dollars into pounds
 

we are staying with friends in england so we don't have to use our credit card that often but we do need cash . what do you recommend to do to get dollars converted into pounds once we're in england? what method will be the least costly? would bringing cash be wise? thanks for any insight you can give.

Hi P,

Do not bring dollars.

Get any cash you need from an ATM.

Enjoy your visit.

((I))

So we don't reinvent the wheel do a search for ATM on this forum - what you have to do & what it'll cost are pretty much the same through Europe so you don't need a UK specific posting

Keep your dollars in your pocket and use an ATM machine.

Use ATM to get cash and use credit cards for hotels, dinners, etc. Don't use banks or exchange places as they charge commission! Same goes to other European countries.

The european financial system is just as up-to-date and computerized as that in the US. So - you do the smae as here - just pull it from the nearest ATM. Cheap, fast and convenient compared to any other option.

Bring at least 50 euro - in 10,5 and 1 pound notes for your arrival and then get cash from an ATM, as you go, or use your credit card with the lowest exchange rate. Don't forget to call your bank before you go, to advise them that you will be traveling out of the country so that they don't place a lock on your card.

The main branch of your local bank should carry the GBP or you can buy them from sites such as americanexpress.com

Have a great trip!

You certainly do not need to bring any Euros to England with you. You also do not need to get pounds before you leave. ATMs provide the very best exchange rate and are everywhere, including right after you come out of customs at the airport. The only US cash you need is what you will need when you return to the US.

Oops - sorry, meant to say 50 pounds, not Euro. Bringing versus not bringing depends on your willingness to look for an ATM after a longhaul flight, while carrying luggage, etc. Just a convience to me, to have it handy for a cab or bus ride, etc.

Cheers!

thanks to everybody for your good and practical advice. i will definitely check with my n.y. bank and see what the atm story is with them in the u.k. it makes sense that dealing with a machine would be cheaper than dealing with a human being. i know about notifying my credit card companies. what would you say the average service fee your u.s. bank would charge for withdrawing money from an atm in the u.k.? just to get an idea...

well getting euros from a sterling £ account is roughly £1.50 (or free)

If you fly into Heathrow, there are multiple ATMs just across from and just past Starbucks (welcome to Ye Old England) when you exit customs. Just look beyond all the drivers holding up signs with names on them.

My US bank charges me zero for an overseas withdrawal, and the European banks also charge me zero.

don't try t get £1 notes - they were abolished in about 1983 - except for Scotland .

use an ATM, that's what we natives do. Oh and you can also use your ATM card at post offices to get cash.

Many credit cards will charge an addition fee if you use them to get currency in a foreign country. A fair number of exchange bureaus in the centre of London charge no commission.

Avoid Bureaux de Change like the plague. Although it's true that they don't charge any "commission," they use exchange rates that are up to 10% higher than bank ATMs.

You ought to know what your bank charges for ATM withdrawals outside their network, if you have an account there. It should be no different for the UK than for any ATM in the US that is not in your network. My bank also doesn't charge me anything for any ATM withdrawal anywhere outside their own (but I do have a premium account), but I think a typical ATM fee from US banks for that is around $2. B of A is the worst from what I've heard, and charge around $5.

Yes, do check with your bank in regard to fees for ATM withdrawal.

Another thing to remember, although it is fairly obvious, is to withdraw the maxium amount allowed each time you use ATM. I believe it's possible to arrange for larger withdrawals before your departure.

<<< B of A is the worst from what I've heard, and charge around $5. >>>

If a BoA customer uses a Barclay's Bank ATM in the UK then there's no charge.

when you say "B of A" are you referring to Bank of America?