Robbed by a Thomas Cook

Right firstly I’ll put my hand up and admit I was stupid but wanted to share my experience just to warn anyone else who might rush into the same mistake that I did.

I was in a hurry this morning as I realised I forgot someone birthday, oops. They are off to New York next week so I quickly popped into my local Thomas Cook branch to pick up $50 so I could put this into a birthday card.

I stupidly didn’t look at their exchange rate board, however I remember seeing the Sainsbury’s rate earlier was $1.30 (with nectar card) but the queue was long.

I paid for the $ currency on my debit card but when I got home later I studied the receipt and realised Thomas Cook had given me an exchange rate of just $1.19. I phoned them to query this and was told the walk-in rate is “a little bit lower” than if I had reserved online for shop pickup.

To me this is down right daylight robbery. Yes I’m only talking about a few extra pounds but it’s a principle.
Even the airport bureaus, which are normally a big ripoff, were offering a better rate than $1.19

Like I said totally my mistake but I warn my fellow v-flyers to steer well clear of Thomas Cook - I hope they rot in hell and are the next high street chain to go bust. That’s my moan over! I’m usually a very placid & laid back lady

I feel your pain, I shall go and help myself to multiple brochures from the local branch and insert them, immediately, into the paper recycling bin.

I have the impression that almost every foreign exchange bureau is, actively, seeking to rip people off.

It's becoming a quagmire of different rates; are you a Marks and Spencer customer, did you purchase in advance, did you purchase online, are you using your M&S credit card etc.?

Did you purchase online at a very good rate for collection from a physical address that doesn't, actually, exist (discovered in Bristol when searching for exchange rates Sterling to Czech Crowns)?

Do you want to purchase at this special rate because we will buy back any unused currency?

No, the price doesn't include commission.

You get a better rate if you purchase $1000.

Have you got photographic ID and proof of address; we need to make copies of those?

I'll stick with a CaxtonFx card, Virgin AMex and VISA (until 6 July), a bundle of Sterling and a wedge of left over US currency for our next trip.

Oddly, I think the best exchange rates are found in the Cashier Cages in Las Vegas casinos.

NV43 I loved your first paragraph

I normally pre-plan and purchase currency from M&S using my charge card or in person at one of the London ThomasExchange bureaus which offer brilliant rates.

I used to go to M&S but I actually get the best rate from one of the small exchange shops here in Brighton (in imperial arcade)

When I was in London I found Thomas Global Exchange on Victoria Street to have great rates.

I recently got myself a fair fx euro currency card and I saw that they also do next day home delivery of currency too (which can be collected from the post office delivery office if you aren't in) so depending on the rates the week before my next trip I might order through them.

I'm going to get a $ card from them as there are no fees on transactions - I've started to really object to paying 3% on the MBNA Amex and so am looking forward to the Horizon card!

+1 for Thomas Exchange

I buy from them when the GBPUSD rate is looking good, transferring directly to my Lloyds International USD account. If you transfer more than £5000 GBP at at time they give you an even better rate and no transfer charges and its just a quick phone call to organise once you have an account with them.

When in the US I then just use my USD debit card - fee free.

For anyone travelling to the US a lot the LLoyds International account is worth looking at, I've had mine for a couple of years and it was dead easy to open, I had the debit card and internet banking within a week of my application.

This is what I do look at M&S, Virgin Money, Post Office. My best deals have always been the post office. I now order online and they arrive early the next morning. None of the others have been able to match them yet. Happy hunting.

I always Ace-Fx best rates, they also do home delivery

What a rant over what must be a few pounds, over a rate that was displayed in the branch window.
And please don't place brochures in bins, what a waste of paper.
Please lighten up folks.

Agreed Sealink.

It’s not like Thomas Cook are exploiting a monopoly on FX. Every High Street in Britain has multiple places to buy currency and - like with most things - it pays to shop around.

Personally it would never even have crossed my mind to buy currency from a travel agent when it’s readily available at banks, the post office, supermarkets and bureaux de change.

If Thomas Cook couldn’t get away with offering such poor rates they wouldn’t. But clearly they can!

I agree that there really isn't any point in taking away brochures and just dumping them in the recycling. There are plenty more where they came from.

Unfortunately there are many. many people who just assume that they will get the best rate from their travel agent.

No doubt a few people even think they have to get it from the TA they booked their holiday with.

Just like they assume they have to get their travel insurance from the TA as well.

We have to remember that the vast majority of people aren't savvy travellers or shoppers. Look at the numbers of people who have stayed with their utility provider or bank or internet company because they don't realise there are better deals out there.

What a rant over what must be a few pounds, over a rate that was displayed in the branch window.
And please don't place brochures in bins, what a waste of paper.
Please lighten up folks.

Goodness gracious, what an unpleasant response.

Firstly the remark about the brochures was made in jest and a ‘tongue in cheek’ comment. Come on smile

Yes quite right, I was moaning about being ripped off by just “a few pounds” and my post clearly pointed out that I rushed into the nearest currency exchange shop which unfortunately was Thomas Cook.

Being an intelligent and very experienced traveller, I would not normally act so impulsively and as it turned out, stupidly! I always study every aspect of my planned travel with extreme care in order to get the best deal possible. Being retired gives me the time to do that, so that’s why I loathe being ripped off.

Over the years being a member of this forum, I have learnt so many helpful tips and I have shared my own experiences to try to be of assistance. Hence the reason I decided to highlight the issue with Thomas Cook and to warn other folk not to act in haste, like I did yesterday, when buying currency.

My post has been viewed 599 times to date and if I have helped at least one other person then it was worth it. However after being told to chill out and get things into perspective, I shall never bother again.

I paid for the $ currency on my debit card but when I got home later I studied the receipt and realised Thomas Cook had given me an exchange rate of just $1.19. I phoned them to query this and was told the walk-in rate is “a little bit lower” than if I had reserved online for shop pickup.

Must admit I'm not keen on this approach of the walk-in customer getting the worst deal but I suppose Thomas Crooks are maybe just like some other retailers and they treat walk-ins as captive customers they don't need to put much effort into?

Coincidentally, I was in Sainsburys the day before yesterday stocking up on essentials at the tobacco / lottery kiosk when a customer at the adjacent travel money desk asked if he could have the online rate at the desk without pre-order …. the lady said sadly not. He then said what if I order it online now from my phone and come back when I've finished my shopping in the store … can I have the online rate then? She thought a moment and said yes, actually you can …. it just takes about 30 minutes to process through the system and pop out with her!

However after being told to chill out and get things into perspective, I shall never bother again.

Sometimes stuff 'in print' reads a bit differently to how people meant it when they wrote it ….. I've always found this an informative, friendly and helpful forum with the occasional tongue in cheek dig, but rarely anything offensive …. so hopefully you will keep posting as many of us are avid readers yet only occasional posters so the more who post on more topics the better, imho.

"Robbed by a Thomas Cook"
When I read the title, I thought it must be a euphemism, and spent a couple of minutes thinking what it could mean. LOL

When travelling, we usually use Money Saving Expert on-line travel money link. Usually end up using a different company each time, as it is rare that the same company always gives the best deal (except Halifax credit card, which we don't have)

What a rant over what must be a few pounds, over a rate that was displayed in the branch window.
And please don't place brochures in bins, what a waste of paper.
Please lighten up folks.

Goodness gracious, what an unpleasant response.

Firstly the remark about the brochures was made in jest and a ‘tongue in cheek’ comment. Come on smile

Yes quite right, I was moaning about being ripped off by just “a few pounds” and my post clearly pointed out that I rushed into the nearest currency exchange shop which unfortunately was Thomas Cook.

Being an intelligent and very experienced traveller, I would not normally act so impulsively and as it turned out, stupidly! I always study every aspect of my planned travel with extreme care in order to get the best deal possible. Being retired gives me the time to do that, so that’s why I loathe being ripped off.

Over the years being a member of this forum, I have learnt so many helpful tips and I have shared my own experiences to try to be of assistance. Hence the reason I decided to highlight the issue with Thomas Cook and to warn other folk not to act in haste, like I did yesterday, when buying currency.

My post has been viewed 599 times to date and if I have helped at least one other person then it was worth it. However after being told to chill out and get things into perspective, I shall never bother again.

You seem very delicate for someone who posted

I hope they rot in hell and are the next high street chain to go bust.

You are the unpleasant one here.

This is NOT the V-Flyer site I know and love.

Posts wishing a company to rot in hell are fairly new to me too.

However after being told to chill out and get things into perspective, I shall never bother again.

Sometimes stuff 'in print' reads a bit differently to how people meant it when they wrote it ….. I've always found this an informative, friendly and helpful forum with the occasional tongue in cheek dig, but rarely anything offensive …. so hopefully you will keep posting as many of us are avid readers yet only occasional posters so the more who post on more topics the better, imho.

Agreed Tim.

I also read the posts as a momentary frustration at a high street brand that may well have given a walk-in client a break with the exchange rate. Alas no, captive audience that is usually in need, they are going to milk it sadly.

I've never used Thomas cook for currency myself, probably won't, although it will depend on the rate being offered. M&S used to offer some good rates, but I now mostly use the Post Office or the Travelex preorder for airport collection service. It depends on the currency.

Cheers for the heads up Hev, most certainly an account to keep in mind when on the hunt for last minute currency in the future. Definitely keep posting

Thanks for the heads up Hev60. I'm another who uses Moneysavingexpert's site to see who is offering the best rates but that's when I've time to do something, not when I'm rushing to get birthday cash to someone.

I'm with Hiljil that this suddenly seems more like FlyerTalk than V-Flyer.

[honey lamb]

OK, lads and lasses, honey lamb has donned her Mod cloak and is ready to metaphorically rap some knuckles.

Hev60, you are a valued member of this site and I for one, enjoy your posts. I appreciate that your "rot in hell" comment was tongue in cheek but, "Please, won't someone think of the newbies!"

Sealink, dear, lovely, lovely, lovely Sealink! It's not like you to misconstrue something that was tongue in cheek.

Oh and about the brochures comment, I'm forever moaning at work about the serious amount of wastage of paper and I'm inclined to rant about it so I understand where that's coming from but I really don't think that it was a cry to arms!

So guys, kiss and make up metaphorically speaking. We're not Flyertalk!

And if anyone else needs chiding about their comments, consider yourselves chided!

Right folks! *Group hug*

I've never used Thomas cook for currency myself, probably won't, although it will depend on the rate being offered. M&S used to offer some good rates, but I now mostly use the Post Office or the Travelex preorder for airport collection service. It depends on the currency.

I had need of US currency a few days ago and so I did some digging (all were preorder rates for local collection)

M&S 1.2817
Travelex 1.3125
Barclays 1.2617
Thomas Cook 1.2962
Post Office 1.2751

Obvious choice.. I preordered through Travelex for LHR T3 pickup (which can now be done at any of their kiosks - not just the one land side) Result

Here's a fun question.. what USD rates have people seen in their towns?

Here's a fun question.. what USD rates have people seen in their towns?

Hi joeyc, that sounds like an informative and helpful excercise especially for folk heading over to the US in the near future.

However under the circumstances, it might be wiser to start up a brand new post please, rather than adding on to this thread. This one can then be buried into the archives. Never to surface again

ps I would add that last Thursday 14Th June, I travelled up to London and picked up my ‘preordered’ Dollars from Thomas Exchange Global @Liverpool Steeet station getting $1.325.
Now all set for our Florida trip on Saturday

Have a great trip to the Sunshine State , Hev60 and enjoy spending those dollars !