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YANNIS26:

--- Quote from: Rover on June 02, 2011, 10:26:08 PM ---Doesen't your credit card company define the rate? Taverna charges and gets E50.00, credit card company charges you in Sterling?
[/quote
Hi Rover
You are correct.The credit card company decides the rate you are charged.That is the reason I use my Post Office credit card whenever no commission is charged by the supplier of the product.Be it Taverna or Duty Free.
The rate on the P.O credit card today is 1.1289.No other charges are applied. The rate you see is the rate you get.I have never seen a better exchange rate on currency in Corfu or UK.The best exchange rate for currency I could find today was ICE at 1.114.
I would be intersted to know from anyone in San Stefanos what the current rate is after commission.
Yammas
Yiannis
--- End quote ---

Rover:
Hi Yiannis26
I also use my Post Office card, which charges no fee on 'outside UK' transactions. I also inform them of my travel schedule to avoid potential problems! (They are pleasant to deal with, and you speak to real poeple quickly when you contact them).
I understand that there now other credit cards offering zero mark-up on overseas use - eg Halifax and Saga. I agree that the P.O. card seems to offer the best rate. You can also use it to buy at these rates in the UK, and have the money delivered to your home or local Post Office.(No charge)

Jimbo:
Current Post Office rate is actually 1.1037 - ICE has also dropped to 1.1111

Waspman:
Rover and Yiannis are correct, it is not the taverna that decides the conversion exchange rate it is the credit card provider (Post Office, Nationwide, Saga etc).

If Jimbo pays 50 Euros at a taverna and pays by a “commission free overseas credit card” he will invariably get a better deal, try it next time you're there and you'll see it's correct.

On my last visit to SS in early July 2010 my Nationwide credit card gave me 1.21 to 1.22 Euros to the GBP, much better than the 1.17 Euros to the GBP exchanged in SS or the exchange rate in GB.   

Local rates and on-line exchange rates are irrelevant in this instance

Jimbo:
Jimbo will only get the current rate of the bank. This could be a lot worse than the rate he bought cash for. It's a gamble, isn't it?

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