I will be traveling to Scotland later this week. I was wondering where I should go to get the best exchange rate for dollars into pounds. Would it be better to exchange in US or over there?
2006-08-28 09:33:09 · 6 answers · asked by metrazur 1 in Travel ➔ Travel (General) ➔ Other - Destinations
Logically the logistics say over there. Think about it, if you go to the Bank in the US to get exchange they are keeping a bit of all foreign currencies on inventory. If you buy there, they are selling cash to you and can turn around and sell those US dollars as soon as they want. Airports aren't usually the best rates either, normally a bank.
I would exchange a bit of cash, just to get you started for a taxi or if you are hungry, and give you time to get to a bank. I haven't been to Scotland, but I typically just go to the foreign ATM and take cash out of my account. I am Canadian and have done this in the US, Mexico, Greece, and Britain. I also consider use of credit cards. Logistically both of these are just changing electronically and numbers on a page, and no expense to actual foreign currency being held somewhere like I said earlier. And no employee wages involved. So, the exchange rate and user fees are generally cheaper.
2006-08-28 09:41:06 · answer #1 · answered by JuanB 7 · 0⤊ 0⤋
What I usual do is get a very small amount of the currency of the country I am traveling to before I leave. Either at the Airport or a local currency shop. Maybe 50 or so American.. just enough so could have some if you need it right away for a taxi or anything when you arrive. Then hit a local ATM machine and just get out whatever you need ... ATMS wont charge currency commissions. That is the easiest way to do it i have found.
2006-08-28 10:47:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Do Not try to exchange in the US! The banks barely know what foreign currency is. I used my bank card at an ATM at the airport in the UK (Gatwick). The exchange rate was good and the fee was only about $1.50. I would use that method at ATMs at banks whenever I needed money. The money came directly from my checking acct. and I had no problems. Be warned, exchange places do not deal with coins. At the airport, a lot of places would take dollars. I put the last of my pounds into the gas tank with enough left to eat and get out of the airport to go home.
2006-08-28 15:33:14 · answer #3 · answered by gtoacp 5 · 0⤊ 0⤋
A monetary unit in Morocco is a Dirham. Banks, hotels, shops has the same rate of exchange ( no difference ). But in the last few years a lot of change agencies openned in the whole country . These lasts give a little bit more. And as you can't take Dirhams out of the country (not considered as a foreign currency yet ) try to change a little by little.
2016-03-17 03:48:59 · answer #4 · answered by Heather 4 · 0⤊ 0⤋
Cash machines. They're everywhere and you get a good exchange rate. Try to stay away from currency exchange offices...they are rip offs!!!! Check out www.mappy.com - you can put the city in Scotland you're visiting and it will tell you where all the cash machines are.
2006-08-28 15:53:49 · answer #5 · answered by polkae6036 2 · 0⤊ 0⤋
i have always got better rate's in the country that issues the money. go to the bank or ATM best rate. air port American express rate exchange are higher.
2006-08-28 09:53:02 · answer #6 · answered by moonwalker 3 · 0⤊ 0⤋
either use your own branch (bank) before you come or just use a credit card.
2006-08-28 09:40:32 · answer #7 · answered by kevin 2 · 0⤊ 0⤋