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Need Currency Exchange Recommendations - Travel to Great Britain

Posted on 3/3/14 at 11:55 pm
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/3/14 at 11:55 pm
I'm planning to travel to Great Britain for 8 days (will also have a 1-day excursion to Paris) and was hoping for some advice regarding currency exchange. I last traveled in Europe mid 90s, so I'm approaching this as a noob.

Should I make the bulk of my exchange(s) prior to leaving (I can use either a local currency exchange outfit in Houston or my credit union), look for a currency exchange in London, or simply withdraw the necessary funds from an ATM once I arrive in London? Or some combination of those alternatives? I'm planning on spending $30-50/day on meals each for myself and my daughter (breakfast is included). I likely will use a Capital One Credit Card for any "large"/non-food items since the transaction fees are virtually nil. At the end of the day, saving money on fees and hidden costs is my primary goal.

Any and all suggestions would be greatly appreciated.
Posted by Uncle Stu
#AlbinoLivesMatter
Member since Aug 2004
33656 posts
Posted on 3/3/14 at 11:57 pm to
just put it all on BitCoin, frick the exchange rate
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
54460 posts
Posted on 3/3/14 at 11:59 pm to
I would definitely exchange at your own bank or credit union prior to leaving. Why only one day in Paris? Beautiful city to cover in one day. Have fun I hope to return to Europe soon I love it over there.
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 12:00 am to
quote:

just put it all on BitCoin, frick the exchange rate


I wish it were that simple.
Posted by el Gaucho
He/They
Member since Dec 2010
52886 posts
Posted on 3/4/14 at 12:00 am to
ask wiki about bitcoin
Posted by CT
Kate Upton's back
Member since Sep 2004
21054 posts
Posted on 3/4/14 at 12:01 am to
quote:

You will almost always get the best interbank exchange rate when buying foreign currency with either ATM cards or credit cards, which will usually be 2 to 7 percent better than the rates you'll get when exchanging cash or traveler's checks. Try to use credit cards whenever possible for large purchases such as hotel bills, tickets and car rentals. However, keep in mind that most credit card companies add fees for transactions made in foreign currencies. (Capital One is one of very few U.S. credit card companies that do not.) Local vendors such as restaurants and shops may also charge a fee for credit card transactions.


It's been a while since i've been to the EU but I always used ATM machines. Found this online.

LINK
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 12:03 am to
quote:

Why only one day in Paris?


The bulk of the trip will be in Great Britain with my daughter's 8th Grade Class (it's a yearly thing their school does --- lots of fundraising ). Paris is just a little extra we're doing on our own. Would have liked to have spent more time in Paris, but a chance to see Chelsea @ Aston Villa dictates otherwise.
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
54460 posts
Posted on 3/4/14 at 12:06 am to
You taking the Eurotrain from GB to Paris?

Posted by Dandy Lion
Member since Feb 2010
50245 posts
Posted on 3/4/14 at 12:07 am to
quote:


It's been a while since i've been to the EU
I wouldn´t consider the UK the EU. Only in some aspects.
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 12:09 am to
quote:

You will almost always get the best interbank exchange rate when buying foreign currency with either ATM cards or credit cards, which will usually be 2 to 7 percent better than the rates you'll get when exchanging cash or traveler's checks. Try to use credit cards whenever possible for large purchases such as hotel bills, tickets and car rentals. However, keep in mind that most credit card companies add fees for transactions made in foreign currencies. (Capital One is one of very few U.S. credit card companies that do not.) Local vendors such as restaurants and shops may also charge a fee for credit card transactions.


Thanks. I messed up and may have applied too late for my Capital One ATM card. Assuming it arrives prior to the trip, I definitely plan to use it extensively.
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 12:10 am to
quote:

You taking the Eurotrain from GB to Paris?


Yes sir. Already have the tickets!
Posted by CT
Kate Upton's back
Member since Sep 2004
21054 posts
Posted on 3/4/14 at 12:12 am to
I wouldn't either. Same theory applies to Exchange rates and ATMs.
Posted by FLBooGoTigs1
Nocatee, FL.
Member since Jan 2008
54460 posts
Posted on 3/4/14 at 12:17 am to
You pull up a map of the metro yet. I suggest pulling it up and making a game plan since you got one day in Paris.
Once I learned how to read the metro lines I could go anywhere and get there in good time. just a FYI.
Posted by Dandy Lion
Member since Feb 2010
50245 posts
Posted on 3/4/14 at 12:22 am to
Exactly. There was some serious ATM gouging going on between the Continent and the Island, for a while there.
This post was edited on 3/4/14 at 12:25 am
Posted by asurob1
On the edge of the galaxy
Member since May 2009
26971 posts
Posted on 3/4/14 at 12:25 am to
Paris subways rock.

Break out that map find the subway to the Eiffel tower. See that for sure.

Then, jump on a batobus. It is a river cruise...it will take you past all the bigger landmarks. And you can climb on and off whenever you like.

They dock right next to the Eiffel tower so they are easy to find.

With only 1 day in Paris you probably don't have time to do the full Louve, but go to the area and enjoy the outside parks.

And EAT EAT EAT...the food there is better then sex.

We used our ATM/Credit cards to withdraw money plenty of them on the streets...keep a CC at the hotel though (in the safe!) in case you get pick pocketed. We also bought travel backpacks that all the zippers lock...highly recommend these.

London is a lot of fun too, if you have more time there do the jump on jump off double decker buses...they will take you to all the tourist spots and it's well worth it.
This post was edited on 3/4/14 at 12:27 am
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 12:26 am to
quote:

You pull up a map of the metro yet. I suggest pulling it up and making a game plan since you got one day in Paris.
Once I learned how to read the metro lines I could go anywhere and get there in good time. just a FYI.


I've looked at a few "one day in Paris" links, so I will try to map out a point-to-point itinerary (to the extent possible) using the Metro.
Posted by asurob1
On the edge of the galaxy
Member since May 2009
26971 posts
Posted on 3/4/14 at 12:29 am to
quote:

I've looked at a few "one day in Paris" links, so I will try to map out a point-to-point itinerary (to the extent possible) using the Metro.


You can hit all the great spots in one day if you plan it well, between the subway and the batobus cruises.

About the only thing you might struggle to get to is the Basilique du Sacré Cœur de Montmartre, as montmarte isn't within the tourist areas of the Eiffel tower.
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 3/4/14 at 12:47 am to
Be sure to notify the CC company that you will be using it outside the U.S., it is likely they will cut it off after the first transaction if you don't.
Posted by MUMFORD
Houston
Member since Nov 2008
1743 posts
Posted on 3/4/14 at 1:21 am to
quote:

Be sure to notify the CC company that you will be using it outside the U.S., it is likely they will cut it off after the first transaction if you don't.


Thanks. I plan to take 3 cards and have already notified the respective companies of the trip.
Posted by cave canem
pullarius dominus
Member since Oct 2012
12186 posts
Posted on 3/4/14 at 2:21 am to
My bank has never charged a fee for this regardless of currency issued. I work overseas and just get what I need from a atm. Do notify your bank and charge card company as they will be single use if you don't
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