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money exchange

uk
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94 posts
10 reviews
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money exchange

Hey everyone heading out on Thursday morning. We always exchange money once we arrive just a query as to where is best for exchange were taking some euros to get us started but usually just exchange when we arrive thanks in advance

Albufeira, Portugal
Destination Expert
for Algarve, Faro
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47,559 posts
32 reviews
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1. Re: money exchange

Banks do not change money and since almost all the change shops are owned by the same company it's not worth shoe leather to save a cent or two in the pound.

The change counter at the airport offers lousy rates, don't change money there.

You can of course use UK credit and debit cards, which is safer than having a wad of cash to lose and overall the rate of exchange is about the same.

Having said that, if you change your cash money in the UK you will always get about 2% more than doing so here. See the item across to the right under 'Top Questions'.

uk
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94 posts
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2. Re: money exchange

So is there no money exchange in shops or anything

Sunderland
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947 posts
6 reviews
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3. Re: money exchange

I saw one or two in the old town when we were there in August - but as Cubsur has pointed out, the rate was poor compared to what you'll get in the UK. The opening times seemed a bit erratic too.......

As an example - we got €1.24 to the pound at home and the exchange shops Albufeira were offering between €1.20 and €1.22.

west midlands
Destination Expert
for Albufeira
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209 reviews
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4. Re: money exchange

I used moneycorp, ordered online you don't have to pay online pay at the airport I got 1.26€ a month ago, they brought back at 1.28€ I had the money put on a moneycorp card which was used like a Visa card and free withdrawals from cash point

Albufeira, Portugal
Destination Expert
for Algarve, Faro
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47,559 posts
32 reviews
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5. Re: money exchange

Most shops will only accept Euros - why should they do otherwise? Soares off licences and one or two others selling tobacco to British visitors will accept £, but the rate you get may be poor compared to elsewhere.

There are several change shops around town. In summer they are generally open all day every day, but some will soon be closing earlier and a couple do not open on Sundays.

But you if really must deal in cash you will get around 2% more by changing it all in the UK before you leave.

uk
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94 posts
10 reviews
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6. Re: money exchange

I'm not expecting to spend sterling in Portugal but every holiday iv been on there have been places to exchange money from day to day

Kilmarnock, United...
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5,234 posts
18 reviews
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7. Re: money exchange

Hi, it is often reported that the exchange shop on Pingo Doce side at watches roundabout gives the best rate in town. However, on £1000 you`d get around 30-40 euros more with the best travel money card in UK .. you also get slightly more for cash at Post Office or Tesco.

York, United Kingdom
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684 posts
20 reviews
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8. Re: money exchange

The exchange place across the main road from Brisa Sol Aparthotel (just along from McDonalds) give good rates

Edited: 01 September 2014, 12:27
9. Re: money exchange

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Manchester, United...
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for Albufeira
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10. Re: money exchange

I agree with Ian the one facing Brisa Sol hotel gives the best rates.