very shortly i go on holiday to oz,
how do i get the best exchange rate.
do i take gb pounds and exchange there ?
or do i exchange my money here in the uk ?
and where is the best place to exchange my money.
any thoughts please.
many thanks garry.
marks and spensers is apparently the place to go
You can buy me a beer in whatever currency you choose
I am going to oz in november and have just changed some money up at barclays it was commission free!!
I would guess you'll get reasonable exchange rate at the post office. I wouldn't change too much though - one of the best ways of changing money is simply to put your card in a cash machine once you're over there. The rates you'll pay depends on who you bank with but are generally better than the over the counter rates available at the likes of Thomas Cook etc. Most banks will also charge you a cash fee too, which is normally 75p to £1.50 depending on the bank so it tends to be best to make fewer, larger withdrawals - usually I take out about AU$300.00 in one hit.
If you bank with someone like the Nationwide (as I do) you get no cash charge at all and no conversion fee either. I have noticed, however, that some banks can be quite expensive so it's worth checking. I banked with Lloyds TSB for fourteen years but closed all my accounts and moved to the Nationwide when they suddenly ramped up their charges for foreign travel. Barclays are even worse.
Why don't you just use your credit card out there, in some banks they won't charge you to use your CC overseas and you can take money out of the atm's over there, saves you carrying TC and Cash.
thanks guys ...been a big help.