Exchanging USD for foreign currency

[DingDingDao]

Leaving for the UK in a few weeks and I'd like get some pounds before I go, just to have some walking-around money when we get there. What's the best place to go for foreign currency exchange here in the states?

Already spoke with Amex Travel, they charge $5 for cardmembers. Wells Fargo is $5 for non-account holders. ATOT travelers, any suggestions?

 

[MikeyIs4Dcats]

just exchange it there. You will pay less than buying pounds from a bank in the US. You can exchange right at the airport if you want.

 

[FelixDeCat]

Ive always loved funny money. Thanks for the headsup on Wells. I think Ill go in there and ask for some Rubles or Kroners on the next visit.

 

[DingDingDao]

Originally posted by: MikeyIs4Dcats
just exchange it there. You will pay less than buying pounds from a bank in the US. You can exchange right at the airport if you want.

Yeah, I plan to not carry more than a hundred pounds at any point, stocking up at ATMs as I go. But I wanted to have some currency in my pocket when we get there, in case we can't access our cards for some unforeseen reason (broken ATM, card demagnetized, etc. etc.)

 

[spidey07]

AAA is pretty good.

 

[DingDingDao]

Originally posted by: spidey07
AAA is pretty good.

Not a AAA member. Can I still go there?

 

[MikeyIs4Dcats]

Originally posted by: DingDingDao

Originally posted by: MikeyIs4Dcats
just exchange it there. You will pay less than buying pounds from a bank in the US. You can exchange right at the airport if you want.

Yeah, I plan to not carry more than a hundred pounds at any point, stocking up at ATMs as I go. But I wanted to have some currency in my pocket when we get there, in case we can't access our cards for some unforeseen reason (broken ATM, card demagnetized, etc. etc.)

Then take cash.

 

[josh0099]

Just hit an atm at the airport it will be cheaper....

 

[akshatp]

Just go to the Bureau De Change at Heathrow. It will be there as soon as you get through customs at terminal 3, same for terminal 5.

Also, for the best commission free exchange whilst in England, see if you can find a Marks & Spencer (department store). They generally have the going rate, and dont charge commission. There are quite a few of them around.

ATM is also a solid bet, but you will pay the ATM fee to your US bank. UK banks dont normally charge any fees.

 

[DingDingDao]

Originally posted by: akshatp
Just go to the Bureau De Change at Heathrow. It will be there as soon as you get through customs at terminal 3, same for terminal 5.

Also, for the best commission free exchange whilst in England, see if you can find a Marks & Spencer (department store). They generally have the going rate, and dont charge commission. There are quite a few of them around.

ATM is also a solid bet, but you will pay the ATM fee to your US bank. UK banks dont normally charge any fees.

Thanks for the info. Going to be using a Fidelity card for ATM access, since they refund all ATM and foreign transaction fees, so I'm good there.

 

[ReggieDunlap]

If you fly into Heathrow, just buy something using USD. You'll get change at the current exchange rate in British Sterling. Use like a $50 and buy a couple of beers. They'll change you right there.

 

[Turin39789]

Originally posted by: DingDingDao

Originally posted by: akshatp
Just go to the Bureau De Change at Heathrow. It will be there as soon as you get through customs at terminal 3, same for terminal 5.

Also, for the best commission free exchange whilst in England, see if you can find a Marks & Spencer (department store). They generally have the going rate, and dont charge commission. There are quite a few of them around.

ATM is also a solid bet, but you will pay the ATM fee to your US bank. UK banks dont normally charge any fees.

Thanks for the info. Going to be using a Fidelity card for ATM access, since they refund all ATM and foreign transaction fees, so I'm good there.

Thats what I did in Ireland, might be worth a call to check your banks exchange policy, but my local bank refunds all ATM fees and it was very convenient.

Not so convenient when I tried to do the same thing in Argentina and found out they had the entire country blocked. Western Union yay!

 

[orakle]

Another vote for sticking your bank card in an ATM and withdrawing pounds. You'll get hit for a few dollars of service charge from your home bank, but I found the rate to be much better than the currency exchange at the airport.

 

[coolVariable]

Originally posted by: orakle
Another vote for sticking your bank card in an ATM and withdrawing pounds. You'll get hit for a few dollars of service charge from your home bank, but I found the rate to be much better than the currency exchange at the airport.

... or at your local bank branch where they charge you a fee and cheat you on the exchange rate.

 

[Blackjack200]

Originally posted by: orakle
Another vote for sticking your bank card in an ATM and withdrawing pounds. You'll get hit for a few dollars of service charge from your home bank, but I found the rate to be much better than the currency exchange at the airport.

For day to day cash, this is definitely the answer, but if you want to have a small amount of money in pocket ahead of time, the just-in-case money, I would just call around to banks in your area. Some will have foreign currencies, and they'll all have different policies. I would exchange no more than $100.

 

[MixMasterTang]

Originally posted by: Turin39789
Thats what I did in Ireland, might be worth a call to check your banks exchange policy, but my local bank refunds all ATM fees and it was very convenient.

Not so convenient when I tried to do the same thing in Argentina and found out they had the entire country blocked. Western Union yay!

I've only come across a few ATM's in foreign countries that I couldn't withdraw from and would just go to a bank across the street and not have any problems, but I never had any issues in Buenes Aires last year, and I probably used 7 or 8 different ATM's.