Debenhams is well-known in the U.K. for more than just fashion and home goods. It offers foreign exchange and money transfer services through Debenhams Travel Money. You can exchange currency at many locations in the U.K., order online, or send money internationally with Western Union.
While it’s great to access over 60 currencies, some customers are unhappy. They say Debenhams Foreign Exchange has bad exchange rates and poor customer service.
For instance, exchanging 1,000 GBP to euros costs about £20. The exchange rate is 1.124 euros per pound, which is less than the base rate of 1.145 euros per pound. This is true for other currencies too, making users question the service’s value.
A Debenhams review by Monito shows transactions are secure but cost more than other online services. With an average rating of 3.0 stars and 51% of reviews being 1-star, the feedback is mostly negative. This highlights the need to think carefully before using Debenhams for foreign currency exchange or international money transfer.
Overview of Debenhams Foreign Exchange Services
The Debenhams Travel Money service offers many ways to convert currency. You can exchange money at local bureaux de change or order it online for delivery. They have over 60 currencies available, making it easier to manage your travel budget.
The “Click & Collect” option lets you pick up your money at various locations. This is great for those who need cash before they leave.
Debenhams also has a prepaid travel money card in euros and U.S. dollars. It works like a debit card abroad, without extra fees for purchases in the same currency. They also offer a buyback service for unused foreign currency.
But, some customers say Debenhams’ exchange rates might not be the best. For big orders, Debenhams delivers for free. But, smaller orders might cost extra.
While Debenhams has a wide range of services, fees and rates can be higher than other places. If you’re looking to save money, check out this guide for cheaper options.
Review of Debenhams for Foreign Exchange and Transferring Money Internationally
Customers have compared Debenhams’ money transfers to other options. They often find Debenhams’ exchange rates less competitive than Wise and Currencies Direct. For example, exchanging GBP for EUR can cost 2%-9% more than the interbank rate, raising transaction costs.
Feedback on Debenhams’ currency exchange shows customer service issues. Emails get replies in 1-3 business days. Live chat helps quickly during work hours, but delays can happen with currency or transaction issues.
Transferring money abroad with Debenhams means sometimes needing to visit a store. This can be inconvenient. Online services, like those from Wise, can save 40%-70% compared to banks.
Choosing Debenhams for financial services comes with pros and cons. Banks often have less favorable exchange rates. It’s wise to compare different providers to make the best choice for your needs. For more information, check out this Debenhams travel money information.
Alternatives to Debenhams for Money Transfer Services
Looking for alternatives to Debenhams for money transfers? Wise and Currencies Direct are top picks. Wise is known for its real exchange rates and low fees. It’s a smart choice for sending money abroad without breaking the bank.
Currencies Direct has been a leader in the field for over 20 years. They handle over £7.5 billion in transactions each year. With their competitive rates and services for both personal and business use, they offer a great online experience. A wise choice might be Currencies Direct for big transfers, ensuring a good exchange rate without hidden costs.
Other great options include Garton Global Payments and Fexco. They focus on better rates for bigger amounts. By choosing these alternatives, you can avoid the high fees and markups seen in the USA, reaching $7.3 billion in 2019. Switching to Wise or Currencies Direct can make international money transfers much cheaper.
