Is it worth the risk

[shedenuk]

Just wondered what other people thought about the companies that offer a better rate for dollars if you pay them the money just now and take delivery of your dollars in say Aug 09.

Given that at the moment that its the banking and travel industries that are in dire straits would it be too much of a risk to pay up front for dollars you wont receive until next year.

Would like to hear your views

Thanks

[blott]

No company is absolutely 'safe', you only have to look at a pretty large company like Northern Rock to know that, so if it's a risk you're prepared to take... Check with your credit card company if you would be protected if you did this.

No-one knows what the rate is going to be in, say, August 2009 and it may be back to $2 to the £ by then. Do those companies who 'fix' the rate give you better if it goes up in the meantime?

[steph_goodrum]

Trouble is by the timem you pay a credit car surcharge for cash withdrawal which most charge if it is a currency transaction then oyu are probably going to be no better off than going into the high street and picking up the cash from a travel agent so why take the risk? If you are axchanging thousands maybe but for average holiday spending money its not worth it imo.

[ShirleyD]

Sheena if it were me, I would put my money safely away in a high interest account and get a Nationwide credit card to use when I was abroad. They give you a brilliant exchange rate whatever you spend and you will then have money saved to pay the bill on your return