In the June 3 Travel Section, you had an article by James Yenckel, “Some Little Things About Europe That May Not Be in Those Books.” He pointed out a problem exchanging U.S. funds into English pounds in London. He is correct in saying that many institutions charge enormous fees. But he failed to present the logical solution.
I have been buying traveler’s checks in foreign currencies here in Los Angeles before I leave on a trip, paying a mere 1% service charge on the dollar amount exchanged, and then cashing my checks in any of several designated banks, or in most larger stores abroad, with no additional fee. If you are traveling with any substantial amount of money, this is an obvious answer.
I purchase my traveler’s checks at Chase Travel in Glendale, an assigned American Express outlet. You can also deal with Ruesch International, Deak & Co., or any any American Express travel store. There are several currencies available. Any leftovers can be saved for the next trip or exchanged back into U.S. funds. (There is, of course, an additional charge for the re-conversion.)