currency exchange on QM2

[babscruiser]

In January 2019, we will be sailing Transatlantic on QM2 to Southampton and then continuing on from Southampton to Dubai also on QM2

Can we exchange our American dollars for British pounds at the persers' desk on the QM2?

And, after we leave Southampton, can we exchange whatever is left of our British pounds back to American dollars?

     Are there any restrictions on making these exchanges?

Years ago, we had been able to do this, but we haven't tried lately.  Thanks for your help.

    Barbara

 

[Bigmike911]

There is a machine that exchanges currency on board. The Purser will also exchange it for you. Both of them will give you the absolute worst exchange rate on the Planet.

 

You can do far better. Your local bank usually can arrange to exchange dollars for pounds and vice versa  at your near by branch at a far better rate. You might check their Web site for details. 

 

You will rarely find that any one will exchange coins however, and the UK uses one and two pound coins, no paper money. 

 

As to limits. there will be reasonable limits to the machine and the purser exchange, and remember the US currency rule, if you have more than $10 thousand in any currency you must declare it on your customs form.

Edited October 27, 2018 by Bigmike911

[Underwatr]

Find an ATM in Southampton and your currency exchange (ATM withdrawal) will be much better for you financially.

[BigMac1953]

1 hour ago, Underwatr said:

Find an ATM in Southampton and your currency exchange (ATM withdrawal) will be much better for you financially.

Exactly, get your cash at ATMs , not with Cunard.

Better still, just pay by card.

[VintageCCG]

Well, the QM2 deals in US dollars, so you won't need sterling until you reach the UK.
You can visit an ATM in NYC and then another in Southampton.

For most onboard purchases you'll be using your Cunard card anyway, and then settling with your credit card before debarking. You really won't need cash for most transactions, other than for tips you want to make directly to staff.

 

Personally I like to keep my leftover foreign cash (US and Sterling) for my subsequent travels (tucked into my passport wallet), which saves me the cost of exchanging it back and then having to purchase more, plus it provides a pleasant surprise when I next visit each country.

[Underwatr]

46 minutes ago, VintageCCG said:

Personally I like to keep my leftover foreign cash (US and Sterling) for my subsequent travels (tucked into my passport wallet), which saves me the cost of exchanging it back and then having to purchase more, plus it provides a pleasant surprise when I next visit each country.

That's how I've ended up with more than one five Pound note that couldn't be spent, though. I was able to exchange one at a bank in 2011 but now I have one from a later trip that has also been withdrawn. And then there was the trip in 2004 when I tried to spend some "New Pence."

Edited October 28, 2018 by Underwatr

[tv24]

Yes,  you can exchange cash on board but as others have written, the exchange rate is absurdly horrible.  I'm not sure why you would need UK currency as you are continuing on to Dubai.  But if you are just spending the day in Southampton, you can use your credit card to buy things or lunch.  If you really need pounds, go to an ATM in Southampton, such as at the shopping mall where the Cunard shuttle takes you.

[Bigmike911]

15 hours ago, Underwatr said:

That's how I've ended up with more than one five Pound note that couldn't be spent, though. I was able to exchange one at a bank in 2011 but now I have one from a later trip that has also been withdrawn. And then there was the trip in 2004 when I tried to spend some "New Pence."

Yes, the withdrawn notes and coins has hit me a couple of times too. The five and ten pound notes are now printed on plastic, with a see through security device, I am sure that by my next trip in September,  the twenty will have been replaced too. The ATM at Barclays in St. James gave me two fifty pound notes, and then I discovered some merchants won't accept them as they are often counterfeited. Some time you just cannot win. 

 

The use of credit cards is a good way of paying, but for small purchases, and some taxi's that won't take them, a few Pounds Sterling comes in handy. I agree with getting money from an ATM, but that doesn't solve the OP's issue of converting pounds back to dollars. I think her bank is the best way to do that.  

[Underwatr]

If the money comes from an ATM, at least you only get hit with large conversion fees when you change that money into something you can use.

 

We did a multi-country Scandinavian cruise and I withdrew the equivalent of $50 in two or three currencies at ATMs as we traveled. By the time we got to London I knew it would be a long time before I'd be using most of those currencies again so I pooled them at a currency exchange office and took the one-time hit to convert them to Pounds.

Edited October 28, 2018 by Underwatr

[ToadOfToadHall]

57 minutes ago, Underwatr said:

We did a multi-country Scandinavian cruise and I withdrew the equivalent of $50 in two or three currencies at ATMs as we traveled. 

 

We did something similar on our first Baltic cruise. I got about £50 of each currency before we sailed and it turned out to be a waste of time. The next time I did not bother and just used my plastic when ashore. I think it's physiological for me; I hardly ever use cash now but I still feel happier with cash in my wallet.

 

[Underwatr]

Particularly in Sweden - they're early adopters of technology according to recent news stories - so I'd expect that credit cards and contactless payments would be widely accepted.

 

https://amp.businessinsider.com/swedish-people-embed-microchips-under-skin-to-replace-id-cards-2018-5

[Scorer9]

I'm amazed any ATM in the UK would ever have given out £50 notes. I've withdrawn £100+ every week for many years in the UK and have never received one.

[ToadOfToadHall]

4 hours ago, Bigmike911 said:

Yes, the withdrawn notes and coins has hit me a couple of times too. The five and ten pound notes are now printed on plastic, with a see through security device, I am sure that by my next trip in September,  the twenty will have been replaced too.

 

2020 is when the Twenty pound note will be replaced with a new plastic version. It's normally 6 months or so after the new notes are issued that the old one is withdrawn.

[ToadOfToadHall]

54 minutes ago, Scorer9 said:

I'm amazed any ATM in the UK would ever have given out £50 notes. I've withdrawn £100+ every week for many years in the UK and have never received one.

 

I've never had a £50 note from an ATM either. 

 

As an observation, we were in York on a holiday a couple of weeks ago and a saw a tourist (from Japan I think) proffer a £50 note and they had it refused.

Edited October 28, 2018 by ToadOfToadHall

[Scorer9]

It was in the post from Bigmike911 earlier today.

[ToadOfToadHall]

9 hours ago, Scorer9 said:

It was in the post from Bigmike911 earlier today.

Thanks, I found it and must have edited my response during the time you had put yours.

[Bigmike911]

It was the first time, I had gotten a  50 pound note either, I withdrew  400 pounds so maybe the amount of the withdrawal had something to do with it. Or perhaps it was the location in St. James' Street. Toad, thank you for the heads up on the 20's. I will make sure that I have sufficient 10's to pay for my Taxi from Heathrow in 2020. 

[luckymal]

20 hours ago, Bigmike911 said:

Yes, the withdrawn notes and coins has hit me a couple of times too. The five and ten pound notes are now printed on plastic, with a see through security device, I am sure that by my next trip in September,  the twenty will have been replaced too. The ATM at Barclays in St. James gave me two fifty pound notes, and then I discovered some merchants won't accept them as they are often counterfeited. Some time you just cannot win. 

 

The use of credit cards is a good way of paying, but for small purchases, and some taxi's that won't take them, a few Pounds Sterling comes in handy. I agree with getting money from an ATM, but that doesn't solve the OP's issue of converting pounds back to dollars. I think her bank is the best way to do that.  

 

 

I think the max you can withdraw is £300.00 per day from a ATM. I have never heard of anybody getting a £50. Note from a machine.

One idea for getting rid of foreign currency at the end of your trip, give it the crew for tips they will know how best to exchange it.😇😇

[ToadOfToadHall]

38 minutes ago, Bigmike911 said:

It was the first time, I had gotten a  50 pound note either, I withdrew  400 pounds so maybe the amount of the withdrawal had something to do with it. Or perhaps it was the location in St. James' Street. 

This has interested me so I've been Googling it and it seems that only Barclays' ATMs issue £50 notes, and then only at a few ATMs in London (that's the best info I could find).

 

So that would tie up with your £50 from Barclays in London.

 

In the UK, for some reason which I don't really see why, people think only drug dealers etc use £50 notes and for that reason there is a reluctance of shops/bars/etc to take them.   

[Neuhoftraveler]

4 hours ago, ToadOfToadHall said:

This has interested me so I've been Googling it and it seems that only Barclays' ATMs issue £50 notes, and then only at a few ATMs in London (that's the best info I could find).

 

So that would tie up with your £50 from Barclays in London.

 

In the UK, for some reason which I don't really see why, people think only drug dealers etc use £50 notes and for that reason there is a reluctance of shops/bars/etc to take them.   

In our part of the US, $100 bills are often viewed with suspicion, even $50 bills.  We stick with $20's or smaller, and do everything possible by credit card.

 

For the OP: It bears repeating, US credit cards often/usually have foreign transaction fees ranging from 1.5 to 3% (including on dollar-denominated purchases from a foreign merchant including, it is said, Cunard on-board), so for your travels abroad just get one of the cards that doesn't impose them, such as Capital One Bank's.

[Bigmike911]

5 hours ago, luckymal said:

 

 

I think the max you can withdraw is £300.00 per day from a ATM. I have never heard of anybody getting a £50. Note from a machine.

One idea for getting rid of foreign currency at the end of your trip, give it the crew for tips they will know how best to exchange it.😇😇

The amount limit is a function of your bank's limit and the ATM owing bank. Apparently BofA had a higher limit, and the Barclays ATM supported it. 

[ToadOfToadHall]

Nationwide, for example, is £500/day. HSBC is £300 but their premier account is £1000. Barclays is £300 but their premier account is also £1000.

 

So each back and/or account have different limits.

 

 

[pepperrn]

6 hours ago, ToadOfToadHall said:

... In the UK, for some reason which I don't really see why, people think only drug dealers etc use £50 notes and for that reason there is a reluctance of shops/bars/etc to take them.   

I understand it is not just that issue.

 

£50 notes are seen so very rarely in shops, bars etc that knowing that the one offered is genuine (and not a clever fake) can be an uncertain business (unlike £20, £10 or £5 notes which are seen daily and therefore an "odd" one is more likely to stand out).

 

So, armed with a fake £50 note, your fraudster buys a low value item (under £5) and, if the shop takes the note without question, gives him what he most needs; £45+ in real, genuine money. He goes in with a scrap of coloured paper, and comes out with almost £50. Easy money.

 

To an attempt to prevent this, some shops won't take £50 notes unless the purchase is £25 or more. Far more simply won't accept them to prevent taking the occasional fake.

 

The same issue happens in England with Scottish or Northern Ireland notes; they are seen so very rarely in England that many people in shops, restaurants etc cannot tell a genuine one from a fake so, rightly or wrongly, use great caution and refuse to take them.

 

There are plans to replace the paper £50 note with a plastic version in a few years (the £20 note will be replaced far sooner) in order to give people confidence in the large value note (plastic notes are much more difficult to fake successfully).

Edited October 29, 2018 by pepperrn

[Bigmike911]

On 10/29/2018 at 4:18 PM, pepperrn said:

I understand it is not just that issue.

 

£50 notes are seen so very rarely in shops, bars etc that knowing that the one offered is genuine (and not a clever fake) can be an uncertain business (unlike £20, £10 or £5 notes which are seen daily and therefore an "odd" one is more likely to stand out).

 

So, armed with a fake £50 note, your fraudster buys a low value item (under £5) and, if the shop takes the note without question, gives him what he most needs; £45+ in real, genuine money. He goes in with a scrap of coloured paper, and comes out with almost £50. Easy money.

 

To an attempt to prevent this, some shops won't take £50 notes unless the purchase is £25 or more. Far more simply won't accept them to prevent taking the occasional fake.

 

The same issue happens in England with Scottish or Northern Ireland notes; they are seen so very rarely in England that many people in shops, restaurants etc cannot tell a genuine one from a fake so, rightly or wrongly, use great caution and refuse to take them.

 

There are plans to replace the paper £50 note with a plastic version in a few years (the £20 note will be replaced far sooner) in order to give people confidence in the large value note (plastic notes are much more difficult to fake successfully).

I still had some RBS and Bank Of Scotland pounds, quite a number of them, which I have been holding on to. The Taxi driver asked if I had UK pounds instead, which I did,  so I swapped most of them for GB notes, saving one of each as a souvenir.