Nathan

Anyone know what exchange for Canadian Dollars in Erope is like? Are banks readily accepting Canadian Dollars? Planning to be in England, Belgium, Netherlands and possibly France for ten days from July 19 to August 10 on Honeymoon.

Thierry Kumps

You should have no problem exchanging your Canadian dollars for the local currency. Banks, exchange agents, etc. will accept them without problems.

Thierry Kumps

Mike

Hello fellow Canuck!

I have travelled to Europe with Canadian $ traveller's cheques (Amex) with no problem. The stories we hear about the Canadian dollar losing a lot of its value is relative to the US $, versus European currencies we have done better. The problem with buying US $ traveller's cheques is you pay an inter-currency exchange rate there, and another one in Europe. The only thought here is that the US dollar doesn't seem likely to lose much value while the Cdn$ may...
Also, all banks / bureaux de change in europe take cnd and US $, but you may get a proportionally bit better rate on the US because more demand for it.
I have done both US and CDN cheques. If I had to choose, slight edge to us$. I also tried my bank card last year in England, but with no success. COmments in this forum say that it works and is common. This might be a better way to access funds

Good luck....

Lanny

Greetings from Ottawa. I have been to Europe more than 20 times in the past 10 years and am delighted to report that for thepast 5 I have relied totally on my Interac card and a MC or Visa card to make travel and the exchange rate in Europe as painless as possible. Do not convert money in to US funds to reconvert it into the European currency of your choice. It will cost you on both exchanges. Also, be wary of bringing anything in travellers cheques as most European countries have banking systems which penalize the person carrying travellers cheques by making them pay a premium to cash them. A pox on all their (banking) houses!. On the other hand, a good bank card or a good Visa card will give you the best bank rate available on the day for your access to instant cash. Check with your bank and see which European access card system you should visit to withdraw money directly from your account. Also, if your visa or mc doesn't already allow you to access cash withdrawals, arrange for it to do so. The direct withdrawal of cash into the currency of necessity from your Canadian account(s) is the cheapest and easiest way to go. I have done this from England to the Balkans with little or no problem except in Eastern Europe where the computers seem to operate at whimsy. Of course if you are using credit cards discipline is necessary -- I clear my card before I go, and limit my use in terms of withdrawal to what I know I will not have to pay interest on because I hate to pay anyone interest. European countries are quite expensive, and you have selected some of the most costly to visit (I love England and weep every time I think of something that would cost me a dollar in Canada running $2.50 in England, the approximate current exchange rate -- and you can assume a dollar is equivalent to a pound in England, and the Netherlands is generally more expensive than England), but the beating you take on higher prices is certainly no worse than the beating you take exchanging Cdn. dollars into US dollars at present. My recommendation to Canadians seeking winter holidays this year is to go to Europe -- especially Spain and Italy where the currencies are weak against the Cdn. dollar and bang for the buck can still be had-- and forgoe anywhere in the US. Generally in Europe this year the Canadian dollar is still stronger than the European currencies so value is still to be had. I hope this holds as I will be spending time in France come August!

Good luck and if you have more questions, give me a shout.

Lanny

Jen Z

I found my bank card absolutely useless in Europe in 1995. I was lucky I got travellers cheques, because the woman at the bank had me convinced I could use my card and if I'd gone with only that I would have been screwed. Could be better now, but I think often you should check with the bank...I found out later that at the time you had to change your card for international use, though it worked in the states. I've heard, too, that you need to have a PIN with only four numbers, since many machines there only let you enter that many. One thing I did was put extra credit on my credit card, and used it for things over and above my daily budget, like ferries and stuff like that. I was gone for two months but didn't have to worry about racking up interest on what I'd spent because I hadn't dipped into my usual credit amount yet. And credit cards often give you the best exchange rate. You will have no problem cashing Canadian traveller's cheques; just make sure you go where you get a good rate and aren't charged a fee. Go with the advice already here and don't change to American funds first because you will lose in the exchange twice instead of just once. I know it's crappy that the Canadian dollar is doing so poorly (I'm living in the States with my husband who goes to school here, and our loans are in Canadian...we lose twice, once in the exchange and again with the rising interest rates...it's horrible! Not to mention the fact that we aren't allowed to work here...but I digress). Europe is expensive no matter how you look at it, though, so don't sweat the exchange too much if you can help it!!!

Arizona

As a retired banker, I agree with most of the above. Use your credit card whenever possible; take travelers' checks solely as an emergency backup. The increasing number of ATM machines will astonish you with their convenience and low fees as compared with Tchex. After all, if you wish to save money, the place to stay is...home. Travel and have fun; leave the details to the worry-warts of this world. In a century, you will never know the difference.

brian boyle

I have just returned from a three week trip to England, and I did not take travelers cheques. I did take 800 pounds in cash and used Visa when necessary. TC's are an uncecessary burden, and an expensive one at that. Take cash and hide it in a money belt. That is what we did and it was very convenient.