Off Topic Money exchange
 

In message , Helen Deborah
Vecht writes

That was not my experience when I went to Italy last year and used my
card at an ATM. I withdrew 240-250 Euro (maxima varied) and found I was
paying about £8 in transaction charges each time.

The charge (if there is one) varies enormously according to who you bank
with.

I am charged around £8 by Barclaycard for each such transaction I make,
while my partner (using the same machine in Venice - usually the one up
near Santa Lucia) is charged nothing at all on a Nationwide account. We
now operate an agreement which is not in Barclaycard's interest :)

I find it impossible to answer the OP's question - finding the best deal
for changing money depends on many variables, including fluctuating
exchange ranges. Some days it is better to do it before leaving, other
days it is not. I can't possibly comment on the situation in the US -
here in the UK, I often find that changing pounds for euros at the local
Post Office is by far the cheapest and most efficient choice.

--
Paul Terry

Off Topic Money exchange
 

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:

And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.

In that case wait until you get to the UK airport and look for an ATM
sign. There should be some near the exit from the customs area. Watch
out for any that charge a fee, though. They are proliferating.
--
Terry Harper
Website Coordinator, The Omnibus Society
http://www.omnibussoc.org

Off Topic Money exchange
 

G.Mizer wrote:
I am traveling to London tomorrow for the USA
and was wondering what your thoughts are on where the best place to
exchange money is.

Am I better off doing so at the USA side ( exchanging US dollars for
GBP) or wait till I get there and exchange it at the airport.

You might want to exchange $50 or so, just so you have money for a taxi
(or the Heathrow Express :-) and don't have to be scouting out an
airport ATM with your bags.

I second the ATM suggestion made elsewhere in this thread, but check
with your local bank. Often they have agreements with foreign banks for
no-fee ATM use. For example, (at least in late 2001), Bank of America
ATM cards would not be charged a fee if used in Barclay's ATM's....

Off Topic Money exchange
 

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:

Thanks Tom

And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.

George


You haven't mentioned how much you are going to be exchanging. I have
found that if you are going to be exchanging $5-10K the cheapest way
is to open a no fee GBP savings account at your local bank,

Locally for me, HSBC has a no charge GBP account that I use and the
spread is very minimal to transfer from a dollar account to a GBP
account. I deposit $ to my current account and then transfer it to my
GBP account over the internet, then go into the bank and withdraw GBP
notes with no fee's. Returning what's left over in reverse fashion.

There's a huge number of banks in the states & you didn't mention your
area so I think you'll have to make a few phone calls to find out
which ones in your area offer this service. My experience with the
bank machines is like other posters have mentioned, charges popping up
out of nowhere and a less than favorable exchange rate. esp on
visa/mastercard.

Just my $0.02

Good luck, enjoy your trip.

PS Not sure if ING, ICIC or any of the other internet banks are
convenient for you, but if so, that's where I'd probably start

Off Topic Money exchange
 

Once upon a time -- around about 4/29/05 12:29 --
possibly wrote:

On Tue, 26 Apr 2005 14:53:23 -0400, TheMiz
wrote:


And Yes I am in the USA now, Problem is there is no place around me to
exchange money except for the airports.


Locally for me, HSBC has a no charge GBP account that I use and the
spread is very minimal to transfer from a dollar account to a GBP
account. I deposit $ to my current account and then transfer it to my
GBP account over the internet, then go into the bank and withdraw GBP
notes with no fee's. Returning what's left over in reverse fashion.
I use this same system at the very same bank. I keep a few GBP so the
account remains open. Then you can get a Switch card to use and that debits
your GBP account directly thereby eliminating any ATM fees as well. It's
rather brilliant and has saved me a fortune in exchange fees.

which ones in your area offer this service. My experience with the
bank machines is like other posters have mentioned, charges popping up
out of nowhere and a less than favorable exchange rate. esp on
visa/mastercard.
Several banks offer this for free (foreign ATMs) but not all. All major
credit cards tack a few percent on now (Amex included) and the rates for
this just increased a few weeks ago. The rate is still better than the
airport. I just keep 30# cash in my wallet and bring it back and forth for
the few expenses before I find and ATM.

-- CMOT

--
I will admit that it is hard to reconcile "I was hungry, and you gave me
food.... " with the policies of recent GOP administrations. -- Frank Palmer