Hi all,
Apologies in advance if this is a common post, and I hope that I have selected the appropriate NG! Also, the answer may also appear obvious to some (I hope so!) but I only got a Grade 3 in CSE maths!! Sorry. :-)
I am due to go to Boston at the end of this month, I was wondering would it be more beneficial for me to exchange my GBP for USD before I leave or should I wait until I get to Boston?
TIA
Regards
Blakey
If you mean, should you do it now or when you go, you need uk.crystal.ball.finance.
OTOH if you mean will you get a better rate in the US or UK at any given time, I've found I got best rates by using credit cards as much as possible and just taking a small amount of cash for incidental purchases.
It helps to have a few dollars in your hand when you go, but in general you can get your cash from ATMs and pay for much of what you have by credit card. Changing currency is often difficult outside the biggest cities.
If you are flying with a US airline, buy something cheap on board with sterling and get your change in dollars.
The US is one of the few countries where it is usually more expensive (and more hassle) to change currencies than here. I wouldn't recommend going there with GBP.
You'll probably find you can use your UK bank cashpoint card in the US, check the T&C's and how much they charge (there's usually a fee PLUS an exchange rate markup- total usually about 4%). Nationwide are one of the few exceptions - no fee and no markup. Paying by credit card is usually cheaper - although again most providers (except Nationwide) charge an exchange rate markup of around 3%.
USD travellers cheques are accepted as cash nearly everywhere, and you get change in cash. But expect to pay about 1% plus about 3-4% exchange rate markup ("tourist rate") when you buy them, so they're not the cheapest option. But some people prefer them to ATM/credit card spending as it's easier to keep track of how much you've spent.
Thanks very much for all the advice guys! Much appreciated! :-)
Regards
Blakey
"Andy Pandy" wrote in message news:3R%1c.15642$ snipped-for-privacy@stones.force.net...
exceptions - no
Partly it depends how much you like taking risks, you can probably get away with arriving with no dollars at all and just having two or three credit/debit cards (I would suggest more than one), but that obviously leaves you a bit exposed. If you know anyone who recently went to the US they may well have some left-over dollars they'll sell you at a good price.
That's a good idea. I always hang onto my spare currency unless it is something you can't take out of the country.
Sod's Law dictates that if you go with no cash and rely on finding an ATM at the airport it will be out of service when you find it. If your hotel has a courtesy bus from the airport, that can help.
Airports generally have several ATMs, and manned B-de-Cs as well if you arrive at a sensible time. Also e.g. bus and train tickets can often be bought with credit cards, although maybe that's less likely in the US (then again you may go for a rental car there). I have yet to get caught - although I got lucky recently on a visit to Geneva, I was staying in a hostel just across the border in France and hadn't twigged that they would want euros and not swiss francs! Fortunately I happend to have some left in my wallet from a trip to Germany.
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