When we flew into France last year I was advised to get euros at a certain type atm at CDG. We will be arriving at LHR Monday am. What is the best way to exchange dollars to pounds in London?

Thanks

>>What is the best way to exchange dollars to pounds in London?<<

You don't 'exchange' anywhere. You use an ATM. BTW -- the exchange 'rate' is determined by your own bank/card - not by the machine you get the money out of.

And IF the ATM offers to calculate your withdrawal in dollars -- don't do it. Always deal in the local currency.

I cannot begin to tell you how MUCH I agree with Janisj on this "issue" which never seems tom abate.

Getting money at a "certain type" of ATM might very well refer to the worldwide ATM agreements some banks have with one another that may reduce the amount of any local fees you have to pay.

If, for some reason, you instead decide to use an exchange outlet such as Travelex or others be aware of how they often make their money:

they will charge either a fixed or variable or even "no" commission. They use the commissions to make their profit as well as the exchange rate they offer; the better the exchange rate the higher the commission in some instances.

The best rate is going to be had by using the ATM.

<i>Where To Get Best Exchange Rate</i>

The best: the "black market".

Second best: use an ATM with your debit card.

Are all ATMs the same? I always use a bank ATM, thinking that the ATMs associated with exchange companies will charge me for the withdrawal.

<<Are all ATMs the same? I always use a bank ATM, thinking that the ATMs associated with exchange companies will charge me for the withdrawal.>>

Some exchange companies will hit you. Banks are the safest to avoid that hit.

I haven't changed money in Europe ever. Have only used ATMs. The last time I had an exchange was when I traveled with my oldies WELL more than two decades ago.

I recently converted some New Zealand Dollars and Japanese Yen to other currencies when I was hanging around Heathrow and I used Travelex because they happened to be the closest and I was too lazy to look for other possibilites. The exchange rate was not even close to the interbank rate but I needed to get rid of the bills. There actually are things you cannot do at an overseas ATM.

There used to be various bank owned ATMs at LHR -- but now most (all?) are travelex. BUT they work just like a bank machine -- no fees or mark up. Not like their bureau de change where they set the exchange rate. Just be sure to decline the DCC (calculating the transaction in your own currency)

You can pre-book an exchange through travelex which often works out at a good rate, but..... when you pick up you end up having to enter all the same data again, becuase they will not spend the budget to get an internet system. Sometimes better than ATM esp odd currency.

I'm glad to hear that the travelex ATMs are like bank ATMs. Their exchange windows charge a lot to exchange currency. Of course, like Dukey says, there are things one cannot do at an ATM, like exchange odd currencies. But it will cost you!

Where To Get Best Exchange Rate?

The best: the "black market".

Reminds me of the good ole days of the iron curtain. The "official" exchange rate between East/West German DM was 1 to 1. I recall being able to buy East DM at the Berlin train station for about 5 to 1.

It made for a very cheap day trip to East Berlin, drinking very good, and very cheap beer in the Ratskeller near Alexanderplatz with an East German border guard about to go on duty. His one wish in life was to some day go to Oktoberfest. I don't think he made it to his post on time that night.

I wouldn't use anything but a bank ATM myself as Travelex isn't a bank. But if there isn't any choice at LHR, just beware of DCC as I presume that's how Travelex makes its money (by a lot of travelers punching in that they want it charged in their native currency). Otherwise, what would be in it for Travelex.

http://www.reducedmobility.eu/201210...assengers.html

Think the reference to "a certain type of ATM" probably has to do with the increasing number of non-bank ATMs popping up all over the place.

Okay, thanks so much. I actually phrased my question wrong, however, I now understand Debit Card/ATM.

Thanks,

You may find this website helpful:

http://www.heathrow.com/airport-guid.../cash-machines