Best Places in London to Exchange Currency?

[syesmar]

Hi,

I'd like to hear from previous visitors to London about where the best place is to exchange currency? I want to make sure fees and rates are not excessive.

 

THANKS!

[LHT28]

We just used an ATM

[Missus Makkem]

Hi,

I'd like to hear from previous visitors to London about where the best place is to exchange currency? I want to make sure fees and rates are not excessive.

 

THANKS!

Try Marks and Spencer, or any branch of the Post Office.

Usually the best exchange rates going with no commision

[sandancer]

I agree with Mrs Makkem, M & S or the Post Office for TOURIST exchange rates. If you have a debit card which allows you to withdraw funds commission free then use an ATM and get the current BANK rate. In the UK we have a couple of banks who issue cards which do not carry any charges and we always use an ATM whenever we are out of the UK.

[beachlover143]

If you have Bank of America debit card then use Barclay's in London. Just use the ATM. BOA has an agreement with Barclay's and will not charge the extra $5.00 if non BOA partner. I looked up locations - Barclay's is all over - banks and ATMS. There may be a tranaction fee along with exchange rate - but not extra $5.00 for non partners.

[TedC]

We use our HSBC debit card at the HSBC ATM office a block from Trafalgar Square and close to Charing Cross train station - no fees or commissiion and the lowest going rate.

[kruzin']

:) by far the post office

[two sheds]

Thomas Exchange Global are very good ("We won't be beaten on price")

 

http://www.thomasexchangeglobal.co.uk/index.php

 

And they have two central London branches at Victoria and The Strand

 

http://www.thomasexchangeglobal.co.uk/contacts.html

[handfordr]

Although airport exchange kiosks are notoriously expensive, if you order currency in advance at the Travelex website and collect on arrival at the airport its very good

Their web site also shows what you'll get compared with the other normal 'best buys' like the Post Office and M&S and normally you'll get more for your money than these.

[whogo]

Thomas Exchange Global are very good ("We won't be beaten on price")

 

http://www.thomasexchangeglobal.co.uk/index.php

 

And they have two central London branches at Victoria and The Strand

 

http://www.thomasexchangeglobal.co.uk/contacts.html

 

two sheds has the correct answer for those who do not have a good debit card. Unfortunately the first link for Thomas Exchange Global shows comparisons for sell rates only, and you want to buy pounds. http://www.thomasexchangeglobal.co.uk/exchange1.php shows the current buy rate at US$1.66666/£. The current interbank rate is US$1.642/£. Thomas Exchange Global has a current markup of only 1.5%, beating many debit cards.

 

Thomas Global Exchange's chart shows that the Post Office, Travelex, Marks & Spencer have markups of 3 - 4% on their sell rates. Their rates for buying US dollars will be worse.

 

Travelex UK offers the phone ahead rates only for selling pounds, not buying them. They quoted a markup of over 20% to me at Heathrow last October. Buyer beware! Travelex phone ahead rates in US airports will have a markup of over 8%.

 

You can check the markups of many debit card and credit card issuers here: http://flyerguide.com/wiki/index.php/Credit/Debit/ATM_Cards_and_Foreign_Exchange

[scottbee]

Hi,

I'd like to hear from previous visitors to London about where the best place is to exchange currency? I want to make sure fees and rates are not excessive.

 

Any bank at home should be able to do this for you before you leave. I can walk into my (small branch) Bank/Credit Union here in Vancouver and buy US$/UKPounds/Euros (they generally have all 3 in stock) and other currencies you just pre-order a couple of days in advance

[Tesla]

Hi,

I'd like to hear from previous visitors to London about where the best place is to exchange currency? I want to make sure fees and rates are not excessive.

 

THANKS!

 

I've always used Atms when traveling overseas.