Best way to EXCHANGE US TO EURO.
Feb 8th, 2012, 09:42 AM
#21
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Can't imagine what someone is doing spending $1000 every couple of days.
The safest and mist inexpensive thing to do is:
1) Pay for all you an with yuor credit cards
2) Pull walking around money from your checking account with an ATM card - at an ATM attached to or sponsored by a bank (these are free - commercial ATMs will charge a fee - just as in the US)
This will end up cosint you 1 to 2% over the Intebank rate (that used for commercial exchanges - of millions or more).
If you change $ to euros in the US you will get a terrible rate (probably 8 to 10% above Interbank - but will hae the safety issue of carrying all that cash).
If you take dollars with yuo there is the carrying the cash safety issue, finding and waiting at a place that will exchange cash - and again a poor rate of exchange.
If you don;t do credit cards/ATMs yuo may end up throwing 5% of your money out the window.
If you want a money belt fine - but do understandhw to use it. (I have seen people in stores pull the belt off and take money out of it. NO!. You carry the money for the day in your pocket or purse - money belts are for extra credit/ATM cards and the bult of your cash. You put it on in the AM - and take more money out of it only in your hotle room.)
Or, do what I do - and just carry your money in your purse. Have done this for 90+ trips to europe and have never had any sort of problem. (Caveat: I'm a native New Yorker and have noticed that what seem to be to be the obvious guidelines about securing your belonings - in any part of the world - are things that some people don't do.)
The safest and mist inexpensive thing to do is:
1) Pay for all you an with yuor credit cards
2) Pull walking around money from your checking account with an ATM card - at an ATM attached to or sponsored by a bank (these are free - commercial ATMs will charge a fee - just as in the US)
This will end up cosint you 1 to 2% over the Intebank rate (that used for commercial exchanges - of millions or more).
If you change $ to euros in the US you will get a terrible rate (probably 8 to 10% above Interbank - but will hae the safety issue of carrying all that cash).
If you take dollars with yuo there is the carrying the cash safety issue, finding and waiting at a place that will exchange cash - and again a poor rate of exchange.
If you don;t do credit cards/ATMs yuo may end up throwing 5% of your money out the window.
If you want a money belt fine - but do understandhw to use it. (I have seen people in stores pull the belt off and take money out of it. NO!. You carry the money for the day in your pocket or purse - money belts are for extra credit/ATM cards and the bult of your cash. You put it on in the AM - and take more money out of it only in your hotle room.)
Or, do what I do - and just carry your money in your purse. Have done this for 90+ trips to europe and have never had any sort of problem. (Caveat: I'm a native New Yorker and have noticed that what seem to be to be the obvious guidelines about securing your belonings - in any part of the world - are things that some people don't do.)
Feb 8th, 2012, 09:51 AM
#22
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"Can't imagine what someone is doing spending $1000 every couple of days."
If you are shopping maybe is a lot, but when you have to pay in cash in advance for your reservations as in our case, it was the best for me to do.
Instead of having to go to the bank every day to reach the $1,000 I went once before I had to pay the apartments in Manarola and Rome where credit cards were not allowed, apartments rental usually required cash, not everybody in this board are loaded and travel in hotels and pay with credit cards, but cash.
If you are shopping maybe is a lot, but when you have to pay in cash in advance for your reservations as in our case, it was the best for me to do.
Instead of having to go to the bank every day to reach the $1,000 I went once before I had to pay the apartments in Manarola and Rome where credit cards were not allowed, apartments rental usually required cash, not everybody in this board are loaded and travel in hotels and pay with credit cards, but cash.
Feb 8th, 2012, 09:59 AM
#23
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Although banks do not charge at the ATM, you pay for the exhcange in the actual difference of ine rate. It is a bit of a facade.
I always like to pay with my credit card because the companies buy so much of different currencies, the exchange rate is often advantageous. This is opposed to using the credit card to get cash, where the rates seem usurious.
I always like to pay with my credit card because the companies buy so much of different currencies, the exchange rate is often advantageous. This is opposed to using the credit card to get cash, where the rates seem usurious.
Feb 8th, 2012, 10:57 AM
#24
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This site tells the exchange charges for a large number of financial institutions. I use a Capitol One credit card, which charges no foreign exchange fees for credit card purchase, and I have a separate money market account that I use for ATM withdrawals. Also, my bank has no foreign exchange or transaction fees on ATM withdrawals. I closed all my Bank of America accounts because of their high fees.
http://www.flyerguide.com/wiki/index...reign_Exchange
http://www.flyerguide.com/wiki/index...reign_Exchange
Feb 8th, 2012, 04:52 PM
#25
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We used our Capitol One card extensively our past trip to Rome and Paris because no international fees (thanks nukesafe, I'm pretty sure I learned this because of one of your posts). We took all our cards just in case but just used the Cap One. Just notify whatever cards you take that you will be traveling. Many of the places that we went (museums and restaurants) took our credit card but do make sure you have enough cash to cover you charges. We needed more cash for Rome than Paris.
Feb 8th, 2012, 05:46 PM
#26
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<i>"No need to do this with ATM card."</i>
Michel_Paris- Yes, it is still necessary to do this with an ATM card. I know from personal experience.
I had to not only remove a daily limit (for security reasons), but also to ask them to tell the security dept what days I would be traveling out of the country. They neglected to tell the security dept and, after using my ATM card in Rome, I was prevented from using it again. Had to call to remind them where I was and that I asked for security to be informed.
This is one reason that, when I return to Italy in October, I will give my DD some cash to put in her account before we go. That way, if my card is jacked up or lost, we can use hers from her bank. (I can transfer money to other banks/other accounts online, with my credit union.)
And for others... my credit union does not charge any fees for withdrawal, even in Euros. No fees.
Michel_Paris- Yes, it is still necessary to do this with an ATM card. I know from personal experience.
I had to not only remove a daily limit (for security reasons), but also to ask them to tell the security dept what days I would be traveling out of the country. They neglected to tell the security dept and, after using my ATM card in Rome, I was prevented from using it again. Had to call to remind them where I was and that I asked for security to be informed.
This is one reason that, when I return to Italy in October, I will give my DD some cash to put in her account before we go. That way, if my card is jacked up or lost, we can use hers from her bank. (I can transfer money to other banks/other accounts online, with my credit union.)
And for others... my credit union does not charge any fees for withdrawal, even in Euros. No fees.
Feb 8th, 2012, 06:57 PM
#27
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Sarge, last year I went to Tanzania, so I decided, for first time ever to call Visa, which was OK..when I called my bank about ATM, they said don't bother and nothing was required.
to be clear, I've been travelling out of country for years...last trips have been Tanzania, London. Turkey, Ghana, Paris and Lyon. For those, did nothing about calling bank.
to be clear, I've been travelling out of country for years...last trips have been Tanzania, London. Turkey, Ghana, Paris and Lyon. For those, did nothing about calling bank.
Feb 8th, 2012, 07:32 PM
#28
>>>Michel_Paris on Feb 8, 12 at 12:49pm
Before you go, not a bad idea to let your CC company know that you are going to Europe. They could block charges because you have never used it there before.
No need to do this with ATM card.<<<
Perhaps for Canadian cards you don't need to, but in the US you will often find your account frozen if you don't.
Before you go, not a bad idea to let your CC company know that you are going to Europe. They could block charges because you have never used it there before.
No need to do this with ATM card.<<<
Perhaps for Canadian cards you don't need to, but in the US you will often find your account frozen if you don't.
Feb 8th, 2012, 08:41 PM
#29
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Even if you do call them, the first time you use the card it is sometimes refused. Must be something with the security software.
Be sure to find out the proper number to call if you have problems. The "1-800 toll free" number on the back of the card will not work from Europe, and you need a different number with some cards. When you call the card company to tell them you are going overseas, be sure to ask for the proper contact number to call.
Be sure to find out the proper number to call if you have problems. The "1-800 toll free" number on the back of the card will not work from Europe, and you need a different number with some cards. When you call the card company to tell them you are going overseas, be sure to ask for the proper contact number to call.
Mar 25th, 2012, 09:02 AM
#30
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My experience in Venice in November, standing in a piazza in the rain trying to call my bank on my cell.... "I'm sorry, I don't KNOW the EXACT amount of my last deposit!". Yes, absolutely call your bank before leaving the country.
Signed,
A very frequent international traveler
Signed,
A very frequent international traveler
Mar 27th, 2012, 02:44 PM
#32
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I always call to notify the bank or credit card company of overseas use because I know they watch for fraud. About 3 years ago I was not traveling but I made a purchase from a British company and my purchase was rejected. I called the bank to ask why and they told me I should have informed them I was traveling in the UK. I told them I was NOT traveling in the UK but I did make this purchase so they authorized it.
I can't say that all banks watch all the time but mine does and I'm glad for that.
I can't say that all banks watch all the time but mine does and I'm glad for that.
Mar 27th, 2012, 05:24 PM
#33
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Aduchamp1, I have 2 ATM cards (actually debit cards) from 2 different credit unions. For foreign withdrawals, they both charge no fee and a rate of 1% over the interbank rate. I also have a credit card from each credit union and they both charge the same 1% over the interbank rate on foreign charges.
So no need to pay extra to a bank.
So no need to pay extra to a bank.
