Cash or Debit Cards?
 

Local currency can be bought for a 2% premium of the 'daily rate'. Cash from the ATM costs a machine fee and a 1% conversion fee. The conversion is done at less than the 'daily rate' . Which is less costly?

Whenever we've used ATMs in Europe, we've received the daily rate plus the 1%, but with no machine fee at all.

Not sure where to get cash exchange with only a 2% premium--any cash kiosks we've seen have been worse than that. I guess if you shopped around you could find that rate; I've just never seen it.

Hi G,

>Local currency can be bought for a 2% premium of the 'daily rate'.<

Where? From whom?

We have never found less than a 6% premium.

((I))

I have checked my ATM withdrawals and I have been charged 0.702% of the daily rate, according to http://www.xe.com/ccc/.

I've purchased euros at my home bank for ~2% above the listed rate.

I've bought euros in Paris at an exchange bureau I utilize in MOntparnasse for only 2 pct over the interbank rate.