We offered the facility for British guests to change their Pounds Stirling into Euros on site or to pay in Stirling with some hesitancy.  We didn’t want people to think we had some  international  scam going.   Quite a number of British guests have taken us up on the offer.

Subject only to our having sufficient Euros on hand, we will exchange your Pounds Stirling  for Euros at the interbank rate shown in the Financial Times.  That’s around £ 1 = €1.08 or € 1 = 93p. with no charge (unlike the banks) for handling your money, counting your money or even for using your money.  In addition or not, depending how you look at it, there will be no commission charge.

Most high street banks and the travel agents (owned by the high street banks) will change money at 2½% off the interbank rate.  That is their profit, most international banks will do it for 1.9% with no commission, so at 2½% the high street banks are doing very nicely thank you.  In addition, you will be charged another 2½% on top for commission making around 5% altogether.

Of course, the Post Office are lovely people, they don’t charge commission, they just knock 5% off the interbank rate instead.

Italian banks are even worse.  Our way, you can save 5% and when we go home, we have saved 5% too.  That’s our version of international co-operation.   There is a scam, but it’s not us that’s running it.