Rachelle2

Hello Everyone!
My husband and I are planning to go to Scotland in August and I'm trying to figure out how to handle our money. Should I exchange our american dollars to pounds before I go? Or should I wait till we're their? I've been trying to figure out atm charges at the banks of scotland but the information on the web is confusing. If anyone has any helpful hints or suggestions, I'd greatly appreciate it! The more money we can save in exchange transfers the better! Thanks!

-Rachelle

GoAway

ATMs are plentiful. My bank charged me only the normal ATM fee for out-of-network withdrawals ($2 in my case). I did get some GBP here before I went over so I had some ready money, but I wouldn't have needed to. By the way, my bank charged me a pretty hefty delivery charge for the GBP, more than the ATM fees would have been. Now, the exchange rate they charged may have been inflated over what you see as the wholesale rate, but probably not any more than the CC charges were.

If you're worried about ATM withdrawal charges, budget your money so you have to do as few as possible. I'm not sure that there's really anything that can be done about the exchange rate.

janisj

This question is asked about 5 times a day -- DO NOT exchange your $ anywhere. Leave your money in your checking account and ust your ATM/Debit card to get £. If you want £50 or £60 on you when you arrive, just exchange a few $ at your departure airport (but I usually don't bother even that)

Scottish banks (and most banks anywhere in Europe) will not charge you anything. The only fees will be charged by your oen bank.

An ATM will give you the best rates by far.

KidsToLondon

The subject has come up many times here, and I think the consensus is clearly do NOT exchange cash, do NOT buy (many) pounds before you go, but DO use ATMs once you arrive in the UK.

ATMs generally give the best exchange rates; any other form of currency exchange will sock you with hefty fees.

Your bank may charge you a fee for using a "foreign" or out-of-network ATM, but these fees are usually $1 to $4 per transaction. In most cases, there is no other ATM fee at the point of use.

FYI: if you are a Bank of America customer, you can use Barclay's Bank ATMs in the UK without a fee.

Keith

Before you go, contact your bank and credit card companies. Let them know you will be using the debit and credit cards in Scotland and have them add a note to your records. Otherwise, their fraud department might see the unusual spending and put a hold on the account.

While you are talking to them, request a number other than the usual toll free number, in case you have to call the bank from the UK.

Ask your health insurance company for a phone number as well.

Before you leave, scan the photo page of your passport and email the image, as well as your credit card info to an email account that you could access in an emergency.

You will be more prepared than 90% of the other travelers.

I hope you have a great time! I was in Scotland last August and loved it.

Keith

Gavin

If you are concerned about the slim chance that you cannot find a working ATM in a timely fashion consider taking some of your home currency with you. It should be easy to find a place to exchange US cash for UK cash in most towns of reasonable size should this be necessary, which it likely won't. Otherwise, as has been said, use your ATM. If you think you will be going back soon keep some pounds for the next trip.

alanRow

<<It should be easy to find a place to exchange US cash for UK cash in most towns of reasonable size>>

Wanna bet, whilst it will be true in the main tourist areas outside of them the choices are limited to SOME Post Offices, SOME Marks & Spencers, SOME travel agents and whilst SOME banks will be able to do it they all have ATMs outside which negates the point of trying to change USD. In any case you'd be limited to shop & bank opening hours.

Rachelle2

THANKS!! So, much for all your wonderful advice! I really appreciate it!

-Rachelle