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very enjoyable holiday in South Africa

johnboy59johnboy59
in Not Sports Related
Just come back from a very enjoyable holiday in South Africa however one of the mistakes I made was to buy SA Rand @ 16.3 to the pound and then not use anywhere near the amount of cash I took. Bought the currency at M&S and they will buy it back @ 18.85 which means I will lose about £93.00 on £700.00 which feels a bit of a shafting.
So does anyone have any suggestions on how to reduce the loss or if you are going to SA in the future would you like to purchase 11,550 rand at a rate somewhere between. 16.3 and 18.85 I addition I will throw in some adapters and guide book and advise on where to go

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    ShagShag
    They are ripping you off massive mate . Try somewhere like ace fx or thomas exchange
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    Curb_ItCurb_It
    Thomas Exchange opposite Cannon Street.

    https://www.thomasexchangeglobal.co.uk/
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    SwisdomSwisdom
    I might be going later in the year for work but not guaranteed so don't want to purchase yet.

    Whereabouts did you go? I went to Durban 18 months ago and fell in love with the place. I went out to set up our office over there and had a great time. Met the staff, went to lots of property viewings and drank more than my fair share of Klipdrift!
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    SuedeAdidasSuedeAdidas
    Ace Fx currently buying ZAR @ 17.078
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    Essex_AlEssex_Al
    Curb_It said:

    Thomas Exchange opposite Cannon Street.

    https://www.thomasexchangeglobal.co.uk/

    Did anyone else read that as Thomas sex change?
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    ElfsborgAddickElfsborgAddick
    Essex_Al said:

    Curb_It said:

    Thomas Exchange opposite Cannon Street.

    https://www.thomasexchangeglobal.co.uk/

    Did anyone else read that as Thomas sex change?
    Have you rung them yet lofty?
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    sam3110sam3110
    Have a look at currencyfair.com and weswap.com too, sometimes there's demand for currencies and you might get a better rate that way
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    palarsehaterpalarsehater
    travelmoney max gives you the best buyback rate
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    suzisausagesuzisausage
    We have our SA friends visiting in february so could ask them if they want to buy?

    We changed ours up when we got back, as it was so hard to spend this time last year and came back with wodges of cash (which turned out to be £80 but felt like £800). We bought at 23 rand to the £.
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    The_PresidentThe_President
    Why buy currency before you go if you think you might not use it ?? Don't make sense - after all, a volatile currency like ZAR is going to have a wide spread - just get it out at ATM there.

    I'll give you 18. (after all, you will be helping out a fellow Addick, and not lining the pockets of M&S :wink: )
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    AlwaysneilAlwaysneil
    There is always a huge queue outside that exchange place opposite Cannon Street before every bank holiday or holiday period.

    They must be offering some of the best rates around because people are prepared to queue for at least half and hour to get their money.
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    SwisdomSwisdom
    Alwaysneil said:

    There is always a huge queue outside that exchange place opposite Cannon Street before every bank holiday or holiday period.

    They must be offering some of the best rates around because people are prepared to queue for at least half and hour to get their money.

    I don't get it. A guy at work tells me to go to this place and that place to save a couple of pips when ever it comes to changing currency before holiday. At the end of the day if I end up spending £10 more but don't queue for 20 minutes I know what I would rather do!

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    AlwaysneilAlwaysneil
    Me neither. Debit card and ATM every time for me.
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    eaststandmikeeaststandmike
    I used my debit card when we went to South Africa, no problems at all.
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    iainmentiainment
    First world problems are such a pain aren't they.
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    LuckyRedsLuckyReds
    edited January 2017
    Alwaysneil said:

    Me neither. Debit card and ATM every time for me.

    Metro Bank is cracking for EU travel; no transaction or purchase fees in most of Europe. Combined with Three for mobile phone usage, it makes travel as convenient as going on a day trip in the UK.
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    AlwaysneilAlwaysneil
    As indeed is a debit card, it just costs you an extra fiver a trip.
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    MrOneLungMrOneLung
    Where is best place to buy Brazilian Coffee - Brazil.

    Where is best place to buy a Turkish Carpet - Turkey

    Ergo, Where is best to buy South African Rand.....
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    North Lower NeilNorth Lower Neil
    MrOneLung said:

    Where is best place to buy Brazilian Coffee - Brazil.

    Where is best place to buy a Turkish Carpet - Turkey

    Ergo, Where is best to buy South African Rand.....

    South.
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    MrOneLungMrOneLung
    Not sure if this is a true story but allegedly one of the sales guys at work ordered SAR (Saudi Arabian riyals) instead of ZAR (South African Rand)for a trip to SA for the cricket last winter.

    Easy mistake you may think, but we work for a foreign exchange company !!
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    McBobbinMcBobbin
    MrOneLung said:

    Where is best place to buy Brazilian Coffee - Brazil.

    Where is best place to buy a Turkish Carpet - Turkey

    Ergo, Where is best to buy South African Rand.....

    In my experience the coffee they serve in Brazil is crap. They export the decent stuff
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    The_PresidentThe_President
    In the old days, people always used to get their pesetas/francs before going on holiday because of the sparcity/non-existence of ATM's - maybe that's a legacy that some people have trouble discarding.

    I don't see the point in doing it tbh anymore just to save a few quid in FX fees for them to lose when they come back with unused currency.
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    The_PresidentThe_President
    McBobbin said:

    MrOneLung said:

    Where is best place to buy Brazilian Coffee - Brazil.

    Where is best place to buy a Turkish Carpet - Turkey

    Ergo, Where is best to buy South African Rand.....

    In my experience the coffee they serve in Brazil is crap. They export the decent stuff
    They say the same in SA about their fruit and wine - all the best stuff gets exported - sorta expected really.
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    johnboy59johnboy59
    Thanks to all for your help and advice and especially Curb it got 17.21 from https://www.thomasexchangeglobal.co.uk/ and no need to change sex! reduced my loss from £93.00 to £37.00 so not such an expensive lesson as it could have been
    Thanks Again
    John
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