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Better exchange rates in Crete?

London
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Better exchange rates in Crete?

We are going to Georgioupolis next week. Just want to know weather you get a better exchange rate over there than in the UK. Also, we have a bunch of US Dollars are they easy to exchange in the resort?

New Zealand
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1. Re: Better exchange rates in Crete?

don't know if this helps but we are organising a cash card - Travelex provide them here in New Zealand. They are a bit like a debit card in the sense that you pop money onto the card and spend it as you need it, using ATM machines to make cash withdrawls. We bought our Euros today as the exchange rate is good and we are able to lock in that exchange rate.

Northants
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for Rovinj, Sissi
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2. Re: Better exchange rates in Crete?

Yes to both questions.

Christchurch, New...
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for South Island
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3. Re: Better exchange rates in Crete?

The travelex card comes with quite high costs. Ordinary old credit cards or bank travel cards are a lot cheaper and there are ATM's everywhere. The exchange rate is quite standard.

Devizes, United...
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4. Re: Better exchange rates in Crete?

Hi there

Generally, you get the best rate by using your regular bank card in the local ATMs. Might only be an extra cent or two but it all helps.

Birmingham
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5. Re: Better exchange rates in Crete?

I would change money in the UK. Most travel agents and the post office dont charge commission but they do in resort and the exchange rate is usually worse. Also be careful about using ATMs as the commission and charges can be crippling unless you have one of the few cards that have 0 charges.

I used an ATM do get out £200 in July and was charged nearly £10 in commission and charges. There will be a charge from the ATM provider and a charge from your card provider. This was with a standard Barclays debit card and most cards have the same charges.

Christchurch, New...
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for South Island
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6. Re: Better exchange rates in Crete?

The card we used in Greece had a $NZ7 fee (3.5 euro) and like all cards a 2% fee on conversion. I checked the rates (which fluxuate almost daily) and they were the same as official exchange rates on those days. When you change in advance uou gamble that the rate is going to drop. It might. However it could go up. It's how some people get rich (or poor!)

Philadelphia
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7. Re: Better exchange rates in Crete?

The Greek banks that provide the ATMS do NOT charge a fee; all the fees come from your issuing card company.

Don't forget the 1% charge that Visa/Mastercard charge for their "clearinghouse" role in currency conversion. There are a VERY few banks (the online bank Capitol ONe is one) who eat that Visa 1% charge, to get people's business (mainly US).

It's my feeling taht those travel-ex cards charge a percentage somewhat ilke the almost-gone traveller's checques -- 1-2% when you buy them and another percent when you get the money.

One of my (greedy) US banks charges $3 per ATM transaction, PLUS 3% (!!!). Thus to get 300 Euros ($450 roughly) costs me $3 + $13.5 = 16.5. Needless to say, this is only my emergency back-up card.

The card I use almost exclusively -- TD Bank in US -- charges NOTHING for up to 10 foreign ATM transactions per month. So the only charge is the 1% Visa clearinghouse fee.

Birmingham
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8. Re: Better exchange rates in Crete?

I am sorry but you are wrong about the ATM providers in Greece not charging. My bank has issued a list of banks they have a co-operation with when you want to use ATMs abroad so that you avoid the charges set by the ATM provider. There are none in Greece however when I was in the USA I used the Bank of America to avoid charges set by US ATM providers. As Barclays has a co-operation with Bank of America each others customers can use cash points when travelling without attracting a charge.

This is a subject I have researched thoroughly as I am loath to give anyone my hard earned cash uless I have to!!!

Caerphilly, United...
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9. Re: Better exchange rates in Crete?

1.11 euros to the pound as of yeaterday

Athens, Greece
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for Peloponnese, Athens
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10. Re: Better exchange rates in Crete?

nikfik,

The Greek banks ATMs DO NOT make a charge. They may not have an affiliation with your bank, but they don't charge anyone. I live here & take money out my UK account daily from various Greek banks, I have never been charged. If your UK card is a Nationwide Flexaccount debit card they don't charge either, so that is the absolute best rate you can get. Visa/commercial rate (between 3-6 cents more to the £), as opposed to the tourist rate for cash or travellers cheques, no charges at all.