Buying USD

photome

Credit_Struggle wrote: »

Didn’t say I was going to Vegas to play poker. You all made an assumption I a degenerate gambler, I was just correcting you.

It’s only jealousy that gets people to act so negatively.

Dont think anyone is jealous, most who responded are regular travellers to the states.


cards are the best option ( i take 4 different ones) Yes ATMs charge $3 is the cheapest in Vegas thats easily accesible, but if withdrawing the maximum allowed it is still way better than buying cash assuming the exchange rate is the same.


I was in Post Office the other day someone bought £300 worth of euros, it was £303 for 310 euros, i looked on my revolut app I would have go 340 euros for the same cost and you are changing 13 times that amount so you can see how much you could lose out

Credit_Struggle

I totally see where your coming from. I have Monzo and Starling and I’m sure both of them would offer much better exchanges.

My caution about it is though I think anything happening with Brexit beforehand will harm the exchange rate.

It is just a gamble I guess on thinking the exchange would be better done now.

Thanks for first non judgemental reply.

Doshwaster

Credit_Struggle wrote: »

Always have taken cash personally. Any issues with a bank card whilst there and you have nothing.

That's why you should always have at least one backup card - from a different bank and never kept in the same wallet/purse. Any issues with cash whilst you are there and you literally have nothing - and most travel insurance policies won't cover anything like £4000 in cash

Credit_Struggle

Thanks for the response. I guess the best bet here (no pun intended) is to take maybe £1500 cash which my travel insurance does cover and the rest split over cards.

Voyager2002

Credit_Struggle wrote: »

My caution about it is though I think anything happening with Brexit beforehand will harm the exchange rate.

It is just a gamble I guess on thinking the exchange would be better done now.

There are two separate issues here:


One is whether it is better to take cash or cards when you travel, and the answer is that cards are almost always better.

The other is about changes in exchange rates. You have a reasonable believe about what will happen to sterling and wish to act on that belief, by buying dollars at todays prices to spend later. Fine: but doing so by buying cash means that all the costs of holding and dealing in cash will make a big dent in anything you gain from being right about the exchange rate.

Personally I separate currency speculation from travel planning. At the moment most of my cash is held in US dollars, but in a dollar account with Fineco bank. Other dollar accounts are available. If you exchange electronic pounds for electronic dollars (and back again later) then you get near-perfect exchange rates. Now, I am not saying that this is something you should do, but if you choose to do it then separate it from your travel planning and do it electronically.

cubegame

Credit_Struggle wrote: »

Didn’t say I was going to Vegas to play poker. You all made an assumption I a degenerate gambler, I was just correcting you.

It’s only jealousy that gets people to act so negatively.

Jealous?

You're going to Vegas....your holiday sounds pretty crap compared to some of the plans and reports posted by people who have tried to advise you.

My advice for Vegas.....great for one night, a struggle for two, too dull for more.

Voyager2002

cubegame wrote: »

Jealous?

You're going to Vegas....your holiday sounds pretty crap compared to some of the plans and reports posted by people who have tried to advise you.

My advice for Vegas.....great for one night, a struggle for two, too dull for more.

While that is my feeling about my own choices, different people have different preferences. I recall a professor of philosophy who would take holidays in Vegas: he enjoyed the intellectual challenge of playing poker seriously.

Credit_Struggle

I’m going to Vegas as you I’ve never done it before. Only so many times you can do Mexico / Canada and all the rest.

I got a deal for £5000 first class with BA including accommodation at the Wynn for 8 nights with breakfast.

All in all for value I think that’s pretty good. My partner use to work in casinos and has always wanted to go there and it’s your birthday.

You may feel it is crap and maybe it will end up being so, but are we not all wanting to have new experiences in life.

Voyager - You’re right regarding electronic dollars, that seems to be the smart move.

EveryWhere

Credit_Struggle wrote: »

I’m going to Vegas as you I’ve never done it before. Only so many times you can do Mexico / Canada and all the rest.

I got a deal for £5000 first class with BA including accommodation at the Wynn for 8 nights with breakfast.

All in all for value I think that’s pretty good. My partner use to work in casinos and has always wanted to go there and it’s your birthday.

You may feel it is crap and maybe it will end up being so, but are we not all wanting to have new experiences in life.

Voyager - You’re right regarding electronic dollars, that seems to be the smart move.

FairFX's current promo might be worth a mention; https://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards/#fairfx1 since it has been highlighted on a recent thread

That should push you over the current exchange rate. You can take out US$1000 per day, at a cost of US$1 to US$2 on the FairFX side. Though it's not clear if that can be done in a single transaction. Check beforehand.
So even if you were charged US$6 in total on a US$1000 withdrawal over there, you'd still be up.

So a couple of those would appear to be a reasonable investment.