US ($) Currency Thread 2

teallach

Been lurking for a while, enjoying all the craic and ignoring the moaning faced mods:p
I do have a question now though: In what form does everyone take their money?
With the exchange rates getting better, I've been seriously thinking about changing our money now although we've still got 7 weeks to go:D This is our first time to the US (Florida) as we usually go to the caribbean and we tend to take a 1/4 of our money in cash and the rest traveller's cheques....this time though, I keep reading about the pre paid cards and wonder if they would be better to use? And then, there's our American Express cards that we get airmiles on, should we use them instead and then pay them off when we get back? And how widely accepted is American Express? We've got £2500 put aside for the 2 weeks which includes money for food but park tickets are paid already:j

neilbond007

teallach wrote: »

Been lurking for a while, enjoying all the craic and ignoring the moaning faced mods:p
I do have a question now though: In what form does everyone take their money?
With the exchange rates getting better, I've been seriously thinking about changing our money now although we've still got 7 weeks to go:D This is our first time to the US (Florida) as we usually go to the caribbean and we tend to take a 1/4 of our money in cash and the rest traveller's cheques....this time though, I keep reading about the pre paid cards and wonder if they would be better to use? And then, there's our American Express cards that we get airmiles on, should we use them instead and then pay them off when we get back? And how widely accepted is American Express? We've got £2500 put aside for the 2 weeks which includes money for food but park tickets are paid already:j

Good to see you poke your face on bud!
So many questions, so little time... well, it there would be if I could be bothered to work.
In what form does everyone take their money?
NB - I normally take only a couple of hundred £ in cash and put the rest on my credit card (like you, airmiles!). I don't spend huge amounts (more than £1000) on a normal holiday so the difference between the best rate and my CC rate I don't care about.

With the exchange rates getting better, I've been seriously thinking about changing our money now although we've still got 7 weeks to go
NB - I wish I'd of waited 2 weeks!! The rate at the moment is amazing. Read the experts. They are expecting it to go down before it goes up further. General rule of thumb is to change 1/2 now, and 1/2 when you go to iron out changes too much. But if you're happy with 1.60 (which you should be able to get, go for that).
You've probably seen "Crown currency services" mentioned. Never used them myself but you can get good "future" rates. 1.6350 for about the time you're going -
http://www.crowncurrencyexchange.com/content/us-dollars.asp
I've never used pre-paid cards, or travellers cheques in the US. I'd definitely steer clear of the TC's. The pre-paid cards do charge you though for each transaction so you end up getting large amounts of cash out.
It's whatever you're comfortable with at the end of the day

And how widely accepted is American Express?
I have a US Amex at present. I also have a Visa debit card but have not had to use it yet. Everywhere has accepted my Amex. I've been to the US about 30 times and probably 90% of places do accept Amex. If you're eating somewhere check first. If they don't there will be 100 restaurants round the corner that will accept it. The main people that don't take them are small family run places I've found.

Now you've popped your head up there's no need to step back in to the shadows

teallach

Cheers for that Neil. Can I ask though, why do you steer clear of TC's?


Karen

neilbond007

teallach wrote: »

Cheers for that Neil. Can I ask though, why do you steer clear of TC's?


Karen

I only ever used them when I went to Greece 15 years ago.
I just think that with all the plastic available today (Credit, Debit and Pre Paid cards) they aren't worth the hassle.
Plus I wouldn't have the first clue where to get them changed!

But as I said before, it's whatever you guys feel comfortable with

thatsfabulous

bluffer wrote: »

it may sound silly but look at those new pay cheque advance places, there is one - The Money Shop i walk past on the way home and it was offering 1.60 against american express 1.58. it has consistantly offered a better rate than anyone else i have seen, thomas cook, lloyds etc etc

Ohh right ok, thanks. I'll take a look and see if there is one in my area.

whatusername

teallach wrote: »

Cheers for that Neil. Can I ask though, why do you steer clear of TC's?


Karen

It's each to their own i suppose, personally when i have a holiday budget i convert the lot 1/4 cash remainder TC and then i can keep an eye on what i have left to spend rather than the amount i've spent.

jonathanrichardson69

morning all, 1.6590 this morning, down from a high of 1.6655 at bout 7am this morning.
i think its bout time we heard this again

http://www.youtube.com/watch?v=JvkbFc-th28

jonathanrichardson69

climbing back now. 1.6640!!!!!!!!!

jackieblack

neilbond007 wrote: »

I only ever used them when I went to Greece 15 years ago.
I just think that with all the plastic available today (Credit, Debit and Pre Paid cards) they aren't worth the hassle.
Plus I wouldn't have the first clue where to get them changed!

But as I said before, it's whatever you guys feel comfortable with

I always take some travellers cheques when we go to the US - you don't need to get them changed, most places treat them like cash ie you use them to pay in whatever shop/restaurant and they give you change in cash if the value of the TC is greater than the bill you are paying. I usually take $50 TCs and have never had a problem using them. I have read that some people have found fewer places willing to accept them lately, but I have not experienced this. I've used them in various locations throughout Florida, California, Arizona and in Las Vegas and never had a problem.

What I like about them is knowing the rate I've got at the time I buy them (like cash) but the security of being able to get them replaced easily if they are lost/stolen. I always buy American Express TCs.

On my last trip I did use Credit Cards (Nationwide & Abbey Zero) but was slightly anxious in case the rate dropped hugely while we were there (luckily it didn't!)

I don't like the notion of pre-paid cards in the current climate of recent banking problems, and don't like using ATMs abroad (what happens if the ATM 'eats' your card?!)

ratkarth

i find the best thing is to take a combination, make sure you have enough cash, if going to vegas or soemwhere use to tourists AE travellers cheques and then taking your abbeycard but keeping an eye on the rate
im going to expermient with a fairfx card in september when i go never used one before
is it right you only have to pay if you use it for cash withdrawals but you can pay for it lke a normal debit cards restaurants etc