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San Stef Virgin - Where Should We Eat on our First Night ?

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Jimbo:
I'm puzzled by this, frankly. Today's Post Office on-line rate is substantially worse than others. Can somebody explain how if I shrewdly buy Euros at what seems like a good guess at peak conversion rate, which I did last year, I'd be better off using a PO credit card?

I am not being flippant about this. I'd like to see a real example. Last year I bought £1,200 of Euros at the maximum of 1.22 and when we were in Greece the rate was about 1.14 - so I'm finding it hard to believe that  I would have done better than that using a credit card.

YANNIS26:

--- Quote from: Jimbo on June 02, 2011, 02:21:37 PM ---I'm puzzled by this, frankly. Today's Post Office on-line rate is substantially worse than others. Can somebody explain how if I shrewdly buy Euros at what seems like a good guess at peak conversion rate, which I did last year, I'd be better off using a PO credit card?

I am not being flippant about this. I'd like to see a real example. Last year I bought £1,200 of Euros at the maximum of 1.22 and when we were in Greece the rate was about 1.14 - so I'm finding it hard to believe that  I would have done better than that using a credit card.

--- End quote ---
Hi Jimbo
You appear to have got a good deal.Was this a direct comparison or was the currency purchased well before you went to San Stefanos. If this was the case the comparison could be distorted.
Yammas
Yiannis

YANNIS26:
Hi Jimbo
Todays ICE rate 1.114
Todays PO rate 1.104
Would you be charged by your card suplier when buying from ICE.
If you bought from the PO with PO credit card you would not, saving you 2.5%
This could drop the ICE rate to 1.08615
Yammas
Yiannis

Jimbo:
I looked at the rates every day for 8 weeks before we were going and bought when I thought it wouldn't get any better. It's a poker game. So, no, it's not a side-by-side on any one day - it's about squeezing the best you can get out of the gamble. At least if you buy cash at what you guess is about peak rate you're not subject to a sudden dive in exchange rates.

Personally, I don't believe it's true that you get a better rate locally. Not compared to the best rates you can get if you buy judiciously in the UK. Yes - compared to stupid bank prices or TravelEx you may do better but I strongly suspect it won't be that good. 

Jimbo:
Yiannis - No - that's wrong. Direct BACS transfer to ICE costs 0%. No need for debit or credit cards.

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