Buying US Dollars

hello, heading for nyc soon so need to know about withdrawing cash from atms........are they limits to how much you can withdraw using cc ?
if i need to withdraw alarge amount of dollars say $3 to $5k what are my options other then bringing cash with me?
 
banshee said:
hello, heading for nyc soon so need to know about withdrawing cash from atms........are they limits to how much you can withdraw using cc ?
if i need to withdraw alarge amount of dollars say $3 to $5k what are my options other then bringing cash with me?
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Well your credit limit will be one limit on how much you can get as a cash advance (assuming that youd don't eat into that with other transactions). Check your card terms & conditions for any other limits that may apply. And then individual banks/ATMs over there may have their own transaction/daily limits. Bear in mind that cash advances can be expensive (i.e. some percentage of the amount charged in fees plus, depending on the card, interest from the time of the advance etc.) and may not be the most cost effective way to get cash. Also - some (many?) US ATMs charge a local fixed fee of a few $s separate from your own card provider's charges. One option might be to preload the card with some cash to cover withdrawals (not advances). There are lots of existing threads on this issue, the pros/cons etc.
 
thanks for the reply...... i will be lodging money to my cc to cover the withdrawals. I would like to know what are the norm limits at the atms over there and has anyone tried to withdraw such large sums in one transaction?
 
Credit cards are not the best solution either. Credit cards charge almost 2% on purchases plus a foreign exchange margin of at least 1%
 
Forex margin is usually at least 1.75%. But the card holder seldom pays the CC processing charge though (i.e. in addition to the normal cash price of a good or service)? While preloading a card with cash for withdrawals may have its own specific pros and cons (search for other threads on this as I mentioned) it can be one of the most cost effective ways of accessing cash abroad compared to Cirrus/Maestro/Plus+, travellers cheques, cash etc. What do you have in mind as a more cost effective approach?
 
banshee said:
hello, heading for nyc soon so need to know about withdrawing cash from atms........are they limits to how much you can withdraw using cc ?
if i need to withdraw alarge amount of dollars say $3 to $5k what are my options other then bringing cash with me?
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I think the limits are similar to here (about 500 a day). You should check with your bank and maybe ring one of the big US banks (Bank of America, Citibank etc).
 
Take $300-500 cash, take rest in tracel cheques. Or just use your credit card while there - you'll get a very good conversion rate, but!! around 1.5-2% FX fee...
 
recently back from New York, brought 2k dollars cash with me, left some of it in safe in hotel room when i was out shopping. You can set up safe in your room, depending on hotel, with your own security code. Using a credit card over there is different than here, They dont ask for your pin no. which I was a bit uneasy about. New York is very expensive,especially Times square which can just suck money out of you if you;re not careful. There are other ways to save money; buying tickets online in advance for Empire State building etc, Also keep in mind you pay tax on everything + tips 15-20% at restaurants etc. You can get tickets to Broadway shows half price in Times square.
If your shopping at Macys, the newspapers have 20% discount vouchers,
which is more than 11% presenting your passport in Macys. I was handed free tickets to BBkings in Times square, saw John Waite live, only catch you eat, you drink, you tip. Subway, cheap easy to navigate and really safe.
Enjoy your trip..oh and dont make phone calls home from your hotel room
like I did, cost a fortune, you can buy an international phone card for 5 dollars. I know Ive rambled, but bottom line this thread about saving a few bob, dont forget there is more than one way
 
hopalong said:
if you are in a credit union they may have no charge for changing to dollars
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My wife got ours from the Credit Union in mid December and we got the best deal of the day ........ the usual suspects were 1 to 1.5 $cents less. We always use cash up to $100 and cc after that.
 
For those with experience with xetrade how much sterling could I buy for €60,000 assuming the latest trading rate is 0.7474. I cant get that info from their website.
 
Sorry to jump on this but I have someone looking to pay me euro from the uk, only a small deposit of 150 euro and they dont want to do a bank transfer as it will cost them £25.

They have suggested to send me travellers cheques and claim that this is the way they normally do it but I dont see how that can work.

As far as I can remember, in the old days, you signed travellers cheques and then cashing them in you resigned them.

Any idea what they could be on about?
 
Its rental deposit on an overseas property so not a scam. Have spoken to her so all fine. Just think she may be confused on the travellers cheque issue
 
Isn't Western Union a good choice if the sender and receiver know each other? I know its used by 419 scams, but it does serve a purpose!
 
Just wondering...
Myself and g/friend are goint to NYC in March, the way the U.S. economy is going - am I better off buying dollars (simply cash) now, or would anyone suggest holding off as the rate might get better for changing Euro to dollars.
 
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