Gran Alacant Forum

Gran Alacant Forum => General Discussions => Topic started by: mike and judith on February 27, 2015, 01:18.

Title: Euro value
Post by: mike and judith on February 27, 2015, 01:18.

Just had payment made to our Spanish bank.  The exchange rate continues to climb.
I know the pros & cons, but personally, this gets better & better!

Title: Re: Euro value
Post by: Tony Gillam on February 27, 2015, 08:07.

Only if you're buying. If you are looking to sell, it's bad news. I know the UK economy is the strongest and they've only kicked the can down the road on the Greek issue but I'm surprised the £ is as strong as it is.

Title: Re: Euro value
Post by: John H on February 27, 2015, 09:24.

I think it's more a question of how weak the Euro is Tony and the fact that the ECB have at last started to pump some money in hence deflating the Euro.

The spending money is going a lot further, which is nice

Regards all

John


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Title: Re: Euro value
Post by: MikeH on February 27, 2015, 13:34.

Might be a stupid question, but are there any limits/issues with holding a chunk of cash in a non-resident account? We did several years ago when we bought the house but I know there has been lots of financial legislation since. With the Euro so high I’d like to move some money out now in readiness for some home improvements. It’s currently sitting in an ISA earning naff all so I’ll take the rate available now.

Title: Re: Euro value
Post by: John H on February 27, 2015, 19:40.

Hi Mike, good to see you posting on here, love to J

When I wrote the Beetle off a few years ago I just left the insurance pay out in the bank and used it for our spending money over the course of the next few years.......no problems

Regards all

John


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Title: Re: Euro value
Post by: Spurs on February 27, 2015, 20:42.

Hi mike

I have moved a couple of thousand twice before using HIFX no problem at all

Be careful what you carry in cash there is meant to be a £10000 limit on cash leaving the UK but I know some people who have carried more than that amount

Just make sure you declare any interest earnt to the UK taxman as they are now all linked in the EU

Title: Re: Euro value
Post by: Corporal Jones on February 27, 2015, 21:14.

Might be a selfish outlook but the higher the rate the better for most uk homeowners in GA. We've had many years where the rate was very low even reaching near parity,  i for one will enjoy this whilst it lasts.Bear in mind that a lot of non spanish property owners use the euro anyway so no difference for them.What it means for GA is that visiting brits will spend more i know we will. Got 1.3779 today yippee

Title: Re: Euro value
Post by: BeachLife on February 28, 2015, 11:05.

Hi Victor - who did you get that rate with please. With the spot rate not being 1.38 (yet) that means the company you are getting it off is making a loss !

Unless of course they are "hedging" on the currency market - which is of course possible

Fairfx and Moneycorp are both at 1.355 at the moment


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Title: Re: Euro value
Post by: graham on February 28, 2015, 12:25.

Hi. Got 1.367 with Currencies Direct yesterday when bank rate was 1.372.

Title: Re: Euro value
Post by: Corporal Jones on February 28, 2015, 22:10.

Rich just checked my emails the rate i got Thursday afternoon it was actually 1.3777 thats transferring from halifax to sabadell.I dont understand your point about the loss or what a spot rate is sorry, all i know is i send the money one day and it shows online in my sabadell account normally the next day.

Title: Re: Euro value
Post by: Corporal Jones on February 28, 2015, 22:14.

Rich forgot to mention there was also a fee to be paid , on a €2000 exchange the fee was £1.94

Title: Re: Euro value
Post by: John H on March 05, 2015, 19:03.

It's ages since we "bought" any Euros as we use HiFX to transfer straight to the Spanish bank account.
For a holiday we are taking in 10 days we wanted a few Euros.
Spotted in M&S today their exchange rate for their account holder customers was 1.346., rather than searching the High St for the best rated I thought that was a fair rate and I'd take a €1000
Gave him my M&S credit card and ID and said don't charge it to that card I don't want to pay the cash advance charges, he informed me that for bureau de change services you didn't pay any charges, it just appears on your bill as a normal charge!!
Seeing as my M&S bill only arrived today that'll be six weeks before I have to pay, thank you M&S

Regards all

John


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Title: Re: Euro value
Post by: angieanded on May 22, 2015, 11:55.

hi Graham travel fx this morning 1.3738 on the internet

Title: Re: Euro value
Post by: Philndeb on May 22, 2015, 17:12.

I got 1.395 this morning via Nationwide.


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