Saturday, 21 Jul 2018

Forum Topics: Some Money Questions from a New Traveler!

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Hey guys! I’m doing a working holiday in London this summer and I’ve got a few money issues. Bare with me because I’ve hardly ever been out of the states and I need a little help, please.

1) I contacted my bank about using my debit card in the UK and they told me that they do not charge any fee, just the current exchange rate. So, if I use my debit card at a cash point to take out some money, will that cash point charge me a fee? What’s the typical fee? Are there certain brands I guess you would call them that charge less (and what are their names if so)? I know here in the states some ATMs charge you more than others.

2) I plan on being in London for three months, but I’m also going to be getting a job and renting a room as soon as possible. The first week or so that I’m there I’ll be staying with a friend’s parents. In this scenario, how much cash should I bring? And where is the best place to exchange? My bank allows you to order British pounds but their rate to get cash is currently $2.10:1 pound. If I can get a better deal that’d be nice. I’ve seen some online exchange companies, from like Wells Fargo and such; anyone have any experience with this?

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