Best way to get Euros while in Paris and Pounds in England
May 1st, 2010, 10:19 PM
#21
"<i>we do get them for a very small fee. If you check around, you may get a lower fee with whatever bank you use.</i>"
Low fees is no big deal - you don't even have to be a retired bank employee. Many banks have low or no fees for their own customers -- but they stick it to you w/ the crappy exchange rate.
All the time, folks post >>our bank will sell us € w/o a fee . . .<< But they usually have no idea what the exchange rate should have been that day.
You simply cannot get a reasonable rate for € outside of the euro zone. The bank will get their profit somewhere -- either w/ the fees, or w/ the exchange -- or both . . .
Low fees is no big deal - you don't even have to be a retired bank employee. Many banks have low or no fees for their own customers -- but they stick it to you w/ the crappy exchange rate.
All the time, folks post >>our bank will sell us € w/o a fee . . .<< But they usually have no idea what the exchange rate should have been that day.
You simply cannot get a reasonable rate for € outside of the euro zone. The bank will get their profit somewhere -- either w/ the fees, or w/ the exchange -- or both . . .
May 2nd, 2010, 10:01 AM
#22
IMO, after we spend thousands charging air tickets, hotels or apartments, and dinners for our trip, a few dollars more for convenience just doesn't matter----I can spend that at a mall or a grocery store in the blink of an eye. It maybe cost us $70 or so more to change Euros at home.
Having Euros for cabs and small purchases available and not running around figuring when to get cash is just a convenience we are willing to pay for.
Now I do agree that if you are going to pay cash for hotels that would be too much to carry around. But a few hundred in my pocket doesn't bother me. I also agree with a Capitol One card and we have now changed to that format for most purchases.
BTW, when my purse was stolen, I had my credit cards and cash in my pocket. They got a lipstick, comb, a box of mints, a package of Kleenex, and unfortunately 25 Euros that I got in change from a purchase and neglected to put in my pocket.
Europe is expensive to get to and to stay and eat in. Knowing that we still return ever year because it is a fabulous experience. We give up many other things to be able to do so. We work hard for our money and just choose to spend it in this way instead of expensive cars, boats, bigger houses, etc.
Sorry if I've offended anyone.
Having Euros for cabs and small purchases available and not running around figuring when to get cash is just a convenience we are willing to pay for.
Now I do agree that if you are going to pay cash for hotels that would be too much to carry around. But a few hundred in my pocket doesn't bother me. I also agree with a Capitol One card and we have now changed to that format for most purchases.
BTW, when my purse was stolen, I had my credit cards and cash in my pocket. They got a lipstick, comb, a box of mints, a package of Kleenex, and unfortunately 25 Euros that I got in change from a purchase and neglected to put in my pocket.
Europe is expensive to get to and to stay and eat in. Knowing that we still return ever year because it is a fabulous experience. We give up many other things to be able to do so. We work hard for our money and just choose to spend it in this way instead of expensive cars, boats, bigger houses, etc.
Sorry if I've offended anyone.
May 2nd, 2010, 10:30 AM
#25
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I don't think room safes are all that safe. Read several stories about robberies. Better the hotel safe. And not all rooms have room safes and definitely not apartments.
TPAYT, your way works for you, but it does cost you.
Nancy, you can get your first cash upon arrival in London or Paris. There are ATMs near the arrivals area in the airport. And probably at Gare de Nord and St. Pancras also if you arrive by Eurostar.
My backup cash option, if I lose my 2 debit cards, is cash from a credit card. But you start paying interest from withdrawal so this is a last ditch option only.
TPAYT, your way works for you, but it does cost you.
Nancy, you can get your first cash upon arrival in London or Paris. There are ATMs near the arrivals area in the airport. And probably at Gare de Nord and St. Pancras also if you arrive by Eurostar.
My backup cash option, if I lose my 2 debit cards, is cash from a credit card. But you start paying interest from withdrawal so this is a last ditch option only.
May 2nd, 2010, 10:36 AM
#27
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I don't care if the bank charges a 3% fee as they are in business to make money. Also, while on holiday I don't sweat the small stuff, afterall you spend tons on planes, hotels and meals so why be concerned over a few dollers on a ATM fee.
May 2nd, 2010, 11:07 AM
#28
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It's not a matter of sweating the small stuff. If you can get a cheaper fee for little effort, do it. If TPAYT spends an extra $70 for exchange, that's a fairly nice dinner or a half tank of petrol at UK prices (HAHA).
Last check, the strange new machines known as ATMs have been available in Europe since . . . the 1990s at least.
Last check, the strange new machines known as ATMs have been available in Europe since . . . the 1990s at least.
May 2nd, 2010, 01:44 PM
#29
I personally think it is more trouble to get £/€ from the bank - even if it didn't cost extra I wouldn't do that. Years and years ago -- I did get currency from my bank, or from my Dad's since their fees were less.
But I haven't done that in more than 10 years. If one really wants to have cash in their pocket before they land -- my goodness, you have to check in so early and kill soooooo much time in the departure lounge. Take a couple of minutes to buy €50 from the bureau de change.
As some of us have said - it works for you and that's fine. I don't care how anyone spends their time/money. But I honestly think it is a bad idea to recommend it to neophytes who may not realize how easy it is to get cash just about anywhere.
But I haven't done that in more than 10 years. If one really wants to have cash in their pocket before they land -- my goodness, you have to check in so early and kill soooooo much time in the departure lounge. Take a couple of minutes to buy €50 from the bureau de change.
As some of us have said - it works for you and that's fine. I don't care how anyone spends their time/money. But I honestly think it is a bad idea to recommend it to neophytes who may not realize how easy it is to get cash just about anywhere.
May 2nd, 2010, 01:52 PM
#30
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<<< Last check, the strange new machines known as ATMs have been available in Europe since . . . the 1990s at least. >>>
The WORLD'S first ATM was installed in the UK in 1967 - Reg Varney made the first withdrawal.
The WORLD'S first ATM was installed in the UK in 1967 - Reg Varney made the first withdrawal.
May 2nd, 2010, 03:00 PM
#33
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Reg Varney, now there's a name from the past (but I think his shows are still on BBC radio 7). I had a Natwest cash card in 1972 which gave £10, but always kept the card, it was posted back to you a few days later. I used to work for the bank & did this. If you were in greater need than £10, you could have extra cards (if the bank allowed you to). There was a 6 digit pin, & for some reason I still remember mine.
May 3rd, 2010, 04:24 AM
#34
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You will get the best overall deal using credit cards for purchases and using your bank ATM card to withdraw cash from ATMs. This is true even if your bank is very greedy and charges for ATM withdrawals at other bank's machines and adds a foreign transaction percentage. It will still be better for you (cost you less) than exchanging cash or using TCs.
Ideal is to get a banking account that charges nothing for ATM use worldwide--there are many such banks and credit unions in the USA. And get a credit card that doesn't charge any foreign transaction percentage in addition to that normally charged by the VISA and MC networks.
When you do use your credit card, tell them you want to be charged in the local currency NOT in dollars or you'll get a bad exchange rate set by the merchant and their own bank.
Ideal is to get a banking account that charges nothing for ATM use worldwide--there are many such banks and credit unions in the USA. And get a credit card that doesn't charge any foreign transaction percentage in addition to that normally charged by the VISA and MC networks.
When you do use your credit card, tell them you want to be charged in the local currency NOT in dollars or you'll get a bad exchange rate set by the merchant and their own bank.
May 11th, 2010, 06:34 AM
#37
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Ricardo, not all merchants have DCC as an option. If they do, they are supposed to ask you first whether you want to be charged in the local currency or in dollars (or whatever your home country currency is).
If they do ask, insist on being charged in the local currency, NOT your own currency.
Unfortunately, many don't bother to ask and just charge you in your home country currency, at an exchange rate that is very favorable to them and unfavorable to you.
If they do this without asking, you are supposed to tell them to cancel the transaction and charge you in the local currency. That's when the fun begins. They start to fight for their extra profit.
They'll tell you that the DCC is more convenient for you (it isn't). They will lie and tell you that their DCC exchange rate is better than the VISA/MC network rate (it isn't). They will lie and tell you that it is impossible to cancel a charge and redo it--of course they can cancel it just by punching a few buttons.
Usually, you'll just give up because it's too much of a hassle and takes too much of your time to fight with them. Also they often are holding on to both your credit card and your merchandise while the "discussion" goes on. Your credit card has a phone number on the back that you can call collect--but as a practical matter, it just isn't very practical or easy to make a collect call on the spot.
I filed two complaints with VISA after returning from Spain last month--VISA has withheld payment to the merchants while they investigate.
If they do ask, insist on being charged in the local currency, NOT your own currency.
Unfortunately, many don't bother to ask and just charge you in your home country currency, at an exchange rate that is very favorable to them and unfavorable to you.
If they do this without asking, you are supposed to tell them to cancel the transaction and charge you in the local currency. That's when the fun begins. They start to fight for their extra profit.
They'll tell you that the DCC is more convenient for you (it isn't). They will lie and tell you that their DCC exchange rate is better than the VISA/MC network rate (it isn't). They will lie and tell you that it is impossible to cancel a charge and redo it--of course they can cancel it just by punching a few buttons.
Usually, you'll just give up because it's too much of a hassle and takes too much of your time to fight with them. Also they often are holding on to both your credit card and your merchandise while the "discussion" goes on. Your credit card has a phone number on the back that you can call collect--but as a practical matter, it just isn't very practical or easy to make a collect call on the spot.
I filed two complaints with VISA after returning from Spain last month--VISA has withheld payment to the merchants while they investigate.
May 11th, 2010, 07:03 AM
#39
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<<Unfortunately, many don't bother to ask and just charge you in your home country currency, at an exchange rate that is very favorable to them and unfavorable to you.>>
You can easily tell by the amount on the slip you're given to sign...
If it's not correct, refuse to sign and insist that the transaction be deleted and redone.
You can easily tell by the amount on the slip you're given to sign...
If it's not correct, refuse to sign and insist that the transaction be deleted and redone.
May 11th, 2010, 08:24 AM
#40
"<i>Please! Just load up savings account and tap ATM</i>"
better usually to load up one's <u>checking</u> account. Especially if you have checking and savings linked on the same card. In general, folks have checking as the primary acct and European ATMs usually don't let you choose an account. If your money is in saving and checking is the 'primary' you will be SOL . . . . .
better usually to load up one's <u>checking</u> account. Especially if you have checking and savings linked on the same card. In general, folks have checking as the primary acct and European ATMs usually don't let you choose an account. If your money is in saving and checking is the 'primary' you will be SOL . . . . .
