ojmurphy

Hey everyone,

I've searched the forum on this one, and maybe I'm using the wrong terms for the search but I've found plenty of exchange rate information but not what I'm looking for.

Where can I get the best deal to pick up some British pounds for my trip to see the family?

I know I can get them through the bank, but is that my best bet in terms of rate offered and commission?

Thanks in advance for the tips!

Judy in Calgary

Well the banks are the best places if you want a couple of hundred pounds in cash. They certainly offer a better rate than foreign exchange stores.

Before I travel overseas, I get a couple of hundred pounds / euros / whatever in cash from my bank.

Once I'm in the foreign country I use my credit card to pay major expenses, e.g., vehicle rental, hotels, and larger/more expensive meals.

I use cash for incidental expenses and smaller meals / snacks. When my initial cash supply runs low, I replenish it by using local ATMs.

If you happen to have a Scotiabank debit card, Barclays will not charge you an international fee when you use its ATMs.

Members of this forum use foreign exchange houses such as HiFX when they're transferring tens of thousands of dollars from one country to the other. But I wouldn't have thought that was relevant to your current situation.
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startwin

Exactly what Judy said. I just picked up 200 pounds from my bank because I am heading back to England tomorrow (and wouldn't you know it, the pound was higher today!), and I use my mastercard for most things and debit card at an ATM to get more cash when I am there. I did check around for rates before I ordered my pounds, and Scotia was the best, Money Mart is quick and easy but they may not have as much as you need, and their rate is higher. TD/Canada Trust gouges you in fees (their rate was highest, plus they wanted another $5 on top, and I have been a customer for years.). Bank of Montreal was same as Scotia.

ojmurphy

Thanks for the advice!

Judy - always good tips. I always do exactly what you suggested too!

Startwin - I found exactly the same as you did.

For anyone else who might find use for this thread...

Rates ($ to 1GBP) quoted in Owen Sound, Ontario on 26th March:

* TD Canada Trust = 2.109 (+$5 fee)
* BMO = 2.104 (+$5 Shipping and Handling Charge to small branches)
* Scotia Bank = 2.068 (no fees if held in branch)