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

Penny_Forum

I'd welcome any tips or advice about the pros and cons of using cash and/or travellers cheques ($ US not sterling) in the north west and west coast of the USA. For example, how readily accepted are travellers cheques in hotels etc and what fees are likely if I can't find a Bank of America, which won't charge me a fee as it has an arrangement with my own bank (Barclays).

Thank you!

Lazy_Runner

If getting travellers cheques, I personally prefer American Express.
They are better known and therefore better accepted than say Visa or Mastercard.
Amex have more branches I believe than the other two organisations so getting replacements etc is quite easy, not that I ever had to do that.

However these days, I would take some cash for little purchases and a credit card for everything else.

hunsbury0

If you have time, then open a Nationwide Flex a/c which is a current a/c & transfer the funds into that a/c so that you can withdraw cash at the local ATMs

And also get a Nationwide credit card for purchases only.

Nationwide give you a good exchange rate. They do not have any charges !!!

Teahfc

Spend travellers cheques like cash, very very few places will not accept them.

Penny_Forum

Thank you all for the very helpful information.

Taffyscot

def get american express no hassle whatsoever. Do make sure that you keep your passport with you tho as they will ask for it. Also what I tend to do is use my credit card extensively and if you are away a long time go and use an internet cafe and pay off the credit card with the cash from your bank account to make sure that you do not miss the pay date. This way you are not paying crippling ATM charges. Make sure you have the money in your bank and budget so that you are not spending money that you do not have to pay the credit card tho as that can be very dangerous. Taffy

Jetset_House

Hey,

Amex Travellers Cheques are perfect for USA. Shops take them as cash and give you your change in USD and do not charge commission. Most places don't even ask for ID and obviously it is much safer then carrying around cash or cards. You would be better taking mostly cheques and a small amount in currency. Amex will also insure your passports and cards when you take out Travellers Cheques with them.

Depending on when you travel, try and get it now as the Dollar rate is on the way back down. You may still get $2 to £1 if you move quick!

Jetset_House

dzug

Taffyscot wrote: »

This way you are not paying crippling ATM charges.

Unfortunately the 'crippling ATM charges' are actually normally less than the cost (typically 5% on the exchange rate) of buying 'commission free' travellers cheques. Depending on which bank provides your debit card, possibly a lot less.

TCs may well have their place - but not if you are looking to minimise costs.

steveo3002

ive found travelers cheques to be a complete pain unless its a very touristy place like disney, and its a pain having id

get the nationwide card and get cash as you go along..its close to the actual exh rate then , not some rip off travel agent rate

Moncs_2

Going to LA and Las Vegas in July next year, I already have the spending money set aside.

With the US dollar at an all time high, do you think its worthwhile exchanging the money now rather than closer to the time?

Also, if I did exchange it now I would have around $4000, do any UK banks allow you to deposit US dollars?