buying currency

[Robert5988]

<blockquote id="quote" class="ffs">quote:You could ask your bank what the exchange rate is as we often use our credit card as that rate is not too bad. Failing that try travelex and pre book online to get a better rate.[/quote]

I believe you will find that Travelex on-line is more expensive than any VISA card.

The VISA rate is given on this link and you can check the daily rate:
http://corporate.visa.com/pd/consumer_ex_rates.jsp

To save you looking it up the rate today(01 May)is £1 = $1.82

If you use Nationwide cards that is what you will get - £1 = $1.82

Use other cards and the maximum ‘commission’ (Virgin cards amongst others) they can charge is 2.75% and the rate you will get is
£1 = $1.77

You can check the daily Travelex rate on this link.

http://www.travelex.co.uk/personal/converter.asp

Today’s rate(01 May) is £1 = $1.7526 for both currency and Travellers Cheques

I cannot think why you would 'pay up front' to get currency or Travellers Cheques (and get a worse exchange rate)when you can put the majority of your spending on a credit card(and get Miles or cashback)and use your debit card for cash(and get a better exchange rate as well on either card)

Because our Grandfathers used traveller's Cheques doesn't mean we have to!!!!

[russell148]

We use the post office

Russell

[becbecs]

Travelex dollar rate this morning is $1.7921 - £1

This must be the highest its been for a little while

[GrahamC]

We use the Post Office to get cash, they normally give a good rate which they get fixed when you pay.

[wrpac00]

We get a few TC's but use our credit card for 90%+ of all purchases and rack up the old Virgin airmiles[msnsmile2]

[carrie]

this is going to sound really stupid, but if i use my debit card in orlando as opposed to buying travellers cheques did you guys mean that when my bank convert what i have spent in us dollars or charge me whatever that i will still be better off than i f i had bought travellers cheques sorry if i sound daft ive always just bought TC's

[Robert5988]

<blockquote id="quote" class="ffs">quote: this is going to sound really stupid, but if i use my debit card in orlando as opposed to buying travellers cheques did you guys mean that when my bank convert what i have spent in us dollars or charge me whatever that i will still be better off than i f i had bought travellers cheques sorry if i sound daft ive always just bought TC's
[/quote]

Yes exactly that - it is always cheaper to use your credit or debit card in the USA than buy travellers cheques.

You will always get a better exchange rate with debit/credit cards - Nationwide being the best. Obviously only use your debit card for cash from an ATM - they normally impose a $400 per day limit, but your credit or debit card for all other purchases.

It is also a good idea to ring your credit/debit card company and tell them you will be using it in the USA from a certain date. That is simply because if they detect an unusual spending pattern they get nervous!!

The posts above spell it out.

[wrpac00]

Check with who you have your card with, the Halifax charges £1-50 per transaction for using it abroad so depending upon how much you withdraw at a time it might not be worth it.

[maisie]

If you get a nationwide card before you visit Florida we have found that its the best exchange rate and yu can use it anyware

[wrpac00]

Maisie, different cards have different perks. Whilst you get an extra 2.75% on your exchange rate it doesn't pay me to get one as the airmiles I accrue with my Virgin CC are worth a lot more. Don't forget you pay an ATM charge everytime you take cash out.

Personally I prefer TC's and a CC, I haven't got to worry about getting cash out of a machine when I need it.