changing money

[foxymum]

where are you planning on or do you change you GBP to Dollars?
and whan aswell, post office, marks& spencer or online? we are novices!!

 

[2Tiggies]

where are you planning on or do you change you GBP to Dollars?
and whan aswell, post office, marks& spencer or online? we are novices!!

The answer will vary from one person to the next.

Someone on here just got a really good rate from ICE (order online, cash delieved).

I have used Thomas Cook, the Cheque Centre and I have FairFX card (you can order cash from them too, but a slightly lower rate than the card load, although still very competitive with the High Street)

As a rule, and this is only personal approach, I NEVER EVER EVER EVER order from the Post Office. Their rates for cash are appalling. They really come into their own with very good card products and you may want to consider that if you would like to deal with them, but not for cash.

If you do want to apply for a card though, you will need to start making a move now as it takes time for them to set up your account and deliver the card, pin, etc so I wouldn't wait later than a month out for that.

As for when to change? Well, it's a gamble and a guess at the best of times. Whenever I see a rate I am happy with I top up some more. It has become part of my monthly budget

 

[foxymum]

thankyou for that, when you say card load do you mean we put cash onto a card to use? & who offers that?
we have a credit card aswell (empty) we just dont know the best way too spend out there & safest aswell, thanks again

 

[foxymum]

just had a look at the Fairfax website about having a card looks great!
do you think this is a good rate £100 GBP to $153 US Dollars?

ooh im getting excited now!

 

[2Tiggies]

just had a look at the Fairfax website about having a card looks great!
do you think this is a good rate £100 GBP to $153 US Dollars?

ooh im getting excited now!

Again, it is personal choice, but I feel it is a very good rate at present. If you look at the thread by Les about todays exchange rate, have a skim over the pages from when it started. All rates in the 1.40's save for a few when it peaked a little while ago. In my opinion this is very good. I have also loaded my FairFX card for a lesser rate of 1.48 this year and I have no regrets. It is down to what you personally assess as a good rate. The trouble comes in when those of us who travelled with the great rate of $2+ to the £ start comparing - but that was never the norm and to me, anything around 1.50 is good.

Sorry I can't give you more details now, but at work at the moment. I will check and see later if anyone else has helped you out. We have lots of gurus on here and it is always good to get more than one person's opinion.

 

[foxymum]

ah thankyou thats very kind of you, yes i remember the dollar being worth 2 when our daughter travlled back in oct 2007 to florida she got a great rate! she bought so much stuff back for the boys, she travelled with friends of ours, thats why i also compare the rate to then!!

 

[2Tiggies]

ah thankyou thats very kind of you, yes i remember the dollar being worth 2 when our daughter travlled back in oct 2007 to florida she got a great rate! she bought so much stuff back for the boys, she travelled with friends of ours, thats why i also compare the rate to then!!

Never mind, the airlines have decreased the luggage allowance in accordance with the exchange rate so to them too!

 

[wayneg]

As Lee says we all have our own preferrences for taking money.
My thoughts, I have seen pics and heard stories of smashed safes and cash taken, happened to relatives of ours also. Plus I once lost my wallet (got it back) with over £500 in so cash is not an option for me now, I take $100-200 to cover tolls and anywhere else that won't accept cards(everywhere does)
My choice is a fee free credit card, mine is Post Office, they give full interbank rate with no fees so if I used it today I would get $1.56/£1, far better than most high st exchanges, just seen Nat west rate 1.4779
Also a bonus if the rate rises while you are away, downside is if the rate drops, you get less for your money but over the years this has been by far the best way we have done it, so easy compared with exchanging money.

 

[Laurafoster]

As a rule, and this is only personal approach, I NEVER EVER EVER EVER order from the Post Office. Their rates for cash are appalling. They really come into their own with very good card products and you may want to consider that if you would like to deal with them, but not for cash.

If your someone who likes to buy on the high street the Post Office are a lot better now. Their rates are a lot more competitive than they used to be.

E.g - Todays rate at Thomas Cook is - 1.5187 and the post office in my local branch was 1.5186 (If you pre-order)


Personally i like to use credit cards. With a few hundred dollars in travellers cheques/cash as a back up. However make sure you take another card as back up just incase you have any problems. Im sure you wont but better to be on the safe side!

 

[foxymum]

thanks all, we only have one CC though, so maybe we should change up money on a Fairfax card , a few hundred cash (dollars) & then take CC?
mm i wonder if my CC is fee free, bet its not!

 

[foxymum]

yes there is a charge for my CC ! Just found a pre paid card on a compare website called Caxtonfx global traveller card that charges no fee for ATM abroad! does anyone have experience of this company?
the next one listed was Fairfax.

 

[wayneg]

Which cc is it?

 

[foxymum]

Which cc is it?

its a barclays freedom platinum, just checked thier website for terms & conditions, is that what you meant?

 

[wayneg]

its a barclays freedom platinum, just checked thier website for terms & conditions, is that what you meant?

I was going to check the fees for you but you found out
They charge: Overseas transactions: 2.75%
So A fee free card today would exchange at $1.56, your Freedom card would exchange at $1.52, still better than many High St exchanges.

 

[foxymum]

I was going to check the fees for you but you found out
They charge: Overseas transactions: 2.75%
So A fee free card today would exchange at $1.56, your Freedom card would exchange at $1.52, still better than many High St exchanges.

ah thankyou! so if we buy out there on the CC say a top for 10$ we are charged a 2.75% on top?
we have never had a CC before or been to Florida or the US atall so excuse my ignorance! i wish i was as knowledgable as some on here! hopefully i will be in the next 6 wks

 

[PChef]

We are taking a few hundred in cash (including the boys' spending money), then will use debit and credit cards for the rest (1% fee on them at the moment which is usually cancelled out by the excellent exchange rate applied).

Personally don't like the risk of cash, never use travellers checks, and don't want to bother with a pre-payment card, just my personal opinion.

 

[crabbie1]

Im prob in the minority but I ordered from crown currency at 1.58 and had money on 3/9/10 as promised- ,did mean paying in advance though to get that rate. Have pithered the last few days placed an order with ice but didnt go through with it but today payed and ordered from thomas global exchange and got 1.547 for delivery tomorrow. Recommended on Dibb board I think.Would have got a fairfx card though but leave in 5 days. and they take up to 7 working days to come
Bit worried now wayne said safes have been broken into.We have no CC just debit card which we have been advised not to use as it is a natwest card so only got TC and cash.

 

[wayneg]

There will be no fees shown on your statement, they will just use the interbank rate ($1.56) less 2.75% fee (4 cents) so the exchange rate they use (and show)for you is $1.52, meaning a $10 transaction will be charged to you at £6.58. If the same $10 transaction had gone thru on a fee free card the cost to you would be £6.41 (17p less)
I have rounded the figures for simplicity, would start confusing myself if I did it accurately.