I would like to surprise my parents by getting them £1000 pounds spending money for their USA holiday.
I would like to buy the Dollar now whilst the exchange rate is good with the Pound.
Can you just go into a post office and exchange the cash for cheques/notes straight away?
And is their any other important advice anyone can give me regarding buying cheques/notes. I know that the post office is best to buy from as they dont have any commission charges but i am not to sure if they have competitive rates.
Look forward to any replies
Stu this is alot to get in cash and as for T/Chqs you will be carrying them unsigned until your mother/father sign them which can be a bit unsafe to say the least. A lot of exchange places wont even let you do it (worked in Foreign Exchange after l graduated!)
Anyway someplaces will let you buy a card and l know the US currency is an option where you can top up the card and then it is used as a credit card.
Travelex - ordering online gives you a better rate of exchange and is commission free! You then collect the currency at the travelex shop! I have found they are better than Post Office BUT only by ordering on line (you have to pay online too).
Marks and Spencers are also competitively priced - though lm not sure if they charge commission or not! Though it may be nominal and it might be worth it if the rate is good!
For the amount you are looking for l would pre order the notes at least 24 hours in advance of collection!
Hope this helps!
If i was changing £1000, i would buy cash. This is the cheapest exchange. Yeah, i know some people would say this is not sensible. But it is the cheapest way, and if u look after the cash, by carrying it, in a money belt inside your clothers it is unlikely to be stolen.
But also, i think u could put the money, in your parents bank account, and they can withdraw it, at an ATM, in the US. I have not been to the US for 17 years, so maybe somebody else could confirm, that this is possible.
U probably know the following already, but in case u dont.... U could compare exchange rates. U can not only change money at post offices, but at banks, hotels and money exchange booths.