Written by Michael Foote, Insurance and Finance ExpertMichael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.
What’s the best way to buy euros?
Whether you are off to Europe for a holiday, purchasing a house overseas or travelling for business, you can save up to 10% when you buy euros online through a foreign exchange specialist, such as those shown on our comparison table. That translates to having an additional 100 euros for every 1000 euros that you buy compared to using a high street bank or a bureau de change at the airport.
Buying euros to use on holiday
Holiday makers are amongst the most likely to pay extortionate fees when buying euros. Banks, airport exchange services and exchange shops on the high street may seem appealing due to their offers of 0% commission but in fact they are charging eye-watering sums which are then disguised by building these charges into the exchange rate you receive. How do they get away with this? Simply put, they know that the average holiday-maker is not up to date on the official mid-market euro exchange rate.
Q: What is the mid-market euro exchange rate?
A: This is the rate that banks buy and sell euros at between one another. This rate is reserved for the largest of financial institutions so whilst you would not expect to buy euros at that rate, it helps to know what it is so that you can get as close as possible to it.
Quote Goat’s mission is to help the nation cut down on unnecessary costs in all areas and when it comes to currency there is certainly a lot of work to be done.
The comparison table above contains live rates from many of the UK’s leading brokers, including exclusive deals which gives you access to the best euro rates around.
How do I order euros online?
The process could not be simpler:
Enter the amount of euros you would like to buy using the table above and you will see live quotes in price order.
Head on through to your chosen broker and place your order. You can then choose whether you have your euros sent to your home or office address or a number of the brokers also offer a variety of locations to collect your currency from.
Enjoy your trip to Europe knowing that you have up to 10% extra to spend while away.