Foreign Currency ATM Hits the High Street

The first ever ATM machine that supplies foreign currency such as dollars and euros has arrived. Launched by a high street bank, it's said to be the first of many multi-currency ATMs to hit the UK. But if you want to make the most of foreign currency exchange rates you could make massive savings using a foreign exchange specialist. Such companies will make sure you make the most of exchange rates so you get more money for your pound. Banks however traditionally have higher charges and don't get foreign currency at wholesale rates, making it more expensive.

Foreign Currency – ATM Convenience

The ATM machines however are simply a matter of convenience for many people going abroad. But if customers are not from the high street bank supplying the ATM, they could face charges on withdrawing the foreign currency from their own banks or building societies. The ATMs however do provide a service to customers wanting instant access to foreign currency.

Foreign Currency ATM – Beware Bank Charges

The first ATM providing foreign currency has been installed at the Old Broad Street branch of The Halifax in the City of London. It accepts credit and debit cards, and customers of the bank will be charged the normal cash rate for withdrawals. If however, you want to make the most of the exchange rates, it's advisable to buy foreign currency from a foreign currency company that specialise in transferring money overseas opportunistically to make the most of the exchange rates. This is especially true if you're making a big investment such as buying a property abroad.

Plans for more ATM Machines for Foreign Currency

Obtaining foreign currency from the ATM here is no more advantageous then obtaining it from an ATM in the country you're going to – it will cost the same – it's thought customers will use it simply as a convenience, rather than waiting until they reached their holiday destination.

There are plans for three more foreign currency ATM machines in London with more to follow across the country in Basingstoke, Southampton, Chester and Windsor. It's worth using the foreign currency ATM with caution if you are not a customer of the bank – you should investigate what charges your bank will make on the withdrawals first.

Foreign Currency Exchange Ltd is a commercial currency brokerage based in the UK. We help thousands of clients move hundreds of million pounds across the globe every day. From large businesses to private individuals who wish to send regular payments abroad, you can save money with us by getting better currency exchange rates than with your bank. The Foreign Currency Exchange buys currency at wholesale rates and can help you save money with our fast secure service. For more information contact us now, telephone +44 (0) 20 7989 0000 or email info@fcexchange.co.uk