Found 8th May 2008
Hi all,
I'm looking to buy some US dollars for a trip to Florida next June. I would really like to get $2 to the pound. I don't mind taking out a deal in advance, eg. pay now receive the dollars in December, if it will get me a good rate. Could you please post a reply if you know of anywhere that will give me $2 to the £1 using this method or, for that fact, any method.

Thanx all in advance.

el-beatle

  1. Misc
Groups
  1. Misc
11 Comments

you can get good rates in two ways:

1. Get forward rate as you say: currently crownexchange quoting 1.98 for december pick up (crowncurrencyexchange.com/con…asp)

2. Get a Nationwide Debit Card for two reasons:
- they dont charge overseas cash withdrawal (but the overseas bank may for a small amount)
- the rate you get by withdrawing US$ overseas is an interbank rate which will most certainly be higher than the high street rate (e.g. last month I got 1.98 by withdrawing US$ from Bank of America ATM in New York. The high street rate at the time was 1.90)

If you're anywhere near London try going to the exchange shops dotted all around Victoria station, I always go there and get a rate much closer to the actual exchange rate than Thomas Cook or the PO.:thumbsup:

Banned

nationwide.....

As there's over a year until your trip, can't you put your cash into a high interest account or mini cash ISA for 12 months and then buy closer to the time? - that way you'll get far more sterling to exchange for dollars!
This method does of course rely on the current exchange rates not budging that much!

NEVER get money in a shop. Banks do it at exchange rate for no profit normally, or at least HSBC, but with HSBC since its all over the world, you just use yoru debit card and it doesn't charge you for trasactions.

However if your buying in December, You can buy now at a bad rate or wait and hope the rate gets better but in my opinion, I don't think its gunna improve at the moment. Cost push inflation from Oil is gunna drive everything up. Which is then gunna ****** the exchange rates some more.

nuabdi;2059177

you can get good rates in two ways:1. Get forward rate as you say: … you can get good rates in two ways:1. Get forward rate as you say: currently crownexchange quoting 1.98 for december pick up (http://www.crowncurrencyexchange.com/content/us-dollars.asp)2. Get a Nationwide Debit Card for two reasons:- they dont charge overseas cash withdrawal (but the overseas bank may for a small amount)- the rate you get by withdrawing US$ overseas is an interbank rate which will most certainly be higher than the high street rate (e.g. last month I got 1.98 by withdrawing US$ from Bank of America ATM in New York. The high street rate at the time was 1.90)



Good advice...........repped :thumbsup:
Just one query though , you put DEBIT card. Did you mean Debit or Credit Card or are there specific advantages in using a Debit Card ?? Thanks

Banned

As mentioned, Crown exchange seems to give the best rates for advance purchases. I doubt you will get any better.

hottoshop;2061668

Good advice...........repped :thumbsup:Just one query though , you put … Good advice...........repped :thumbsup:Just one query though , you put DEBIT card. Did you mean Debit or Credit Card or are there specific advantages in using a Debit Card ?? Thanks


Nationwide debit card doesn't charge fee for purchases or ATM withdrawals and you'll get business not tourist rate, so always higher.
Credit card doesn't charge fee for purchases but will apply loading charge (think ~2%) for ATM withdrawals.
You need acurrent account to apply for debit card but anyone can apply for credit card.

Hope this helps.

Original Poster Banned

SunTzu;2058545

Reckon you'll be … Reckon you'll be lucky!http://www.onlinefx.co.uk/fx/Stores/OnlineFX/exchangerate.asp



Thanks for all the advice, managed to get $2 to the £1 for delivery in December. Really glad as I can now just half the price of everything out there to get the price in pounds.:thumbsup:
Post a comment
Avatar
@
    Text
    Top Discussions
    1. Analogue's Super Nt SNES Wants to Do What Nintendon't38
    2. Mercedes-Benz recalls 400,000 cars in UK over airbag fault67
    3. 02 priority22
    4. The HUKD Wuntu code sharing thread! (Three Mobile)89177

    See more discussions