We are often asked where is the cheapest place to buy US Dollars? The answer is most definitely online, followed by the high street, then finally at the airport which offer the worst rates of all. Let's consider each in a bit more detail:

Buying US Dollars online

Buying your US Dollars online is always the cheapest option. Competition among online suppliers is very high which means they constantly battle to offer you the best rates possible. In addition, their overheads are much lower than traditional high street exchanges which means they can afford to pass these savings directly on to you in the form of better exchange rates. Even suppliers who offer online and in-store ordering such as the Post Office will usually give better rates for orders placed online.

Buying US Dollars in the high street

The high street is the next best place to order US Dollars. It is difficult to generalise all high street suppliers because they are so varied, but if you are set on buying your US Dollars in the high street some places are better than others, usually in this order (best to worst): Specialist bureau de change, pawnbrokers and money shops, supermarkets, the Post Office, travel agents, and banks.

Buying US Dollars at the airport

Our general advice is to avoid buying currency at the airport at all costs because they are usually the worst places in the country for foreign exchange. If you have left it too late and need to buy at the airport, try and reserve your currency online first and collect it when you get there rather than placing a new order when you arrive. Most airport kiosks are run by three suppliers; Travelex, Moneycorp or ICE PLC and all three of these have websites that allow you to reserve your currency online for collection at the airport. The exchange rates are still pretty bad but they will be better than just turning up on the day and trying your luck. As an alternative it may be cheaper to actually buy your currency when you arrive at your destination rather than paying the airport rates.