Ask Travel | Buying British pounds in Seattle

Buying British pounds in Seattle

Q: I'm traveling to England in a few months and want to buy some British pounds in the next week or two. Where is a good place to purchase British pounds in Seattle?

— Hithielmann, Seattle

A: Obtaining foreign currency in the United States is always an expensive proposition, although worth it if it gives you peace of mind knowing that you'll have some cash on hand when you arrive at your destination. Best advice: Obtain only a small amount before you go — no more than $100 — then use ATMs to withdraw cash from your checking or savings account while traveling (as well as charging what you can on a credit card that carries no more than a 1 percent foreign-currency transaction fee).

AAA offices will order British pounds (and euros) for you. There's a $12 fee for amounts under $1,000, and keep in mind that the exchange rate is not favorable — around $1.49 to one pound when I checked last week vs. the official bank rate of $1.38.

To order, go in person to an AAA office and plan to pay with a check, cash or debit card. The currency should arrive for pick up in the next day or two.

Travelex, with offices at 400 Pine St. inside Westlake Center and at Seattle-Tacoma International Airport, sells foreign currency without a wait. The fee is $7.95 for amounts under $450. Travelex also charges a high surcharge over the official rate. Last week it was quoting $1.55.

Bank of America sells foreign currency online, and will deliver it to one of its branch offices within one to three business days. Go to www.bankofamerica.com and type in "foreign currency" in the search window. Its rate last week was the best I found — $1.43 — plus a $7.50 delivery fee.

Bank customers can pay via a debit to their checking or savings account or with a Bank of America check card (ATM/debit card). Credit cards can also be used, but it's best to avoid this because it's considered a cash advance, subject to extra fees and charges.

— Carol Pucci, Seattle Times travel writer

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