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J Willhaus

Veteran Member
Time of past OR future Camino
2016, 2022
I just look it up on Google. Best exchange rates are usually at the ATM, however, you have to think about fees and whether your bank and the bank you are drawing from charges. Today the Euro and dollar are equal 1:1, but that does not mean you will get 1:1 after any fees or other charges.
 

trecile

Moderator
Staff member
Time of past OR future Camino
PAST - Francés, Norte, Salvador, Portuguese
Best exchange rates are usually at the ATM, however, you have to think about fees and whether your bank and the bank you are drawing from charges. Today the Euro and dollar are equal 1:1, but that does not mean you will get 1:1 after any fees or other charges.
Exactly. I use the Oanda app, or you can use their website. There's a drop down menu where you can choose the interbank rate, the typical ATM and credit rates, and others. You will never be getting the interbank rate.

oanda 2.jpg
 

TravellingMan2022

Active Member
Time of past OR future Camino
Norte
Exactly. I use the Oanda app, or you can use their website. There's a drop down menu where you can choose the interbank rate, the typical ATM and credit rates, and others. You will never be getting the interbank rate.

View attachment 132371
I use xe.com which seems to be very popular in UK. Like most things on here we have our faves depending on our place residence. As others have intimated it’s nothing more than an overview to get approximations as to where the rates are. You don’t get that rate but it gives you an idea of what ballpark you should be in. Of course what you get depends on what cards you use at which atms and so on. In Spain I can choose to use an ATM that charges me 7 euro or one that doesn’t charge, but of course I need to check that the rate makes that worthwhile. If you are savvy you can ‘save’ at least €10 in a €300 transaction in my experience across the various ‘payment decision’ actions. I.e pay in euro vs pay in home currency.

I also enjoy watching the ‘euro dollar’ daily parity show too!
 
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TravellingMan2022

Active Member
Time of past OR future Camino
Norte
I buy currency (in the UK) through travelfx. Better rates than banks or the PO and ‘special delivery’ to my door.

Only time I regretted it was buying £2k of SA rand for a trip to Namibia. Only had small notes and I ended up with a pack of cash the size of a house-brick.
Yes and I think you can collect at the airport too after buying online which I used quite a lot back in my business travel days!
 

J Willhaus

Veteran Member
Time of past OR future Camino
2016, 2022
In any case, there will be more choice of ATM's and banks in larger towns and none in others so it is good to be mindful of how much cash you may need over the coming days. Those who only follow the arrows and have no guidebook or App may want to check with hospitaleros, experienced pilgrims, or those with guidebooks/Apps.
 
Time of past OR future Camino
PlanFuture(2023)
I use xe.com which seems to be very popular in UK. Like most things on here we have our faves depending on our place residence. As others have intimated it’s nothing more than an overview to get approximations as to where the rates are. You don’t get that rate but it gives you an idea of what ballpark you should be in. Of course what you get depends on what cards you use at which atms and so on. In Spain I can choose to use an ATM that charges me 7 euro or one that doesn’t charge, but of course I need to check that the rate makes that worthwhile. If you are savvy you can ‘save’ at least €10 in a €300 transaction in my experience across the various ‘payment decision’ actions. I.e pay in euro vs pay in home currency.

I also enjoy watching the ‘euro dollar’ daily parity show too!
Thanks, I'll check out the app. I am sure I will be one of those people who will be closely monitoring the rates while overseas. A point here or a point there can make a big difference over the long hall. Thankis
 

C clearly

Moderator
Staff member
Time of past OR future Camino
Most years since 2012
A point here or a point there can make a big difference over the long hall
Are you talking about the withdrawals you might make while walking on, say, a 6 week camino? I am curious how you will use the information. Will you delay cash withdrawals one day in hopes that the rate will be better the next? How much money are we talking about, anyway? It is not how I like to use my mental energy on the camino!
 
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TravellingMan2022

Active Member
Time of past OR future Camino
Norte
Thanks, I'll check out the app. I am sure I will be one of those people who will be closely monitoring the rates while overseas. A point here or a point there can make a big difference over the long hall. Thankis
I would focus on getting the right ‘no fee’ card, taking money out of a ‘no fee’, ATM, and paying in euros not your home currency when using your card than trying to anticipate whether the rate versus the euro will go up or down on a daily basis. Big changes in a small timeframe are quite rare. The £ dropped quite a lot versus € when UK voted to leave the EU 6 years ago (as it was unexpected) and bounced back steadily when we left (as people assumed there would be a much bigger impact) but generally it just bounces up and down within a small window! I have got 1.15 to 1.19 euros to the pound over last month.

The $ is very strong verus the € at the mo which will drive a lot of US folks to Europe but keep European folks from USA!
 
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Molly Cassidy

Travelling light
Time of past OR future Camino
Starting May 2023 from St Jean Pied de Port
Are you talking about the withdrawals you might make while walking on, say, a 6 week camino? I am curious how you will use the information. Will you delay cash withdrawals one day in hopes that the rate will be better the next? How much money are we talking about, anyway? It is not how I like to use my mental energy on the camino!
I think also, if you make the transactions in euros, the exchange rate will be when your bank processes the transaction, which might be several days later.

Of course, if you are planning in advance, it is possible to monitor the exchange rate and buy your euros (at home) when the rate is good and just keep then until your trip.
 

C clearly

Moderator
Staff member
Time of past OR future Camino
Most years since 2012
So as an example, if you withdrew 1000 Euros during the Camino, by close monitoring on your phone and tactics to pounce on ATMs at optimal times, and a lot of luck in doing it all perfectly, you might be able to save up to .04x1000=40 Euros. :rolleyes:
 

TravellingMan2022

Active Member
Time of past OR future Camino
Norte
So as an example, if you withdrew 1000 Euros during the Camino, by close monitoring on your phone and tactics to pounce on ATMs at optimal times, and a lot of luck in doing it all perfectly, you might be able to save up to .04x1000=40 Euros. :rolleyes:
Yep and you can save £40 in 4 transactions with the right card at the right bank and by pressing the Euro button without any guesswork or risk!
 

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