Best currency exchange

ellaq1

Does anyone know the cheapest place to buy doallars now that the exchange rate is £1 - $2.004?

Regards

melancholly

https://www.travelex.co.uk is usually the best place - have a look on the main MSE site under travel and there should be an article on it. also, the travel board should cover it too.

Viks

are you looking to change up a large sum or a small sum as this can help.

Biggles

Never buy dollars. Use your credit card when you get over there, preferably a Nationwide credit card or, better still, one of their debit cards.

ILikeFreebies

Biggles wrote: »

Never buy dollars. Use your credit card when you get over there, preferably a Nationwide credit card or, better still, one of their debit cards.

If you have enough time before you need the money, I totally agree with the above. If not, I have found Marks & Spencers and the post office, along with travelex are the most competative. Dispite claims of zero charges, most travel agents offer uncompetative rates travelex in travel agents usually use a significantly poorer rate than stand alone branches.

Unless you end your trip with lots of extra cash which you don't expect to use on a future trip never use free buy back offers. The rates they offer are totally appaling so you're better keeping the money in dollars until you next need some. I once took up a free buy back offer, when I got home I calculated the rate they had used and I was furious:mad:

ILikeFreebies

Martin's advice can be found here:

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1106765397,71685,

daggin68_2

I know people keep saying dont exchange for cash and use your credit card when abroad for best rates.
But..
Im going to Florida in September and am worried that the US dollar may gain strength before i go.
Not sure if to exchange £1000 now as the excahage rate is near as dammit 2.00 wuth some companies.

Or would people hold of and just cards out there and run the risk the exchange rate may of dropped?

Biggles

daggin68 wrote: »

I know people keep saying dont exchange for cash and use your credit card when abroad for best rates.
But..
Im going to Florida in September and am worried that the US dollar may gain strength before i go.

... or it may lose strength....

To look at it another way (assuming you go to the Post Office for your cash, for the sake of argument, who charge 6%), if you have a Nationwide credit card, do you really think the exchange rate could reverse to the tune of >6% or, even if you have a normal (2.75%) credit card, do you really think it could reverse to the tune of >3.25%?

It's a no-brainer, you'll still be better off with your credit card.