Hello all! I have read a couple of things on this, I'm looking for advice:

I know in my travels (3 countries, Swiss frnac and euros) to use credit cards as often as possible. For some local cash I have 2 questions:

1 - Is it still best to exchange the small amount I need in country? ...or here in US before I leave?

2 - Used to be travellers check got the best exchange rate in country, but I see alot written about using ATM's...should I bring T checks, cash or use ATM once I'm there?

Thanks!

There is no question that you should use the ATM when you get there. Exchanging cash or TC's for local currency is a thing of the past, as this is the most expensive way to get local currency. If you want to take some US$ or TC's in US$ as a back-up, that's OK, but odds are slim that you will need it.

Good advice from PM

Get some Euros at the airport before you depart, only if it will make you feel warm & fuzzy. You will get a bad exchange rate, so don't get a lot. I usually wait to hit an ATM once I arrive in Europe.

Traveler's checks are a thing of the past. I would bring maybe $100.00 or so to use in case of emergency. Use ATMs to get your spending cash, and use your credit card for all other expenditures.

One other thing...is there a problem using debit cards in those ATM's or as payment for hotels, etc?

Actually debit cards are better in the ATMs. Many posters, myself included, found that regular ATM cards did not work in Belgium, but there was no problem with debit cards in the ATM.

As far as payment goes, debit cards are accepted anywhere credit cards are accepted.

In theory, if an ATM card has the right decals it should work the same as a debit card; the thing is that many ATM's have switched to the visa network and don't take cirrus anymore so ATM cards with a cirrus decal that are not visa debit cards might have a problem.

Now for the other side, I simply do not think it is very wise to use a debit card for purchases in lieu of a credit card and I will tell you why.

Using a debit card for a purchase might seem exactly the same as using a credit card for a purchase but instead of creating a debit on your credit card account when it clears the system, if it is a debit card it immediately creates a withdrawal from the account, usually but not always a checking account, to which the card is tied in. Okay so what's so bad with that I hear you say....

Well theft of credit card numbers is very rampant in Europe so if the waiter, for example, has one of those little card readers or simply memorizes the number and sells it to the vermin running these credit card theft rings, they simply clone the card and run up big charges until the authorization stop coming and if you have a lot of money in your checking account, it disappears which may cause some of your automatic payments to turn to rubber.

Now when this happens with a credit card, it's a bit disquieting but no big deal...a couple of phone calls and a few affadavits with the credit card company and the charges are removed from your account, a new credit card is issued and no big headaches for you other than switching the numbers of the automatic payments you tie in to your credit cards....with a debit card you are out the money for a while (yes you will eventually, in all likelihood, get it back) but until you do, you feel kind of naked if you know what I mean.

I just don't see the advantage of using a debit card, with a credit card you can get as much as a 7 week float on the money before you have to pay for it with one check; what possible advangtage is it to have them take the money out of your account on the spot?

Hardly a week goes by without this coming up on the forum...

There are still people around unwilling to acknowledge 21st century technology or who continue to have a degree of paranoia.

In this day and age, there is not the slightest problem in arriving at an international airport with no local currency, they all have convenient ATM's in this day and age and ATM's are by far the best way to access currency in the 21st century, the exchange rates for cash are 10 to 15% higher depending on where you are foolish enough to do that.

Now I acknowledge there are some people who feel more comfortable with having local currency in their pockets when they arrive as they are too tired after a long trans continental flight to deal with an ATM (or a cash exchange) on arrival and want to get the hell out of the airport as quickly as possible so they are willing to throw away their hard earned money for that peace of mind. If you are one of those people, simply exchange a small amount at the airport of departure and although it is throwing money away, you will have local currency to quickly get out of the airport or have a cup of coffee in the airport but really it's not necessary.

As far as every day expenses, my philospphy is to use credit cards wherever or whenever there is a credit card decal on the window for every purchase no matter how small...the RATP in Paris, for example, now takes credit cards for purchases as small as €1....I can go a couple of days on a single €30 ATM withdrawal. Don't understand why that is not the M.O. of everybody travelling in the 21st century.

Toyz123 - Thanks for the tip and advice, sounds like credit is the way to for the most part...having somewhat limited credit available I may use a debit card, but perhaps only for some cash at the ATM's - it has the visa logo, so I should be good there.

If it's just a small amount you need, have some USD and change at the arrival airport. For instance, I do this at Heathrow because I'm not staying in UK but need a little airport money. I have also used an ATM for this same situation.

In Switzerland I simply go to any bank ATM with my normal debit card and withdraw CHF. Maybe I'm lucky but I never really thought about it nor had a problem.

I will be traveling to Germany, France and Switzerland this summer. I'm at the stage now where I'm beginning to think of how to use my funds. My husband and I do not use credit cards .. only in extreme emergencies do we use them. We both have a couple that we are 'paying off' and which don't necessarily have the best interest rates. To make a long story short ... we planned on using our debit cards for everything. Our debit cards are with a credit union and we are able to withdrawal $1000USD daily.

I found xyz123's posts interesting in that I feel as though I should take a credit card for hotel rooms and such .. but as I said above, we really don't have any to use and the ones we do have some room on do have high interest rates. I could use my debit card from the credit union and not pay any fees when withdrawing from ATM/paying for hotel rooms (at least from the credit union side). Other than safety reasons and not having my cash taken out of my account so fast .. why else would I use a credit card?

No reason to use a credit card in your situation.

You can use an ATM debit card and withdraw euro for all your purchases, including a hotel bill.

I would physically have a second card for that same account since you'll be counting on it so heavily (should it get eaten by a machine or deactivated or something strange like that).

Also some machines might have their own withdrawl limits so you could not get at $1000USD worth all at once.

If I was traveling with no credit cards, I would want some kind of alternate method (like US cash to exchange or travelers checks).

To clarify, my post assumes your hotel rooms are in the 100-200e/night category not 5*'s.

Also with two people, you can split up the funds and/or each have separate ways to get at it, might be a good idea.