humanone

We are planning to stay in private rooms almost everywhere in Slovenia and have been informed we have to pay cash. I know if you use your credit card in an ATM you have to not only pay the transaction fee of the card company, but the interest on a cash advance from the moment the money leaves the machine. Debit cards are much cheaper, but if one is stolen or you are wrongfully debited, there is no recourse as there is with the best credit cards like American Express. What other solution is there? I know the Euro has been adopted as the secondary currency, but would a small grocery store or private person with a room to rent accept them?

BigRuss

Get a CapOne savings account and use their ATM card. No fee, no exchange %.

adrienne

Millions of people use debit cards to get cash in foreign countries. If your debit card is stolen, the thief would need to figure out the pin to use the card. I'm sure this can be done but in the meantime you can freeze your checking account. How often have you been "wrongfully debited" when using an ATM debit card?

If you want to use a credit card to get cash the interest is only a couple of dollars (of course, it depends on how much money you are taking out). You can pay the balance either as soon as you get home or go to an internet cafe and transfer funds from your savings or checking accounts to pay off the credit card balances during your vacation. I'm not recommending using credit cards for cash advances; only explaining what you can do.

The other option is to get cash in Euros before you leave home. Also not a good option since the exchange rate will be terrible and cost you more than the interest on cash advances with your credit card.

I don't understand your last question as "accept them" refers to Euros. Are you asking if small stores/private individuals accept credit cards? I doubt it.

Why don't you just do what most people do and use your debit card to get cash but limit the amount of money in your checking account. You can always transfer money into your checking account half way through your trip. I wouldn't worry so much about this.

Cowboy1968

The Euro is the official currency of Slovenia since 2007.

Use ATMs to get cash.

My (European) Visa and MCs do not charge cash advance fees when (and only when) you have a positive balance on your CC account. Don't know if your CCs in the US have the same scheme.

quokka

>I know the Euro has been adopted as the secondary currency, but would a small grocery store or private person with a room to rent accept them?

Secondary? Huh???
Slovenia has adopted the Euro as the one and only official currency that is used and accepted in the country.

P_M

"Debit cards are much cheaper, but if one is stolen or you are wrongfully debited, there is no recourse as there is with the best credit cards like American Express."

WRONG!! You DO have recourse!!

You need to call your bank and ask that question. And if that is indeed your situation then you need to change banks.

Last year I was in Peru and a young lady in my group had her debit card stolen. She immediately called her bank at home and they stopped the card, however there had already been fruadulent activity. She filed a forgery claim and her money was refuned in full. That is the way it is done in every bank I know, so if your bank told you otherwise then you should move your accounts.

Seamus

Why do you think "there is no recourse" with debit cards? Of course there is. Check with your bank.
And BTW here are legions who would argue that AmEx is far from "the best" CC - myself included.

P_M

Correction: I said "forgery claim" above, I meant to say "fraudulent activity" claim.

humanone, please think about what you said about no recourse if your debit card is stolen. What would be the purpose of having a debit card if you had no protection? People would just carry around cash. Please do call you bank so they can clear up these misconceptions for you.

nytraveler

No - if you pull the money from your checking account (NOT a credit card) there is no interest charged you - just the % the bank charges you. Interest is charged only if you are pulling a cash advance from a Visa or MasterCard - just like at home.

ira

Hi hum,

You can have your Amex card linked to your bank account so that it can be used as an ATM card.

Check with Amex regarding ATM fees and conversion charges.

Robespierre

Check with Schwab Bank about their debit cards. They have zero currency markup when used for cash or purchases, and if an ATM charges a fee, they rebate it. Every dollar of your balance is guaranteed against fraud.

Many places don't accept Amex because of their usurious merchant fees.

cigalechanta

I get my euros here. My bank charges 3% on each transaction I make in France.

Michael

cigalechanta,

and what is the rate that your US bank gives you compared to http://www.xe.com/ucc/? Is it really better than the 3% you would be charged for ATM withdrawals?

Robespierre

<U>Three percent</u> for withdrawals? Seems pretty high. Or is that the currency markup?

kayd

It is probably possible to get an ATM-only card instead of a debit card. It would be safe from unauthorized use because in works only with a PIN in an ATM.
Banks prefer for us to use the Visa/MC branded debit cards but you can ask for the ATM card if you prefer not to have the ability to use the card for purchases. I have insisted on ATM-only cards for years, and have been able to get them from four different banks, usually by going in to a branch to exchange the debit card they automatically send out.

Dayenu

"I know the Euro has been adopted as the secondary currency" - you mean secondary to the US dollar?

P_M

"It is probably possible to get an ATM-only card instead of a debit card."

Sorry but I disagree, the ATM card is not the best thing when traveling overseas. When I was in Belgium I had an ATM card and no debit card. I tried at least 5 ATMs and none of them worked. I called the bank to ask what's wrong and they said in some countries you must have a debit card as the ATM card will not work, and Belgium is one such country. From that day forward I've used a debit card and never had any further trouble.

The exact same thing happened to our poster NeoPatrick when he tried to use his ATM card in Belgium. I'm told Belgium is not the only country where you really need a debit card, but I don't know what the others are.

And once again, if someone steals it, you ARE protected and you will get your money back.

Michael

<i>Three percent for withdrawals? Seems pretty high.</i>

If you withdraw $100's worth in Europe using your BofA card, you will be charged $5, which is 5% of the amount, take out only $50 and it comes out to 10%. That's why I use my BofA card only with partner banks, otherwise I use my credit union ATM card which levies no fees.

kayd

P_M -- thanks for that caveat about the need for a debit card in some places. My ATM-only has worked fine in every country I have visited (Britain last month, Canada and 5 or 6 on the continent between 2000 and 2007), but it is a good reminder to check about changes in practices and technology before the next trip.