Best place in the UK to change $$ to GBP ?

thedoc46 · 8 Jul 2016 at 20:29

expat here, going to Blighty for a trip. Will bring USD cash and looking for the best place to change it up to GBP... Who does the best rates?? Banks / Post Office or those exchange booths? or somewhere else i've not mentinoed?

Not talking a huge amount, perhaps a couple of k. Should see me thru the trip.

robfosters · 8 Jul 2016 at 20:36

The way things are going about $50 should do you.

Ahleckz · 8 Jul 2016 at 20:37

If I have to exchange cash, I find ICE give the best rates. They honour their delivery rate of you show the voucher from their website on your phone in their shops.

delta0 · 8 Jul 2016 at 20:56

I use Thomas Exchange. Generally you get the best rates if you book it in advance. I book it just before I go into the branch.

[TW]Fox · 8 Jul 2016 at 20:58

You'll get a fairly terrible rate doing that. Better to just bring a decent card and withdraw it here.

thedoc46 · 8 Jul 2016 at 21:05

i don't think my visa hits me hard for exchange rates, at least i think that's what i read.. i'll call 'em up... Not flying out til Weds so got time ! Loving the exchange rate atm

probably doesn't help you lot out going on holiday, but for me, its a winner ! heck i should even move back, actually scrap that.... no money in the world is worth that !! lol

jon86 · 8 Jul 2016 at 21:06

Chase Sapphire Preferred credit card.

No foreign transaction fees
$0 intro annual fee for the first year, after that $95 (just cancel after one year)
Good bonus offers of credit card reward points

EDIT: Ah, you're going on Wednesday. I would just use a credit card and withdraw cash when you're in the UK. Pay it back quickly via internet banking and you shouldn't accrue too much interest.

delta0 · 8 Jul 2016 at 21:09

Just to add to the Thomas exchange suggestion I made earlier. Their rate is 1.313 https://www.thomasexchange.co.uk/buyback.asp you can use this to compare to your card rate.

thedoc46 · 8 Jul 2016 at 21:14

jon86 said:
Chase Sapphire Preferred credit card.

No foreign transaction fees

$0 intro annual fee for the first year, after that $95 (just cancel after one year)

Good bonus offers of credit card reward points

EDIT: Ah, you're going on Wednesday. I would just use a credit card and withdraw cash when you're in the UK. Pay it back quickly via internet banking and you shouldn't accrue too much interest.

i have an Amazon CC, and that's Chase... Guess i need to hit 'em up and find out.

Raikiri · 8 Jul 2016 at 21:15

Just bring some $1 notes, toss them out at random and make demands.

thedoc46 · 8 Jul 2016 at 21:18

Also just wanted to mention i bought a new Arai helmet (normally $872 in the US delivered) I paid 450quid from a UK supplier, and they're throwing in a free visor, so that means paying less than $600.... Not a bad little saving. Delivered to the UK of course at that price.. But that's over a $300 saving, especially if you take the tinted visor into consideration. Soon as everyone in the US cops hold of the idea goods are cheaper UK mail order will sky rocket !

jon86 · 8 Jul 2016 at 21:21

You can see what the VISA exchange rates are right now.

https://usa.visa.com/support/consum...=USD&toCurr=GBP&fee=0&exchangedate=07/08/2016

If you use a no fee card, you should get the VISA rate, which is currently £1 = $1.304870.

EDIT: Apparently Mastercard can be slightly cheaper than VISA, although Chase Sapphire Preferred has what is widely considered one of the best point programs in the USA.

Diddums · 8 Jul 2016 at 21:37

Jon86 do you work for Chase or summat?

jon86 · 8 Jul 2016 at 21:46

Diddums said:
Jon86 do you work for Chase or summat?

Hehe, nope. I just bank with Chase, and have a fairly expansive knowledge of US-based credit cards and credit card reward programs (having done a lot of research myself).

[TW]Fox · 8 Jul 2016 at 23:30

Kermit said:
Do you still have a UK bank account? If so soemthing like TransferWise US bank to UK bank will get you the market rate of exchange with very low fee

ie looking at the app now and $1000 transfered would get you £764.11 @ exchange rate of 0.7718 after $9.90 commision

How is that better than just using that Chase Visa card?