Chris

Hello travelers! I'm wondering if I need to get foreign currency from my bank prior to leaving or if simple Travelers Checks, ATM Card and VISA Credit card will suffice. I'm flying into Brussels to meet my friend where we'll be for 1 day only. Then, we take a night train to Switzerland, and on to Austria and Germany for the rest of the trip. The bank charges a $10 fee to order the foreign currency which isn't alot, of course, but I don't want to get it if it isn't necessary. My friend will be getting us each $200 worth of DM(German Marks)for the trip with no fees through the military. <BR>Also, I plan to use my credit cards as much as possible and ATM's for cash, but want to be covered in case neither are available, so I'll carry some Travelers Checks. How much should I take given my agenda to use credit cards and ATMS wherever possible? Thanks so much for your help!

Bly

Chris - you can get foreign currency at the airport when you arrive. The exchange rate won't be the greatest, but it'll probably be less than the $10 the bank is charging you. I would also take some cash US$ in small bills (a couple 20s, some 10s and bunch of 1s) - tips, portage, etc. I have been using travelers checks less and Atms and credit cards more. I have found Atms from the Greek Isles to Kenya. Its a pain and a waste to buy a $5 sandwich a train station with a $20 travelers check and get $15 worth of change in a currency of a county you're leaving. Let me know if you have any other questions. b. <BR>

John

Bly, I never bring any foreign currency with me from the US unless it is money left over from a previous trip. I always get $200US in local currency after arriving and before leaving the airport. In recent years, I probaly spend only about $50US in local currency and the rest I use against my hotel bill ,saving some for the airport when departing. I use my credit card for everything else ... car rental, hotel, restaurants, purchases, etc. There are no shortage of ATM machines in most places, but I rarely use them other than the one at the airport. You can take traveller checks as a backup which I usually do, also, but in recent years, I really haven't had the need to use them. I usually have around $200US with me to cover expenses on that end. In Italy, this past October, several merchants acepted US$ which was a first for me. And they acepted them at a very good exchange rate. <BR> <BR>As for how much in traveller's checks to take with you, how much do you think you need for expenses that would not be covered by a credit card? My travels in Italy and France are almost entirely covered by credit card. I'm not sure what the coverage is for Switzerland, Austria and Germany. When I lived in Germany (1993), I had a Eurocard issued through my local bank there which was a debit card. I seem to recall that credit cards were not as widely accepted at that time, but would expect they are today, six years later. I'm sure other posters can shed some light on that. <BR> <BR>You are only going to be in Belgium for one day. I would get some local currency for Belgium when you arrive Brussells. I am sure they have ATM's at the airport. I would suggest only getting whatever the cost of the hotel is. Then if you can't use your credit card for eating and whatever else that day, you will have local currency to pay for it. Whatever is left over, use against your hotel bill paying the balance with your credit card. If you don't need local currency during the day and evening, then use it all to pay your hotel. You could do the same for Switzerland and Austria.

Helena

Based on where you're going, I would not bother to get any foreign currency ahead of time, especially if there's a fee. There are ATMs at every airport, and the rates are usually better than what you'll get at a bank. I've now been in Europe (living) for almost six years, and have yet to use or have a traveller's check. The one time I had troubles was in Salzburg, where my bank ATM didn't work so I had to take a cash advance on my Visa card (not a good thing). Other than that, I've never had troubles (and I'm knocking on wood). Have fun!

elizabeth

For the sake of $10 I would suggest you arrive with local currency. <BR> <BR>ATMs can go down; currency exchange counters can be closed or really busy, and what if your friend decides you'll have money so he/she doesn't have to? <BR> <BR>

Chris

Thanks everybody for your insights! If I get my currency upon arrival at the airport, will I get a better exchange rate using an ATM or exchanging my US$ at an exchange counter? And, are ATMs/exchange counters readily available at train stations, as that's how we'll be arriving into the various countries after my flight? Also, does anyone know of a website where I can get the current exchange rates and print them out? Thanks again everybody!

John

Chris, to answer some of your questions. The ATM is currently cheaper to get local currency than exchanging US$ at a currency exchange counter and I suspect it will remain so even though banks as Mike points out are starting to charge for ATM services. However, we are not talking about a lot of money. It really isn't necessary to get a lot of local currency. As I pointed out as well as other posters, with the wide acceptance of credit cards, there isn't that much need for walking around with a lot of local currency in your pockets. Of course, the amount needed will vary from one person to another, but I get $200US worth and typically spend $50-$100 of that tops on a one week trip. <BR> <BR>The fee for using a credit card for a cash advance varies depending on the card issuer. I have credit cards that have fees ranging from 0 to $10 or more for each transaction. Typically there is a minimum fee such as $2 or around 2-3% of the amount requested which is $3 per $100. So for $200 you would pay $6. Not really that significant. With such low fees, convenience is a bigger factor which Mike also pointed out. Of course, if you want $2000, then the fee could be $60 which I really wouldn't want to pay. That's a meal or two. However, there is no need to get that much money when you are going to be using your credit cards for almost everything. <BR> <BR>Another thing concerning using credit cards for cash advances is that some people have posted that their card issuer starts charging them interest from the day they get the money. I have 30 days grace with my cards and I pay my balance when I get my bill. So I don't pay any interst charges. Again, I don't think the interest charge would really be that much for 30 days. <BR> <BR>I have found enough differences in credit card issuers that I would recommend you contacting your card issuers and asking them what their charges are. It's a good idea to talk to them anyway to find out about any limits on your cards for daily, weekly, monthly withdrawals or charges. You can also make sure you are ok with your Pin# and can ask them for ATM locations for the cities/countries you are planning traveling to. <BR> <BR>A few other pointers. I as well as other travellers have experienced trouble with some ATM machines .... eating your card or not accepting them, unactivated Pin#, unactivated card, etc. Talking to your card issuer as I recommended will prevent many of these problems. You could also lose your card or have it stolen. I now always travel with backup cards which I keep separate. I also keep a copy of my credit card account numbers, and telephone numbers to call in the US as well as in Europe in case of loss or theft separately. Checkout the VISA/MASTERCARD/AMERICAN EXPRESS web sites for telephone numbers for all over the world. I also keep copies of my passport, airline tickets and driver's license. Also good idea to clean out your wallet of everything you really don't need to bring to Europe. <BR>

Bly

Talk about a difference of opinion - re: exchange rates theres a site you can access through fodors.com main menu. You should check with your bank & cc for any extra fees for atm use. I still think US$ cash, ATMs, and a credit card are the way to go. Also, I'm assuming you have checked on some guide books for your trip - some countries have a departure fee, and some require in cash in local currencies (varies). You should check this out. b <BR>

Michèle

You can create and print a "Cheat Sheet" found at the following URL: http://www.oanda.com/converter/travel

Bill Irving

Everybody has their own preference, & it is whatever you find is best for you. I do like to purchase a small amount of foreign currency from the bank at home before I leave for vacation. I find it is convenient for me. I get about $100 worth for my wife & about $150 for me. I don't know about anybody else, but when I arrive at my destination after a long night flight, it is much easier if you have the money to go directly to get the transportation to the hotel, get cleaned up, rest abit, & maybe have a meal, & then go exchange for more local currency when I need it. Then I don't have to fight the lines & crowds already waiting to exchange to local currency at the airport or train station, where most people are tired & crabby, as I am after the flight, especially if you have kids along. True there is a charge to exchange at the bank, but if I have any paper foreign currency when I get home the bank will exchange it back without paying another fee. <BR>

lynn

Chris - <BR> <BR>Skip the traveller's checks. In my experience, they are a hassle and not many people take them execpt the bank. <BR> <BR>Carry cash and an ATM card and credit card for backup and emergencies. <BR> <BR>Have a great trip.

KT

If you do decide to get foreign currency before leaving, consider calling around to more than one bank, assuming you have a choice where you are. Ask about both the fee and the exchange rate. I like to bring a little currency with me (because it's worth it to me not to have to deal with lines and machines while staggering around with jetlag and luggage) and have found that even though my own bank has a reduced fee for account holders, I usually still get a better deal at one of its local rivals.

frank regan

Avoid ripoffs-some change bureaux advertise "no commission on buying foreign currency" - this is a scam, you are actually buying local currency & they will hit you with 10% commission! <BR> Either use a name you know (eg Thomas Cook) or use Visa/ATM or check the charges.

pauline

RE credit cards in Germany : <BR> <BR>They're still not very widely accepted. <BR>You'll be able to find places that take them especially tourist places, but you can't assume acceptance. Debit cards are still the much prefered way here. <BR> <BR>ATMS : loads of 'em. No problem there.