al

Leaving for Greece in two weeks and I'm still a little unsure about the most cost efficient way to get Euros while I'm there. Should I:

a) Use a bank issued credit card (Visa, Master) in an ATM? Will I pay a cash advance fee from the credit card company plus an ATM fee, plus the 3% foreign transaction fee?

b) Use an American Express card instead of a Visa or Master in an ATM? Is it in any way an advantage to a) above?

c) Move cash into my bank account and use my regular bank debit card?

d) Convert to a bunch of dollars to Euros before I leave and take my chances traveling with cash?

I'm thinking c) may be the best option, but if there's anything I'm not thinking of, let me know.

janisj

c) Move cash into my bank account and use my regular bank debit card?

Absolutely . . . .

J62

c) final answer

alanRow

a) is nuts - not only will you get charged a fee for the withdrawal, a fee for the exchange BUT you will also be charged interest from the day of withdrawal until you pay off ALL of your debt - as normally cash advances come off your balance last because they are more profitable to the CC company

b) AmEx isn't widely accepted in Europe, so not only do you have the problems of a) but you have the problems of actually being able to use it.

So that leaves c) which will require you to tell you bank you are going abroad, finding out what fees will be charged so you can work out the best amount to withdraw each and the overseas contact number of your bank for when they forget you've told them you are going abroad and they block your card.

There is d) BTW, use your CC to buy goods & services - but you need to follow the same requirements as in c)

Pegontheroad

Definitely c).

I charge everything possible because my Visa earns miles. I earned 2 tickets to Spain in 2004 and 2 tickets to Ireland in 2007.

However, my visa charges a 3% fee for overseas transactions. So if not for the free trips, I'd probably be smarter to get $500 at a time, for which I'd pay a flat $5.00 fee and pay everything in cash.

Charging $500 worth of whatever costs me $15.00, whereas drawing $500 cash costs only $5.00.

If your bank is like mine and charges a flat fee per transaction, no matter how much you draw, I suggest that you draw your limit every day and keep your cash in a money belt.

cmeyer54

As an added precaution, see if you can set a limit on withdrawal amounts each day with the bank. That way, if for some reason your card is compromised, you'll only be out, as an example, $200 or $250.

janisj

&quot;<i>As an added precaution, see if you can set a limit on withdrawal amounts each day with the bank. That way, if for some reason your card is compromised, you'll only be out, as an example, $200 or $250.</i>&quot;

Most banks do have a daily limit.

I actually have my bank <i>raise</i> my daily limit, not reduce it. I usually need more cash when in Europe for things like paying for an apartment on arrival or whatever. Having a higher limit can really come in handy.

Underhill

This question deserves to be put into an FAQ section. It just keeps coming up over and over and over again.

Well, editors?

elcon

C. is probably best, but have a backup plan. I notified my bank three times before a recent trip (and watched them put the info into thier system). To my surprise, I couldn't use the card when I got to my destination. Thankfully, I had some euros on hand and a backup atm card that I got just for that purpose.

worldinabag

Hi

As another tip I use a card with the Cirrus/Maestro symbol and use it only on ATMs displaying these symbols. Don't know if it makes any difference but haven't had any problems so far. And don't forget to notify your bank you're using your card overseas. Just hope it's not the same bank as Elcon's.

nytraveler

Charge whatever expenses you can to your CC. But do NOT use it to pull cash - you will pay horrendous interest rates. Put the money in your checking account and pull it from there with your ATM card,

al

Thanks everyone!