US dollars???
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Can anyone tell me if there is any benefit to exchanging your money in the UK rather than just withdrawing it out of my bank in the USA? I am with natwest bank so i am not sure whether they charge an additional rate for just withdrawing it abroad? can anyone help me out?
US dollars???Do it in the UK. You get stung using American ATM's. Personal experience. Try and charge as much as you can to a credit card though whilst over there. This way you get the money market exchange rate which is always better than the tourist rate.
US dollars???Banks have to make money, and they will make it from interests if you borrow, from fees for using their services including using an ATM overseas, and from money exchange.
So, the answer to your question is a sound yes. Your bank will make money from you by charging you fee from using your ATM, and by offering you an exchange rate different than the official rate for the day, so they can benefit from that transaction as well.
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