Where's the best place to change money?

I'd like some advise on the best place to turn £s into $s please. Should I do it here in Blighty or wait until I get to the US? Also, any tips on were the best rates and least commission are to be found would be appreciated. I won't be bringing any of it back.

I would say Barclays.
Either online through their website, or in a branch near you. Ive noticed the rate to be a lot higher than most other places.
You don't need to have an account with them either.

Kev.

[Neil]

Couple of previous threads on this topic, and usually Travelex comes out as the preferred V-Flyer's choice. Order online, collect at the airport and the Garauntee to be the best rate on the day you order. Think they were 1.94-ish the other day.

Edit to say, my suggestion was if you were going to do it in the UK, my preferred choice, but there were some good rates to be had in the US I noticed, all charged commision however.
Neil

[Scrooge]

It depends on where you are going.

If you are heading to Vegas it would be the Bellagio as they only charge 1/2%, as of yesterday their rate was $1.99 per pound.

The Strat was $1.96

If you travel abroad a lot, use a combination of Travelex and the Nationwide Credit Card. You'll get better rates than Travelex and pay no Foreign Transactions commission either.

If I am buying it here I always use Travelex, order online and pick up at the airport, however leave at least 10-15mins as they are not the fast people in the world! [:?]

I always use 'hole in the wall' places in London, there are 2-3 on Piccadilly. They usually have better rates than Travelex or the Banks as they rip off tourists and find themselves with lots of foreign notes they don't want to send to wholesalers...

ALWAYS ask "How many X can I get for £100" though, don't ever go on the exchange rate as they will offer a good rate then charge comission.

I use to Post Office no commission and if you do bring some back no commission to change back to £s and the rate at the miniute is $1.91 to £1 they also home deliver if required.

To get the very best rate for your currency, use Thomas Exchange Global http://www.thomasexchangeglobal.co.uk.

They offer zero service charge, zero comission and their standard pricing will beat anywhere that I have ever seen. If your changing largish sums and can get to the branch (Both in London) you can negotiate a slightly better rate.

If you cant get to their branches then you can get Travelex to price match by ordering online and do the usual collection at the airport.

At the moment their dollar rate is $1.985

Matthew

Matthew, I got a better JPY rate today at my 'hole in the wall' place than they are offering.

Ohhh interesting, what rate did you manage to get (And where about on Piccadilly as thats right close by for me?)

I have only used TEG for Sterling to Dollar conversions, so maybe the competitive edge is not as good for some currencies.

Thanks

Matthew

Use Marks and Spencer - better rates than most and no commission

Matthew, there are three on Piccadilly, one opposite the Japan centre, one further down towards Swallow St, the third near the Itsu where the guy got poisoned.

I got 244 vs 242, so not a huge difference, but I changed over a grand so it adds up.

Thanks Jimbob, I'll take a wander one lunchtime and check it out.

You are absolutely right too, it may not be a great difference between any of these places looking at a single £ but when you start changing up larger sums of money it sure adds up!

Matthew

I never found anyone to be better than Travelex, as long as you order in the window where you can get zero commission, with collection before the gate, it makes it very easy. Right now its $1.9493 (Mon @ 16:43)

My understanding is you will normally always getter a better rate from an ATM as they use the Corporate rate, which is higher than the consuumer rate you get from Travelex/M&S/PO/etc.

The Visa rate today is:
1 British Pound = 2.01 US Dollars with 0% commission &
1 British Pound = 1.96 US Dollars with 2.5% commission.
Travelex rate if you order online is 1 British Pound = 1.9493 US Dollars

So it does all depend on your card T&Cs and where you buy, though it doesn't make much of a difference in small amounts. If you are paying large bills such as hotels then use a card with 0% exchange fee.

I'm in agreement with Tinkerbelle on this one to use M&S.

PLUS if you pay for your dollars/euros/dirhams whatever, by the M&S '&more' credit card then you will not pay any fees. It will be treated as though you purchased an item of clothing (for example).

PLUS if you time it right the cut off date for your account always seems to be several days before your actual staement date.[^]

Probably not a lot of help to most of you, but I opened two accounts in the US and wire money across when the rate goes up, then just use my credit/debit cards when I'm out there.