Buy Euros now or after Brexit?

18
Posted 17th Oct
If anyone has a magical ball, could they look into it and advise me whether to buy holiday money now or later.

Going to Germany in May and know that I can only take in 100 Euros cash so the rest will be on a card. I'm not clued up on Brexit and it's effects. My brain is too addled to take things like that in. Should i buy now or nearer the time?

Thank you for reading this.
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Isn't worth thinking about for €100
18 Comments
If anyone knew the answer they would be rich!

Only you know what you want to do, if you are happy with the rate now then do the exchange now, otherwise wait and see what happens.

You could always do 50 now and 50 after so you spread it.

100 euros is not alot either, so are you really going to see much difference? Your already doing most of your spending on a card after Brexit. If you were changing 1000s then I could see more of an issue with the exchange rate.
Isn't worth thinking about for €100
The difference on 100 euros will likely only be about a max of a pound or two so just get the cash now and have piece of mind.
I'd wait for at least three months.
Not sure where you are seeing a limit of 100 euros according to the Governments website you need to declare anything over 10,000 euros in cash or securities this limit also applies to so called 3rd countries which is what the UK would be come in the event of a no deal.

Personally given that the pounds has had a good couple of days i would be tempted to buy some now so long as the rate offered reflects the increased rates.
plymouthphil196117/10/2019 08:04

Not sure where you are seeing a limit of 100 euros according to the …Not sure where you are seeing a limit of 100 euros according to the Governments website you need to declare anything over 10,000 euros in cash or securities this limit also applies to so called 3rd countries which is what the UK would be come in the event of a no deal.Personally given that the pounds has had a good couple of days i would be tempted to buy some now so long as the rate offered reflects the increased rates.


German visa/travel website on how much money can be brought into the country. I'll find and link when I can.
fern3717/10/2019 08:07

German visa/travel website on how much money can be brought into the …German visa/travel website on how much money can be brought into the country. I'll find and link when I can.


"If the UK leaves the EU without a deal, you’ll need to declare cash of £10,000 or more (or the equivalent in another currency) up to 72 hours before arriving in the UK."
Also unless you are staying for a very long time a visa is not needed. I would probably use a different website form now on.
MIDURIX17/10/2019 08:17

"If the UK leaves the EU without a deal, you’ll need to declare cash of £ …"If the UK leaves the EU without a deal, you’ll need to declare cash of £10,000 or more (or the equivalent in another currency) up to 72 hours before arriving in the UK."Also unless you are staying for a very long time a visa is not needed. I would probably use a different website form now on.


Just read that. Either I can't read monetary values right or I'm going mad as I saw it on 2 websites that I can't find now. Phew!!! Off to rob a bank for the extra 9,900 euros.

But I'm also talking about going from UK to Germany and not the other way.
Edited by: "fern37" 17th Oct
fern3717/10/2019 08:19

Just read that. Either I can't read monetary values right or I'm going mad …Just read that. Either I can't read monetary values right or I'm going mad as I saw it on 2 websites that I can't find now. Phew!!! Off to rob a bank for the extra 9,900 euros.But I'm also talking about going from UK to Germany and not the other way.


"Since 15 June 2007, new legislation on the controls of cash entering or leaving the EU apply in all Member States. Any person entering or leaving the EU will have to declare the cash that they are carrying if this amounts to 10,000 Euros or more"
I think you have the 100 euros thing well wrong. People travel all the time with more than this in their wallet.
Maybe you miss read something about 100 euros worth of something (like perfume) being brought in from outside the EU.
With regards to exchange rates, i truely am doubting that brexit will have even happened by May (funnily because of May)

Crashing out is scaremongering, so the 3 real options are:
1) they are still negotiating which means exchange rates will be similar
2) brexit happens which means exchange rates will likely increase slowely
3) brexit is cancelled which means exchange rates will increase quickly

Unfortunately with everyone wanting their piece of the pie and their 15 minutes of fame, I am thinking option 1 is the likely outcome by May.
It's looking like it's going to get extended until at least January next year so it's likely to jump up and down in value.
Every time it looks like we might actually leave the value of the pound drops so if it does happen I'd expect it to be much lower then current rates.
Just look at the pre and post referendum rates and the drop around the 2008-2009 recession.
Can confirm it's been £10,000 worth of currency for some years now. I have been stopped & asked several times as i only ever take proper money & don't use cards unless it's an emergency.
I would get them today if parliament don’t agree on the deal on Saturday it will go down the pan again
fern3717/10/2019 08:07

German visa/travel website on how much money can be brought into the …German visa/travel website on how much money can be brought into the country. I'll find and link when I can.


Lol I thought you were serious when I read the answers, but this is a wind up. I must admit you got a few...
I'd get it now. £ will temporarily weaken against the Euro after Brexit IMO. €100 is definitely not the limit as it's far too low, if you are getting a small amount of currency then I wouldn't worry.
Spendz spendz it all now on sausages and steins of beer fernz zey will have run outzs by zen

Buy GOLD! LOTS OF IT!
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