What is the cheapest and most effective way to convert US dollars to pounds and euros?

Question

I will be traveling to london and dublin in feb and want to know if I should:

1. Convert my money before I leave (and if so, at a bank or retail establishment?)
2. Convert it overseas (at a bank, airport, or where is the cheapest?)
3. Bring travellers checks in us dollars and break them as I spend them (can you even do that?)
4. Try to put as much as I can on a credit card (is there no conversion fee usually?)


Thanks!!

Answer 1

Find the best paying rate at a bank in the town never at the airport and cash enough what you need it and have a good time !

Answer 2

Keep your money in the bank and get a bank card that also work in ATMs in England and Ireland.
Even when you have to pay extra for each use it will be cheaper and safer than carrying cash.
Put a part of your money in your credit card if you like, and use that for the higher bills.

The exchange rate for Euro and Brittish pound will be as good or bad as the other, as they are staying together, not differing much between one week or month and the next.

Traveler checks are a thing of the past, you pay to get them, loose on the exchange rate, at least as much as using an exchange office would cost, and on top of that, not many places still accept them, and often they charge you to get your own money.

Take some cash, like $100 in $20 bills, to exchange when you get stuck, or to pay for a bill if you forget to change or get money out of an ATM.
Almost every village and surely every town in the UK and Ireland have ATM, nearly on each street corner it seems.

If you want to change $20, go to an exchange office that claims not to charge a fee. (The rate will be louzy, but better than paying $5 on cost.)
If you want to change $100 or more, go to a bank office, you will pay an flat fee but the better rate will balance that.

Using your credit card you may pay a little each time you use it, but that is mostly just cents, and the exchange is done automaticly, on your statement you will see the amount in Euro or Pound and in $.
Same when you go to an ATM, and in both cases you will get the best exchange rate, the same the banks use between themselves.

Take a Visa or Mastercard card, not an American Express, those are not really liked much because they cost the shop owners to much.

Answer 3

The cheapest is first getting it converted to pounds because the dollar for euro rates is horrible right now. A pund would do your money better. Also covert some cash on hand to pound prior to traveling and if you have a visa or american express they are accepted almost every wher ein europe but always bring cash to dining places some may nor have ATM's

Answer 4

Convert as low as possible and use a credit or debit card. that supply you with the ideal substitute fee. in no way use a visitors verify in a save. that supply you with the worst substitute fee. do no longer forget approximately there's a cost each and every time you exchange so in case you exchange to euros there is yet another can charge the convert the surplus back into money. you additionally can use ATM machines throughout Europe alongside with your debit or credit card. it quite is often complicated to transform to Euros interior the U. S. because of the fact maximum banks decide to sell you a minimum length equipment and that they could desire to reserve it from the pinnacle workplace.

Answer 5

The best way to convert your USD to GBP/Euros would be to convert the bare minimum to get by at the airport. Then, if you're meeting up with family, friends, or colleagues overseas exchange your money with them to avoid currency exchangers where they take some of your money. Have fun.

Answer 6

First you have better to have some sort of VISA or MASTERCARD and withdraw from Bank automates.

Select your bank carefully and ask them how much they charge when you make withdraw.

My bank charges nothing at all except the difference between buying and selling money, which is officially set daily.

The AMERICAN CARD is NOT accepted everywhere and I do NOT recommend it at all in Europe and there might be some problems with VISA too in some countries. In some European countries they will charge you 4 % extra when you use the card in a shop.

By EU law, the EURO should be accepted in every EU country to be used in shops et cetera, but we are not there yet

The US dollar is expected to continue to loose its value to European currencies and it is said it is due to the poor government running USA and the war in Iraq.

I do not know, but remember that if you are in debt, you are NOT free and it goes for a country as well as for anybody.