Whos doing good exchange rates?

Question

Hi, does anyone have any tips on whos doing good exchange rates in the UK at the moment?

Thanks

Answer 1

If you get your foreign currency in the UK, you will get ripped off.  You're paying the wages of the person changing the money and the bank's profits.  They don't do it for love.

The only way to get foreign currency without being ripped off is to get yourself a Nationwide Debit Card.  You then draw your cash from ATMs when you get there.  Nationwide don't charge commission and you get a commercial exchange rate (that means there's no fat fee built into the rate like there is with "tourist" rates).

Answer 2

Old Know All is correct, Nationwide card is the best overall rate you can get with because there are no charges & it's at a higher exchange than the tourist rate (for cash & travellers cheques)

You don't say what currency you want or where you are going, but check which foreign banks make a charge for withdrawal in the country you are visiting.

If it is Greece, NONE of the banks make a charge for the Nationwide card, I should know, I live in Greece & withdraw my uk funds all year round.  

Answer 3

The person who said Nationwide don't charge for ATMs overseas use is correct.  What they didn't tell you was that overseas ATMs mostly make a charge for you using their bank's machine.  This generally is something like £2.50 for the transaction or a sliding scale depending on how much money you have drawn out.  The Post Office are a reasonable price for exchanging currency.  We personally always take a mix of Travellers Cheques (you usually get a good exchange rate abroad for these), currency and using our ATM cards.  Check what is the best currency to take abroad, mostly Sterling will get you a good exchange rate but it is worth checking.  In USA dollar travellers cheques are best as they can actually be used for cash in hotels, shops and restaurants if the amount is small enough.  Worth doing your homework on this.