USD cash into GBP

buffman

My daughter is coming back from America having earned about $2000 in cash. What is the best way to convert this into GBP for her to put into her sterling UK bank account. Thanks

stevie11

Well now is probably a good as time as any with the sterling being weak. I would check out the exchange rate from her bank in the UK. There will be other financial institutions that just specialise in currency exchange so worth researching and go for the best rate.

buffman

stevie11 wrote: »

I would check out the exchange rate from her bank in the UK. There will be other financial institutions that just specialise in currency exchange so worth researching and go for the best rate.

UK banks are renown for giving noncompetitive rates. I am looking for a suggestion of somewhere else that exchanges dollar cash.

stevie11

Maybe peeps with experience of that amount will advise but a quick search $2000 is giving £1640 at todays buyback rate of £1.2189. That is a company called Sterling, which is the first one I found, I cannot vouch for them.


The MSE money max best rate today is £1629. So what is your or your Daughters bank offering today?

eDicky

https://travelmoney.moneysavingexpert.com/buy-back

buffman

eDicky wrote: »

https://travelmoney.moneysavingexpert.com/buy-back

Many thanks. The problem with all these is that it appears that I need to post the cash. I do not feel comfortable posting $2000.

Any other thoughts?

EveryWhere

buffman wrote: »

Many thanks. The problem with all these is that it appears that I need to post the cash. I do not feel comfortable posting $2000.

Any other thoughts?

Visit them. You don't need to post. Either you visit or you post. What else do you suggest can happen?
https://www.thomasexchangeglobal.co.uk/exchange-rates-check-exchange-rates.php

Voyager2002

Does she have a US bank account? Could she open one before departure?

To get the best possible exchange rates, you need to use electronic money rather than pieces of paper.

benjus

buffman wrote: »

Many thanks. The problem with all these is that it appears that I need to post the cash. I do not feel comfortable posting $2000.

Any other thoughts?

Royal Mail Special Delivery is about £10 with insurance cover for £2000. That's probably a lot less than what you're saving by using one of these companies instead of a local bank or Post Office.