Credit card/bank foreign currency fees

Pittpanther, do you know what Paypal charges if you try to transfer more than $500 in one month?

Right now I have a UK Paypal account attached to my UK bank account.
Do I just setup a US Paypal account (with same email address?) attached to my US bank account and then
just send money between the two?

Thanks,
Matt

Thanks you everyone for all the great advice. I do have some good news to report: after much begging and pleading, my company has agreed to pay me in pounds into a british bank!  So that solves my money transfer issue.  I'm still going to open a Bank of America checking account to make use of their ATM world partnerships when I'm traveling.

As for credit cards, I'm now depating between a Visa from MNBA or my credit union.  I've never had an American Express. Is there any particular advantage of having an AMEX card, particularly the new Blue card? 

Pittpanther, do you know what Paypal charges if you try to transfer more than $500 in one month?

Right now I have a UK Paypal account attached to my UK bank account.
Do I just setup a US Paypal account (with same email address?) attached to my US bank account and then
just send money between the two?

Thanks,
Matt

I'm not sure what the fee is. You can search around the paypal site to see. I'm pretty sure for a monthly fee you can increase the amount of transfer. Depends on the email address -I have mine linked to my yahoo.com account and my brit bf uses his gmail account for his and that's how we transfer money so far. Try it and see if it works

In my experience, Amex cards are not universally accepted in the UK.  The reason, or so I was told when I worked in a retail store, was that Amex charge retailers more than other card companies.

I don't know if you'd be able to get a UK credit card, as the UK institution would run a credit check and want evidence that you reside here etc etc, but can I recommend to all the Nationwide Visa credit/debit card, which charges NO FEES for foreign currency transactions - to my knowledge this is the only UK institution to do so - see www.nationwide.co.uk (and no, I don't work for Nationwide!!!)

Chris

I'm not sure that there is a real advantage other than the fact that American Express does not charge the currency conversion fee.  Also, their blue card is like any other regular credit card.  With this version, you can carry a balance.  Of course, as pointed out, there is still the question as to whether or not retailers in the UK will accept.  Thinking major ones will, but I could be wrong.  Either way, wouldn't get rid of your regular credit card until you have a UK one.  Paying the 3% sucks, but walking around with a large amount of cash all the time is not a good idea. 

We have had the Amex Blue card since it came out.  We now live in Switzerland, but are moving to UK this summer.  We were notified recently about a class action lawsuit based on the fact that Amex does charge 2 % extra on all foreign purchases but have hidden these charges.  We later received a letter from Amex stating that they do charge the 2 %.  Too bad because this card gives up to 5% money back on all purchases.  You can now get Amex Blue here in Switzerland, but because we're moving, I'm not making the effort.  Three years ago, no one here took any credit cards.  Now they all do...even Amex.  It's use must be spreading.