euro exchange rate

[pescador2009]

Very good question. Hopefully it will keep creeping upwards but don't put your mortgage on it. More importantly who is willing to set foot on Mallorca and spend their euros under the present CV conditions? I'm sure we all (PP lovers) are waiting for the day it feels safe to board a flight out to the Balearics to enjoy the pleasures of PP and it's surroundings, how we miss it! There are those who have defied the odds, testing regimes, etc., etc., possibly many of them being property owners, I can understand their frustrations. Best of wishes to the locals in PP, I hope their businesses can hang on until we can all feel good to go once again.

 

[bobley]

Not many people are waiting? I know it wasn't rammed last summer but many folks went over and for most of us property owners it's complete bonus. The flights are ridiculously cheap so paying £30 for a day 2 test on return is irrelevant. Even popping down to the sea front for a pre dep test at Dr Mallorca wasn't a chore because it was just an excuse to go hang out at Vitho for lunch.

If you took a broader view of the travel market then yes, you'd say hotels are quiet and and all the nightclubs are closed but for us forum oldies who just want to chill out by the pool, sit outside their favourite bar or lie on the beach with a book then the covid is not really a big problem.

I admit there have been frustrations at being bounced onto different flights but nothing that hasn't taken a few minutes to sort out.

Glad to see the exchange rate creeping up as it's almost time to top up the spanish bank account.

 

[Rockape]

Indeed Bobley....I'm getting out there more than ever! The latest strengthening of the pound is mostly based on our management of Omicron and the view that our base rate is likely to increase significantly this year.

Two things that can change and send the pound back down again.

 

[Disorderly]

Pescador makes a very good point about property ownership. Having a place in PP (and a car at the airport) makes it really easy for us to flip flights and be totally flexible…….being retired helps too! Booking hotels, villas, car hire, airport transfers etc for a family in a pandemic must be an absolute nightmare. That said, with regard to the virus, I don’t feel we’ve “defied the odds” because on every one of the five occasions we visited last year, the rates in Mallorca were a fraction of those in the U.K., and we were fully vaccinated. Other than June, which was desperately quiet, PP was pretty busy every time we were there, particularly in October. We are very, very fortunate I know. Let’s hope the current Omicron rates, now as high in Mallorca as the U.K. drop in time for everyone to enjoy our favourite destination this year.

Getting back to the point of this thread, I doubt the pound will rise much above 1.20……there’s bound to be bad news….energy bills/petrol costs/inflation/NIC/sleaze, scandal/war etc. Take your pick. Don’t you just love an optimist! ��

 

[Bootledodger]

Cash or contactless?

I used my debit card quite a bit when in Marbella in October - i didn't keep a strict eye on exchange rate/s. Has anyone worked out if the rate using contactless is same/better/worse than exchanging cash before travelling? Cheers.

 

[Bircho]

I used my debit card quite a bit when in Marbella in October - i didn't keep a strict eye on exchange rate/s. Has anyone worked out if the rate using contactless is same/better/worse than exchanging cash before travelling? Cheers.

That will all vary between what card you are using and/or where you are getting your cash exchanged.

As a guide today:
Revolut (contactless card no transaction fees) €1.192
Barclays Travel Wallet (contactless card no transaction fee) €1.1604
Post Office exhange (cash) €1.1504
Sainsburys exhange (cash) €1.1634 (€1.1657 if using nectar card)

 

[Bootledodger]

That will all vary between what card you are using and/or where you are getting your cash exchanged.

As a guide today:
Revolut (contactless card no transaction fees) €1.192
Barclays Travel Wallet (contactless card no transaction fee) €1.1604
Post Office exhange (cash) €1.1504
Sainsburys exhange (cash) €1.1634 (€1.1657 if using nectar card)

Thanks Bircho - i do recall when looking at a couple of transactions in Marbella that the rate (NatWest debit) looked good - the above suggests it may well be.

 

[Teacu]

So, whilst (the business rate has been) hovering around 1.20 for a good while, it’s now dropped to 1.80ish. Why ? It can’t be just because of the upcoming holiday season, surely ?

 

[Tangoman]

We were out in Costa Del Sol in March this year, and noticed a huge difference between Post Office Rates. As you say Bootledodger, 15.04 cash at the Post Office Counter, but we got 18.9 cash using their online service, only need to change £1000 to get this!!

Ordered at 3.00 p.m. on a Thursday, and it was delivered at 9.00 a.m. next morning (no charge for delivery).

 

[bobley]

My credit card appears to be closely tracking the market rates on XE.com so its showing 1.174 this morning (xe says 1.187) whereas the post office is 1.144 to 1.165 depending on the amount so I'll just carry on tapping away on the credit card for now.

 

[Bootledodger]

My credit card appears to be closely tracking the market rates on XE.com so its showing 1.174 this morning (xe says 1.187) whereas the post office is 1.144 to 1.165 depending on the amount so I'll just carry on tapping away on the credit card for now.

Bobley: are you getting a small charge added on each transaction? or is that rate just a straight transaction?

 

[bobley]

No, Its a fee paying card Natwest card and in return it gives me travel insurance, car breakdown insurance, mobile phone insurance, concierge, airport lounge access (lol, me in an airport lounge) and lots of cashback... as well as no transaction fees.

I did spot that it gives a 0.03 better rate than most of the other Natwest cards too.

The straight "Natwest Credit Card" also has no fees and gives the higher exchange rate.

 

[Bootledodger]

Cheers Bobley, i've been with NatWest for donkey's and just changed over to Select current so hopefully will get good rate.

 

[mopezone]

Not totally relevant to this thread but I've got a euro debit card - are there any ATMs in PP or Pollenca which don't charge you a fee to make a withdrawal? There used to be one in the main street just off the sea front, on the right as you head out of town?

 

[car77]

Not totally relevant to this thread but I've got a euro debit card - are there any ATMs in PP or Pollenca which don't charge you a fee to make a withdrawal? There used to be one in the main street just off the sea front, on the right as you head out of town?

Don't know about a Euro debit card but I use my Nationwide debit card and Banca March doesn't charge a fee to use their ATMs whereas other banks do. I also get the market rate at the time if I choose Euro's rather than accepting their Sterling value.

 

[mopezone]

Thanks very much!

 

[Tangoman]

Prepaid Cards

Thinking of using a Prepaid Card this year for a change, and would welcome any pointers/advice. My favoured card at the minute is a FAIRFX Card. I really only need it when in Spain, as only travel to PP in August, and Costa Del Sol in March and/or October, thus only need prepaid Euro's. I am happy with their exchange rates usually, and their charges also look to be OK.

But I am wary of missing something (or missing out on something), so would appreciate a viewpoint from you guys who have researched this more than me. I actually fully agree with Julian that Cash is King, but getting older now, so not just as able to chase pickpockets down the street to administer retribution, therefore looking at something more secure.

On another point, can anyone tell me the current rates of exchange available from ATM's at present? Was watching "Mallorca Under The Sun" a few days ago, and Alex said that she thought that rate on the island was 1.23 - 1,25 Euro's, but I find that hard to believe.

Anyway, all comments and advice welcome, thanks.

 

[Teflon]

For my money Revolut is the best currency exchange card. The rates are so good you can almost trade the markets with them. As for the rates you quote in your post they seem way off reality

 

[Rockape]

Indeed, another Revolut customer here. If you pre load your card with euros, exchanged at a good moment on the excahnge rate, you've effectively banked that rate and can use the euros on the card like a debit card, or withdraw a limited amount per month with no fees. There really isn't a downside!

 

[cumberland8]

There is a charge for using Revolut at weekends,also if you go over £200.