Lordship lane post office - foreign currency

[Strawbs]

Hi all

does anyone know if the post office on the lane does foreign currency? Anyone got a number for the actual post office? searching for a number on google to no avail yet (thought i had hit the jackpot on lordshiplane.something but it has the fax number listed as the tel number).. thoughts whilst I was trawlling google someone might know and then be kind enough to let me know..

x

[Carrie]

Yes it does foreign currency - the first window is dedicated to it and supposedly you can just walk up to it and ignore the queue (although I always feel guilty about doing that!) The one on Rye Lane also does currency.

[Strawbs]

Wicked Carrie thanks! x

[Mrs Y]

Post office in Forest Hill road also does foreign currency.

[PeckhamRose]

But the rates are crap in post offices.

Sorry, but it is true!

[bignumber5]

Where's best instead?

[PeckhamRose]

In my opinion, American Express.

But not one in Central London as their rates are less because their (business) rates are higher (get what I mean?)

There's one in South Ken I tend to go to.

All the companies will say they'll match everyone else, but somehow (being someone who goes to USA quite a bit) I have found AmEx always the best.

Have a good trip!

[lozzyloz]

You can also order Currency from the PO online. Free delivery for ?500+. Don't pay by CC.

[PeckhamRose]

Oh yes, another point. I bought a heap of USDollars and paid with my Abbey debit card once (about 4 years ago) and when my statement came, Abbey had taken ?4.50 off me for it. I told the PO about this and to be fair to them (in Clapham, sorry but that is where I was working at the time!) the PO reimbursed me and now when they remember they warn people in advance. My Nationwide Debit card the next time though resulted in Nationwide not charging me.

But then I discovered AmEx had better rates!

[Jimbob]

m&s tend to have pretty good rates.

[Carrie]

Travelex have good rates and you can book it in advance online and just pick it up at the airport

[David Mc]

I use http://www.cityforex.co.uk/ who are excellent. Amongst the things that make them excellent are that they deliver the next day to Canary Wharf, have very competitive rates, don't charge commission, give you bills in sensible combinations of denominations and give me a discount just because I work for the company I work for!

[Mick Mac]

What do people do with foreign currency - Is this for holiday use? I just go abroad and use the hole in the wall with my debit card. Couple of hundred poounds at a time, as needed - does not seem to be a problem - have not really ever checked the rates but I read a few years ago the rates on debit cards were fine - I guess you are taking out local currency so no costs to the banks in holding foreign currency or employing someone to give it to you.

Perhaps some people don't like to arrive abroad without local currency in their pockets on arrival, but its always been ok for me - most airports have cashpoints.

[David Mc]

An ATM outside the UK will often charge you (or your bank, or sometimes even both will) for the privilege/convenience. Even if they don't, then the rate will be less favourable (unless currency rates have changed significantly in your favour while you were on the plane). Maybe you're lucky enough not to be bothered, but look at those transactions in detail once you're home....

And sometimes you just want to get something before you can find an ATM.

[Mick Mac]

fair enough david. There probably is a small charge but if its only a few quid it is immaterial in the overall cost of a family holiday and dont mind paying a small charge for the ease of getting the money out as i need it.

[alachlan]

Horses for courses - its convenient using the hole in the wall but I don't like doing it on pricipal / bending over since my bank

1) gives a poor exchange rate

2) charges a 2.99% fee for taking out foreign currency on top

3) makes a further charge of ?2 or 1.5% overseas transaction fee, whichever is higher (capped at ?4.50)

Just for getting at my cash, and then the ATM owner probably has a bite too

If CityForex is the one at London Bridge Walk (next to Richer Sounds) then I agree that it probably has the best rates in London for major currencies. If you are taking out a decent amount you can usually get them down a few points as well.

[Mick Mac]

Ok - I'll review it next time to see how much it costs me - but I don't take out significant amounts - most of the money I spend on a holiday is prepaid hotels etc. thanks.

[PeckhamRose]

Mick Mac "What do people do with foreign currency". Here's what I did with mine.

I went to USA last year for 2 months. I bought several thousand dollars, cash and travellers cheques.

Carrying such a large amount of cash simply does not bother me, and it was in about 6 different places about my person and about my bag!

I did not use my debit card over there and do not have a credit card.

I bought the dollars at a good rate.

Came home not having spent them all so stored them for next time.

But

The rate fell, so I sold them back and ... made a massive profit.

Hoorah!

[Mick Mac]

Very good Peckham Rose.

I guess I have never been abroad for more than 10 days or so hence not a big issue for me - I can see it would be different if you were going somewhere longer term.

[Cassius]

If you have a Nationwide Debit card then you don't get charged for using an ATM abroad and I do examine the statements very carefully and was getting the forex rate NOT the tourist rate.

There are loads of articles in the quality press about the best way to get your foreign currency and using a Nationwide Debit card came out on top - although obviously you have to have a Nationwide account first and they are not top in many other aspects (we have an account purely for holidays).

[Mick Mac]

Well said Cassius - I knew I was right all along.

[LordshipLovely]

I use a forex comparison site. It basically comes up with the best rates. I think you can find it on the money saving expert website. Travelex consistenly comes up with the best rates, and you can reserve the money and pick it up in the airport if you want.

[Strawbs]

FYI for anyone needing rand LL post office didnt stock neither did PR post office so she had to order it in but they stock the more common currencies in small amounts..

[SeanMacGabhann]

Strawbs - I had the same experience in the city (Blackfriars) when I tried to buy some rand recently. Coincidentally

So, not just a LL thing

[giggirl]

I bank with First Direct. If you sign up with them for their annual holiday insurance package (it's more than holiday insurance but I can't remember what the package is offhand) then you don't get charged for using ATMs when abroad.

I don't feel happy arriving in a country without cash. If I haven't got cab fare then I'm not a happy camper. The last time I went somewhere without cash was a trip I made to Hong Kong last April - the ATMs at the airport rejected my card for some reason. I had been lax about getting currency because I was meeting a friend at the airport. But still, I wasn't happy about not having some folding stuff of my own. It's not a good idea to rely on ATMs.