Scotland ATM's, exchange rates and other such money matters
 

Most advice I hear says do not purchase foreign currency ahead of a trip so I was going to use ATM upon arrival at Edinburgh airport. When I searched for ATM locations on the VISA/Plus network, it does not show that there are any in the airport. That seems to foil my plan. Can it possible be true?? If for some reason we aren't able to use the ATM at the airport, do taxi cabs accept credit cards?

I'm confused by the foreign currency exchange rate. I see on oanda.com the rate is $1USD to .60628GBP but then when I checked out travelex.com the rate is $1USD to .5741GBP. When I go to an ATM will the real exchange rate be somewhere in between? I understand the concept of an institutional rate vs. retail rate.

Thanks in advance for all replies

Travelex is a company that provides foreign money to others for a profit, so of course they are going to have a different rate or they wouldn't be in business. Oanda lists lots of rates, but I guess you are quoting the interbank rate? That shouldn't have profit in it. The ATM rate will be close to the interbank rate, presuming you use a bank ATM, not some forprofit ATM that isn't a bank (not sure if they exist in Scotland or not, they do in some resort areas where I've been).

I don't know what Visa's website says but that isn't the only ATM network around, so I wouldn't care (nor would I presume their website can really keep track of every ATM in the world). I think every airport in the developed world has an ATM in it. They have some before and after the security check and in both arrivals and departures. I think airport shops want people to have money.

Look at the airport's website under cash or currency or something to see what they say
http://www.edinburghairport.com

From the Edinburgh Airport website

"Cash machines (ATMs) are available at various points in the terminal building, before and after security control.

All cash dispensers will accept valid UK bank and building society cards (eg Link affiliated) without surcharge. They also accept major credit cards."

They'll also accept foreign cards with a PIN

The ATMs will dispense Bank of England notes which are accepted in Scotland unlike most ATMs which dispense Scottish notes

I've used cash machines there...here's map of the ground floor which shows you where they are located...

http://www.edinburghairport.com/asse...ecember_08.pdf

Of course there are cash machines at EDI. I've used several different ones -- no need for travelex or other exchange bureaus.

Meant to include: Are you flying in directly to EDI or are you connecting through London? If you are connecting - then you can also hit the cash machines at LHR.

Thanks to all for responding. I'm not really an ATM user so was unsure whether the card would work in another network's machine or not. No stopping in LHR first so will count on everything working as planned. Thanks for links and airport map.

I will stay away from exchange bureaus unless I'm really desperate!

The Plus network is worldwide, you should have no problems with ATMs.

If you are at all nervous, you can always buy £20-£50 at your departure airport.

kXb:
A couple of ATM tips, since you are inexperienced:
1.- Your bank card must have a four-digit PIN; that's "personal identification number".
2. - Do not use a credit card in an ATM except in extreme emergency. Unlike a bank card, money obtained through MasterCard, Visa or whatever is considered a loan and will be charged a huge rate of interest.
3. - Before you go, notify the security department of the bank that issued the card. You should also give your itinerary to whatever credit card company you use.
4. - See if you can get a duplicate bank card as back-up. Better still, set up an account with a different financial institution. Never carry all your cards in the same wallet or bag (and never ever in a backpack.)
5. Photocopy your cards and carry the print somewhere other than your wallet. The copy can help you report a lost or stolen card. And keep a note of the bank's emergency telephone number.
6. - Now relax and have a good time. ATMs have made travel a lot easier.

Southam's points are good reminders. One minor thing - 4 digit PINs are no longer required. They were at one time, but now 5 or 6 digit PINs will work.

By any chance, if your PIN has any letters (some people use a familiar word for their PIN) . . . If so, you don't need to change the PIN, just be sure you know the numeric equivalent (like on a phone pad) A = 1, M and N = 6, etc. The touch pads on most European ATMs only have numbers.

wonderful advice....thank you so much. i have a friend who travels regularly who is fronting us $100gbp so that will help out.

Janisj - You do need a PIN to access cash from an ATM here or am i reading what you have written inciorrectly? you alos need your PIN in most retail outlets.

Apologies for the horrendous typos :)

Where did I say anything about not needing a PIN???

I mentioned that an ATM card's PIN is no longer limited to 4 digits. The rest was about some folks in the States use letters for their PIN because our touch pads usually have letters and numbers. In that case - one needs to know the numerical version of the letters.

"<i>You alos need your PIN in most retail outlets</i>"

Americans don't :) -- we don't have chip and PIN credit cards --we still have to sign . . .

I misunderstood your comment "4 digit mins are no longer required" hence why I queried it. And clearly when I revered to most retail outlets require chip and pin I was referring to the UK. Sure most places will allow you to sign but not all.

"{<i>And clearly when I revered to most retail outlets require chip and pin I was referring to the UK. Sure most places will allow you to sign but not all.</i>"

OK - guess I wasn't clear. I was talking about the UK as well. American non-chip and PIN cards are accepted almost everywhere in the UK -- and we do have to sign. The merchants override the chip/PIN processing and run the purchase differently.

There are a <i>few exceptions</i> like some ticket machines, etc.

I had read that some of the smaller retailers may try to decline processing the chipless/pinless card so hopefully I will have enough cash in those circumstances. What do you do in the case of a ticket machine though???

"<i>I had read that some of the smaller retailers may try to decline processing the chipless/pinless card so hopefully I will have enough cash in those circumstances.</i>"

Most merchants will take the card -- Ones that don't are probably places you wouldn't be using a card anyway (buying a sof drink in s mini market - that sort of thing) . .

"<i>What do you do in the case of a ticket machine though???</i>"

You step a few feet to the nearby staffed ticket window.

haha! i had visions of unmanned ticket machines while in far off places with no human in sight. i have such a vivid imagination apparently....I got a good chuckle out of that, thanks :)