9/23/2023 0 Comments Exchange dollars to pounds london![]() You tell them in no uncertain terms that they have just violated the rules of the credit card company by not offering you the choice of paying in local currency. This is discussed on other threads about the near criminal dcc activity. Ask your bank how much they rip you off to use your ATM in a foreign ATM, it should be $0 but some banks charge as much as $5 with many about $2.get a bank which charges the proper fee for accessing your money which is $0. The British banks, for the msot part, won't charge you. Make sure you are not using a bank which charges for withdrawing from an ATM. Small amounts of cash to supplement as needed from ATM's. credit cards everywhere they are taken and they are taken most everywhere.Ģ. Why wouldn't it be safe to use credit cards on British Rail? Don't understand that question.ġ. You can read other threads as to what to do if they try to pull this near criminal activity on you. Pubs don't take credit cards for drinks at the bar but many do for food, some fast food chains don't take credit cards but that's changing (as it is in the US).most internet cafes don't take credit cards, convenience stores usually don't take credit cards to buy odds and ends but groceries do.Īlthough it's not a big problem in London yet, make sure that on the credit card slip they ask you to sign you do not see an equivalent amount in US dollars they are trying to rip you off with a scam called dynamic currency conversion or dcc. BTW most museums in London are free now so you don't need credit cards for admission. Use credit cards everywhere they are taken and they are taken almost everywhere. Upon arrival at Heathrow pull cash from an ATM. The only way to travel in the 21st century is:ġ. Somebody said not to use credit cards as the banks charge largest fee is about 3% above interbank rate.guess what, the best you will ever get for exchanging cash is 8 or 9% above interbank and on top of that many exchanges charge fees on top of that. If you visit Scotland you'll find their notes are a bit different, but are interchangeable with Bank of England notes there, the further south you go the less keen shops will be taking Scottish notes, so spend them in Scotland.The misinformation that abounds on these boards is amazing. ![]() As far as most of the rest of the world is concerned there's no problem I know of.Ĭlearly you don't want to go out with no UK cash, but carrying large quantities isn't common and has its own risks. Some US cards aren't chip and pin, they'll work as long as there's a human who can remember the signing process and can be bothered (and if they are a minimum wage student they may not know, and neither might their manager outside tourist areas). Chip and pin Credit cards (or Debit Cards) are widely used for most other purchases. Look for the logo in shop and restaurant windows.ĪpplePay and AndroidPay and Contactless cards are increasingly being used for purchases up to £30 - it's a generational thing, but I'm over 60 and use it as much as I can, so I guess cash is on it's way out. MasterCard and Visa are very widely accepted Diners Club and Amex less so - other cards will be viewed with suspicion and probably rejected. You can manage the overall costs by not changing money you won't use, changing in larger quantities, using cards with low or zero fees (and keep an eye on the f/x rate), avoid changing money at airports or obvious tourist destinations unless it's vital. You may need to do some sums before you arrive as to which works best for you. Alll you care is how many £ do I get for £100 dollars. Frankly you don't care how it's constructed. The bureau de change may offer commission free transactions, but give you a bad rate and charge a fee. People stepping on or off planes are generally an easy target for a high margin sale.Ĭosts come in two forms, a fee (or commission) and a mark up on the market rate, any party in the chain can, and potentially will, charge - the ATM might be free, but your bank might charge for foreign currency withdrawals, or they might be free but at a bad rate. ![]() Airports are expensive places to locate businesses and costs are usually higher. ATMs still occupy space and have infrastructure costs, so whilst they might be cheaper they still aren't cost free. The 'market rate' can be found at XE.com - it changes by the millisecond and you'll never get it at a bank or post office or bureau de change - you have to be a currency trader to even get close.Īny place with a physical presence (bank, post office, department store etc,) has overheads to cover - things like rent staff and IT costs, you'll pay for those somehow. Apologies for posting a generic response but here goes.
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