Foreign exchange bureaus don't give you the best rate
We recently got this question about where was the best place to exchange foreign currency to get the best rate for British pounds.
Last year I did a couple of posts about how you see so many tourists getting ripped off using foreign exchange bureaus. I’ve grouped those posts into this article so that you can have a quick guide as to what to do.
I feel so sorry for the tourists I see queuing up to be ripped off at foreign exchange bureaus in London or even worse at the airport.
To ensure you’re not one of them get your cash from one of the online currency exchange bureaus before you leave for London. The exchange rates they give will be way better than anything you’ll find in London and will be better than rates offered by your bank.
The two that I use when travelling abroad are Crown Currency or Travelex. Both offer good rates with Crown usually the best.
However you have to be a British resident to use Crown, whereas Travelex cater for almost anyone and you pick up the currency at the airport. Do a Google for foreign currency exchange and you’ll find many others.
ATM’s
The other alternative is to check with your bank to see if you can use your debit card in the ATM’s over here. If they say you can, find out what rate they charge, what fee there is and if there’s a limit to how much you can withdraw.
Depending on the bank these fees shouldn’t be too much and the rate they charge will easily be better than exchange bureaus in London or at the airport.
When it comes to using the ATM’s here just go to any bank, below I’ve put a list of the most prominent banks that you’ll come across. If however you can’t see a bank just ask someone where the nearest bank or as we call ATM’s, Cashpoint is.
One word of caution with ATM’s only use the ones from one of the banks and not one in a pub or shop. Many of the ones in pubs and shops will charge you an extra fee on top of whatever fee your bank charges you.
The reason for that is that those ATM’s are run by private companies who make their money by charging you to use them. At the time of writing the banks listed below do not charge you anything extra.
Here are some of the banks, in no particular order, that you can use in London:
Barclays, NatWest, HSBC, Lloyds, Abbey, Halifax, Royal Bank of Scotland
When you’re in central London you’ll never be that far from one of these banks and like I said if you can’t see one, just ask someone.
What every tourist ought to know about London
To get more useful information to help you on your vacation. Take a look at the free eBook we have written, What Every Tourist Ought To Know About London. It helps you in planning your vacation and helps when you’re here. You can download it for free at EPok.com.
Also if you’re looking for a London travel guide book to buy take a look at the review we did on 7 of the most popular ones. Click London travel guidebook review.
Previous articles you might find interesting:
- What every tourist ought to know about visiting London
- 6 Traditional London pubs to try when visiting London
- Visiting London and want to know London secrets – these 15 London blogs will help you
- So many things to do in London where do you begin – Here’s a couple to try
- Are London bloggers critical enough of London events or just part of the PR?
