Buying USD $ now ?

dooper

If i happened to be going to the USA on hols and i had a debit card which gave me the best exchange rate with no withdrawl fees (nationwide) would it be worth my while stockpiling US dollars as the exch rate is so good???

ManAtHome

Flip a coin... Opinion is split in the finanacial press as to whether the dollar will hover around its current rate or take a dive (more dollars to your pound). Was speculation a few weeks ago that we'd have the $2 pound by now, but for the moment it's hanging on.

Additionally, any cash holdings (dollar or pounds) won't be getting any interest.

thesaint

Am I missing something?
How would you use the Nationwide card to make a withdrawal in US dollars from this side of the pound?

Avoriaz

I would not bother.

Firstly you are tying up money in cash that you might lose, might get stolen and won’t earn interest.

Secondly even the experts can’t agree on what direction the dollar will move.

Thirdly, I don’t use much cash on holiday in the USA. Credit cards are so much easier and very widely accepted even for small purchases.

Fourthly, despite once working for various US companies for over 15 years and going on holiday there about 8 times, I refuse to visit it now until that war mongering !!!!!! Bush leaves office and you should follow my example.

Avoriaz

thesaint wrote:

Am I missing something?
How would you use the Nationwide card to make a withdrawal in US dollars from this side of the pound?

Or even this side of the pond.:rotfl:

By going to a bank or foreign exchange bureau, buying dollars and paying in £sterling with the Nationwide debit card.

He will pay fees to the bank or bureau so I can't explain that bit.