cash vs plastic

Old Dec 26th, 2011, 01:06 PM
  #21  
 
Join Date: Jun 2008
Posts: 12,269
Likes: 0
Received 0 Likes on 0 Posts
insuremytrip.com wise leaving lots of cash in your apartment is EXTREMELY unwise.
qwovadis is offline  
Old Dec 26th, 2011, 03:42 PM
  #22  
 
Join Date: May 2009
Posts: 396
Likes: 0
Received 0 Likes on 0 Posts
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
  #23  
 
Join Date: Feb 2003
Posts: 7,525
Likes: 0
Received 0 Likes on 0 Posts
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
  #24  
 
Join Date: Aug 2003
Posts: 423
Likes: 0
Received 0 Likes on 0 Posts
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
  #25  
 
Join Date: Oct 2003
Posts: 35,107
Likes: 0
Received 0 Likes on 0 Posts
>>>>Michel_Paris on Dec 26, 11 at 4:26pm
Micheal,
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
kybourbon is online now  
Related Topics
Thread
Original Poster
Forum
Replies
Last Post
jtb52
Europe
16
Aug 18th, 2016 12:46 AM
Shadee_Amundson
Travel Tips & Trip Ideas
4
Jul 20th, 2012 09:13 AM
sjde53
Europe
4
Feb 22nd, 2006 08:46 AM
RichardJ
Europe
14
Sep 15th, 2005 06:51 AM
lillykinloo
Europe
20
Feb 27th, 2005 08:18 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Do Not Sell My Personal Information


All times are GMT -8. The time now is 05:25 PM.