Going to USA? How about $2 to a £1 exchange rate. - HotUKDeals
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Going to USA? How about $2 to a £1 exchange rate.

£0.00 @ Thomson Holidays (ThomsonFly)
Thomson travel agents are doing $2 to a £1 at their travel agents till Monday.It is the best exchange rate about at the moment.Same rate apply to travellers cheque if you want security.The only catch … Read More
mikec Avatar
9y, 11m agoFound 9 years, 11 months ago
Thomson travel agents are doing $2 to a £1 at their travel agents till Monday.It is the best exchange rate about at the moment.Same rate apply to travellers cheque if you want security.The only catch is you have to exchange a minium of £1000.You will save rougly £50 to every £1000 compare to other shops.
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#1
Shame about the minimum spend... Seems very high!
banned#2
lol $2000 for a trip, haha
#3
Who wants to carry round $2000?, Stupid idea.
#4
Iom-RF
Who wants to carry round $2000?, Stupid idea.


Why's this a stupid idea? I'm off to Florida in 3 weeks and i'm taking just over £1000 for my son and i for 2 weeks which is approx $2000. Depends where you're going. Have seen this deal advertised elsewhere but good spot. Rep given. :thumbsup:
#5
and how much will they pay you to take it back?
#6
Iom-RF
Who wants to carry round $2000?, Stupid idea.


I did, when I went to the US for 3 weeks.
#7
well less obviously but the good thing is you can take it back to anywhere so shop around on the way back too ! and most travel insurance covers a fair amount of cash. seems an alright deal.
#8
Just use a card, I havent bought currency for donkeys years, I just take my plastic with me (credit card for spending in shops, and bank card to withdraw cash from hole in the walls).

Other than maybe a token hundred quid or so just get your money in the country it's valid in.
1 Like #9
Just get a nationwide debit card, you can withdraw money worldwide with no charges and you get the actual exchange rate.
#10
when we went to us in jan the exchange rate we got from nationwide was fantastic
better than most of the exchange rates over here
#11
Great deal, might just grab £1000 on monday as I was getting this soon for 3 weeks in florida.

Usally use http://www.crowncurrencyexchange.com/

Its not often they are beaten.
#12
i'm in oahu in 2 weeks, £1000 should buy lunch for 2 days :giggle:
#13
Im not going to the states til october, but i may go for this.
banned#14
Reddwarfposse5
Why's this a stupid idea? I'm off to Florida in 3 weeks and i'm taking just over £1000 for my son and i for 2 weeks which is approx $2000. Depends where you're going. Have seen this deal advertised elsewhere but good spot. Rep given. :thumbsup:


Is that all you are taking? I am going with my son for 2 weeks and am taking £3000. You will not get much for your £1000 there I can assure you of that.
#15
This thread is about the currency deal not a competition who is taking the most money to the states geez :whistling:
1 Like #16
nationwide debit card is best no intrest or commision just get the exchange rate on the day was geting 1.9821 usd to the pound and not carring loads of cash around.still this seems the best deal for exchange in uk as the t agentes all say no commision charged then give crap exchange rate bit misleading?voted hot
#17
guv
I took a nationwide CC with me and I agree its the best one to use. However, it still wont give you the exchange rate given in this deal. (And you will be charged interest from day one if you withdraw cash.)


It will give you a rate 1.98 tomorrow and probably the same on Tuesday. What does Thomson give on Tuesday?

Also, I have NEVER been charged interest to withdraw with my maestro nationwide card, and always got spot rate.

So more more flexible than popping out to get over £1000 in cash changed over. And if you get mugged in this country travel insurance won't cover you, and even abroad, the cash coverage is well below this. For example, Boots will only cover upto £500 of cash.

If you want to ever change amounts this size over, a currency broker will often get you very very close to spot which may be something to consider in the future if people don't have/don't want a nationwide account.
#18
Great post take travellers cheques instead of cash, same thing in the states.
#19
why even spend it? At this rate, it's worth exchanging £1000, then keeping it until the end of the year... by then, odd are on that the rate will be worse and then exchange it back to £. It wasn't that long ago that the $:£ rate was 1.8, so it's a good was of making a few quid profit. After all, that's exactly what currency speculators do.
#20
That is a great deal.
We just changed USD this week from our Halifax account and got 1.96 to the pound, which was the best I could find on the high street - the travel agents were giving 1.89 USD to the pound.

This Nationwide card does sound like a very good option also, I will definitely look into it as I am always nervous having to carry larger amounts of cash around.

Heat added and rep given to all the helpful posters!
#21
guv
I took a nationwide CC with me and I agree its the best one to use. However, it still wont give you the exchange rate given in this deal. (And you will be charged interest from day one if you withdraw cash.)


No interest on a Nationwide Debit Card.
#22
"So more more flexible than popping out to get over £1000 in cash changed over. And if you get mugged in this country travel insurance won't cover you, and even abroad, the cash coverage is well below this. For example, Boots will only cover upto £500 of cash."

Well I did mentioned you could opt for travellers cheques instead of cash.In the US most shops and restaurant accept travellers cheques and give you cash back for change.So if you got mugged ,you would not lose out.
#23
I used my nationwide debit card in new york a few years ago.

All you have to do is load your account with your spending money before you go(take some emergency $ too)
Let nationwide know that you are going to use the card abroad for a few weeks so that there are no problems.

Use the card in any us machine and it will tell you in dollars how much you have, and the nationwide exchange rate is TRADE rate so better than converting your pounds to dollars!

And no charges too
#24
rnem170
why even spend it? At this rate, it's worth exchanging £1000, then keeping it until the end of the year... by then, odd are on that the rate will be worse and then exchange it back to £. It wasn't that long ago that the $:£ rate was 1.8, so it's a good was of making a few quid profit. After all, that's exactly what currency speculators do.


This is pure speculation. If you knew what the exchange rate will be in the future, then you could be a multi-millionaire. I for one will pay you a lot of money if you can guarantee me what the exchange rate will be in the future.

One thing I'm going to check out is whether I can make instant profit on this deal. I already hold US dollars. If I can exchange these dollars to pounds at less than 2:1, then I can instantly profit by exchanging back to dollars with Thomson.

Unfortunately, the bank rate is 1.98069. My card charges 1% foreign exchange fee, which makes my $ to £ rate 2.0004969, which makes the deal a break even really. If the bank rate was just a little lower, you could make some good free money.

If it were 1.975 for example, Change $50k to £25,065.80. Then change the £25,065.80 to $50131.60. Instant $131.60.

The rate difference would have to be higher though to make it worth your time probably. Plus if you're exchanging that much money, it's probably going to flag you with US or UK authorities. It's a neat idea though!
#25
Can't find this rate online? Is it only available instore?
#26
ianrobertson01
Is that all you are taking? I am going with my son for 2 weeks and am taking £3000. You will not get much for your £1000 there I can assure you of that.

my son went to florids last month, took £500 spending money, spent that all on clothing & trainers,but said he could have spent loads more!! his girlfriends parents paid for everything else!
#27
alchemista

If it were 1.975 for example, Change $50k to £25,065.80. Then change the £25,065.80 to $50131.60. Instant $131.60.

The rate difference would have to be higher though to make it worth your time probably. Plus if you're exchanging that much money, it's probably going to flag you with US or UK authorities. It's a neat idea though!


Authorities aren't likely to bat an eyelid at those sots of figures given that so-called institutional investors make far larger FX transactions on a daily basis(often several times per day), and also hold open 'currency forward' positions for months into the future - essentially 'betting' on future FX rates.

And the example you've given provides a yield of approx 0.25% - not great, but that's because your maths is all wrong!

50000/1.975 = 25316.46
25316*2 = 50632.92

50632.92 - 50000 = 632.92 profit ;-)
#28
got a relative coming back from the USA. he offered to bring us (me + family) an item each.

now im probably going to ask for a bunch of converses or something, but i also see this as a money making oppertunity... anything worth nothing in usa but worth loads here?
#29
guv


A little bit of information is a dangerous thing in the wrong hands - an interbank forward rate isn't the same thing as the future spot rate... :roll:
suspended#30
GREAT RATE, MY FAMILY GOING TO USA IN 8 WEEKS, TAKING £3000 SPENDING - DON'T KNOW WHAT PROBLEM IS WITH THIS! WHO'S GOING TO GO TO USA WITH LESS THAN £1000? NOT ME I WANT A GREAT TIME AND I WANT MY KIDS TO HAVE A GREAT TIME TOO!!!! ONLY THING IS I CAN'T SEE THE RATE ON THE WEBSITE. IS IT ONLY IN THE SHOPS? IF SO WILL DEFINITELY USING THOMSON. I HAVE BEEN SEARCHING FOR A GOOD RATE FOR MONTHS (USING A REPUTABLE COMPANY) I KNOW M&S ARE SUPPOSED TO BE GOOD BUT CAN ONLY GET ABOUT 1.91 AT THE MOMENT FROM THEM, THE HIGHEST IS 1.93. GREAT DEAL - THANKS ALOT!:thumbsup:
#31
We're going next year (June) for 3 weeks and I doubt i'll see an offer like this again for some time so going to change £2000 this morning, should do nicely for our spends (me, missus and 2 kids).

Dave.
#32
jaydeeace


50000/1.975 = 25316.46
25316*2 = 50632.92

50632.92 - 50000 = 632.92 profit ;-)


Hmm, please tell me where you can convert $ to £ at 1.975?
Best rate for converting $ to £ I can find is 2.12, in essence losing out when changing from $ to £ again

50000/2.12 = 23584.91
23585*2 = 47170

50000 - 47170 = 2830 loss
#33
give your local thomson travel agent a ring before you go.Just in case they run out of dollars.The lady took my name and amount I wanted,and put away one side for me.I exchanged 3/4 in travellers cheques and rest in cash.And I also be taken my Nationwide credit card with me for emergency.
#34
Good deal yet very high spend I already have my 700 - 800 for my holiday.
#35
Fantastic deal but tried numerous Thomson shops yesterday and all were sold out of dollars. Makes me wonder how much they really had in the first place - and no their website is not doing the offer either :roll:
#36
gR8_mUndA
lol $2000 for a trip, haha


family of four three weeks in US $2000 = $24 a day that's £12 a day each not exactly the Beckhams
#37
ronaldmacdonald
Hmm, please tell me where you can convert $ to £ at 1.975?
Best rate for converting $ to £ I can find is 2.12, in essence losing out when changing from $ to £ again

50000/2.12 = 23584.91
23585*2 = 47170

50000 - 47170 = 2830 loss


I wasn't suggesting that rate, just picking up on someone else's example and pointing out their bad maths :roll:

Where did you get 2.12, just out of interest? if 2.12 USD is the cheapest you can buy GBP for, then of course you will lose out (it's hardly rocket science!)

Current 'benchmark' rate is 1.9826: Source: Oanda.com
#38
jaydeeace
I wasn't suggesting that rate, just picking up on someone else's example and pointing out their bad maths :roll:

Where did you get 2.12, just out of interest? if 2.12 USD is the cheapest you can buy GBP for, then of course you will lose out (it's hardly rocket science!)

Current 'benchmark' rate is 1.9826: Source: Oanda.com


Post office and Natwest both using between 2.12 and 2.14. Benchmark rates are good. Real world rates are what we are stuck with unfortunately :thinking: - unless someone else knows who is giving <= 2 for my dollar.
#39
Whats the highest the pound has been against the dollar? it was about 1.47 in the mid to late 90s IIRC.
as said before $2000 really isnt much for a holiday in the US, any left over can be spent getting games consoles, computer parts etc ;)
#40
Nationwide CC/DC combo works out the best I think, even though this 2:1 deal is pretty good (albeit you walk around with large wods of cash). It's a good way of filling up a USD bank account (citibank etc) if you have one here or Stateside..

PS I lived in France for about a year and took out a local (Soc Gen) account + card. I used to make withdrawals from that (limited to their own branches of course, else fee), until I realised that Nationwide had free withdrawals on their DC. What's more, with Nationwide the rates are always spot on... never 1% out to compensate for no commission or anything like that.

Now I've got both the Nationwide CC and DC (flex account) purely for holiday use.

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