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Beware

Uk
Level Contributor
30 posts
10 reviews
Beware

Just returned from Cala Bona and if you are changing money over there make sure you use the shops that say no commission. The current rate was 1.20e. We used a proper exchange place opposite the Fantasy Play Park just up from the Cala Bona Hotel that were advertising 1.20e but when we changed £200.00 we only received 205 euros when we disputed this the lady told us the rate was only given to big amounts changed (1000.00). We didn't accept this and asked for the money to be changed back to pounds which she did and we called into the little shop few doors down and received 240 euros for our £200.00.

wirral
Level Contributor
18,926 posts
108 reviews
1. Re: Beware

A timely warning.Thanks for posting.Applies not just in Cala Bona but in all Majorcan resorts.

london
Destination Expert
for Cala Bona
Level Contributor
1,955 posts
6 reviews
2. Re: Beware

Thank you for the warning , i shall make sure i avoid that shop when i go over in about 7 weeks .

Palma de Mallorca...
Level Contributor
3,501 posts
1 review
3. Re: Beware

Well, changing money in the middle of any tourist resort is rarely a good idea (edit: is just begging to get less) - those with "no commission" aren't really any better - you just get a lesser exchange rate.

TANSTAAFL

Edited: 27 June 2012, 20:12
Uk
Level Contributor
30 posts
10 reviews
4. Re: Beware

Mallorcat where do you suggest people get their money changed? Even the hotels were only giving 1.20 euros and our hotel didn't even have the facility.

Palma de Mallorca...
Level Contributor
3,501 posts
1 review
5. Re: Beware

Well, first, you should only need to exchange a few Euros - everything else you can and should use some sort of card for (prepaid or otherwise).

But if you must, a Hotel would be better than an exchanger. The hotel doesn't depend on it and has little to gain. The exchanger makes his entire living from it, so profit is the keyword - and on the beach, you are captive - you have little choice - supply and demand.

london
Destination Expert
for Cala Bona
Level Contributor
1,955 posts
6 reviews
6. Re: Beware

I'm sorry but for once I dissagree , I find places like the tee shirt shop and the travel shop along the front give similar or even better rates than most hotels and don't charge commision . I have normally found cash gets a better rate than cards albeit not by much .

Walsall, United...
Level Contributor
2,802 posts
5 reviews
7. Re: Beware

I also disagree!

As long as you make sure what you'll be getting before you hand any moeny over then the street ones will be way better than the hotel!!!

Hampshire England
Level Contributor
6,608 posts
100 reviews
8. Re: Beware

Any shop that displays the exchange rate and a sign along the lines of "IN YOUR HAND" or "NO COMMISION" will be better than a hotels offerings.

You can also pay in Sterling in Tabacs shops and get a little extra than the exchange rate as well.

Palma de Mallorca...
Level Contributor
3,501 posts
1 review
9. Re: Beware

Well, in reverse, when we go to the UK, I take only few pounds cash.

The rest - I just use my bank card, and use mainly to >purchase< rather than use cash, because the >merchant< pays the fees on purchases. I NEVER waste my money on exchangers, and especially at a tourist resort. I consistently get far better results just doing a withdrawl at a machine. And it's much simpler, too. No time wasted trying to find a decent place to exchange.

But I do use both LaCaixa and Santander, so I get the best possible exchange rate and no fees when I purchase, or take cash using Santander ATMs in the UK.

But that's just me... Your mileage may vary.

Aberdeen, United...
Level Contributor
11,771 posts
13 reviews
10. Re: Beware

I use my santander card too and i have found a lot more places take sterling,

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