When I was in the U.K., I would withdraw my monthly rent in British pounds from the ATM using my Navy-affiliated CU credit card at the beginning of the billing cycle.
My CU would charge my card the market exchange rate for that day, no fees. I would pay off the balance at the end of the billing cycle, using my military housing allowance, no interest charges.
Worked out great. Also did the same in South Korea.
Where were you stationed in the U.K.?
I was stationed at RAF Lakenheath 1973-1976. I had a checking account that I could write checks in pounds to pay the rent and electric bill, etc. I had to guess at the exchange rate until I got my bank statement. I could also write checks on the same account in dollars at the commissary or BX.
I visited England and Europe in later years and always carried traveler’s checks and I’d cash $100 worth every few days, but I realized I was taking a beating with the exchange rates. Then, when I’d go to a different country, I’d take a 2nd beating on the same money to exchange to the new country’s currency. Cards weren’t nearly as prevalent as they are today. I think if I went again, I’d try to use a card directly whenever possible.