCs.

[George]

Also, it's some time since we used TCs but I seem to remember that you pay a fee to get them.

Depends on what account you've got G&K. I don't pay any fee to get them!
£100 of TC's = £100.  

george g...