Cash in on the money secrets
Brian Jones asks:
When travelling from Britain to America is it best to convert pounds todollars before leaving, or upon arrival in the USA?
Frank Barrett replies:
0In foreign currency transactions, there's only one rule: you lose and the bank wins.
Everything else is a matter of degree! The main consideration is convenience and personal security. When I go to the States, I arrive with $100 in cash and then resupply from cash machines using my credit card (if you don't know what your card's PIN number is, find out now!).
Since I pay for meals, supermarket bills and other shop purchases with my credit card anyway, it's surprising how little hard cash you actually need.
What you don't want is to be travelling around carrying a large amount of cash, either in pounds or dollars, not that you are likely to be mugged but that you may easily lose it.
The safe alternative is travellers cheques which you will have to take in dollar values anyway.
