Selling US Dollars (cash) for Pounds

davem13

I lived abroad for a few years and sold furnishings etc. before leaving, for cash (US$). What's the best way to convert this cash (about $8,000) to Pounds Sterling? Various internet currency trading companies only deal with bank-to-bank transfers and travel companies don't offer a great rate ($1.72/£ was the best rate on offer in my local shopping centre yesterday). Who gives the best rate for cash conversions?

Thanks.

richardw

Sell to friends and family, down the pub, people at work etc, split into smaller amounts.

benjus

richardw's way is best

If you can't do that, try this place:

http://www.ace-fx.com/currency-buy-back-rates

I've used their Canary Wharf branch a few times, and they are currently offering the best rate in the Travel Money Maximiser on this site. If you can't get to London you'll have to send the cash in two batches via secure delivery, which will cost you about £15 IIRC.

davem13

Thank you both for your replies. I went with benjus' suggestion and it worked out great. As he said, I had to split my dollars into two Special Delivery shipments, so as to keep within Royal Mail's maximum insured value of £2500 per shipment. Total cost: £16.40. Shipped yesterday afternoon, delivered to ACE-FX this morning and my account has been credited this afternoon. The one-day delay worked in my favour as the exchange rate improved from $1.628/£ to $1.616/£, so my net gain due to the delay was £36.95 and compared to local options was about £263.

Many thanks!