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The GBP and Euro dropped; think this will work?

Posted by (United States) on

Number 1 from this article. Do you thinkg this will work? We are going to Europe in 3 days. Thoughts?

  1. Ask your hotel to process your stay as a new transaction

This won’t work if you’ve already checked out, but if you’re currently staying at a hotel and you’ve authorized your card with a deposit at check-in, ask the hotel to process your final bill as a new transaction, so you don’t end up getting stuck with the less favorable exchange rate that may have been locked in on the date your card was authorized. While most clerks should know how to do this, you might want to pay with a different card than the one you provided at check-in, just to avoid any potential confusion.

Here is the full article: http://thepointsguy.com/2016/06/how-to-maximize-the-improved-british-pound-exchange-rate/

Posted by
4535 posts

Are you saying that if you pre-paid for your hotel, ask them to cancel that transaction and then redo it on check out to get the better exchange rate?

You can always ask, but part of the risk of pre-paying a hotel is that the exchange rate will vary. But pre-paid rooms almost always come with good discounted rates. So you still should come out ahead even if they decline to do that.

Posted by
3161 posts

The euro dropped less than 2% from pre-Brexit. To me it's not worth the hassle of trying to save a few bucks. Of course sterling dropped a bit more. Just accept the fact that you might have already pre-paid at a higher FX rate. If they cancel the pre-pay, it'll be done at current exchange rate. Just enjoy the fact that now you'll be paying less than before the United Kingdom's self-castration.

Posted by
80 posts

Philip: What you're saying is true.

Idk. I might try it, I might not. Depends if I think it's worth the hassle in the present time...but I don't think I will. Just wanted some experienced travelers' opinions.

Posted by
23267 posts

You did not lock in any exchange rate with the deposit. The deposit was exchanged at the rate on the date that the deposit was made. When you pay the balance it will be at the exchange at that moment in time. You would have to have them refund the deposit and then pay the whole bill. Sounds kind of stupid. The savings would not pay for any of your water.

Posted by
300 posts

Even if you got the hotel to refund your deposit to pay your whole bill, the refund would be converted to dollars using the new exchange rate so your refund would be less than you originally paid.

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