Answers
I've exchanged currency at a local bank and received considerably less than rates indicated. I've seen currecny specialized exchange locations in other countries; might there be a trustworthy establisment here in the States?
They should be exchanging at that day's current rate.
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Do I? I have several thousand Mexican Pesos that I want to exchange for US dollars, but do I need an account with them? Can I Just go into a Bank of America location and trade my money?
Bank of America charges a fee for check cashing if you do not have an account there, so they might take a percentage to trade them in, but they may not, might just want to go in and ask or call their toll free number.
Go to the airport, there is a place there in the main terminal (hopefully OUTSIDE security). Also look in the phone book for an American Express office, they normally do this for a small fee.
My uncle says that there is a place in DC called "Deeks" (sp?) that has the best exchange rate. Anyone know where I can go to get LARGE foreign bills exchanged for US dollars? I need a specific location in the Northern Virginia area. Suggestions are welcome!
There is a Travelex in the Train level of Union Station, about halfway down the hallway - near the Amtrak gates.
There is a small foreign exchange place in the Post Office Pavillion, in the food court area. It is private, so you might be able to get the bills changed there. This might be where your uncle is talking about, but I am not sure.
Banks generally only do it for customers - though the World Bank might be able to help anyone.
I found a company called TravelEx with retail locations in L.A., but their rate is horrible. Today's XE.net mid-market rate for UK pounds is £1.00 -> $1.90. TravelEx will buy £1 for $1.75!
Pick a reputable bank and do it there.
Foreign Currency: Cash and Travellers Cheques
You are advised to indifferent kind out your foreign currency before you set off on your time off. All though you can always transform your hard cash once you show up at your terminus doing it in further means you have some spending loot as directly as you prosper for any tips or taxis etc. However, in some countries you are not talented to exchange your readies until you attain there.
You can exchange your on Easy Street for foreign currency in almost any bank or erection world, along with the locate business and some loaded lane shops such as Marks & Spencers. You can boutique around for the most qualified exchange judge but in general most exchanges will submit to copy the largest valuation offered elsewhere so ask if you are unsure. Some exchanges will storm commission to exchange your percentage but then again some do not so again inform on around and see what each exchange offers.
When purchasing your legal tender you would be advised not to take it all in money. Carrying a composite of exchange and travellers cheques means that should your stinking rich be missing or stolen then you can seek a refund on your travellers cheques. Stolen or demolished dough cannot be replaced, and although some tour cover may hide-out you for such instances, you will find that the amount that is refunded is restricted, and along with your overkill debauchery it may hand over any contend silly and purposeless. Therefore, by carrying travellers cheques you have the added deposit that if they are irremediable or stolen that they will be reissued by the issuers.
With travellers cheques, you give them when you leverage them (at the same exchange speed as your liquidate) and then you can moolah them in whilst away at a local foreign exchange or bank. Many hotels and shops also offering exchange facilities but always do research their commission fee and be accurate that they are moral before doing so. The last trend you’ll craving to do is end up with a pack of fraud notes. Most exchange facilities will invoice commission to money in your travellers cheques but it is as per usual as low as 2% which is a close-fisted outlay to pay for the added shelter they forth over money. When you hard cash in your travellers cheques or exchange readies you will normally sine qua non your passport with you also. When getting notes from an exchange celerity, try and keep peak currency notes. Not only does this small you keep off carrying a altogether volume of your break bread in fair one note, it also means less burdensomeness when paying for items of a smaller assay.
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