# Banks rates same day.



## raynipper (Aug 4, 2008)

My wife and I both took out €200 each from an ATM in Portugal within seconds of each other. 

Barclays only charged my wife £179.80 but Nat West charged me £181.77. The actual rate for all of that day was €1.15. We only got €1.112 and €1.101 respectively. 



Looks like Nat West is greedier than Barclays.


Ray.


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## nicholsong (May 26, 2009)

Ray


You did not say if that was today


I usually use Transferwise to pay euros into my Euro account in Poland and then take cash with me instead of using ATMs


I just checked the rates and I would currently get per pound



Euro 1.1615 gross


Euro 1.1566 net of commission.


Quite a difference from what you posted.


Those rates are guaranteed for 24 hours from quote and money arrives within 48 (working) hours from placing order. It is all done online and I pay using my UK debit card details which they retain other than my 3 digit CCV number. Takes me about 60-90 seconds


Works for us.



Geoff


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## raynipper (Aug 4, 2008)

Yes Geoff.
It happened to be 26th. Feb. 2019 at 14.27.
We so rarely use our bank debit cards to withdraw cash. Once a year for my wife and it was just an exercise for me.


Ray.


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## nickkdx (May 26, 2009)

That’s why we use Revolut, change the sterling to Euro when the rates favourable. Yesterday was around €1.17 to the £.


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## Penquin (Oct 15, 2007)

When you take money out you MAY be offered a choice of two options; a debit based on € quoted at the time and another in £ where the actual amount debited depends on exactly when it is applied ( I think it's that way round) but that does make a considerable difference as the rate varies throughout the day. It is called dynamic currency conversion and ALWAYS take in the local currency not eg £ I have just checked that !

I am sure that you knew that and wil confirm whether I am the right way round or the wrong 🤣 )

But if you were deducting 15 minutes apart on the same system it may vary....


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## raynipper (Aug 4, 2008)

Yes Dave.
We were offered the local rate or debited rate and as I said it was almost at the same time as there were two machines. 



Ray.


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## Penquin (Oct 15, 2007)

raynipper said:


> Yes Dave.
> We were offered the local rate or debited rate and as I said it was almost at the same time as there were two machines.
> 
> Ray.


Nat West = thieving scoundrels ?

That sums up my experience with them having had numerous problems with them due to "Bank error in their favour lose £200"

Or "Whoops we have lost £175,000 and have bounced your cheque for Probate as we applied someone else's signature"


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## rael (May 1, 2005)

Have been using Transferwise and its by far the best rate, you get the actual official rate, not some made up bank rate, so no shocks later as you've already bought the Euros. You also have a Euro bank account at no extra charge which is useful. Downside is there is a low limit on cash withdrawals, but these days thats not so important. I also use FairFX but its rate is usually 2/3 points below Transferwise so I'm less inclined to use it now.


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## jiwawa (Jun 22, 2007)

raynipper said:


> Yes Dave.
> We were offered the local rate or debited rate and as I said it was almost at the same time as there were two machines.
> 
> Ray.


Does that mean you DIDN'T elect to be charged in euros? If you elect to pay in £ it will always cost you more because you're paying some middle-man's conversion rate - is that where the difference arose?


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## raynipper (Aug 4, 2008)

No, we both selected the local or Euro rate Jean.


Ray.


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