We receive questions about currency and exchanging money quite often. Bob asked one very similar to questions many people ask:
I have plans to visit the UK in the near future, London to be exact. My concern is if i should convert some of my US dollars to pounds prior to arrival. I have been advised to use my credit card for as many purchases as i can. Should i convert at the airport when leaving the US, or at the airport in the UK? Would it be better to convert at a local bank? I dont think i will need more than 500.00 Pounds. I think that may mean I will be converting close to $1000.00 US dollars to get $500.00 Pounds. Can you advise? Thanks.
Answer:
Bob,
Avoid airports and banks as along with currency exchange booths, as they give you the worst rates. For 500 British pounds you are best off using your ATM card at a ATM in London. Depending on your bank, the charge is similar to using a credit card. Some credit cards are better than others. You may want to call them to compare their fees. A 3% markup with no extra fees is about normal. Mind you will pay an ATM fee too, but even with this fee, the total cost is still lower than exchange booths which charge close to 10%.
gocurrency.com
January 26, 2007 2 Comments
The winter so far has been mild this year in the Northeastern United States and most other places. Things still could change though and winter vacation season will sound a lot more appealing. Maybe the weather is reducing demand because the airfare prices are pretty low.
I looked at fare to these warm places on kayak.com for February:
If your city is not on the list, judging by the above fares you can bet that Florida will be among the most affordable. If you are one of our international readers, feel free to give suggestions for winter vacations and we’ll do a post about those. Email imcafee[at]gocurrency.com.
January 5, 2007 No Comments
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