Go Back  FlyerTalk Forums > Destinations > Europe > U.K. and Ireland
Reload this Page >

Oddball currency questions

Oddball currency questions

Old Mar 12, 19, 10:44 am
  #31  
 
Join Date: Dec 2010
Location: Belgium
Posts: 865
Originally Posted by :D! View Post
I would hope the OP is using a US card that doesn't charge any forex or ATM fees, in which case the Visa/Mastercard rate would generally beat the Transferwise rate if done on the same day.
Originally Posted by skywardhunter View Post
It almost definitely would not. TransferWise uses the mid-market spot rate which is pretty much the very best possible rate you can ever get. Though cards may not have a Forex fee the exfhaexc rate is likely 1-2% below the mid-market spot rate
I do both of these all the time.

Which one is cheaper tends to be a crapshoot, though if forced to guess I'd say that Transferwise is usually cheaper. Visa/MC exchange rates change once a day, whereas Transferwise updates their rate much more often. Transferwise gets a little less than 1% in fees for USD -> GBP, but Visa/MC's rate is generally off by around 1%. Either way, we're talking a tiny difference--maybe enough to buy a couple cups of coffee--unless there's a major exchange rate fluctuation during the day or you're moving amounts of money that are too high to get out of an ATM and more than I'd want to schlep around in GBP 20 notes

OP, it sounds like you trust the B&B owner, so if you don't want to deal with a stack of 20s I'm sure she'd be happy for you to send payment with a bank transfer, which you can do easily with Transferwise.

Last edited by der_saeufer; Mar 12, 19 at 10:52 am
der_saeufer is offline  
Old Mar 12, 19, 12:52 pm
  #32  
Original Poster
 
Join Date: May 2017
Location: ORD
Posts: 353
Originally Posted by der_saeufer View Post
OP, it sounds like you trust the B&B owner, so if you don't want to deal with a stack of 20s I'm sure she'd be happy for you to send payment with a bank transfer, which you can do easily with Transferwise.
Having thought about it some more, the trouble with a bank transfer is the mess we might find ourselves in if we had to cancel the trip after we'd initiated the transfer and I had to rely on her to transfer the money back to me. The last time we stayed at one of her properties, she was happy to come back a day or two after we'd arrived to collect payment, so maybe she'd be OK with a bank transfer after we arrived?

I'm beginning to think a stack of 20s is the simplest solution.
TribalistMeathead is offline  
Old Mar 12, 19, 12:56 pm
  #33  
 
Join Date: Oct 2015
Location: Economy, mostly :(
Programs: Skywards Gold
Posts: 7,781
Originally Posted by TribalistMeathead View Post
Having thought about it some more, the trouble with a bank transfer is the mess we might find ourselves in if we had to cancel the trip after we'd initiated the transfer and I had to rely on her to transfer the money back to me. The last time we stayed at one of her properties, she was happy to come back a day or two after we'd arrived to collect payment, so maybe she'd be OK with a bank transfer after we arrived?

I'm beginning to think a stack of 20s is the simplest solution.
Just make the transfer a few days before your trip when you're sure you're going?
skywardhunter is offline  
Old Mar 12, 19, 1:16 pm
  #34  
 
Join Date: Nov 2006
Location: Locked down in the UK
Programs: Seniors Bus Pass, BA Gold
Posts: 5,290
Originally Posted by TribalistMeathead View Post
...
I'm beginning to think a stack of 20s is the simplest solution.
I think you will find it her preferred solution too
Up In The Air and :D! like this.
antichef is online now  
Old Mar 12, 19, 2:08 pm
  #35  
Original Poster
 
Join Date: May 2017
Location: ORD
Posts: 353
Originally Posted by skywardhunter View Post
Just make the transfer a few days before your trip when you're sure you're going?
We're bringing a 10-month-old with us, we won't be "sure we're going" until we board the plane.
ajGoes likes this.
TribalistMeathead is offline  
Old Mar 14, 19, 5:05 am
  #36  
 
Join Date: Mar 2004
Location: Newcastle, UK
Programs: BA Silver, IHG Gold, Hilton Gold, Hertz 5*, Avis Preferred Plus, Amex Plat
Posts: 2,070
Originally Posted by TribalistMeathead View Post
I'm beginning to think a stack of 20s is the simplest solution.
Yep. Simplest all round.

The bank may take the old 1 coins off you if you ask nicely, although they often restrict it to customers. Try a Post Office too. Failing that, as mentioned above, your landlady might be willing to do it. If more than 20, bag them up in lots of 20 (bags available from a branch).
mad_rich is offline  
Old Mar 14, 19, 9:09 am
  #37  
Original Poster
 
Join Date: May 2017
Location: ORD
Posts: 353
Originally Posted by mad_rich View Post
Yep. Simplest all round.

The bank may take the old 1 coins off you if you ask nicely, although they often restrict it to customers. Try a Post Office too. Failing that, as mentioned above, your landlady might be willing to do it. If more than 20, bag them up in lots of 20 (bags available from a branch).
Thanks, I'll start with the Post Office.
TribalistMeathead is offline  
Old Mar 18, 19, 9:15 am
  #38  
 
Join Date: Nov 2010
Location: London
Posts: 1,117
Originally Posted by TribalistMeathead View Post
I'm beginning to think a stack of 20s is the simplest solution.
Yes. The landlady will not regard it as 'low class' - rather if you gave her a load of 50 notes she'd probably regard that as a pain in the a**e!
Mizter T is offline  
Old Mar 18, 19, 9:55 am
  #39  
Original Poster
 
Join Date: May 2017
Location: ORD
Posts: 353
Originally Posted by Mizter T View Post
Yes. The landlady will not regard it as 'low class' - rather if you gave her a load of 50 notes she'd probably regard that as a pain in the a**e!
I must say I'm surprised - my bank wouldn't hesitate to except $50 or $100 bills to deposit in my accounts there, provided they weren't counterfeit. Granted, not every business would be happy to accept them, even genuine ones, but banks certainly would.
TribalistMeathead is offline  
Old Mar 18, 19, 10:38 am
  #40  
 
Join Date: Nov 2010
Location: London
Posts: 1,117
Originally Posted by TribalistMeathead View Post
I must say I'm surprised - my bank wouldn't hesitate to except $50 or $100 bills to deposit in my accounts there, provided they weren't counterfeit. Granted, not every business would be happy to accept them, even genuine ones, but banks certainly would.
There'd be no problem depositing them at a bank. It's paying shops and businesses, trades people, cleaners etc with 50 notes that can be more problematic.
Mizter T is offline  
Old Mar 18, 19, 11:12 am
  #41  
 
Join Date: Nov 2006
Location: Locked down in the UK
Programs: Seniors Bus Pass, BA Gold
Posts: 5,290
Originally Posted by TribalistMeathead View Post
I must say I'm surprised - my bank wouldn't hesitate to except $50 or $100 bills to deposit in my accounts there, provided they weren't counterfeit. Granted, not every business would be happy to accept them, even genuine ones, but banks certainly would.
Your landlady is unlikely to be depositing your cash into the bank. She will prefer the 20's as she will be using them for normal spending and they are the desired note. I have not had a 50 note in my pocket so far this decade - and can't recall when I last spent one, whereas in the same period I have had and spent loads of US $100's and $50's - it is the way we do things here! UK ATM's don't issue 50's, only 20's and 10's.
antichef is online now  
Old Mar 18, 19, 2:19 pm
  #42  
:D!
Hilton Contributor BadgeIHG Contributor Badge
 
Join Date: Sep 2012
Location: Sheen, London
Programs: BA Spire, Hilton *G, A3 Diamond, IHG Silver
Posts: 4,932
The whole premise of this thread is a bit confusing.

If you needed to pay $500 in cash in the USA, would there be a problem with 25 $20 bills? What about $1000 in $20s? Is that considered "low-class"???

Although I find counting US bills to be more difficult, they don't slide easily off each other like UK paper notes.
:D! is offline  
Old Mar 18, 19, 3:53 pm
  #43  
 
Join Date: Nov 2010
Location: London
Posts: 1,117
Originally Posted by :D! View Post
...
Although I find counting US bills to be more difficult, they don't slide easily off each other like UK paper notes.
Though of course if we only consider Bank of England notes, the 5 and 10 are polymer (plastic) already and the 20 and 50 are heading that way (the new polymer 20 is coming in 2020, the 50 later). And several of the Scottish notes are polymer already.
Mizter T is offline  
Old Mar 19, 19, 10:02 am
  #44  
Original Poster
 
Join Date: May 2017
Location: ORD
Posts: 353
Originally Posted by :D! View Post
The whole premise of this thread is a bit confusing.

If you needed to pay $500 in cash in the USA, would there be a problem with 25 $20 bills? What about $1000 in $20s? Is that considered "low-class"???

Although I find counting US bills to be more difficult, they don't slide easily off each other like UK paper notes.
I have odd notions of what is and isn't low class.

Last edited by TribalistMeathead; Mar 19, 19 at 3:13 pm
TribalistMeathead is offline  
Old Mar 19, 19, 6:26 pm
  #45  
:D!
Hilton Contributor BadgeIHG Contributor Badge
 
Join Date: Sep 2012
Location: Sheen, London
Programs: BA Spire, Hilton *G, A3 Diamond, IHG Silver
Posts: 4,932
Originally Posted by Mizter T View Post
Though of course if we only consider Bank of England notes, the 5 and 10 are polymer (plastic) already and the 20 and 50 are heading that way (the new polymer 20 is coming in 2020, the 50 later). And several of the Scottish notes are polymer already.
And the Northern Irish polymers have just come out!

Going OT, I find that Australian series 1, Australian series 2, Canadian, UK and NZ polymer notes all feel very different from each other, and Canadian notes have a distinctive smell too.
:D! is offline  

Thread Tools
Search this Thread
Search Engine: