On Tue, 26 Apr 2005, G.Mizer wrote:

I am traveling to London tomorrow for the USA and was wondering what
your thoughts are on where the best place to exchange money is.

Hi George. Am i right in thinking you're in the US now, and coming to the
UK?

If so, i think your best bet will be to do the exhange in the US, at your
local bank or bureau de change (try several in your town and see who has
the best deal); the rate will be better than places in airports or London
city-centre bureaux, and it'll be a lot easier to do (just being in an
airport or a foreign country makes even the smallest things more
stressful). Plus, you're likely to be able to get a buy-back deal (varies
from place to place), which you can use at your leisure once you return.

However, i second what Tony said - US-issued debit and credit cards
(provided they're Visa or MasterCard/Maestro) should work in UK cash
machines, cash registers, etc, and the exchange rate isn't bad. This is
certainly a hell of a lot more convenient than a wallet bulging with notes
or travellers' cheques.

tom

--
What were the skies like when you were young?

Thanks Tom

And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.

George



Tom Anderson wrote:
On Tue, 26 Apr 2005, G.Mizer wrote:


I am traveling to London tomorrow for the USA and was wondering what
your thoughts are on where the best place to exchange money is.


Hi George. Am i right in thinking you're in the US now, and coming to the
UK?

If so, i think your best bet will be to do the exhange in the US, at your
local bank or bureau de change (try several in your town and see who has
the best deal); the rate will be better than places in airports or London
city-centre bureaux, and it'll be a lot easier to do (just being in an
airport or a foreign country makes even the smallest things more
stressful). Plus, you're likely to be able to get a buy-back deal (varies
from place to place), which you can use at your leisure once you return.

However, i second what Tony said - US-issued debit and credit cards
(provided they're Visa or MasterCard/Maestro) should work in UK cash
machines, cash registers, etc, and the exchange rate isn't bad. This is
certainly a hell of a lot more convenient than a wallet bulging with notes
or travellers' cheques.

tom

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:

And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.

In that case wait until you get to the UK airport and look for an ATM
sign. There should be some near the exit from the customs area. Watch
out for any that charge a fee, though. They are proliferating.
--
Terry Harper
Website Coordinator, The Omnibus Society
http://www.omnibussoc.org

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:

Thanks Tom

And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.

George


You haven't mentioned how much you are going to be exchanging. I have
found that if you are going to be exchanging $5-10K the cheapest way
is to open a no fee GBP savings account at your local bank,

Locally for me, HSBC has a no charge GBP account that I use and the
spread is very minimal to transfer from a dollar account to a GBP
account. I deposit $ to my current account and then transfer it to my
GBP account over the internet, then go into the bank and withdraw GBP
notes with no fee's. Returning what's left over in reverse fashion.

There's a huge number of banks in the states & you didn't mention your
area so I think you'll have to make a few phone calls to find out
which ones in your area offer this service. My experience with the
bank machines is like other posters have mentioned, charges popping up
out of nowhere and a less than favorable exchange rate. esp on
visa/mastercard.

Just my $0.02

Good luck, enjoy your trip.

PS Not sure if ING, ICIC or any of the other internet banks are
convenient for you, but if so, that's where I'd probably start

Once upon a time -- around about 4/29/05 12:29 --
possibly wrote:

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:


And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.


Locally for me, HSBC has a no charge GBP account that I use and the
spread is very minimal to transfer from a dollar account to a GBP
account. I deposit $ to my current account and then transfer it to my
GBP account over the internet, then go into the bank and withdraw GBP
notes with no fee's. Returning what's left over in reverse fashion.
I use this same system at the very same bank. I keep a few GBP so the
account remains open. Then you can get a Switch card to use and that debits
your GBP account directly thereby eliminating any ATM fees as well. It's
rather brilliant and has saved me a fortune in exchange fees.

which ones in your area offer this service. My experience with the
bank machines is like other posters have mentioned, charges popping up
out of nowhere and a less than favorable exchange rate. esp on
visa/mastercard.
Several banks offer this for free (foreign ATMs) but not all. All major
credit cards tack a few percent on now (Amex included) and the rates for
this just increased a few weeks ago. The rate is still better than the
airport. I just keep 30# cash in my wallet and bring it back and forth for
the few expenses before I find and ATM.

-- CMOT

--
I will admit that it is hard to reconcile "I was hungry, and you gave me
food.... " with the policies of recent GOP administrations. -- Frank Palmer