cash vs plastic

Old Dec 26th, 2011, 01:06 PM
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Received 0 Likes on 0 Posts wise leaving lots of cash in your apartment is EXTREMELY unwise.
qwovadis is offline  
Old Dec 26th, 2011, 03:42 PM
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Agree with all of the above that it is much better to get cash from ATMs as you need it and use credit cards.

To avoid the foreign fees, open a Capitol One credit card and a checking account with an ATM card (you can open both online). I have no affiliation with Cap One, I just love avoiding the 3% foreign transaction charge on my credit card purchases and eliminating the $5 per withdrawal foreign fee on my ATM transactions.

Have a great time in Florence!
Magster2005 is offline  
Old Dec 26th, 2011, 08:10 PM
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Banks don't give 'bogus' rates, they quote customer rates to make a profit, my bank being ~5%..and that is OK, they need to make a profit.

to calculate their profit margin,look in newspaper to get the international rate.
my bank is a large bank, so they would be getting near that rate. Unless XE is alo very large, they would pay more for euros, then need to add on a profit margin above that.

more for me to research
Michel_Paris is offline  
Old Dec 26th, 2011, 08:22 PM
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Agreed with all of the information above. We keep a Capital One account specifically for foreign charges, i.e. no exchange fee.

Also: before leaving the U.S., we get enough of the local currency to get us where we want to go, and perhaps for a meal. I remember arriving at Charles deGaulle one morning on a Sunday or Monday. All of the ATM's were out of cash, and the exchange businesses get a hefty fee and had very long lines. I was glad I had enough euros to take a cab to my hotel and work from there.

(Yes, I know there are cheaper airport shuttles, but I treat myself to a cab when I'm jetlagged.)

The point: perhaps convert enough currency to get you settled in your destination, but I would not convert a lot in advance.
madameX is offline  
Old Dec 26th, 2011, 08:57 PM
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>>>>Michel_Paris on Dec 26, 11 at 4:26pm
I must ask for more info. The'newspaper rate' is for very large transactions. Since banks are not charities, why would they run a business that loses them money? 3/10 of a percent makes no one money
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