Exchange rate

[Jacqui Harvey]

The original poster, who is new to the area just wants to know where a Tourist should change money for the best rate.  This post is getting bogged down with regulars who use Bank Accounts etc.,
I think we should just keep this post very clear for them and not go off track.

[sadler]

Do you mean take a leaf out of your book Jaqui?

[Jacqui Harvey]

I have already given the poster the most clear advice, as I always try do to with people who ask questions.
I seem to attract people who follow my postings to make silly remarks.  However, as constant fans you would think they would now be able to get my name right.

[sadler]

If that remark was aimed at me Jacqui, I certainly do not follow you around, I have neither the time nor interest. I was with my warped sense of humour, noting that you frequently go off thread yourself. As for your name I have a daughter with a middle name of Jacquline and several friends with the same name. They all spell their nick names differently and none of them gets agitated if sometimes one forgets who spells theirs which way. Life is too short!

[deejohn]

New to this site but very confused about where is the best place to exchange your money. There are so many people saying this or that place is best or worse. So Like booty81 I would like to know where would everyone actually recommend changing their money up? Could we have a best place to get your Lira Vote?  Just a thought to make it less confusing to us newbies.

Forgive me but isn't that a contradiction. People are honestly giving their opinion and you are then asking them to actually recommend a place. Surely they have already done that by responding to you. A vote would not be as straight forward as you might think.

For example. you might get 0.09 more lira to the GBP from a bank in Fethiye than from Zumrut in Calis (our personal choice every time) but you will have spent time and money doing it. Some people, us included, couldn't be bothered.

As with most things, you pays your money and you take your choice.

Thank You Sir.

[villain]

Use a "good" credit card wherever you can. Halifax Clarity card for example gives a perfect exchange rate and no fees, including withdrawal fees at ATMs.

Interest does accrue on cash withdrawals immediately but the actual amount is minimal if you pay off the withdrawals quickly. I do this by using a banking app on my smartphone whilst I'm on holiday a day or two after making a withdrawal. I paid about £1 total in interest last year on around £800 of cash withdrawals.

Plus, you avoid the worry of carrying large amounts of £'s around with you and searching various places for the best exchange rate.

Comparison of the card v UK Bureau de Change:

http://travelmoney.moneysavingexpert.com/holiday-money/turkish%20liras/collection/weeks/500-pounds-worth#results

Changing £500 in this method would result in an extra 118 lira compared to the "best" UK Bureau de Change.

[johntaylor49]

I found where Jacqui suggested very good indeed as a Tourist, but, if you come regularly may I suggest a daily check on
this and a trip to Tesco and change in bulk, I changed £1000 at about 3.79 early in the year. It was trading about 3.67 today so maximum you would get about 3.5

https://uk.finance.yahoo.com/echarts?s=GBPTRY=X#symbol=;range=my;compare=;indicator=rsi+volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;

[Colwyn]

Use a "good" credit card wherever you can. Halifax Clarity card for example gives a perfect exchange rate and no fees, including withdrawal fees at ATMs.

This is a very good credit card BUT you are charged 12.9% APR on ATM withdrawals until you pay them off. If you save up for your holiday before you go a "good" debit card is even better. I use Norwich & Peterborough - no ATM fee, no exchange rate "loading" AND no interest to be paid on withdrawals.

[Jacqui Harvey]

I found where Jacqui suggested very good indeed as a Tourist, but, if you come regularly may I suggest a daily check on
this and a trip to Tesco and change in bulk, I changed £1000 at about 3.79 early in the year. It was trading about 3.67 today so maximum you would get about 3.5

https://uk.finance.yahoo.com/echarts?s=GBPTRY=X#symbol=;range=my;compare=;indicator=rsi+volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=;

If we were all fortune tellers we could buy at the best rate.  We bought from Debenham's early in the year at 3.81.  If we could do this every time it would be great, but no one knows what will happen to the Lira from week to week.  Since we bought and came over and spent our money in May/June, the rate has been better in Turkey than the U.K.

[villain]

Use a "good" credit card wherever you can. Halifax Clarity card for example gives a perfect exchange rate and no fees, including withdrawal fees at ATMs.

This is a very good credit card BUT you are charged 12.9% APR on ATM withdrawals until you pay them off. If you save up for your holiday before you go a "good" debit card is even better. I use Norwich & Peterborough - no ATM fee, no exchange rate "loading" AND no interest to be paid on withdrawals.

I'd made the point about repaying ATM withdrawals quickly. My interest rate is actually 21.9% (bad risk obviously) but I still only paid about £1 in interest in a 2 week trip last year.

Plus, I'd rather lose or get a credit card stolen than my debit card. If your bank account is emptied (by someone other than you), would you get your money back?