Changing Dollars into £ Sterling

( re-posted from NY State Forum)

I have done a search on this but nothing up to date

A friend has be working and travelling in the US for 6 months and she will be coming home soon

We are off to Barbados in 12 days and could have used them there but she will not be back in time

She has about 5000$ to bring back to the UK in one form or another some of the options that have come to mind are:

1) She could change it in 拢GB in NY and then carry the cash home !!

...will there be commission or charges and what will the exchange rate be like relative to other options

2) She could leave the money in her US bank account and draw it down via ATMs in the UK .... do US banks charge when using a card abroad

3) Draw a cheque in US$ payable to herself and then pay it into her UK bank account. This will cost her about 拢20 and the exchange rate will be whatever it is on the day

4) Take out all the cash in US$ - carry them home and then change gradually back into 拢GB over here

5) Wire transfer the funds back to her UK bank account ...what do US bank charge for doing this

Any help and advice would be most appreciated - as would any other suggestions

Thanks

Mike

Changing Dollars into %26pound; Sterling

1) She could change it in 拢GB in NY and then carry the cash home !!

...will there be commission or charges and what will the exchange rate be like relative to other options

YES, THERE ARE ALWAYS CHARGES AND COMMISSIONS UNLESS YOU HAVE A GOLD AMEX CARD AND DO IT AT AMEX, ETC.

2) She could leave the money in her US bank account and draw it down via ATMs in the UK .... do US banks charge when using a card abroad

YES. BUT HOW MUCH DEPENDS ON WHICH BANK.

3) Draw a cheque in US$ payable to herself and then pay it into her UK bank account. This will cost her about 拢20 and the exchange rate will be whatever it is on the day. OK - WHAT%26#39;S YOUR QUESTION?

4) Take out all the cash in US$ - carry them home and then change gradually back into 拢GB over here

I THINK THAT WOULD BE INSANE. WHY CARRY THAT MUCH CASH AROUND.

5) Wire transfer the funds back to her UK bank account ...what do US bank charge for doing this

DEPENDS ON THE BANK. BUT THIS IS CERTAINLY THE BEST OPTION. INTERNATIONAL BANKS CHARGE THE LEAST - IE. HSBC HERE TO HSBC IN UK OR CITIBANK HERE TO CITIBANK IN UK. I HAVE INTERNATIONAL CITI ACCOUNTS AND THEY ONLY CHARGE $10 TO TRANSFER VIA THE ATM.

Changing Dollars into %26pound; Sterling

She needs to talk to her US bank about the fees involved in any transfer from her own bank - no one here can answer a question about the terms of service on her account. For example, on one of my checking account, there is no fee for using an ATM abroad. On another checking account I have, thre is a hefty fee. One of my bank accounts charges an arm and a leg of an overseas wire transfer - the other bank charges nothing.

I always travel with cash and frequently will have $5,000 or more with me. I travel with a money belt around my waist ( and under my clothes) and no one is the wiser for it. --and since no one knows who I am REALLY , I am still safe -:)

beauty eye