Converting large amounts of cash

I just recently got to the UK, before leaving the US, my wife actually took a lot of cash in US banknotes out of the bank.  I am now trying to figure out the best way to convert this to pounds.  If anyone knows please let me know.  She figured that this was a way to get the best rate, although I didn't, and don't like the idea of having ltos of cash.  But what is done is done, and I have to work with it.

digi-  hmmm.  i'm converting US to UK for a house downpayment.  i'm using a uk based currency exchange house.  but they won't accept cash (can't prove where it came from, money laundering etc).  i guess you would take it to an exchange place (like those at airports).  don't know if they have a limit on the amount you can change at once.

I just recently got to the UK, before leaving the US, my wife actually took a lot of cash in US banknotes out of the bank.  I am now trying to figure out the best way to convert this to pounds.  If anyone knows please let me know.  She figured that this was a way to get the best rate, although I didn't, and don't like the idea of having ltos of cash.  But what is done is done, and I have to work with it.

The Post Office will exchange it commission-free

Just to add to COTC's response, the post office will convert it commission free, but have a good look around all the major banks as well as they are slightly more competitive than the P.O and if it's a lot, sometimes its worth paying a small commission fee to achieve the best rate.

Also do a search of local independent Bureau de Change (not the touristy rip-off ones though) Our local BdC is actually about 4/5 p better than all the banks & the P.Office right now (and commission free) as I am keeping a close eye on them for my own exchange.

Hth

Here is a calculator from the P Office to give you an idea of what they're buying at:

http://www.postoffice.co.uk/portal/po/foreignexchange?pageId=fex_main&catId=1500004&type=sell&showresults=true&_requestid=27305

The post Office rate I have found to be too high.  However, I have been reccomended by others to look at Marks and Spencers, they have a rate of about 1.88 today, and the advertised rate is 1.84 for today, so they aren't bad.  Same rate at Thomas Cook and neither takes comission.  The post office is a rip-off at 1.97.  Im still wondering if there are better ways.  I also advise others to wait a few days, hopefully the dollar will rebound since the hurricane is over.

Good tip, M&S - but I think you have to be a card holder to get a preferential rate    Out of the banks, HSBC seems to be better than the other major banks.

The best way to do it is to use a currency services broker like:
http://www.xe.com/sitemap.htm

There's lots of info on this around, but it can be a bit fiddly if you don't have bank account both ends(like us), we could send it into a friend's account, but just would prefer not too,