If I have money to bring with me while I am studying in London, what is the best way to bring it with me?

Question

I want to pay the lowest fee for exchanging currency between the dollar and the pound. Has anyone found a good way to do this as inexpensively as possible?

Thanks

Answer 1

Debit cards!! Search around your new area for the cheapest rates. Watch the news or look online for the rates and watch the trends. Most banks charge a small fee for every withdrawl, so it's best to wait for the best rate you can (if you see a good rate, grab it then, even if you don't need it quite yet) and take out a larger amount instead of daily withdrawls. Leave your account information with your parents if possible. In an emergency have them deposit money into your US bank, and take it out from the Cash machine. It's not cheap to cash a US check!! When you get here open up a bank account and check the fees to transfer money from your US account, sometimes that is cheaper.

Answer 2

What I did was put it in a savings account with Citibank. They have branches and ATMs in the UK, so you can withdraw $$ whenever you want, get the best exchange rate, and never worry about carrying around more than you need and losing it, or having to look for a place that cashes traveller's checks. Just FYI, shopkeepers in London can be real jerks about changing large bills (notes). So try to keep some small notes and pound coins on you. BTW, where are you studying? I graudated from the U. of London.

Answer 3

Probably a MC or Visa debit card. You get the best exchange rate, and if it is lost or stolen you are not liable for charges you didn't make. Almost every store and restaurant in the UK takes Visa and MC, and you can use them at British ATM's when you need cash.

Answer 4

Traveler's checks....plus if they are lost or stolen, they can be replaced

Answer 5

u can do it wiv cards (visa,solo and mastercard)