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Hi all


does anyone know if the post office on the lane does foreign currency? Anyone got a number for the actual post office? searching for a number on google to no avail yet (thought i had hit the jackpot on lordshiplane.something but it has the fax number listed as the tel number).. thoughts whilst I was trawlling google someone might know and then be kind enough to let me know..


x

In my opinion, American Express.

But not one in Central London as their rates are less because their (business) rates are higher (get what I mean?)

There's one in South Ken I tend to go to.

All the companies will say they'll match everyone else, but somehow (being someone who goes to USA quite a bit) I have found AmEx always the best.

Have a good trip!

Oh yes, another point. I bought a heap of USDollars and paid with my Abbey debit card once (about 4 years ago) and when my statement came, Abbey had taken ?4.50 off me for it. I told the PO about this and to be fair to them (in Clapham, sorry but that is where I was working at the time!) the PO reimbursed me and now when they remember they warn people in advance. My Nationwide Debit card the next time though resulted in Nationwide not charging me.


But then I discovered AmEx had better rates!

I use http://www.cityforex.co.uk/ who are excellent. Amongst the things that make them excellent are that they deliver the next day to Canary Wharf, have very competitive rates, don't charge commission, give you bills in sensible combinations of denominations and give me a discount just because I work for the company I work for!

What do people do with foreign currency - Is this for holiday use? I just go abroad and use the hole in the wall with my debit card. Couple of hundred poounds at a time, as needed - does not seem to be a problem - have not really ever checked the rates but I read a few years ago the rates on debit cards were fine - I guess you are taking out local currency so no costs to the banks in holding foreign currency or employing someone to give it to you.


Perhaps some people don't like to arrive abroad without local currency in their pockets on arrival, but its always been ok for me - most airports have cashpoints.

An ATM outside the UK will often charge you (or your bank, or sometimes even both will) for the privilege/convenience. Even if they don't, then the rate will be less favourable (unless currency rates have changed significantly in your favour while you were on the plane). Maybe you're lucky enough not to be bothered, but look at those transactions in detail once you're home....


And sometimes you just want to get something before you can find an ATM.

Horses for courses - its convenient using the hole in the wall but I don't like doing it on pricipal / bending over since my bank

1) gives a poor exchange rate

2) charges a 2.99% fee for taking out foreign currency on top

3) makes a further charge of ?2 or 1.5% overseas transaction fee, whichever is higher (capped at ?4.50)

Just for getting at my cash, and then the ATM owner probably has a bite too


If CityForex is the one at London Bridge Walk (next to Richer Sounds) then I agree that it probably has the best rates in London for major currencies. If you are taking out a decent amount you can usually get them down a few points as well.

Mick Mac "What do people do with foreign currency". Here's what I did with mine.

I went to USA last year for 2 months. I bought several thousand dollars, cash and travellers cheques.

Carrying such a large amount of cash simply does not bother me, and it was in about 6 different places about my person and about my bag!

I did not use my debit card over there and do not have a credit card.

I bought the dollars at a good rate.

Came home not having spent them all so stored them for next time.

But

The rate fell, so I sold them back and ... made a massive profit.

Hoorah!

If you have a Nationwide Debit card then you don't get charged for using an ATM abroad and I do examine the statements very carefully and was getting the forex rate NOT the tourist rate.


There are loads of articles in the quality press about the best way to get your foreign currency and using a Nationwide Debit card came out on top - although obviously you have to have a Nationwide account first and they are not top in many other aspects (we have an account purely for holidays).

I use a forex comparison site. It basically comes up with the best rates. I think you can find it on the money saving expert website. Travelex consistenly comes up with the best rates, and you can reserve the money and pick it up in the airport if you want.

I bank with First Direct. If you sign up with them for their annual holiday insurance package (it's more than holiday insurance but I can't remember what the package is offhand) then you don't get charged for using ATMs when abroad.


I don't feel happy arriving in a country without cash. If I haven't got cab fare then I'm not a happy camper. The last time I went somewhere without cash was a trip I made to Hong Kong last April - the ATMs at the airport rejected my card for some reason. I had been lax about getting currency because I was meeting a friend at the airport. But still, I wasn't happy about not having some folding stuff of my own. It's not a good idea to rely on ATMs.

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