Best way to get/spend money while visiting the UK?

I've scanned the community and not found this question asked, so forgive me if you feel it is a repeat.

I'm visiting the UK from the US next week, and am wondering what would be the best way to spend money during my stay, without getting screwed by the exchange rate or lots of excess fees:

1) Get actual pounds before I leave the US
2) Bring travellers cheques (if these still exist)
3) Use my US credit card (Chase) for purchases
4) Use my VISA debit card to withdraw pounds from ATMs
5) Something else?

My plan is to make a goodish-sized ATM withdrawal when I arrive, so I have cash in pocket for incidental purchases, and then to use my credit card in other cases. Does that make the most sense?

When I travel internationally I always use a combination of changing a relatively small amount of cash into the local currency before I leave (just in case of a debit card mishap) and then using my debit card to withdraw cash while I'm there.  Make sure you alert your bank that you will be overseas, though, as otherwise you run a very high risk of getting your account flagged for fraud and your card temporarily frozen.

I don't use credit cards internationally except to pay for hotels.

Ooo... Great post! I can't wait to hear what others have to say.

The only thing I can add is that Bank of America and Barclay's have a deal where you can use your BoA card at a Barclay's ATM and not be charged any fees. I haven't tried this yet, but when I called to tell BoA I'd be traveling (which is imperative if you want to use any credit and/or debit cards overseas) they suggested this option to me.

The only thing I can add is that Bank of America and Barclay's have a deal where you can use your BoA card at a Barclay's ATM and not be charged any fees. I haven't tried this yet, but when I called to tell BoA I'd be traveling (which is imperative if you want to use any credit and/or debit cards overseas) they suggested this option to me.

Yep, I'm a BofA customer and made great use of this agreement when I initially came over to the UK for four months and didn't have a UK bank account!  It's very handy.

We also have BOA and use our card at Barclay's when visiting my husband's family in the UK.  No ATM fees and the exchange rate is suprisingly good.  It's also helpful if you have online banking- we are able to go online and see exactly what we are spending and what's coming out, etc. 
If you do not have BOA, it is my humble opinion that bringing US dollars and exchanging them at the Post Office is the next best thing.  They have the best rate and no fees.  That's what we used to do before we found out about BOA/Barclay's.  If you are visiting with a local ASDA handy, they usually have a decent rate of exchange though I believe, if I remember correctly it's been awhile, that they do charge a small fee.

PS- I must also add that I have never contacted BOA to let them know we were travelling and have never had our card denied (we only use it in the ATM though).  We have been over to the UK twice since moving back to the US three years ago with no issues using the BOA card in a Barclay's ATM machine.

If you have AAA membership in the US, they are also commission free and have a good rate. My mum usually buys pounds there when she comes to visit.

My mother has also changed at AAA when she has used to visit us in the UK- however keep in mind that you must contact them and order your pounds....unless you are in a big city there is a very real possibility they won't have the pounds at the local AAA office.  You can also buy "starter packs" at AAA- which is basically coins and a few small bills to use when you first arrive in the UK.....if I remember correctly my mom paid something like $100 for 40 GBP in mixed small notes and coins.

I always use ATMs and rarely notify my bank (PNC), never use credit cards, they do charge large fees.  

We used our US debit cards a lot when we first got here, before we opened our UK bank account, and we got charged "exchange fees" every single time. They added up to over $300 when it was all said and done and we haven't been able to get them back. Dont know if your bank will charge them but be careful... its a very nasty surprise to find on your statement.

We used our US debit cards a lot when we first got here, before we opened our UK bank account, and we got charged "exchange fees" every single time. They added up to over $300 when it was all said and done and we haven't been able to get them back. Dont know if your bank will charge them but be careful... its a very nasty surprise to find on your statement.

Yup, BoA charges 3% on purchases with foreign companies, even if they're made online. I was charged $21 for a $700 plane ticket bought online from British Airways. The bank wouldn't refund the charge, but British Airways, did, thankfully.

My friend just came for a visit and exchanged some dollars at her local bank in America and some dollars here at our local post office, and both rates were the same. So you could exchange it in either location for about the same (I wouldn't do it at the airport, I have done that before and felt I was getting screwed.) Using credit and debit cards can be a bit tricky at some places due to chip and pin, so I would try to bring cash. I definitely wouldn't do Travelers Cheques, I think they are kind of pointless.

I used to always carry cash in the form of dollars, and just changed it as I needed it once I got here, wherever seemed to have the best rate...

I always stayed in a private home, though, and might have felt nervous about it if I'd been staying in a hotel.  Never bothered me traveling with all that cash...it was always carried on my person with no chance of it being picked from a pocket.

Since moving to the UK I've used my US debit card here all the time. My bank still has my old address in the US (my parents) and I never notified them that I had moved but have had no problems using it here. I would take a few £'s with you just incase of card probs once you arrived. A lot of places locally to me don't take cheques of any kind including travellers cheques so you might want to consider that before you purchase them.

The only thing I can add is that Bank of America and Barclay's have a deal where you can use your BoA card at a Barclay's ATM and not be charged any fees. I haven't tried this yet, but when I called to tell BoA I'd be traveling (which is imperative if you want to use any credit and/or debit cards overseas) they suggested this option to me.

Wish I would have known this 12 days ago.  I am a BofA customer and I went to Natwest the whole time.  Barclay's was just 14 feet down the road, probably cost me $50 in fees.