Changing currency for a holiday, is it best to do it well before you go away or wait until you get there?

Question

Should I change my money from pounds to dollars days before I leave the UK or what?

Answer 1

I would switch some or a good part of your money into American Express travellers cheques and transfer your quid into US currency value traveller cheques for use abroad. They are alot better than carrying large amounts of currency, and allow you to replace them if they are stolen. The reason I say US currency is that it is the most widely accepted currency in the world.

It will be east for you to find decent places to exchange money, just go to any bank in any capital city to do so, or find a money changer with good rates. Be careful of street exchangers, as the tend to charge outrageous amounts to exchange your money.

I wouldn't reccomend changing any more than a few hundred dollars in your own country. The exchange rates will be higher than the country you travel to, and you will have to worry about having a bunch of cash on your person. All you need to cash the travellers cheques in is your passport and matching signatures.

Hope this information finds you well.

Kyle Lamb
TV Travel Show Host of " The Four Elements"

Answer 2

Depends when you are going, if you have plenty time and you are changing over £500, there are a couple of good sites that will give you a better rate than conventional sources(use your search engine to find the best deal) but they usually need two weeks notice to get the money to you. One question, why are you taking money(unless you think the present exchange rate is going to drop-always a gamble either way) I personally, always use my Nationwide credit card abroad as they don't charge for currency transfer and I find it convenient, or take your debit card and just get money out of the hole in the wall-take as much as you can each visit as there is often a charge.

Answer 3

You mean exchange rates? In general there's never much difference except as between different types of exchange establishments. Wherever you are, some offer poor rates, some good. Wherever they are they refer to common exchange rates established internationally. But small time exchange merchants can be unscrupulous and find ways to give themselves the good deal, not you. Banks in some countries often surprise you with contrived or hidden "charges/fees" for their services, when it's too late to pull out. So get a written quotation first and study it. In your home country you can argue in the local lingo, no sweat, but abroad it can be problematical. Far better to change before you go away therefore, where you can confidently shop around for the best deal without rushing. Happy landings!

Answer 4

If changing all of your money before you go then remember to have a safe to keep it in,dont want to carry a lot of money around with you,otherwise you could change some into dollars and take the rest in American express travellers cheques or you could put your money into a plastic card to take with you,Nationwide do not charge you for a withdrawal on their flex account.
When changing your money here get one that is comission free,and shop around for the best deal.

Answer 5

I usually cange my money before I go! You get better deals!! If you go to the post office they do not charge you a fee for converting money. Quite a lot of the high street travel agents don't charge either, however in my experience the post office usually has the best rates though not always!! So have a look around!!

Answer 6

change some before you go and get some small change included because you may need some for tipping etc on arrival also take travellers cheques for safety purposes and change them when needed most hotels/accommodation have the facility to do this or use cash exchange/banking outlets for the best rate because the rate of exchange is always changing a higher or lower exchange rate cannot be guaranteed

Answer 7

this depends so much on where you are going, but if you intend to change in this country the banks usually give the best exxhange rates, but many of the poorer countries do not charge commision and give a better exchange rate. it just depends on where you are going

Answer 8

Keep an eye on the exchange rate and get them when it is good, me personally going to Spain I get my euros over there as you usually get more for your money over there Not sure about America

Answer 9

yer change all ya money, coz when ever my bloke un i have been on our hols we change our money over there, un end up paying more un we always say to ourselves that we will do it be4 we go un never do and spend most ov the holiday trying to find the cheapest place to change our money, what nobs are we, have a lovey time on ya hols, can ya fit me in your suitcase? xxxx

Answer 10

i would do it before abroad you get charged to much as they no you have any choice.also depending where your going i went to st lucia with american dollars and eastern Caribbean dollars and the american is worth more to them and they get more for their money,wherever your going do it before as virtually same in all countries..have a nice time.