Bringing pounds to london

Sep 16th, 2009, 02:45 PM
  #1  
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Bringing pounds to london

I am traveling to london and renting an apartment. On arrival the renter wants the balance of the rent which is about 700 GBP in cash or traveller's checks only. This is more than I can withdraw from my bank account at one time through an ATM machine. Trying to find out the best solution, I guess my option is to buy Pounds or Traveler's checks here in Chicago at a major bank and bring them with me. Which would be cheaper to purchase?
Is there a better option?
Thanks, Bill
BSexton is offline  
Sep 16th, 2009, 03:03 PM
  #2  
 
Join Date: Aug 2007
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Short of getting an increase in your withdrawal limit, I think you are in "least worst" territory here. Obviously, traveler's checks would offer some security, but I haven't bought them in so long that I have no idea if they are price-competitive.

You could also bring the equivalent USD and change it to GBP upon landing. This could save you some money, particularly if you go to a shop outside of the airport, where rates are usually better.

Finally, you might check out Travelex and see about ordering your currency online.
travelgourmet is offline  
Sep 16th, 2009, 05:37 PM
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I would ask you bank for an increase in your daily limit. I noticed recently that my citibank limit was raised from $500 per day to $1000. Not something I asked for - or have ever used - but they sent a note about it and it then appeared on the ATM machines.

Barring that, I would bring the minimum amount in US $ and change at a bank in the UK (not at the airport) and pull the rest from your ATM to minimize loss on the rate of exchange.
nytraveler is offline  
Sep 16th, 2009, 05:47 PM
  #4  
 
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Your bank should be able to increase your daily limit. I can do this with a teller at my bank and they enter the limit I want right into their computer at the desk as well as the dates I will be travelling.

So now the catch will be an ATM that won't spit out enough cash. Simply take the max, remove your card and do another transaction. I have never had this fail. If it does... in this day and age there is usually another ATM within a very short walk.

Rob
ParisAmsterdam is offline  
Sep 16th, 2009, 05:52 PM
  #5  
 
Join Date: Oct 2005
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As the others say - have your bank raise your daily limit. As a back up -- carry approx $400 or $500 in US cash. You can probably take enough out of ATMs (w/ your increased daily limit) but if that fails you can top up w/ £250-£300 from exchanging the US$ currency.

If you don't need to exchange the US$ - just take it back home w/ you.
janisj is online now  
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