Best places to get currency out

[Merlin4458]

Ok, im off to the states on thursday, and need to get about 500 dollars out.
Now im not sure whether i should get it out in the UK at a bank ( im with nationwide) at the airport in one of those exchange places or in america itself.

Where would iget the best exchange rate do you think

Thanks all

[Whiternoise]

Post Office? Don't they have free commision or something..?

I wouldn't go near airports or in the US, i suspect you'll be ripped off..

[Butcher]

I just used ATMs in the states, seemed at least as cheap if not better than using an exchange here. Also Nationwide don't charge for foreign withdrawls so you may save a bit there.

Airports have ATMs - they're a much better bet than an exchange once you're there.

[Merlin4458]

yeh i think my dad mentioned that, thats why i mentioned nationwide in here to clarify what he was saying Oh well thanks guys u really helped me out

[Moby-Dick]

The guys in my office who travel abroad a lot swear by Marks and Spencer currency exchange.

[Nick]

DON'T get your currency at the airport in the UK, you'll get spanked on the exchange rate.

Most travel agents don't charge a commission now, they try and get you to buy into their 'change back' option where you can change your cash back at the same rate you bought it.

Airports at your destination can be a bit hit and miss... for example China offers a GREAT exchange rate at their airports as do most Far Eastern countries.

Don't change money at the hotel you're in unless you're desperate, hotels charge a fortune, especially in the US and Europe.

Best bet is to just go to a high street travel agent and get it there... take out roughly what you need and either try and spend it all or just hang on to any left over cash for future trips.

[Funkstar]

I was thinking about this last night. My cousin has started buying US dollars already for our trip in July. I can see why she is doing it, spreads the cost and makes sure she gets them at the current good rates in case the change (although i think they will only get better between now and then).

[dave87]

Marks & Spencer or the Post Office, always got a good deal there

[kalniel]

Marks & Spencer or the Post Office, always got a good deal there

Yup those two are the top. Often they'll vary slightly, so just go with whichevers the best for the way you're changing. For me that's usually buying from PO and selling to M&S, but it fluctuates all the time.

[schmunk]

I find that M&S generally has slightly better rates than the PO, but as kalniel says (paraphrasing), YMMV...

[chicken]

"No comission" is a fallacy. Sure you might not get charged £2 for the transaction itself, but they'll make sure your rate is low enough for them to make that money back. Weigh up the costs including commissions vs difference in rates in regards to how much money you are exchanging.

[GeorgeTuk]

M&S is a favourite for $ especially. Post Office is good and reliable.

Have you tried your own bank? Mine sorted out AMEX Travellers Card and Cheques for free and a very competitive rate.

[abeacock]

Another bump for M&S for an initial amount (maybe $200-$500) then I just use the ATMs their fees are not too bad and it saves on having bundles of cash on you or crappy travellers cheques.

[Merlin4458]

Well if nationwide dont charge me like someone said above then i can just use any ATM i find anywhere?
Im looking at taking 900/1000 dollars out for the whole trip, but obv not all at once!!! Will deffinatly lose it

[chicken]

Probably, but again, no direct charge will just mean that you'll get stung on the conversion rate. From my experience ATMs are particularly bad for conversion rates.

I'd say just go to any major travel agent, bank or the PO. They will be so competitive with each other that the difference you see is likely to not be worth the effort of going around calculating them all!

I have often found the best rates to be from shops when I've arrived at the destination, but obviously this can be unpredictable. ATMs though seem to be the worst.

[Kumagoro]

Another vote for Marks and Spencer from me. Always better rates than the post office.