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Need to purchase British currency from US

Need to purchase British currency from US

Old May 6th, 2015, 07:37 AM
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Need to purchase British currency from US

I was wondering the best way to purchase British pounds before my trip? I will be traveling alone for part of my trip, don't want to go to ATM after long flight.
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Old May 6th, 2015, 07:53 AM
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Your bank can probably arrange it for you unless it is a small local institution. Otherwise Bank of America or Wells Fargo will be happy to do it (and charge you an arm and a leg). Not wanting to go to an ATM is going to cost you.
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Old May 6th, 2015, 08:16 AM
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I don't understand these people who don't want to go to an ATM after a long flight. How are they going to be alert enough to find their way out of the airport (during which they will pass a number of ATMs)? How are they going to be able to find their way into town or check into a hotel?

A bank ATM at the airport is the easiest as well as the cheapest way to get foreign currency.
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Old May 6th, 2015, 08:25 AM
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You have plenty of time to get cash out of an ATM while waiting for your luggage to come off the carousel. There are ATMs right there.

But if you simply can't imagine arriving without £ in hand, you will have PLENTY of time after you check in for your flight at your departure airport. Just walk up to the nearest bureau de change, hand over $150 or so and they will hand you the most expensive ££ you'll have on the entire trip (but a little less expensive than you'd get at you local bank)
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Old May 6th, 2015, 08:50 AM
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Well, if it is the "best way" and absolutely MUST be "before my trip" then I think Janisj has given you excellent advice.
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Old May 6th, 2015, 08:56 AM
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for any initial moneys needed a credit card will pay for just about anything in the U.K. that typical tourists will need to pay for. If you're the type that wants from British coin in your pocket NOW for peace of mind that's fine but if you think it would be at all hard to get British moneys once landing then you're overly worried and as others say it is a snap!

I've never not seen an exchange bank of some type open upon arrival in years of worldwide travels - never ever.
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Old May 6th, 2015, 09:00 AM
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If people don't want to, they don't want to, it's their life. Who cares if you understand them or not. It can be a nuisance, sometimes, actually, first you have to find one and then there may be a long line of people at them.

Depends how much you want, you can always get it at the airport, but with a very high markup, upon departure. Better to try your bank, but there are foreign currency places in most major cities in the US if you live in one. Travelex, etc. YOu can always order it online, also. Travelex will deliver by Fedex for minimum of $250, for which you get 200 euro (minus a $10 delivery fee). YOu should get about 224 euro at todays rate with no markup, so that exchange rate is a loss of about 11-12 pct. That is high, your bank should be better, probably around 7 pct.
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Old May 6th, 2015, 09:09 AM
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>

Why?

Is operating an ATM hazardous with jet lag?

Considering there are numerous ATMs at whatever airport you'll land in, and they won't be trolled by street toughs seeking to rob you, they're the best option for buying pounds.

You can also buy pounds at the airport before you leave for London. You will pay 7-10% more than you'd be charged at the ATM. You can buy pounds from your bank if you're in a major metropolitan area. Even if it's "no fee" your bank will charge you 6-8% above the exchange rate.

So if you fly and go to the ATM on arrival, you'll save money and potentially time.
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Old May 6th, 2015, 09:12 AM
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Christina: I don't think he/she wants Euros.
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Old May 6th, 2015, 09:16 AM
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OK, let's talk about those "exchange bureaus" and how they make their money.

They charge high commission fees when they offer that supposedly "great" exchange rate. Or they charge lower or even "no" commission fees and guess what they do with the exchange rate in that instance?
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Old May 6th, 2015, 09:18 AM
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In the olden days, we used to buy a bit of currency through our local American Express office just to cover taxi and an some sort of lunch to get the blood sugar going.

Then, and only then, did we feel safe to hit an ATM.

Now, we would NEVER bother.

Instead, we put all our energies to having two or more debit/ATM cards ready to go at the airport. We have learned from really "on-top-of-it" companies that they rely on info gathered from those initial hits to keep you secure.

So in other words, when you hit an ATM using something like a Schwab debit, it's like you are calling home to Mom.

So my ultimate recommendation? Work on having a variety of debit/ATM cards instead of the currency
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Old May 6th, 2015, 01:45 PM
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And IME make sure you tell your local bank yes to expect withdrawals from the exact countries you are going to for ATMs and call your credit card company and say the same - otherwise they could block sudden charges from abroad as a security measure.

And be sure your cards are in pristine condition - I once has an ATM card that would not work in some French ATMs but did in others - I assessed that because it had a rather worn strip on the back that some French ATMs were more sensitive than those at my home bank.
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Old May 6th, 2015, 02:14 PM
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Part of the problem is my ATM card is from a very small bank, and it is going to cost my that way as well. I really only want cash at first to tip my driver into town and to get some lunch.....I thought about different bank card options, but that seems bit extreme. I have done this before,but I do tend to get very tired on the long flights. Just didn't want to deal with getting money right off the bat.
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Old May 6th, 2015, 02:24 PM
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>>Part of the problem is my ATM card is from a very small bank, and it is going to cost my that way as well. >Just didn't want to deal with getting money right off the bat.
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Old May 6th, 2015, 03:13 PM
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I really only want cash at first to tip my driver into town and to get some lunch...>

TIP the driver - NO NO NO - as we had a large discussion on this recently everyone in the know says not to tip drivers or tour guides as they already get a living wage with benefits, by law. French folk I believe would think your daft tipping any person in a servile position. And a few U.S. dollars are never spat on.

Tipping in Europe should not happen - you are literally throwing away money - folks in those positions are paid a good wage already. For example we were talking about guided tours in the U.K. and janis who posts above and is an expert about the U.K. said she never saw any tips for tour guides and is just isn't done.

And when Americans tip it drives the locals crazy - and yes folks may work you for tips - nothing to lose and a lot to gain.
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Old May 6th, 2015, 03:15 PM
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Driver? Where are you arriving? If you're arriving solo into Heathrow and going into central London the tube will be much, much cheaper. Even the Heathrow Express will be cheaper for one person.

Also, it is a good idea to have more than one ATM and credit card. You might see if you can join a credit union, which will also get you lower ATM fees.
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Old May 6th, 2015, 05:19 PM
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For a small amount I would just get 100 pounds or so at the airport bureau de change. The rate will be terrible but it takes no time - no foofing around with banks and ordering things and waiting to get them (practically no US banks stock foreign currency). Then head to an ATM as soon as you get to town for more.

But plan on paying for as much as possible with credit cards for best rate of exchange (but do check what your card charges - make sure it's not overcharging you).
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Old May 6th, 2015, 05:21 PM
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Do you have a AAA office in your area? If you are a member or have a friend that is they can get you a 100.00 trip pak. They sell it to members for what they paid plus a small fee. I have a credit union atm card and another bank atm for backup. The credit union card has given me trouble more than once and the bank has no explanation so love my back up card.
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Old May 7th, 2015, 01:31 AM
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Don't worry unduly about exchange rates if all you want is about £100 or so. The difference between the best and worst rates for that amount will probably be enough only to buy you a cup of coffee, or to pay for the gasoline you use travelling to the bank. I like to arrive in a country with a small amount of local currency, and getting it at your departure airport will be worth the small extra expense, and save you time as well.
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Old May 7th, 2015, 02:14 PM
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Heimdall makes an excellent point - then you can just head out of the arrivals hall and into London.
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