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

lofielectronic

http://forums.moneysavingexpert.com/showthread.html?t=578885&highlight=best+money+exchange+rates

Just seen this thread which mentions several online companies, though no real feedback on any of them...

sloth

www.travelex.co.uk currently doing cable @ 2.0113 and you can pick up from any airport/seaport/eurotunnel on the day you travel. you have to preorder on the website.

have used them several times and are generally the best on price and service

WishI'dReadSooner

Use your Nationwide debit card when you get there - it'll give you the best possible exchange rate. Also use their credit card for purchases ONLY. Don't use the credit card for cash from an ATM.
I've used a few times recently for online purchases & got well over $2 per £ - seems to be near the mid bank rate.

Nationwide don't have ANY fees for using in a foreign ATM. There are also NO HIDDEN FEES - unlike many of the other banks that hide charges of 2.5-5%. They give the best possible exchange rate to you - unlike other banks who claim to do so but hide charges.

My days of exchanging cash for T. Cheques or foreign currency - so someone else benefits - have been long over for many years.

I'm still amazed people even think of taking travellers cheques or foreign cash abroad nowadays with the ready availability of ATMs at all major airports.

marvin

WishI'dReadSooner wrote: »

Use your Nationwide debit card when you get there - it'll give you the best possible exchange rate. Also use their credit card for purchases ONLY. Don't use the credit card for cash from an ATM.
I've used a few times recently for online purchases & got well over $2 per £ - seems to be near the mid bank rate.

My days of exchanging cash for T. Cheques or foreign currency - so someone else benefits - have been long over for many years.

I'm still amazed people even think of taking travellers cheques or foreign cash abroad nowadays with the ready availability of ATMs at all major airports.

But how much is the foreign cash machine charging you? If you find free ones all well and good (usually are free within the EU) but in the states all the cash machines I have used in the past have had a fee for their use.

WishI'dReadSooner

There are many, many free ones available in the US. They ALL have to tell you if there is a fee involved onscreen before you make the transaction. Some that charge just charge a flat fee of £1 or $1.50 per transaction. Often by just crossing the street or going to the next ATM in a mall - often within feet you can get a free one.

I believe the ones from 'Allpoint' & 'Select' are free - the logo should be on them.

I guess you were unlucky - I've only ever once in the last 10yrs paid a $1.50 fee & we go to the US every year to visit family & friends who live all over the US. Of course, if you take out $40 or $50 a time/daily it could get expensive BUT you're allowed the equivalent of £300 a day withdrawel & the Nationwide credit card is useable in every shop, diner etc. - again giving the same great exchange rate.

The EU ones aren't always free. I was horrified when the lady in front of me at an ATM in Tenerife this week used her Nationwide card & then loudly told her husband 'Oh that's great - they converted it into ££'s for me & it just costs me 2.5%!'

Whatever you do - make sure they charge you in their 'local' currency & don't let them convert it to £'s for you! I used same ATM as her but opted for the Euro - so saving myself any charges. Great exchange rate too from Nationwide.

Bargain_Mad_2

Does anybody know the best place to sell $US?

My Mum's just come back from Vegas with $360 and isn't quite sure what to do.. Trade them now before the dollar becomes even cheaper or wait a while.. All suggestions gratefully received

cadmus

voyager7 wrote: »

Someone MUST be able to better this with the current all time high of sterling v dollars. Anyone know any better high street rates? (apart from Thomas Global Exchange - currently an excellent rate of $2.05 which you have to collect in London)

I got a fantastic $2.10 from CROWN CURRENCY EXCHANGE. so for my £1000 im getting $2100 in american express travellers cheques.
the reason they giv u such a great deal is you choose a particular month wen u want your dollars or TCs and the longer you leave it the better the rate you get. they are kind of like a bank that invest your money and thus get a great rate. approx 5% better than any one else !!!!.
they advertise extra speacial rates and march nex year was great for me to have them then and get this super exchange rate .
this company are totally honest and legit and been going for many years and customer service is excellent .
take a look at there site you have nothing to lose but alot to gain !

wyse_2

I have travellers cheques in dollars from a holiday ages ago. I've been holding onto them as the dollar has plunged in value ever since we came back! does anyone think we should continue to hold onto them or should i just cut my losses and take them to marks and spencers to turn them back into UK cash?

And on a similar subject a search in a random box at home found a 50 Deutschemark note! I presume german baks have long since accepted these so what's the best thing to do with it? would a coin collector give anywhere near its value for it?

Andy

dunkmat

If the rate goes up you lose out a bit but I can assure you it won't get much higher.

I've just transferred 10k into my US Bank account via Moneycorp and got 2.06. I am happy with that rate (More Than) and with 4 trips to the US in the next 18 months planned I'm certain I'll be looking back thinking it was a good move.

PS If you do have spare cash the housing market is in turmoil. Just purchased a property that was sold in 2003 for $339,000.00 for $199,000. If you want to buy keep making offers and eventually you'll pick up a real bargain. TIP DOn't buy without knowing the area.

Good website for houses is Trulia.com

alchemista

dunkmat wrote: »

If the rate goes up you lose out a bit but I can assure you it won't get much higher.

How much will you sell me a guarantee that the rate will not go over some much higher limit? If you are so sure, surely you will take money to provide the guarantee?

Please let me know as I'm interested in anyone who can guarantee the rates.