How does a bureau de change make money?

[Big mals fedora]

I'm probably missing something obvious here but how does a bureau de change make money? I travel a lot now and need currency but when you see them advertise 0% Commission 0% Charges etc... What's actually in it for them? I tend to use them as my bank charges each time I withdraw overseas.

I’ve just been on holiday, I got a ‘Monzo’ MasterCard before I went & put most of the money I was takin away, on the card. You can then use this card as a credit MasterCard & pay for all your transactions with it, with absolutely no charges. Can only take out €300 per month from an atm though. I took a bit of cash in euros as well, just in case there were any issues. The beauty being, you are not ripped off changing £ to €, or € back to £. Worked great for us. You also get a text off the Monzo app within a minute of purchasing & it’s really easy to keep track of your spending!

You also get the best rate at the moment you use the card

 

[denislawsbackheel]

I used to like Monzo but it is in dire straits financially and the app goes down to often leaving no access for hours at a time for me.

 

[Big mals fedora]

I used to like Monzo but it is in dire straits financially and the app goes down to often leaving no access for hours at a time for me.

Didnt know about that, this was 1st time I’ve used it so can only go off our own experience. But there are also other, similar travel cards you can load cash onto, then you still don’t get ripped off changing £to€ or vice versa. I’ll definately use a travel card next time I’m away

 

[flook]

I always keep mine till I've spent 'em!!

Me too, in fact I've got about 300 euro from a holiday 5 years ago, it's probably a good time to trade them in as I'm not intending going abroad in the forseeable, bought at about 1.35 if I remember correctly, so cost £222, sell at 0.91 is £273, happy days

 

[peoffrey]

Thanks for all the answers. I’ve not got a business mind so it genuinely puzzled me!

After experimenting, I tend to take sufficient Euros from a high street shop with me and change, where necessary, for Hungarian Forint or Serbian Dinar when I’m over there. €50 a day or similar.

It’s usually a pokey broom cupboard of a shop on my local high street so I can’t imagine their expenses are too high.

 

[sir baconface]

Zimbabwean dollars. Never use anything else.

 

[jimharri]

Surprised the OP can't see the answer.

 

[Blue Mist]

in other words you need a good exchange rate, Euros are traded against the English currency which can be crap...……


I knew it would be Sterlings fault.



I'm here all week folks.

 

[yeseye]

Zimbabwean dollars. Never use anything else.

Ugandan Dollars for me.

 

[jimharri]

Zimbabwean dollars. Never use anything else.

Ugandan Dollars for me.

What do those Nigerian princes use then?