Just Jenney

For our anniversary, Mark's nan sent us a card with £100 in bank notes inside. In the past when she's sent us monetary gifts, she's always sent them via wire transfer, but for some reason this time she decided to send cash. My guess is that she didn't want to pay the wire transfer fee (understandably), but by sending us cash we're really in a weird situation.

Our bank accounts are all with USAA, which is headquartered in Texas. With the exception of one bank branch in San Antonio, USAA does not have any bank branches anywhere else. We do 99% of our banking electronically anyway, including the use of debit cards (we VERY rarely use cash), so it's never been much of an issue. The times that we might come into some extra money (birthday gift, etc) it's in the form of a check, which we just mail to USAA to be deposited.

So here we have £100 in cash, which is about $200 at the current exchange rate. We don't want to send cash through the mail, even if it's not in US dollars. I know that USAA will accept CHECKS drawn on foreign banks, but that's not what we received. Back in 2003, we tried finding somewhere locally to exchange Mark's leftover British money and came up blank. (We don't live near an airport, and even if we did the exchange there would be a rip-off.)

So what do we do?? Do we bite the bullet and send USAA the cash to be deposited? Should we bother opening up a local bank account, just so we can deposit the funds and transfer them to USAA?? We've never had to do this before so I'm sure there's an alternative that we're just not aware of, but hopefully someone here is.

~ Jenney

AmerLisa

Don't have a really good answer for you. But, I would definitely NOT send cash. If I had to ever deposit cash I'd get a cheap money order (not something you can do, I know) and then deposit that.

Perhaps you can call your bank on Monday and ask them for suggestions?

georgiagal

Keep it for those bloody expensive trips back to the UK! Seriously, if you can do without it, it's better to have some cash when you go home. As you probably know, the majority of the USA is still in denial that there is a world outside of the US and, as a consequence, make a big song and dance about having to have anything to do with any currency other than the US$!

Tarkak9

Can you buy any sort of travellers checks with it? Then go and cash 'em. With my bank, I deposit sterling when fam come over; I'm the local xcher for them and my bank doesn't charge me.. they just convert it internally and post it a day or so later. I would agree with georgiagal, not a bad idea to keep it for when you go over for trips etc.

Deedee13

i agree with the earlier suggestion.. save it for ur next trip back to uk. if its in the near future.

Patrick Hasler

Send it to me and I will convert it to a new TV for my truck and a years subcription to Sirrus satelite radio

Being serious now ............ Just go to your bank and pay it in ! They will take a few days to convert it to US dollars but they should accept it.

Just Jenney

Well, aside from the fact that we're already home, we would much rather have those funds to help pay off debt and/or put in our savings account and earn some interest on it. The sooner we get rid of our debt, the sooner we can afford to make a visit to the UK. We haven't seen Mark's family in almost four years.

I considered travelers cheques, but if I'm not mistaken, sending them in already signed would be similar to sending cash, wouldn't it?

I've already emailed my bank and hope to hear from them in the next couple of days. I'm hoping they have an idea of what we can do.

~ Jenney

Just Jenney

I knew it was just a matter of time before someone made this kind of suggestion!

Well, I think making a trip from Virginia to Texas to go to their one bank branch would cost more than the amount I'm trying to deposit, so that's a no-go.

~ Jenney

Maz

Jenney,

I've often sent cash through the post, and as long as you send it inside a card, I've never had a problem. With a letter it's more obvious (for someone who's watching out for that kind of thing) that cash is in the envelope.

Seriously... if you want to get $ for it, I'll be happy to take the dosh off your hands and send you $ via PayPal. I'm going to England in just under 3 weeks' time so can use it easily enough.

Ray

Always a money exchange if you have an airport not too far away

Leslie

Oi!! That's what I was going to say. Are you inside my head today?

Ray

I would be worn out hours ago if I was ... ..

Ray

Go with Maz .. I'll vouch for her ... she a very nice old girl ...

penguinsix

Second (and third) the next trip back suggestion.

Having £100 in cash with you when you arrive can mean the difference between making a tube or not, or a bus or not, or buying a soda or coffee or any of those things when you arrive.

My own reason is because when I come in on the Heathrow Express to Paddington, if I have to stop at the ATM it can mean and extra 10 minutes waiting for a cab instead of heading straight to the cab rank (through that secret passage past the women's loo).

There is also the time I arrived at LHR and there were no working ATMs and I was really hungry. That sucked.

Ray

I always have a Mercedes pick me up ...Or a Dodge Ram truck ..