US ($) Currency Thread 1 (closed - use thread 2)

UnitedFlyer

superdon wrote: »

Anyone know what the dollar is supposed to do over the next few months?

Looks like it will go up, but then again, it could go down. No one knows for sure.

Neoshoegal

We need $$ for our trip later this year. At the moment Crown Currency have special deal for dollars at a rate of 1.9916 but there's a charge (depending on how much you buy)
Details can be found here: http://www.crowncurrencyexchange.com/content/us-dollars.asp

Would that still make it the best deal?

Bokkens

It says call them free on the number supplied and ask for a quote.
Ask for several quotes and then compare those given to other store/travel companies and take it from there.
Cheap is not always best.
Look at returning(cash ) exchange rates for any money you may have left over after your trip.

Neoshoegal

Thanks. Won't be needing any info on returning exchange rates as we've got a few trips to the US planned in the future anyway. So we'll just be going with the best rate we can find.

budgetflyer

To get their (crown Currency) best rates you really need to book well in advance ie 31-40 day specials where there is (aprox 1% handling charge ie aprox 2c in the Pound) or at least 6 - 9 months ahead (no handling charges) otherwise the rates are not spectacular and easily beaten
You are of course locking up savings so lose interest for 6-9 months which could be a 2 or 3 % depending where you save the money.
Exch rates can rise or fall, so its a good way of guaranteeing a rate you are happy with, bearing in mind Murphies law states that the dollar will probably bomb, the day after you do it:rolleyes:

www.thomasglobalexchange.com has marketbeating rates available EVERYDAY.Trouble is they are in London. www.travelex.co.uk are really good too. You can buy off them online, for collection at airport.They will pricematch Thomasexchangeglobal if you notify them and send a cheque back for the difference.
My guide explains exactly how to do this

Crown currency 31- 40 day rate is the "interbank rate"
You can get this rate for drawing out an ATM abroad with no fee with a Nationwide debit card.
Martin Lewis's Spending abroad articles and tables are an often overlooked source of all this info

Neoshoegal

Thanks budgetflyer! I've bookmarked your website :T. We won't travel until the end of September, so I'll keep an eye on all the options.

tinkerbell212

Hi, can anybody tell me where is the best place to buy dollars?

Miss_Cinnabon

Hi i just bought mine from crown currency exchange at a rate of 2.04, this gets delivered in september.

Have u looked at the travel money maximiser yet?

Kyle

dzug

That depends on where you live (there are cheaper places in London then most of the rest of the country) and who you bank with.

If you use the right bank then an ATM in the US is cheapest.

If you use the wrong bank then it's a toss-up between say M&S and using your card.

There are cheap places in London (eg Thomas Global) referred to here from time to time.

RDA

The rates offered by Crown Currency Exchange are interesting in that they are offering forward contracts against the Dollar and Euro which are accessible by punters like us.

The charges appear to be relatively low and mitigate against the loss of interest earned if you commit to a forward transaction today.

I would opt for a contract like this for a portion of my requirements and use the Nationwide debit and credit cards for the remainder.