John Lewis Currency Exchange Rate Comparison and Reviews

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John Lewis offers competitive currency exchange rates, with a 0.5% margin on most currencies, making it a good option for those looking to exchange money. This margin is lower than some other high-street banks.

Their online currency exchange service allows customers to lock in their rate for up to two years, providing peace of mind and protection against exchange rate fluctuations.

Exchange Rate Comparison

If you're looking to send money abroad with John Lewis, you might want to know how their exchange rates compare to other providers. According to their website, if you convert £1000 to EUR with John Lewis, you could lose almost €15 on each transfer.

John Lewis money transfer rates can be quite high, especially when compared to Wise. For example, if you send £1000 to EUR with John Lewis, you'll get €1,103.10, whereas with Wise, you'll get €1,118.71, saving you €15.61.

Here's a quick comparison of John Lewis and Wise exchange rates for a few common currency pairs:

It's worth noting that these prices were collected on 26/09/2019 and might have changed since then.

Credit: youtube.com, Exchange Rates and Trade

John Lewis Travel Money exchange rates can also be quite high, especially for certain currencies. For example, if you exchange £100 for euros, you'll get €118.24 with John Lewis, which is a relatively good rate.

However, if you're looking to exchange a larger amount, you might want to consider Wise or other providers. With Wise, you can get a better exchange rate and potentially save some money.

For example, if you exchange £1000 for euros with Wise, you'll get €1,118.71, which is a better rate than John Lewis.

Exchange Rate Information

John Lewis' exchange rates are not the cheapest in the industry. According to our research, they can be up to par with other providers, but not always the best option.

If you're planning to send a large amount of money, you could lose almost €15 on each transfer with John Lewis, as seen in the comparison with Wise. This is because they charge hidden fees that are not reflected in their exchange rates.

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The mid-market rate is the true exchange rate, and banks and money transfer providers use it to exchange foreign currencies between themselves. However, they add hidden fees to the rates they give their customers, making it more expensive.

To give you a better idea, here are some examples of John Lewis' exchange rates compared to Wise:

As you can see, Wise often offers a better rate than John Lewis. However, it's worth noting that these rates are subject to change and may not be the same when you make a transfer.

In terms of travel money, John Lewis offers a range of currencies with varying exchange rates. For example, the current rate for euros is 1.1824, while the rate for US dollars is 1.2161. However, these rates may not be the best option for everyone, and you may be able to get a better deal with a different provider.

Reviews and Effectiveness

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Credit: pexels.com, Closeup of USA 20 dollar bills placed on black surface as national currency for business and personal financial operations

John Lewis' exchange rates are usually above average, and their currency deals are better than most other high street suppliers.

You'll need to order your currency online first to guarantee the rate, as the rate offered in-store may be lower if you don't reserve online beforehand.

Their rates are sometimes up to par with other providers in the industry, but not necessarily the cheapest.

Ordering online is key to getting the best rate at John Lewis, so make sure to reserve your currency online to get the rate you want.

Transfer Rate vs Wise

If you send £1000 to EUR with John Lewis, you could lose almost €15 on each transfer.

John Lewis money transfer rates can be quite expensive, especially when compared to Wise.

If you send £1000 to EUR, John Lewis will give you €1,103.10, while Wise will give you €1,118.71. That's a difference of €15.61 in your favor with Wise.

Wise is a more cost-effective option, with savings of €15.61 on a £1000 transfer to EUR.

Here are some specific examples of the transfer rates:

These savings can add up, especially for frequent transfers.

Latest Reviews

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Don't bother ordering currency from John Lewis unless you want high denominations, as most orders for US Dollars are in $50 bills.

Their exchange rates are usually above average, and their currency deals are better than most other high street suppliers, including the Post Office and Tesco.

You'll need to order your currency online first to guarantee the rate, as the euro rate offered in-store may be lower.

John Lewis's online ordering system is a must-use if you want to get the best rate, as it allows you to reserve your euros in advance.

Exchange Rate Effectiveness

John Lewis Travel Money exchange rates are usually above average, and their currency deals are better than most other high street suppliers including the Post Office and Tesco, however you must order your currency online first or you may be given a lower rate in-store.

Their exchange rates are competitive, with some rates being up to par with other providers in the industry. However, it's worth noting that Currencies Direct offers better rates.

Credit: youtube.com, Diving Into Data: Real Effective Exchange Rates

You can get 60 different currencies for free on the next working day, and collect from over 330 locations. This is a convenient option for travelers.

John Lewis Travel Money has a Click and Collect service, but it's not available on Saturdays and Sundays, and you can't use it for orders under £300.

Their rates are set in store and online to ensure customers get the very best rate. This means you can trust that you're getting a fair deal.

Here are some of the exchange rates currently available:

Keep in mind that exchange rates can change, and it's always a good idea to check the latest rates before making a purchase.

Currency Exchange

John Lewis Travel Money offers a convenient way to exchange currencies, both in-store and online. Their exchange rates are openly displayed on their website, and the rates are identical whether you exchange your money in-stores or online.

John Lewis uses HiFX to power their international money transfers, which means you can get a better exchange rate than what's offered by banks. However, it's still important to shop around to find the best rate.

A Variety of Indonesian Currency
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One of the advantages of using John Lewis Travel Money is that you can earn extra points towards Waitrose and John Lewis gift vouchers if you purchase your currency using their trusted brand credit card. This credit card doesn't charge credit card transaction fees or advanced charges for foreign currency purchases.

Here are some examples of exchange rates offered by John Lewis:

It's worth noting that John Lewis offers a range of currencies, with over 60 options available for purchase. You can also collect your currency from over 330 locations nationwide or opt for free next-day home delivery.

If you're looking to exchange a large amount of money, John Lewis offers a competitive rate for payments over £3,000, with no fees charged. However, their Click and Collect service is not available on Saturdays and Sundays, and there's a minimum order value of £300 to qualify.

Pros and Cons

John Lewis Travel Money has a lot going for it. Their services are regulated, secure, and safe.

A close-up of a hand using a payment terminal with currency notes and a money box in view.
Credit: pexels.com, A close-up of a hand using a payment terminal with currency notes and a money box in view.

One of the benefits of using John Lewis Travel Money is the wide range of services they offer, including local and online travel money, foreign currency collection, and bank transfers.

Their established reputation and trusted brand are also major advantages. John Lewis is a well-loved brand by clients.

You can also take advantage of their convenient Click & Collect service, available in up to 300 locations, and immediate conversions in up to 30 locations.

What You'll Love

You'll love the fact that John Lewis Travel Money services are regulated, secure, and safe. This means you can trust them with your money.

One of the things that sets John Lewis apart is the array of services they offer, including local and online travel money, foreign currency collection, and bank transfers. This makes it easy to manage your finances while abroad.

Their established, trusted brand is much-loved by clients, which is a testament to the quality of their services. You can count on them to get the job done.

Click & collect is available in up to 300 locations, making it convenient to pick up your travel money at a time and place that suits you. And, if you're in a hurry, you can get immediate conversions in up to 30 locations.

Disadvantages

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Credit: pexels.com, Isometric image of online money transfer via mobile phones on light background \

The price promise is not available on Western Union services, international bank transfers, or online ordering, which might be a drawback for some users.

Exchange rates are more costly than those offered by other providers, which could result in a higher cost for your travel money.

You can't get a currency card from John Lewis, which might be a hassle for frequent travelers.

They accept credit payments at a 1.5% fee for Visa and Mastercard, which could add up quickly.

The cancellation fee is €20, and refunds are processed within 28 days if you need to cancel your order.

Frequently Asked Questions

What is the best UK to US dollar exchange rate today?

The current GBP/USD exchange rate is 1.2578, making £1000 worth $1257.82. Check the exchange rate history for more information on recent fluctuations.

Ruben Quitzon

Lead Assigning Editor

Ruben Quitzon is a seasoned assigning editor with a keen eye for detail and a passion for storytelling. With a background in finance and journalism, Ruben has honed his expertise in covering complex topics with clarity and precision. Throughout his career, Ruben has assigned and edited articles on a wide range of topics, including the banking sectors of Belgium, Luxembourg, and the Netherlands.

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