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

flang

Yorkshire-Lady wrote: »

Will the American Election improve the dollar rate?
We bought our $'s at 1.85 a while ago, but our daughters will have to wait til we go. (Nov 13th)

Same here i got 1.78 but the rest of my party are still to exchange!!
We are going on the 13th of Nov to Orlando

Yorkshire-Lady_3

flang wrote: »

Same here i got 1.78 but the rest of my party are still to exchange!!
We are going on the 13th of Nov to Orlando

Oh, I wonder if we're on the same plane!?

kittykat23uk

jackieblack wrote: »

I could be wrong, but isn't it 0% foreign transaction fee ( not cash advances) for Abbey Zero?

Sorry, you misunderstood. The 5% transaction fee for CC is levied by the supplier doing the excursions, not the card company. You are correct in that neither Abbey nor nationwide charge levvies for transactions abroad on these cards. Unfortunately I think that the charge by the supplier puts paid to any gain for paying by card rather than cash.

Basically, I'm going to Botswana and Zambia. For ease of use, all the additional excursions on the trip are priced in US$. The most expensive part of the trip will be in Zambia in Livingstone for optional activities around Victoria falls. I understand that the trips can be paid for in the local currency Zambian Kwacha or Botswana Pula or US$ in cash, or by Visa/Mastercard (where they would charge the 5% fee). From what I understand the price in currencies other than US are calculated according to the exchange rate on the day. So basically, I don't know what is best to do, whether to get some dollars now, before I go at this rubbish rate, to withdraw some local currency when I get to Maun on my abbey or Nationwide cards (I already have about £160 is in Pulas but I know I will need more than that and had intended to take some $ as well). Any suggestions gratefully received.

Another confusing thing, perhaps someone can confirm why this is. The pound has stayed pretty much the same rate against the Botswana Pula at about £1= 11 to 13P (I bought mine at just over 11 a few weeks ago when the pound was at around 1.72 against the Dollar). If I put into XE £100 and convert it to pula today, I get a figure of 1,338.10 Pulas (at £1 to 13P approx). If I then convert that figure into US$ to see how much total would be, it comes out at $155.955 then recalculate that back into Uk £ and it comes out at £99.832. Does this mean that the Dollar has strengthened a lot against the pula as well and that my pulas are now worth less than when I bought them?

Thanks!

Jo

Baz_2

kittykat23uk wrote: »

Sorry, you misunderstood. The 5% transaction fee for CC is levied by the supplier doing the excursions, not the card company. You are correct in that neither Abbey nor nationwide charge levvies for transactions abroad on these cards. Unfortunately I think that the charge by the supplier puts paid to any gain for paying by card rather than cash.

Basically, I'm going to Botswana and Zambia. For ease of use, all the additional excursions on the trip are priced in US$. The most expensive part of the trip will be in Zambia in Livingstone for optional activities around Victoria falls. I understand that the trips can be paid for in the local currency Zambian Kwacha or Botswana Pula or US$ in cash, or by Visa/Mastercard (where they would charge the 5% fee). From what I understand the price in currencies other than US are calculated according to the exchange rate on the day. So basically, I don't know what is best to do, whether to get some dollars now, before I go at this rubbish rate, to withdraw some local currency when I get to Maun on my abbey or Nationwide cards (I already have about £160 is in Pulas but I know I will need more than that and had intended to take some $ as well). Any suggestions gratefully received.

Another confusing thing, perhaps someone can confirm why this is. The pound has stayed pretty much the same rate against the Botswana Pula at about £1= 11 to 13P (I bought mine at just over 11 a few weeks ago when the pound was at around 1.72 against the Dollar). If I put into XE £100 and convert it to pula today, I get a figure of 1,338.10 Pulas (at £1 to 13P approx). If I then convert that figure into US$ to see how much total would be, it comes out at $155.955 then recalculate that back into Uk £ and it comes out at £99.832. Does this mean that the Dollar has strengthened a lot against the pula as well and that my pulas are now worth less than when I bought them?

Thanks!

Jo

If you were to pay in dollars what rate are they using? Im assuming they will just convert the price into dollars by multiplying the local currency by some exchange rate. You need to find out how many dollars its costs, how many local currency it costs and the work out what rate they are using. I would imagine they are loading it a little, which would mean paying in local currency may be best.

Using your abbey zero card to withdraw the cash over there as they don't charge a cash withdrawl fee unlike nationwide credit card who will. The nationwide debit card would also be ok to use for withdrawls.

jackieblack

kittykat23uk wrote: »

Sorry, you misunderstood. The 5% transaction fee for CC is levied by the supplier doing the excursions, not the card company.
Jo

Oh, ok - yeah, I did misunderstand -sorry

jmw20

The pound is fighting back. Back up to 1.58 now from 1.52. Come on the pound!!!

jmw20

Also pound is doing very well against NZ and aussie dollar so maybe a trip there is a better choice that the states at the moment.

Froggitt

jmw20 wrote: »

The pound is fighting back. Back up to 1.58 now from 1.52. Come on the pound!!!

Im going to Vegas in December. Although I have dollars left from my last trip at $2, and I bought my hotels a few weeks ago at around $1.85, Im not buying more at the current rate as IMHO the fall in the pound has been overdone. Expect $1.75 by the time we go.

Incidentally, if I cancelled my hotels for a refund, I would end up with a profit on my credit card!!!

kittykat23uk

Baz,

the only prices they are able to give me that are set in stone are listed in US$. I am led to believe that if I were to pay for the excursion in another currency including their national currency than they would work out the price from the US$ price back into their local currency on the basis of the exchange rate on the day of purchase. Sounds a bit a*se backwards to me but I guess they think it is easier for us tourists if everything is priced in dollars!

jmw20

Froggitt wrote: »

Im going to Vegas in December. Although I have dollars left from my last trip at $2, and I bought my hotels a few weeks ago at around $1.85, Im not buying more at the current rate as IMHO the fall in the pound has been overdone. Expect $1.75 by the time we go.

Incidentally, if I cancelled my hotels for a refund, I would end up with a profit on my credit card!!!

Well for both our sakes I hope you're right as i'm off to Nepal in January and need dollars. Have said to myself as soon as they hit 1.70 i'll buy otherwise i'll just wait until the day before I leave and get them at whatever rate they're at. Funny how you are gambling, by buying and gambling by not buying. Funny scenario to be in.