£ to US $
Jul 22, 2008 | 4:08 pm
#16
Join Date: Jul 2002
Location: Stirling, Scotland
Programs: Amex Centurion - BA Gold - IHG Platinum - HHonors Diamond - Virgin/SkyTeam Gold / Hillman Imp
Posts: 2,293
I can't agree with one of MSE's "Cards From Hell".
Last month in Spain I was getting 1.22 Euros for a pound as long as this was cash pound notes, Sterling Travellers Cheques were the same rate but a commission had to be paid so more like 1.20.
I took 200 Euros out with my RBS Debit Card & got an effective rate of 1.205, not as good as cash and it cost me in theory a couple of quid but I don't see any reason to lock this Card From Hell up when I travel.
Last month in Spain I was getting 1.22 Euros for a pound as long as this was cash pound notes, Sterling Travellers Cheques were the same rate but a commission had to be paid so more like 1.20.
I took 200 Euros out with my RBS Debit Card & got an effective rate of 1.205, not as good as cash and it cost me in theory a couple of quid but I don't see any reason to lock this Card From Hell up when I travel.
Jul 22, 2008 | 6:43 pm
#17
Join Date: May 2007
Location: ORD, DEL
Programs: AA (Plt Pro; 1.5 MM)
Posts: 6,223
As for the exchange rate, usual laws of economics apply. Things tend to be cheaper where they are produced and more expensive in distant locations. So dollars, like any US products, should be cheaper to buy in the USA and more expensive in UK. IOW exchange your pounds in the USA.
Now as far as fees/commissions go, everybody has their own rule. You should familiarize yourself with your bank's policies. However, an ATM is extremely convenient and that's what I use when I travel.