exchanging currency

[bubbles4920]

is it better to exchange pounds into dollars in the uk or should i wait until i get to the usa?

[Buenchico]

Change a small amount of sterling into dollars before you depart, so that you'll have some cash with you when you arrive. The general consensus, from AB contributors, is that you'll probably get the best rates from Marks & Spencer. If there's no M&S with bureau de change facilities near to you, head for your nearest post office.

Once in the USA, simply use your debit card, at ATMs, to withdraw cash. Many people open a Nationwide FlexAccount specifically for their holiday money, because Nationwide don't charge for overseas cash withdrawals using that card. (There are now several other banks which offer similar accounts). However, even if you use a card where you get charged for withdrawals, you'll still get a better deal than using a bureau de change, either here or in the USA.

Chris

[KARL]

In my opinion, by far the best way to operate abroad is cashless - use your plastic to pay direct, do not take out cash to pay. Obviously there will be a limited number of occasions when plastic is not accepted, but these are very few in the US. Operate the same policy throughout Europe, North America and most countries where large numbers of foreigners pass through, I suggest. A few countries are less safe regarding plastic use, and that would apply pretty well to the whole of Africa, with the possible exception of South Africa when going about it sensibly.

[weeal]

I discovered to my extra cost that if you order currency online, and pay with a Debit or Credit card, there is an extra charge as its classed as a 'cash advance'. I have also been lookin up exchange rates and the Post Office is dearer at the moment, Travelex next cheapest but Bureau de Change was cheapest. Im going to order it there and pay cash to save the bank charges. If you do all your spending over there by plastic, you wont know what exchange rate youre getting every day!

[dzug]

when i was in the us a few years ago all atms charged you for using them.
cheapest was macdonalds restaurants where they only charged you 99cents per transaction.
some banks charged 3 1/2 dollars !!!


The US is not one 'country' in terms of charging - it depends what state you are in. In some you will (probably but not definitely) be charged, in most you should not be (unless in a convenience strore, etc, as here).

[bubbles4920]

thank you very much for your answers, much appreciated. we are actually going to go and live in the states for 2 yrs min so wanted to take some cash in case we needed it to start with and wondered if better to take sterling or to change it here first or over there. would be about �1500.