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Get the Best Pound Exchange Rate When Travelling to the UK The United Kingdom (or the UK) is one of the best places on the planet to visit. Whether you are a foodie, backpacker, sports enthusiast, adventure seeker, or a typical tourist, the UK is for diverse types of travelers. All the four nations – England, Scotland, Wales, and Northern Ireland – make the United Kingdom, a dream destination for visitors. Although, March to June is considered to be the best times to visit the UK, you can find great deals if you visit in the colder months of the year. The official Pound to Indian Rupee exchange rate today is Rs. 90.05 (at time of writing this blog). There are several ways to exchange INR for Pound Sterling, but how can you get the best Pound exchange rate when travelling to the UK? Read on to find that out. Before revealing how to get the best Pound exchange rate when travelling to the UK, following is a list to compare the British Pound rate today: Debit or Credit Card– Using your international debit or credit card to withdraw cash or to make a payment in the UK is extremely convenient. But it is not really a smart option. If you swipe your international debit or credit card in the UK, you will have to pay currency conversion charge for every transaction/withdrawal. That is because your international debit or credit card carries the Indian currency. How much will be the currency conversion charge? Good question; it can go from 6.5% to 11.5% depending on your card issuing company. Recommended– No Wire Transfer– Wire transfers can be made from india to the UK through banks and non-bank vendors. However, these options can sometimes be quite expensive. To complete a Wire Transfer, the receiver as well as the
sender has to locate and visit the agency along with the documents necessary to validate the transfer. For an international Wire Transfer, the time taken for the entire process can take up to 48 hours. Recommended– No Traveller’s Cheque– A Traveller’s Cheque is an old school way carry out transaction in a foreign country like the UK. The commission charged on Traveller’s Cheques range between 5 to 7%. Although it is still used, its usage has fallen drastically as it is not widely accepted. Hence, carrying Travellers Cheques to the UK is not at all recommended. Recommended– No PayPal– PayPal and similar wallets are quite easy to use and extremely convenient, but the charges make them really expensive. There will be currency conversion charges in addition to Paypal’s own charge. That, however, is not the only drawback. Although Paypal is fairly popular, it can only be used for online transactions and not to withdraw cash. Recommended– No Prepaid Forex Card– A prepaid Forex card issued by Buy Forex Online will get you the best Pound exchange rate when travelling to the UK. At the time of writing this blog, the British Pound rate offered by Buy Forex Online was Rs. 89.98 (live official exchange rate was Rs. 90.05). Buy Forex Online is the only Forex company to offer GBP which is lower than the live official exchange rate. Apart from that, here’s what makes a prepaid Forex card issued by Buy Forex Online your best option to buy GBP: The Forex card gets delivered at your doorstep within 24 to 48 hours. You get instant support 24/7. You get three ATM withdrawals per month for free. There is no transaction fee whatsoever. The money on your Forex card stays secure at all times. You can reload it from anywhere using the internet. You get a free replacement Forex card in case if the original one gets stolen or lost.
It is easy to use and is widely accepted. You can easily en-cash the left over amount on your Forex card. Recommended – Yes, highly Cash (special mention)– The biggest issue with carrying only cash to the UK (or any foreign country for that matter) is safety. Carrying only cash is never safe and it also robs the peace of mind. Having said that, keeping GBP in cash is also important for you will need it after landing and before you can use your prepaid Forex card. Recommended– Yes Conclusion– We suggest our customers to load money on a prepaid Forex card and carry some cash along with it. Buy Forex Online offers Pound on a prepaid Forex card and in cash at the same exchange rate (which is lower than the live official exchange rate). A question arises – how much cash should you carry? Ideally, carrying 80% of the total amount on your prepaid travel card and the remaining 20% in cash is what we would recommend.