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If you have a Natinwide current account you can get dollars at the business exchange rate and they do not charge commission. They charge £3.50 delivery as they have to send you the money by courier but I have always found them to give the best rate - you can ring them 08457 302010 or check out their web-site.
Is it not more convenient to use ATM's with the card as and when you need cash in the US and get the same rates? That way you don't to pay a delivery charge or have large amounts of cash/travellers cheques to keep safe.
That's what we did Phil on our recent trip (used ATM with Nationwide card).
No extra charge at the ATM with either our local Suntrust or Bank of America. Don't believe in giving Banks or Building Societies a penny more than I have to!
I keep meaning to apply for a Nationwide Account for the very reasons you give Maureen. I'm with Citibank at the moment and they've been good for the ATM usage but they have started to charge the foreign exchange loading like most of the others.
I got $1.87 on Monday with HIFX, they said they expect it will go up again late Feb early March
Tricia
<blockquote id="quote" class="ffs">quote:Originally posted by Southsider
I got $1.87 on Monday with HIFX, they said they expect it will go up again late Feb early March
Tricia
[/quote]
Thanks for that tip Tricia, we are going late February so will wait and see what happens.[msnsmile2]
don't rub it in Sarah!![msnwink]<blockquote id="quote" class="ffs">quote:Originally posted by Ray&Sarah
<blockquote id="quote" class="ffs">quote:Originally posted by Southsider
I got $1.87 on Monday with HIFX, they said they expect it will go up again late Feb early March
Tricia
[/quote]
Thanks for that tip Tricia, we are going late February so will wait and see what happens.[msnsmile2]
[/quote]
The Dollar is still under pressure globally, the trade deff in the USA has reached a record highs. Most trade accross the world is done using the USD and a lot of country's banks/financial establishments hold large quantities of Dollars.
If the finace houses decide to unload some of thier USD holding as the dollar strengthen, this will further weaken the dollar. Most financial institutions in the UK appear to be very weary of the dollar at the moment, so its short term strength may well weaken again, kep an eye on the USA's economic data as a guide.
Heres a tip for you all (hopefully) if you are regular visitors to the USA, go into your bank and open up a USD account, you only need to keep a few $ in there, (it will pay poor interest), but when you want to change your money from sterling to USD its easy, transfer from your sterling savings account to your USD account and you can check every four hours or so what rate of echange you get.
Heres the best bit, You get a much better rate than using the foriegn exchange counter or any foriegn exchange agency.
Check with your bank first, I bank with Barclays and the service is very good.
patrick
Is it possible to open a USD bank account with a UK address?
Does anyone know if you can do this with Abbey? This would be a good way to save for me, once it's dollars I won't touch it!!