Tesco or the PO for currency

Any one used the online currency acquisition service offered by Tesco or the PO? Are they reliable, for example do they deliver next day as they say?

They both seem to offer the best exchange at the moment, albeit that Tesco is very slightly higher at 1.5384 (compare that to 1.43 offered by Travelex at Heathrow last week, significantly better and I'll only ever use Travelex now in an emergency!).

[Neil]

I've just ordered from the PO this morning. Have used them on numerous occasions and they are very good with the delivery (and or collection from the branch) so would have no hesitation recommending them, and like you say, offer one of the best rates currently.

Neil

Citibank offer Foreign currency accounts with fee-free withdrawals.

An easy and safe system!

When I set up my accounts it only took a few days to get the ATM card.

I have ordered currency through Tesco before paying with credit card (and I'm sure I got Clubcard points too) and the currency turned up very quickly indeed.

However there's nothing like getting cash in your hand so I tend to go to Marks and Spencer and get any currency I need.

Last week I got $1.57 to the pound that was in the USA using my debit card in a cash point.I only take enough for drink at the airport plus fares to hotel got a good rate from Natwest

I've just ordered from the PO this morning. Have used them on numerous occasions and they are very good with the delivery (and or collection from the branch) so would have no hesitation recommending them, and like you say, offer one of the best rates currently.

Have you ever been charged anything by your bank on these transactions?

Paul

[Neil]

I've just ordered from the PO this morning. Have used them on numerous occasions and they are very good with the delivery (and or collection from the branch) so would have no hesitation recommending them, and like you say, offer one of the best rates currently.

Have you ever been charged anything by your bank on these transactions?

Paul

No

My last transfer to citi dollar account gave me 1.58 (on 30/09/10)
No charges and I can withdraw cash almost anywhere in the US.

Forgot to mention - they also pay 0.75% interest

Tesco have just stopped giving clubcard points for currency and now offer a guarantee that their rate will be the best around.

Also if you have a Tesco credit card you can use it to buy currency (from tescos) and they treat it as a purchase so no cash advance fees and 4-5 weeks to pay it off

I always use http://www.travelex.co.uk

Always had good prompt services and the rates are normally the best around.

I can never understand how Travelex get away with their best rates available claim.
Right now they are offering $1.54.
OK that's better than PO at $1.5379
But Citi are at $1.5866.

Travelex offer a card so you can lock in the rate - but you get no interest.
Citi offer a Dollar Savings account with 0.75% interest - and instant transfer to your dollar ATM card whenever it's needed.

Why carry large amounts of cash when an ATM card is so much safer?

For most people new accounts are opened immediately during banking hours, then its just matter of a BACS transfer from any UK bank - perhaps 2 days.
The only delay is waiting for that ATM card and pin numbers through the post.

One caveat Bill - with an ATM card you will pay $1.50+ per cash withdrawal ...

One caveat Bill - with an ATM card you will pay $1.50+ per cash withdrawal ...

With you on this one Bill.
No fees at any Citibank ATM in US with their uk based dollar account card, and you can use it for purchases with no loading/exchange fees.

One caveat Bill - with an ATM card you will pay $1.50+ per cash withdrawal ...

Nope!
Not at any Citibank or Link terminal in the US.
This includes almost all 7-11s, many supermarkets such as Publix etc
see here and here.

That's the big advantage of this system free of all fees and charges in the US with (free) US dollar accounts (and similar in other currency areas).
I have two dollar accounts - a checking account & a savings account - both can be opened within the UK. The savings account holds the cash until I need it, earning interest, and the checking account gives the free ATM access with instant transfer between them.
It also provides free debit card payments, although I use I24 for all card payments in the US - no conversion fees & charges but you also get 1% cashback on all US use y) )

With Citi Gold you get free service in 11 countries with the cash drawn direct from your UK account but that requires £50,000 investment or £12 a month charges!

Edit: sorry UArd - just noticed you had beaten me to it while I was finding links.

It helps if you are near Canary Wharf or London Bridge, but I use http://www.ace-fx.com/ now, very convenient.

Have always used the PO in the past. They always have brand new notes which is good

David

Has anyone tried ICE PLC?
Ive used them for 4 years now and I have never been able to beat their rates in store or online.
http://www.iceplc.com/
Experience also tells me that they don't send out $100 bills often either (a real plus if you hate large notes)

Kev.

[Darren Wheeler]

If you get from Travelex in advance, you get their "best rate guarantee" but if you buy on the day at one of the airport sites you get stiffed with the 'last minute rate' which is particularly bad - advantage Travelex.

I've just tries Tesco and Travelex and they both have the same rate.

[buns]

As I work in Central London I always go to Thomas Exchange Global admittedly you have to go to the cashpoint first to get those rates, but to me it is always worth it

buns

I have ordered currency through Tesco before paying with credit card (and I'm sure I got Clubcard points too) and the currency turned up very quickly indeed.

However there's nothing like getting cash in your hand so I tend to go to Marks and Spencer and get any currency I need.

i agree nothing lie cash in hand. i always get my currency when i am in tesco shopping

As I work in Central London I always go to Thomas Exchange Global admittedly you have to go to the cashpoint first to get those rates, but to me it is always worth it

buns

The rates explain the queues I see there !

I see they do online orders too for collection

* adds to list of options !

[RichardMannion]

What you didn't fancy one of these companies offering an better than the market rate, and conveniently take bank transfers upfront (but not credit cards)? Safe as houses surely.

I just take cash out via debit or my AmEx charge card when at my destination - though it's more for incidentals as we use cards to pay for most things.

[Darren Wheeler]

What you didn't fancy one of these companies offering an better than the market rate, and conveniently take bank transfers upfront (but not credit cards)? Safe as houses surely.

A bit like 110% mortgages.

In a Dr Pepper moment, What's the worse that can happen?

I always use this link as it gives you the best daily rate:
http://travelmoney.moneysavingexpert.com/

Rates below are from the Caxton site today
No fees to load, no fees at bank (not private) ATMs to withdraw and can be used as a Mastercard. Easy to load via web or SMS
Not sure how this compares to Citi
No rolling interest but whats that worth these days!

Euro Rate Dollar Rate
CAXTON FX 1.1240 1.5660
Marks & Spencer 1.1064 1.5335
ICE 1.0920 1.5291
Lloyds 1.0943 1.5320
Natwest 1.0903 1.5292
Travelex 1.1086 1.5389
Post Office 1.1076 1.5376
TTT 1.0929 1.5276