Currency Question

[cherylakers]

We will be in London for 4 days prior to a cruise.  We plan on getting British pounds on arrival at the airport.

 

Our first stop though in on the Euro.  Can we get Euros at ATM's in London by chance?  I know we can probably

get to a bank and exchange, but that isn't always the best rate.  Our first stop is Guernsey and it is a Sunday so no 

bank open.  We need cash to pay our tour guide.  If necessary we will get Euro's prior to leaving US, but it would

be easier with an ATM over there if possible.

 

Thanks

Cheryl

[Globaliser]

43 minutes ago, cherylakers said:

Can we get Euros at ATM's in London by chance?  I know we can probably get to a bank and exchange, but that isn't always the best rate.

 

You can, but I doubt that the rate will be any better if you draw foreign currency A on a card denominated in foreign currency B from an ATM situated in country C.

 

Would your tour guide be happy to guide you to a local ATM?

[LHT28]

Do they use Euro in Guernsey?

I would think they would take GBP   as well as their own pounds

When we stayed in Jersey  they had their own pounds but some places took  GBP

[wheezedr]

Not sure how Guernsey is a problem as the £ is the official currency.  There is a Guernsey £ but it is par to the English £.  If you purchase anything there make sure you get English £ change not Guernsey £ notes.  While they are technically of the same value you will find it difficult if not impossible to use the Guernsey notes elsewhere.

[cherylakers]

1 hour ago, wheezedr said:

Not sure how Guernsey is a problem as the £ is the official currency.  There is a Guernsey £ but it is par to the English £.  If you purchase anything there make sure you get English £ change not Guernsey £ notes.  While they are technically of the same value you will find it difficult if not impossible to use the Guernsey notes elsewhere.

Oops I made a mistake it is Cork that is our first Euro currency stop.  If I can't get Euro's in London at an ATM, then we will see if our guide will stop for us to get some.

 

At least I know we can get some in London.

 

Thanks everyone

 

Cheryl

[gnome12]

51 minutes ago, cherylakers said:

Oops I made a mistake it is Cork that is our first Euro currency stop.  If I can't get Euro's in London at an ATM, then we will see if our guide will stop for us to get some.

 

At least I know we can get some in London.

 

Thanks everyone

 

Cheryl

It would make more sense to get Euros in the US or in Cork than in London, because converting in London means a double conversion - from Euros to Pounds to Dollars - each of which comes with a cost. Either wait until Cork or get Euros before you leave.

[WatchHill]

Try to avoid the ATM's at LHR - especially Travelex systems as they give marginal rates. Use a bank ATM when you arrive in London. Don't count of any UK bank being wiling to exchange $ for you unless you are an account holder at their bank. Use your credit card as much as possible, not a great need for cash. Tour guides will find an ATM for you, they seem to know where everyone is located, and many will share with you who is offering the best exchange rates. Amazing, but supermarket ATM"s have been very good and secure.  There are ample bank ATM's at Paddington Rail and at Paddington Tube there is an ATM that gives Euro. Guernsey currency is GBP, not Euro.

 

Learn the coins and paper currency. Some vendors have been known to slip unsuspecting tourists change that has been "discontinued" In the US we keep and use old coins, but in Europe, paper currency and many coins are dated and expire. So much easier to use CC's is unfamiliar.

Darcy

[John Bull]

Heed the warnings by Globaliser and the gnome about double-exchange costs. Since you're using USD, don't buy Euros in the UK, don't buy sterling in Euroland.

 

Assuming you have a US bank account, if you want a little local money in your pocket when you disembark use it to change a few USD into sterling and / or Euros before you leave. If your bank has a high minimum, use ship's exchange. Both offer poor rates, but some folk are more comfortable with a just few dollars-worth in their pockets on arrival. 

For more-significant sums use UK ATMs for your sterling and ATMs in any Euroland country for your Euros.

 

And don't get involved in Guernsey money - Guernsey used the pound but prints its own notes and coins. They have the same value as UK money and you can freely use GB money on Guernsey, but Guernsey's own is valid only on Guernsey. So use GB money and avoid ATMs and exchange bureaux on Guernsey.   

 

For all but a few minor purchases (like a coffee, or a short taxi ride) or purchases from some market stalls etc, credit cards are king.

Like in the US of A, you are unlikely to need very much folding stuff anywhere in Europe.

 

Do you have a credit card which doesn't charge a currency exchange fee?  If you don't your countrymen can suggest a few.

Different cards come with different freebies - airmiles, cash-back, hotel points etc, but one which doesn't charge foreign transaction fees is the one to use for foreign travel - we have one that we only use for foreign travel / foreign transactions.

It's a very good investment, and the exchange rates are at commercial rates - waay better than ATMs or exchange bureaux.

 

A few years ago various outlets started offering to charge your card in its own currency "for your convenience" .

DECLINE all such offers -  many set their own excessive exchange rates whereas your card issuer will ALWAYS give you a better exchange rate. And there's so much clarity in seeing €46.50 on a cafe check and that same €46.50 on the card receipt.

Nowadays that little scam has developed further - the purchase cost is shown on the card reader in both the currency of your card and local currency, and the default is always the currency of your card - so check which currency is set, and change it to the local currency.

BTW, same applies to Americans' on-board account on Italian ships, Brits' on-board accounts on US ships etc. 

 

JB 

[Guernseycruiser]

There is no need to "avoid" ATM's in Guernsey, you just need to be careful.  Some ATM's provide Guernsey currency and some provide GBP Sterling currency.  Check if there is a notification around the ATM itself.  For example, the nearest ATM from the tender pier is at Barclays Bank.  The ATM on the roadside provides Guernsey notes, the ATM just inside the entrance area (which is open 24-7, you do not need to be a Barclays customer) provides GBP Sterling.  If you need GBP sterling and are unsure, ask either your guide or one of the "Meet and Greet" people on the pier.

 

As has been mentioned previously, try not to leave Guernsey with too much "Guernsey" currency as this cannot be spent in regular shops outside the island, and you would have to go to a UK bank to exchange for GBP Sterling.  When purchasing goods or services in Guernsey, always ask for your change "in English" (i.e GBP Sterling).

 

[SteveH2508]

In London there are some ATMs which dispense both GBP and Euros. They are mostly at larger Tube stations (e.g. South Kensington has one). I do not know how the conversions work to USD so you might get a double-whammy - but - ATMs tend to use a decent conversion rate. They might get you on any foreign transaction fees levied by your US card provider however.

 

Beware - there used to be some ATMs (usually standalone ones inside shops) which charge a fee themselves.

 

Banks are not the only option to change money - Post Offices and some major chain stores (e.g. Marks and Spencer; John Lewis have ForEx counters at their larger stores).

[Globaliser]

8 hours ago, SteveH2508 said:

In London there are some ATMs which dispense both GBP and Euros. They are mostly at larger Tube stations (e.g. South Kensington has one). I do not know how the conversions work to USD so you might get a double-whammy - but - ATMs tend to use a decent conversion rate. They might get you on any foreign transaction fees levied by your US card provider however.

 

Personally, I wouldn't be so trusting of these "Raphaels Bank" machines at Tube stations. Although I haven't tried them myself for EUR withdrawals, I would be surprised if they offer to send the charge to your card company in EUR and for exactly the same number of EUR as you withdraw. I suspect that what they do is to display a GBP rate and amount, but that GBP rate may include a spread on which Raphaels Bank (aka International Currency Exchage aka ICE aka Lenlyn Holdings) makes its profit. If you insert a USD card into the machine, it might even further offer you DCC to USD, on which there will be another FX fee to be charged.

 

IME, ATMs do not normally use any conversion rate at all. If I go to Australia and withdraw AUD 300, the ATM will simply send an AUD 300 charge to my bank - no conversion by the ATM involved at all. The conversion is done during the Visa interbank process, at the (good) interbank rate, and then I pay my bank's FX fee.

[SteveH2508]

14 minutes ago, Globaliser said:

 

Personally, I wouldn't be so trusting of these "Raphaels Bank" machines at Tube stations. Although I haven't tried them myself for EUR withdrawals, I would be surprised if they offer to send the charge to your card company in EUR and for exactly the same number of EUR as you withdraw. I suspect that what they do is to display a GBP rate and amount, but that GBP rate may include a spread on which Raphaels Bank (aka International Currency Exchage aka ICE aka Lenlyn Holdings) makes its profit. If you insert a USD card into the machine, it might even further offer you DCC to USD, on which there will be another FX fee to be charged.

 

IME, ATMs do not normally use any conversion rate at all. If I go to Australia and withdraw AUD 300, the ATM will simply send an AUD 300 charge to my bank - no conversion by the ATM involved at all. The conversion is done during the Visa interbank process, at the (good) interbank rate, and then I pay my bank's FX fee.

 

I have never used the Raphaels ATMs for Euros - I was just highlighting it as another option for OP.

 

We use John Lewis ForEx using their CC so we get points (not treated as a cash advance) (we usually wait for the double points offers). Their rates are pretty good and the JL points are helpful.

[Host Bonjour]

On 3/2/2019 at 4:21 AM, Guernseycruiser said:

There is no need to "avoid" ATM's in Guernsey, you just need to be careful.  Some ATM's provide Guernsey currency and some provide GBP Sterling currency.  Check if there is a notification around the ATM itself.  For example, the nearest ATM from the tender pier is at Barclays Bank.  The ATM on the roadside provides Guernsey notes, the ATM just inside the entrance area (which is open 24-7, you do not need to be a Barclays customer) provides GBP Sterling.  If you need GBP sterling and are unsure, ask either your guide or one of the "Meet and Greet" people on the pier.

 

As has been mentioned previously, try not to leave Guernsey with too much "Guernsey" currency as this cannot be spent in regular shops outside the island, and you would have to go to a UK bank to exchange for GBP Sterling.  When purchasing goods or services in Guernsey, always ask for your change "in English" (i.e GBP Sterling).

 

 

I feel like such a git for asking and I suppose I could google for a wiki answer but I'm wondering why? I love that Guernsey has it's own currency (kind of like Scotland except yes, I know, it's so not Scotland) but if it's of course equal in value to the GBP then why ever wouldn't it be accepted in England or elsewhere in the U.K.? Too many different currencies to account for? I can appreciate this having had to account for large amounts of cash in a big bank once upon a time - send out the old money, unpack the new money every week. Only....and I suppose it doesn't compare, we had quarters (25 cents) with all 50 states on one side fora good part of the aughts and they were good in every state.....ok say bad things about me, I know 😉

 

I was surprised, then amused by the reaction when I spent my first English sterling note in Edinburgh - perhaps because I was obviously a visitor - the part chortle, part the struggle is real - "here, this is better money" when handing me some change for whatever it was I was purchasing. Still.....he accepted the money. I'd have been less amused if I learned the money wasn't even accepted although it's likely, as with our OP is planning to prepare for their trip,  that I'd have arrived unprepared. But then again, I do *totally* get the whole wanting a separate parliament, money and whatever else for a certain feeling of uniqueness and singularity. 

 

I suppose like everything wonderful with the U.K. there's a long, wonderful history that I haven't yet learned about that is always fascinating. 

 

On my first ever trip to Europe I departed with about US$50 in Swiss francs, French francs and German marks...more than I needed to manage and I ended up with a few lira too because I took a boat into Italy from Switzerland. The euro has been incredible in this regard! But then as mentioned, so have credit or debit cards with no fees. I carry almost no cash anymore even at home. A few years working at the bank during uni and it put me off money forever, so to speak :eek:

 

For anyone that indulges me on the currency curiousity beyond a wiki link, I'm grateful. It's always the context from a citizen and cc member that I'm most keen on and that I value most. Wiki won't ever have that 😄

 

(That's for when I lose track of which King, when....the Queens I know, Elizabeth I, Victoria and Elizabeth II because that's all there were/is and I have to know!!)

 

 

 

 

 

Edited March 4, 2019 by Host Bonjour

[TheOldBear]

1 hour ago, Host Bonjour said:

 

I feel like such a git for asking and I suppose I could google for a wiki answer but I'm wondering why? I love that Guernsey has it's own currency (kind of like Scotland except yes, I know, it's so not Scotland) but if it's of course equal in value to the GBP then why ever wouldn't it be accepted in England or elsewhere in the U.K.? Too many different currencies to account for? I can appreciate this having had to account for large amounts of cash in a big bank once upon a time - send out the old money, unpack the new money every week. Only....and I suppose it doesn't compare, we had quarters (25 cents) with all 50 states on one side fora good part of the aughts and they were good in every state.....ok say bad things about me, I know 😉

 

I was surprised, then amused by the reaction when I spent my first English sterling note in Edinburgh - perhaps because I was obviously a visitor - the part chortle, part the struggle is real - "here, this is better money" when handing me some change for whatever it was I was purchasing. Still.....he accepted the money. I'd have been less amused if I learned the money wasn't even accepted although it's likely, as with our OP is planning to prepare for their trip,  that I'd have arrived unprepared. But then again, I do *totally* get the whole wanting a separate parliament, money and whatever else for a certain feeling of uniqueness and singularity. 

 

I suppose like everything wonderful with the U.K. there's a long, wonderful history that I haven't yet learned about that is always fascinating. 

 

On my first ever trip to Europe I departed with about US$50 in Swiss francs, French francs and German marks...more than I needed to manage and I ended up with a few lira too because I took a boat into Italy from Switzerland. The euro has been incredible in this regard! But then as mentioned, so have credit or debit cards with no fees. I carry almost no cash anymore even at home. A few years working at the bank during uni and it put me off money forever, so to speak :eek:

 

For anyone that indulges me on the currency curiousity beyond a wiki link, I'm grateful. It's always the context from a citizen and cc member that I'm most keen on and that I value most. Wiki won't ever have that 😄

 

(That's for when I lose track of which King, when....the Queens I know, Elizabeth I, Victoria and Elizabeth II because that's all there were/is and I have to know!!)

 

 

 

 

 

 

[Need someone authoritative to weigh in here - paging John Bull 🙂 ]

 

I think the currency differences are due to the legal status of the Channel Islands.

They are not actually part of the United Kingdom [England, Wales, Scotland, Northern Ireland] but instead are remnants of the Duchy or Normandy

 

So Queen Elizabeth is their monarch, but she is wearing her 'Duke of Normandy' hat while in that role.

[SteveH2508]

1 hour ago, Host Bonjour said:

 

<snip>

I suppose like everything wonderful with the U.K. there's a long, wonderful history that I haven't yet learned about that is always fascinating. 

 

<snip>

 

(That's for when I lose track of which King, when....the Queens I know, Elizabeth I, Victoria and Elizabeth II because that's all there were/is and I have to know!!)

 

Queen Mary; Queen Anne; Lady Jane Grey (albeit only for 9 days IIRC) and Mary of William and Mary might have a word or two to say on that score (I haven't googled this - I'm relying on memory of primary school history lessons from a LONG time ago)!

 

If you are a trivia buff then learning K & Q of England with their dates and houses is a smart move.

[SteveH2508]

56 minutes ago, TheOldBear said:

 

[Need someone authoritative to weigh in here - paging John Bull 🙂 ]

 

I think the currency differences are due to the legal status of the Channel Islands.

They are not actually part of the United Kingdom [England, Wales, Scotland, Northern Ireland] but instead are remnants of the Duchy or Normandy

 

So Queen Elizabeth is their monarch, but she is wearing her 'Duke of Normandy' hat while in that role.

 

I think you are essentially correct. They might be classified as a Protectorate (like Gibraltar; Falkland islands etc. but I could be totally wrong on that.

 

We had dominions, protectorates, colonies and maybe some other designations - it's all politics and we Brits have had a bellyful of politics and politicians at the moment!

[Globaliser]

11 hours ago, TheOldBear said:

I think the currency differences are due to the legal status of the Channel Islands.

They are not actually part of the United Kingdom [England, Wales, Scotland, Northern Ireland] but instead are remnants of the Duchy or Normandy

 

So Queen Elizabeth is their monarch, but she is wearing her 'Duke of Normandy' hat while in that role.

 

10 hours ago, SteveH2508 said:

I think you are essentially correct. They might be classified as a Protectorate (like Gibraltar; Falkland islands etc. but I could be totally wrong on that.

 

I think that the Channel Islands are distinctly different from the Falklands and Gibraltar. The latter are British Overseas Territories, which are under the sovereignty of the United Kingdom. However, the Channel Islands are not part of the United Kingdom, and so are more like separate countries, even though they do not count as independent sovereign states by conventional criteria.

 

In any event, separate currencies are a feature not only of the Channel Islands but also of British Overseas Territories, so the differences are not specifically due the Channel Islands not being part of the United Kingdom.

 

I don't have any experience of trying to spend a Channel Islands note in a shop in the UK, although a bank once took one without any question. I do have plenty of experience of spending English notes in Scottish shops and Scottish notes in English shops: I can't remember ever having a problem, nor even any jokes.

[Guernseycruiser]

I am pretty sure no shops or restaurants in the UK will take Guernsey notes.  Even though the coins look the same, sometimes a very eagle eyed assistant has spotted a Guernsey coin from me and rejected it.  Banks should accept the notes and coins without question and swap them over, however if you are not a customer of that bank, they may not be so helpful.

 

Yes, it is correct to say Queen Elizabeth is our monarch but she is wearing her Duke of Normandy hat on whilst in the role.

 

Yes, it is correct to say we are not part of the UK, we are part of the British Isles, and are a Crown Dependency.  We have our own Government (we are not allowed to vote for the UK Government), we set our own laws, and have our own currency.

 

As for the rest, you will all have to come over to Guernsey to find out more!!! 😉  Only joking, happy to try to answer more questions.

 

[John Bull]

13 hours ago, TheOldBear said:

 

[Need someone authoritative to weigh in here - paging John Bull 🙂 ]

 

I think the currency differences are due to the legal status of the Channel Islands.

They are not actually part of the United Kingdom [England, Wales, Scotland, Northern Ireland] but instead are remnants of the Duchy or Normandy

 

So Queen Elizabeth is their monarch, but she is wearing her 'Duke of Normandy' hat while in that role.

 

It's a mite too complicated for JB, but you're surprisingly close to the answer, my furry old friend. 

 

Thick & dusty quill-written books say that Jersey is an English(>British) Crown Dependency,

 

However, Jersey was part of the Duchy of Normandy in 1066 when the the Duke of Normandy, Guillaume le Batard (aka William the Conqueror) won that little altercation with King Harold at Hastings and installed himself as King of England.

So Jerseymen claim that England was Jersey's first colony.  

 

JB 

Edited March 5, 2019 by John Bull

[SteveH2508]

58 minutes ago, Guernseycruiser said:

I am pretty sure no shops or restaurants in the UK will take Guernsey notes.  Even though the coins look the same, sometimes a very eagle eyed assistant has spotted a Guernsey coin from me and rejected it.  Banks should accept the notes and coins without question and swap them over, however if you are not a customer of that bank, they may not be so helpful.

 

Yes, it is correct to say Queen Elizabeth is our monarch but she is wearing her Duke of Normandy hat on whilst in the role.

 

Yes, it is correct to say we are not part of the UK, we are part of the British Isles, and are a Crown Dependency.  We have our own Government (we are not allowed to vote for the UK Government), we set our own laws, and have our own currency.

 

As for the rest, you will all have to come over to Guernsey to find out more!!! 😉  Only joking, happy to try to answer more questions.

 

 

So no mention of Bailiwick to avoid confusion? (I can almost hear our US friends' heads spinning from across the Atlantic)

https://en.wikipedia.org/wiki/Jersey

 

 

[kerryincork]

On 2/28/2019 at 8:00 PM, cherylakers said:

Oops I made a mistake it is Cork that is our first Euro currency stop.  If I can't get Euro's in London at an ATM, then we will see if our guide will stop for us to get some.

 

At least I know we can get some in London.

 

Thanks everyone

 

Cheryl

There are several ATMs walking distance (about 5 min) from where the ship docks, your tour guide will not object to you getting any money.

 

Also I would not use the Atm in the airport as the exchange rates are shocking, nearly all the machines you will see belong to exchange rate companies and they charge high fees. If I was you I would just use your card to get you in to the city and then draw it out from a Banks Atm. Or if you really want some cash before you land just change a $50 before you leave home then withdraw the rest when you get here.

[Bob++]

Shops in England really don't want the hassle of exchanging Scottish, Northern Ireland, Jersey, Guernsey, Gibraltarian, Manx, St Helena or Falklands Pounds into English ones. No doubt they would have to pay their bank for the 'privilege' as well. Of course, the average English shop assistant would not recognise the noted either.

 

In the more Northern counties of England, they will see enough Scottish currency to make it worth their while (although I think they try hard to give it back to the next customer in change). Elsewhere, it's simply not worth the trouble.

 

For these places, keeping their own distinctive currency is a matter more of pride than fiscal common sense. I have no doubt that if it was allowed, all fifty US states would have their own individual banknotes. I was reading recently an account of the difficulty an American had, trying to buy a burger with a two-dollar bill. Perfectly legal (though rare) but someone actually called the cops on him for trying to pass a forgery - imagine having fifty different bills to deal with.

Edited March 5, 2019 by Bob++

[Globaliser]

25 minutes ago, Bob++ said:

Shops in England really don't want the hassle of exchanging Scottish, Northern Ireland, Jersey, Guernsey, Gibraltarian, Manx, St Helena or Falklands Pounds into English ones. No doubt they would have to pay their bank for the 'privilege' as well.

 

I don't know about the others, but as I have said above, I haven't myself had problems using Scottish notes in England (well, London anyway), and I have doubts about whether a bank would (or could) charge a shop anything extra for paying in a Scottish note. While the Guernsey pound is a different currency (GGP) from the UK's pound sterling (GBP), Scottish and Northern Irish notes are for GBP even though they are issued by banks other than the Bank of England.

[gnome12]

1 hour ago, Globaliser said:

Scottish and Northern Irish notes are for GBP even though they are issued by banks other than the Bank of England.

That seems kind of analogous to the Euro. Euro coins are issued by individual countries (and show it on the coin) but they are fully acceptable in any other Euro country. You would think that the GBP should be the same.

[Guernseycruiser]

6 hours ago, John Bull said:

 

It's a mite too complicated for JB, but you're surprisingly close to the answer, my furry old friend. 

 

Thick & dusty quill-written books say that Jersey is an English(>British) Crown Dependency,

 

However, Jersey was part of the Duchy of Normandy in 1066 when the the Duke of Normandy, Guillaume le Batard (aka William the Conqueror) won that little altercation with King Harold at Hastings and installed himself as King of England.

So Jerseymen claim that England was Jersey's first colony.  

 

JB 

 

Please don't confuse Jersey with Guernsey as I may become offended 🤣🤣🤣