I'm a UK resident and my father (not a resident) is visiting us and happen to bring €4000 with him instead of £4000 (yes, you heard that right). And this amount is entirely in cash.
What's the most effective way to exchange to GBP without losing a lot on FX rates?
Post office, local exchange houses and even the banks offer FX rates with a big spread to the mid-market rates seen on XE (just using XE to understand the variation and I'm fully aware that actual rates differ from what is shown on XE).
Could I obtain a prepaid travel card in GBP by paying in EUR? The rates offered are much better for travel card than cash. But not sure if a GBP travel card is something that can be issued or does it have to be a non-GBP travel card?
What's the most effective way to exchange to GBP without losing a lot on FX rates?
Post office, local exchange houses and even the banks offer FX rates with a big spread to the mid-market rates seen on XE (just using XE to understand the variation and I'm fully aware that actual rates differ from what is shown on XE).
Could I obtain a prepaid travel card in GBP by paying in EUR? The rates offered are much better for travel card than cash. But not sure if a GBP travel card is something that can be issued or does it have to be a non-GBP travel card?