Interrailing with two friends from Naples up north to Munich. Still need to decide if we are going to but the interrailing ticket or buy the train tickets locally. Milan to bergamo is something I do often when I visit my grandma and it only costs around ten euros, so may be cheaper to just buy the tickets from the station.
Thanks so much! I’ll most likely look at buying the tickets there then. It would be £95 for three of us to travel on three days on the month so it would be way cheaper to get the tickets individually. I’m guessing they stay the same price, and you can just turn up to the stations and buy them like in the U.K.?
We are planning:
Fly into Naples, out of Munich. Staying for around 14 days.
Is there a site with accurate prices for train tickets?
I also plan to unfreeze and freeze my card so it’s only unfrozen when I use it to avoid scams/money being stolen. Is this a good idea and practical!
Sorrento is the island right? I think one of my friends want to go there, it looks pretty cool!
I’ll be honest, I’m a huge Monzo fan, but a few weeks ago converted a chunk of GBP to EUR on my Transferwise card. I did that as I was prepared to accept the exchange rate of 1.15 and lock in the cash. Monzo is also fee free for spending abroad but you get the exchange rate on the day.
If everything goes pear shaped on 29th March, and the rate plummets, I’ll be quids in. If it goes the other way, I’ll have lost. But I took the decision to fix my rate now.
I’d say the decision you need to make is to risk the rate when you travel (Monzo) or fix a rate (Transferwise).
The only other thing I’d say is never travel with just one card. Take two at least and preferably on different payment networks (Mastercard, VISA, American Express).
If you’re converting on the fly while you’re there obviously I can say which would be cheaper. I prefer to fix and know the exchange rate I’m getting, then if there’s any spare keep it on the card as I’ll be heading back to Europe at some point. But yes, you’d lose if you converted more then you needed and then converted back.
If you convert now, and hold Euros in your TransferWise account, you’ll know exactly how much you’ve spent, and may be easier to budget.
So if you say £500 is €570 now, you’ll be able to spend in Euros when abroad knowing the max you’ll have spent is £500.
If you have some left over, you may actually make some money on it when converting back - It purely depends on how the exchange rate fluctuates between the £ to € conversion, and the € to £ conversion.
If you decide to use your Monzo (or Starling) card abroad, you’ll not know the exact exchange rate at the time of purchase.
Whatever you buy will show up instantly in your app (in both £ and €), but it won’t settle for 2-3 business days, which means you won’t truly know what you’ve spent for this time.
Generally, it doesn’t change much, and if it does, it’s likely to be pennies.
The only time I can imagine a big shift (if it actually happens), is around the deadline for Brexit.
I generally don’t bother converting the money beforehand, but I can see why people would do it now, if they are concerned with the impact of what a “no deal” vote would do to the exchange rate (general consensus is that it will be worse for the £, so £500 may only buy you €500 in a few months time).
Obviously they are examples above, but hopefully that makes it clear.