Purchasing US Dollars - Advice Still the Same?
WonderGame
Posts: 2 Newbie
I have a long holiday in the States very soon (2 months). In the past when I have been there, the advice has always been to purchase any dollars whist in the UK, but given the historically low British pound at the moment, I'm wondering if that advice still holds up?
Assuming that the pound rose at least 5 cents against the dollar whilst I was in the US (which of course there is no guarantee that it would), would it work out better to purchase more currency whilst I was in the States?
Thanks guys!
Assuming that the pound rose at least 5 cents against the dollar whilst I was in the US (which of course there is no guarantee that it would), would it work out better to purchase more currency whilst I was in the States?
Thanks guys!
0
Comments
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Advice has not been to purchase dollars in the UK for many many years
have a read of the travelmoney advice sticky
https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/
get yourself some of the best cards
halifax clarity credit card
Starling bank account debit card (app based)
revolut
to name a few0 -
Leave speculation on exchange rate movements to the forex traders. Avoid the cost and hassle of buying, carrying and using cash dollars. Obtain the best rates without fees on the day by using suitable plastic, as above.Evolution, not revolution0
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Thanks, but I will not be able to get a credit card at the moment and I doubt I will be able to get any other kind of plastic, so my question is if I am going to get dollars is it still best to get them in the UK?
And IF the pound rose by 5 cents while I was there, would that mean that it would be cheaper to buy some while I am there (I can afford to take this gamble)?
Thanks again0 -
WonderGame wrote: »Thanks, but I will not be able to get a credit card at the moment and I doubt I will be able to get any other kind of plastic, so my question is if I am going to get dollars is it still best to get them in the UK?
And IF the pound rose by 5 cents while I was there, would that mean that it would be cheaper to buy some while I am there (I can afford to take this gamble)?
Thanks again
Surely ANYONE can get a prepaid card!
We have no idea how much the dollar will go up or down. Nor do we know how much of a margin the money-changers in the USA will charge compared with those here.And of course you might be somewhere remote, where it is simply not possible to exchange pounds sterling at an rate at all!0 -
Sorry but your questions have not much point, too many variables, and losing 2-4% exchanging cash is just not sensible.
If you use a smartphone and can verify your address, anywhere in Europe, you can open a prepaid Revolut account with card, no credit check. With that you can indulge your inclination to exchange to dollars at any time you think the rate is good, at the prefect interbank rate (weekdays), updated every half second. Or just let the card convert when you use it.
https://revolut.com/Evolution, not revolution0
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