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Exchange from USD to British Pounds

palmbeach
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126 posts
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Exchange from USD to British Pounds

Greetings Advisors,

I researched little bit on existing forums. However advisors ideas help:

1. Is it better to get GBP from U.S. Banks before leaving United States or exchanging at the Heathro Airport?

2.Does supermarket tesco accept debit cards and give cashback? Do they charge exchange fee?

-Thanks

London, England
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for Solo Travel
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1. Re: Exchange from USD to British Pounds

Change £100 in the US before you come in case the ATM you want to use has a long queue, then get the rest from London ATMs. Check with your bank to see if there is a relationship with a London bank that makes the fees lower in one rather than another.

At least some Marks and Spencer's have money exchange offices, but they are separate from the tills.

Waitrose, Sainsbury's and Marks and Spencer's certainly take English debit cards and give up to £50 cash back, but I have no idea if that works for US debit cards, especially if the card didn't have a 4 digit pin number (which you would put in a gizmo at the till).

If it did work, the supermarket wouldn't charge you the fee, but your bank might.

I've never tried to use my UK debit card at a supermarket in the States, although it works fine at a US ATM.

r c
Portland, Oregon
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2. Re: Exchange from USD to British Pounds

Palmbeach40,

yes. contact you bank and see if they have any branches or work with other banks in the UK.

if that doesnt work then look at the back of your card. you should see some type of network symbol associated with your bank.

thats what i look for in using ATMS and such when i travel.

also, what i do, is if one doesnt work, i move to another one thats a different bank or whatever.

while youre at your bank or whatever, ask or look on line for their "fee schedule" it may have some info as to any charges (there will be) for buying foreign currency. and while youre at it, you may want to find out if there are any fees/charges for using your card overseas for purchases and/or withdrawals.

one last note. If you know when you will be going, let them know the dates so they wont block your card when youre over there. They may think that someone has stolen your card.

London, United...
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3. Re: Exchange from USD to British Pounds

I think that the last time 'cash back' was discussed the reports indicated that it didn't work with US cards.

palmbeach
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126 posts
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4. Re: Exchange from USD to British Pounds

Thanks everyone. I am thinking to exchanging in the Heathrow Airport

Is there any Currency Exchange in Terminal 5 Heathrow Airport? Are they open all the time? Do they offer good rates

Thanks again

Gainesville, Florida
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5. Re: Exchange from USD to British Pounds

No, don't exchange at a booth. You'll pay high fees. Simply withdraw from at ATM.

Redlands, California
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6. Re: Exchange from USD to British Pounds

ATMs in central London will give a better rate than those at Heathrow, but don't fret too much over a few bucks. And yes ATMs are the way to go. They're everywhere in London (bank ones). Make sure you have a 4 digit PIN.

Raymond Terrace...
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7. Re: Exchange from USD to British Pounds

Personally I recommend changing your USD to GBP prior to leaving the US, as you will get a better exchange rate. If you decide to use ATMs during your holiday, find out from your bank what their fees are for withdrawing money from ATMs that aren't affiliated with your bank. Check at the same time that your US bank issued ATM card will work in the UK.

8. Re: Exchange from USD to British Pounds

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palmbeach
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126 posts
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9. Re: Exchange from USD to British Pounds

I found local branch at Wellsfargo exchanges currency . Online shows 176USD to get 100GBP ( 4% more than regular rate ).

https:/…locator.html

PNW, US
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10. Re: Exchange from USD to British Pounds

I just paid $100 for £52 at AAA. Ouch!

I'll be getting the rest at ATMs upon arrival.