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

[Jules]

Most do and they also advertise the fact that they do as well

[Waspman]

But some do charge 2% commission on credit cards.  Does anyone know who charges commission on credit cards and who does not?

[tonyco1]

Credit Cards are a good back-up, but we won't use them  except as a back-up.
As a general rule - cash rules - cards we have as insurance.
Cards always cost you somewhere.

[Waspman]

Incorrect Tony, The right credit card (Post Office, Nationwide etc.) can cost a lot less than paying cash as the exchange rate is always better, that is as long as the restaurant doesn't charge 2% commission.

If you have one of these "zero overseas charges" credit cards try it out, I've always found it to be much better exchange rate than in Agios Stefanos.

[YANNIS26]

Some facts about the Post Office online exchange rates.
1 The Post Office have won the best foreign exchange company award for the last 3 year (British Travel Awards)
2  If you purchase currency online from the P.O using a Post Office Credit card there are no card charges.
3 Purchases made abroad with a Post office credit card do not attract a card charge.
I hope this helps.This system will save you at least 2.5% on all transactions when using other credit or debit cards.
Yammas
Yiannis

[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]

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.

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.

[YANNIS26]

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

Thanks for that Jimbo.You learn something new everyday.
Yammas
Yiannis

[tonyco1]

yes - I'll go with that - however my bank HSBC do a scheme (Advantage), with lots of goodies thrown in,
it's £12 a month and you get a good world-wide Annual Travel Insurance for the family, Car recovery (any vehicle you are in), no foreign transaction charges on your cards,
better interest rates for saving accounts, Life insurance cover, ID theft insurance, Card Protect and  lots of discount leisure offers.

It works out well for us and I don't get charges just like the Nationwide Card. Also 0% interest on currency - again - that's a lottery - but at today's rates,
having spent so much on the holiday, why worry about a few pence saving on currency anyway?? I go for convenience these days!

However interesting posts and good info!!

[Jimbo]

I've ordered an Ice card, so will report back eventually on the experience.

[don]

I was thinking of an ice card but cooled on it.

[Jimbo]

Boom Boom!