Where can I get the best currency conversion rate for pounds £ into Dollas $ ? As I've been ripped off before

Question

I do not mind traveling to certain areas . I changed some pounds into dollas before and got the worst rate. So now I am looking for places where the rate is a bit better. I went to the post office to change my money last time. And what is a good rate to find? I know the rate is near £1=$1.7 or has it changed? If any travelers or Londoners know any goods places please drop off a few names, directions.

Thank you.

Answer 1

Go to your local bank, whatever you do dont do it at the airport!

Answer 2

The major banks compete with each other and, therefore, won't skin you too badly.

However, when traveling overseas you might want to think about doing it this way ... get just enough foreign currency for the first day or so and take your direct debit card with you. Then get the foreign cash you need from local ATMs in the cities you visit.

Sure, you pay a bit for the service from the foreign bank and you pay another bit for the banks to change the currency for you. But you always get a very good rate on the currency conversion itself and stop worrying about whether you're being ripped off. {You do have to read the language well enough to understand the ATM, of course.}

The only countries where I don't do this are the ones where I know the street conversion rate is far better than the official one. [Venezula is an example.] For those, I find out which foreign currency is best to bring [most in demand -- pounds, euros, US dollars, yen] and arrange with my bank to bring that currency.

{a word -- avoid plain green USD bills -- most foreigners like the newer coloured ones and crisp, new ones at that. They've had way too many counterfeits passed on them already.}

Answer 3

Having been there, done that, and at times paid as much as 20% for conversion, I have found the cheapest way is to use Bank of America ATM's.

Use your B of A card to get cash in any European Country in the currency of that country. They are located all over Europe, usually in department stores like Walmart, even some Mc Donalds, etc. Just look for a name you recognize and check inside near the entrances.

B of A totals all the cash withdrawals in one billing cycle and charges one conversion fee (usually around $1.75 US, and gives the actual conversion rate.

Happy touring.

Answer 4

Marks and Spencer have a good name but also check your banks and then go on-line and see if there is a reputable dealer there though even if you prefer not to use that route, it will give you an idea of the current rates.

Answer 5

Some Mark and Spencers have exchange shops and do a really good rate. I usually go to the one in High Street Kensington, but most of the bigger stores have exchanges.

Answer 6

thie sit gives a comparison on todays echange rate we use M & S or thomas cook the rate at present is around 1.95 dollars to the pound so dont go for much less

http://www.comparetravelmoney.co.uk/index.asp?gclid=CMHRz76NtI4CFQ6HlAodAjFszg

Answer 7

Hi,

You can visit http://forex.checkouttoday.info for some useful tips. Good luck!

Answer 8

Marks&Spencers! check em out ;o)

Answer 9

any legal bank is the place to go.

Answer 10

www.xe.com