Where can I get the best currency conversion rate for pounds £ into Dollas $ ?
The major banks compete with each other and, therefore, won’t skin you too badly. However, when traveling overseas you might want to think about doing it this way … get just enough foreign currency for the first day or so and take your direct debit card with you. Then get the foreign cash you need from local ATMs in the cities you visit. Sure, you pay a bit for the service from the foreign bank and you pay another bit for the banks to change the currency for you. But you always get a very good rate on the currency conversion itself and stop worrying about whether you’re being ripped off. {You do have to read the language well enough to understand the ATM, of course.} The only countries where I don’t do this are the ones where I know the street conversion rate is far better than the official one. [Venezula is an example.] For those, I find out which foreign currency is best to bring [most in demand — pounds, euros, US dollars, yen] and arrange with my bank to bring that currency. {a
Having been there, done that, and at times paid as much as 20% for conversion, I have found the cheapest way is to use Bank of America ATM’s. Use your B of A card to get cash in any European Country in the currency of that country. They are located all over Europe, usually in department stores like Walmart, even some Mc Donalds, etc. Just look for a name you recognize and check inside near the entrances. B of A totals all the cash withdrawals in one billing cycle and charges one conversion fee (usually around $1.75 US, and gives the actual conversion rate. Happy touring.
