ilovetulips

Just thinking about money matters for our trip next spring. I am wondering if it is wise to use my ATM card for purchases, food, museum passes because Iwould get a better exchange rate. Do many places accept them? If not where would I get the better exchange rates for dollars to euros?

uhoh_busted

Yes. We used our (MasterCard) ATM all the time, in Europe, in the Caribbean and in South Africa.

ira

Hi love,

I suggest that you use your ATM card solely for the purpose of getting money from ATM's and your CC for charging what you can charge.

It is not a good idea to let anyone have access to your ATM/debit card because they can empty your bank account.

ilovetulips

Thanks everyone! Now I have a stupid question. When I withdraw money from the ATM in Europe I will be getting euros correct? And is the exchange rate the same at every ATM excluding the minor fluctuations from day to day?

suze

I would use an ATM card only at a bank machine to withdraw Euro (not try to use it as a debit card directly for spending). ATM machines are easy to find in Paris and Amsterdam. Your own home bank may impose a fee per international transaction ($0-3USD), and you will get the floating exhange rate (i.e., 300 euro will cost you a tiny bit different on different days, you will not know this exact amount until you see your bank statement when you get home).

You could also carry US cash to exchange at a regular bank, as a back up method.

Robert2533

The exchange rate will be the same at all standard ATM machines bearing the interlink, cirrus or plus logos. Yes, the cash will be in euros, unless you are in England or the Swiss Alps, or someplace where they have yet to adopt the euro. You will pay your bank a service fee, usually $2.00 a transaction. Although there are a few banks that do not charge this fee and others who do not charge a fee to their best customers.

You will need an ATM/check card with a 4 pin code. It’s also advisable to notify your bank that you will be using the card in Europe as a precaution since they might decline the card when you try to use it. Visa is the most widely accepted ATM or credit card in Europe, but MasterCard is also used and accepted. American Express less so. Check the daily limit on you ATM card. Some limits are quite low and for most people that’s fine, unless you need more cash one day.

You should also check to see if your bank account’s ATM and Credit Card are linked together. Purchasing something with you credit card and then trying to obtain cash with your ATM may cause the transaction to be denied unless the limit is high enough. You can end up having to end up waiting until the following day before you can use the card again, or find an ATM machine belonging to another bank.