Save money when searching for the best euro v pound exchange rate

When we are looking to change our pounds into Euros it pays to shop around. Whether it is a case of a few hundred pounds for our annual holiday, or a more substantial amount to be changed when buying property, doing your research can pay excellent dividends. When you are exchanging cash for Euros, it is often tempting to nip to the local bank or exchange bureau, however these might not necessarily be the cheapest. There are two main points you have to consider when exchanging your pounds.

Firstly, the obvious one, the exchange rate itself. It really is worth phoning around to check the best exchange rate or even better researching on the internet to find the best rate available.

Exchange companies dealing via the internet often have lower overheads and are able to offer a better rate. It is also worth contacting the companies to ask if they can offer a rate better than their advertised one, especially if you are exchanging a large sum of money.

Then there are the other charges to consider. Check which companies charge for commission and how much. Sometimes those not charging directly for commission have less favourable exchange rates so you have to do your sums to check which is the best overall deal.

If you are transferring cash for your holiday, it also pays to check the buy-back policy and costs in case you have unwanted foreign currency at the end of your holiday.