chasmw

Hi,
I imagine this question has probably been asked hundreds of times and people are sick of it, but after a quick search I didn't find anything. My question is, what is the best / recommended way of exchanging GB Pounds to AU Dollars? We've always found that M&S do the best rates.

We're going on a holiday to Oz soon and would like to take a mix of currency and travellers cheques. The question on which traveller cheques to take is always a point we're not sure on with previous holidays. Is it better to take Travellers Cheques in Pounds or to take the Cheques in the currency of the country you're going to? Can you get AU$ TC's?

Many thanks.

jimandkate

Hi we took aus dollar travellers cheques just make sure that you take driving licence or passport some ask and some dont as it is currency anyway
hope you have a good holiday (wish it was me) kate

scotlandtooz

We took cash, and then made withdrawls from our banks whilst we were there. We also got a post office credit card before we went, which didn't charge for using overseas, so we used that for some purchases, and just paid it off when we came back.. Travellers cheques often seem more hassle than they're worth IMO.

Nicholson_family

I second that - don't use the sterling traveller cheques because Aus banks charge a fee to cash. If you have no other option take A$ ones rather than sterling.

The ATM option is def the best one. I recommend Nationwide, but others also do penalty free withdrawals from current account at good daily rates. If you withdraw with credit card you get fees, but not if you're using your current account card.

ianandhelena

+1 for Nationwide !

Open a Flex account, get a Visa debit card and there's no surcharge for foreign currency withdrawals.

Stu Ward

I just used my current account card in the ATM's

I'm with Lloyds TSB and they charged £2 per transaction, little to pay in my opinion


Stu

chasmw

I'm with Lloyds also. Was it a decent exchange rate as well?

Thanks to everyone else for the feedback as well.

Australia_bound?

Take a minimal amount and use a nationwide cashcard! Get rate at whatever is it with no commission as far as I'm aware, works in EU and they don't (I think) charge for worldwide

chocolatedog

Yeah, I would agree with that, Nationwide are an excellent choice. I think the Post Office credit card do a similar service, no fees for foreign purchases but I don't know about ATM use. www.moneysavingexpert.com is always a good source of UK financal info. can't remember if it is .com or .co.uk It is Martin Lewis's site v.good.

Stu Ward

I was getting the daily rate

So well worth it in my opinion

Stu

stariston

::Well it seems its on the move somthings stairing nearly 2.18

come on gee up there ####

benlast

For what it's worth, and assuming we're talking about cash, I took a walk around a bunch of travel agents and other places to check the best rate. Before I did, I called up my bank (First Direct) and asked them the rate they'd give me if I ordered the cash from them for next-day delivery. No travel agent came anywhere close to beating the bank: the difference was around $50 on a total of approx. $800. Of course, if you know you're going to be changing a lot of cash back after the trip, then you might need to look at the "zero commission" deals.

Cheers
b