Money, Money, Money

Regarding “Paying the Right Price for Foreign Pocket Money” (Travel Insider, Nov. 26): Writer Andrea Sachs’ advice on foreign currency exchange rates presupposes that it is smart to start out a foreign trip with “a pocketful of pesos, pounds or francs.” She tries to demonstrate differences in exchange rates with a few purchases of British pounds. Doesn’t she know that one can buy British pounds at the airport on arrival in Britain at a much better rate?

For U.S. companies to offer foreign currencies, they need to have on hand thousands of dollars’ worth of at least a dozen different currencies, money that is not earning interest. On the other hand, the exchange office at the foreign destination’s airport ships excess dollars in overnight mail to a U.S. bank for immediate credit.

Better yet, if one uses traveler’s checks, besides the greater safety, one gets an even better rate.

PIETER J. VAN OVERBEEK

Ojai

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I’ve traveled to 30 countries in the past 10 years. What I’ve learned:

1. Don’t change money in the U.S. before you leave. The rates are poor, and there is always an exchange booth in the passport area of the foreign country with better rates than at home.

2. In most cases, the best exchange rates come from using your credit card for purchases. There usually are no surcharges, and the rate is good.

3. ATMs are usually the best way to get cash in a foreign country. Even with the surcharge for using a different bank’s ATM, the net rate is the best or close to the best you can get.

4. Always get the largest amount of money you are likely to need at one time; this reduces the effective cost of any commission or service charge.

STEPHEN G. McCARTHY

Pacific Palisades