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USA Dollars

mrseyes
mrseyes Posts: 304 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Overseas holidays & travel planning
Went to order some USA dollars from my bank who said that there will a charge involved. But my friends said that if you walk in any high street banks ask them to exchange your £ to dollars and they would do it for free.

Do some banks charges and some don't?

What is the best ways to take money without paying lots of charges and commisions?

As some of you may recall that i won this holidays, my accomodation, flight, and food is all paid for. So i not thinking taking that much (i dont have much anyway!!!), only £250 or less for outings, souvenirs and so on.
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Comments

  • alanrowell
    alanrowell Posts: 5,392 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Did you EVEN attempt to read the sticky entitled "The Cheapest Way to Spend Overseas Discussion Area" which appears at the top of this forum.

    As for "banks exchanging money free", do you think they are a charity or something?
  • prudryden
    prudryden Posts: 2,075 Forumite
    mrseyes wrote:
    Went to order some USA dollars from my bank who said that there will a charge involved. But my friends said that if you walk in any high street banks ask them to exchange your £ to dollars and they would do it for free.

    Do some banks charges and some don't?

    What is the best ways to take money without paying lots of charges and commisions?

    As some of you may recall that i won this holidays, my accomodation, flight, and food is all paid for. So i not thinking taking that much (i dont have much anyway!!!), only £250 or less for outings, souvenirs and so on.

    I understand the Post Office doesn't charge a commission. They get their profit from the difference in the exchange rate they give you. All banks that I know charge a commission AND take the difference on the exchange rate.
    FREEDOM IS NOT FREE
  • consultant31
    consultant31 Posts: 4,814 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    alanrowell wrote:
    Did you EVEN attempt to read the sticky entitled "The Cheapest Way to Spend Overseas Discussion Area" which appears at the top of this forum.

    As for "banks exchanging money free", do you think they are a charity or something?

    No need for such a sharp reply. The OP asked a question, if you can't answer it, ignore it!

    Lucky you mrseyes, winning the holiday in the first place. A friend and I went to New York at Easter for the first time - it was absolutely wonderful, the best holiday I've ever had. We re-booked for next Easter almost straight away.
    Have a wonderful time!
    I let my mind wander and it never came back!
  • Bennifred
    Bennifred Posts: 3,986 Forumite
    Marks and Spencer usually have a fairly good exchange rate, and they don't charge commision. Have a great time on your holiday!
    [
  • vansboy
    vansboy Posts: 6,483 Forumite
    Part of the Furniture 1,000 Posts
    Most travel agents don't charge actual commision, but it's the exchange rate that varies.

    We're going soon to Vegas, Thomas Cook holiday & they give an improved rate, 'cos the sold the holiday to us.

    Maybe whoever sold the prize initially, works the same deal?

    VB
  • notakid
    notakid Posts: 10,362 Forumite
    Part of the Furniture Combo Breaker
    Def Marks and Spencer but take your debit card as well there are plenty of ATM machines around but you will be charged, not too much thru. I've just been and lost myATM card just before traveling and took Dollars and English Money. Its a real hassle to change money over there and the exchange is BAD! I don't know how long you are there for but even thou its cheap out there, money slips through your hands I spent 700 in 4 days and we never really splashed out!
    But if ever I stray from the path I follow
    Take me down to the English Channel
    Throw me in where the water is shallow And then drag me on back to shore!
    'Cos love is free and life is cheap As long as I've got me a place to sleep
    Clothes on my back and some food to eat I can't ask for anything more
  • terrierlady
    terrierlady Posts: 1,742 Forumite
    use your credit card Nationwide is a good one and there are others, we got a good rate on ours plus no extra charges whilst in Florida last month.
    my bark is worse than my bite!!!!!!!!
  • budgetflyer
    budgetflyer Posts: 5,949 Forumite
    Order via travelex.co.uk and pick up at airport. THEN CLAIM CASHBACK.
    My guide tells you how
  • mrseyes
    mrseyes Posts: 304 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    alanrowell wrote:
    Did you EVEN attempt to read the sticky entitled "The Cheapest Way to Spend Overseas Discussion Area" which appears at the top of this forum.

    As for "banks exchanging money free", do you think they are a charity or something?

    How dare you get on here and be so rude I don't understand your mentality.

    Thanks god there lots of nice people out there who have given me an answer i was looking for in a polite manner.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    IMO those who charge a commission would give you a marginally better rate over somewhere that doesn't.
    Either way be sure that you do not 'over' order ie have lots of money left over and you have to change them back as you will lose big time!
    Buying rate from a bank last friday around 1.81 dollars to the £ but they would only give you 2.04 dollars back. 23 cents in the dollar is an awfully large profit margin.
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