Hi guys I just wanted to share what happened to me the other day in London. Coming towards the end of my trip and the money running dry I needed to cash my travellers cheques which I had saved for emergencies.
Anyway I had a little time on my hands so I was checking out a couple of exchange rates along Picadilly. Two official looking exchanges would give me £285 for my 600US travellers cheques. I said I was shopping around and would be back and the exchange woman said 'we can beat other prices' Another little dodgy one would give me £302. So I went back to the official one and she offered me £306! Then I went to the other official one and they said they could match it but not better it so I knew that there wasnt any more room to move...I accepted.
Its really easy as you dont have to even have a finance degree or do any calculations. Just go up to the window and ask 'how much can I get for my ..... ' I was quite stoked as it was like over $50AUD
Later on for fun I just went to an exchange booth and asked again. £279 the response and then just by asking 'can you do any better?' it changed to £289.
The main message is never pay what is on the boards. You can always cut their profit margins down and have more money for yourself