Narnya

Going to convert US Dollars to Euros. What's the way to get the best exchange rate? AAA offers foreign currency, but from my research their rate is about $0.10 higher than the "going rate."

Michael

The best rate is to use your ATM card once in Europe. If you need to transfer funds before that, try:

http://www.xe.com/fx/

Narnya

I'm nervous about using my ATM card. Heck, I'm nervous just to carry it arround (pickpockets and the like). Do they have common ATM access? My primrary card doesn't even work at all US ATMs! What about those prepaid debit cards with Visa logos? Are those any better than a regular credit card?

ira

Dear N,

You are nervous about your ATM card, but willing to walk around with cash?

Michael is correct.

Charge everything you can. Get walking around money from ATMs.

Do not bother with prepaid cards, traveler's checks, US dollars or any other gimcracks.

Enjoy your visit.

alanRow

When finding out how much your bank will charge for foreign withdrawals ask them if there are any partner banks you could use (eg BoA customers can use Barclays Bank ATMs free of charge in the UK rather than paying $5 per withdrawal.

While you are doing that tell them that you are going abroad and get the OVERSEAS contact number just in case they forget.

Oh and ensure your PIN is a 4 digit number - no letters, not 5 digits or 6 digits

janisj

- Buy euro in the States? <b>NO</b> - except for maybe a few dollars worth just for &quot;seed money&quot; - even that is not necessary.

- Prepaid debit card? - <b>NO</b> - really, really expensive w/ so many fees you will lose more than 10%

- Use an ATM card? - <b>absolutely YES</b>

BTW - I'm w/ ira. You are afraid of pickpockets getting your ATM card which is protected by a PIN - but aren't afraid of pickpockets getting hundreds of $/&euro; cash. weird.

StCirq

AAA is a ripoff.

Prepaid charge cards are a ripoff.

ATMS are all OVER the place in Europe.

If your ATM card sometimes doesn't always work in the USA, go to your bank and find out why. Have them verify it will work in Europe (though, frankly, half the time they haven't a clue about ATMs overseas). Get used to using it now.

tomassocroccante

Absolutely. One of the great conveniences of traveling today (when there sometimes seems to be a conspiracy to create annoyances for travelers) is the availability of ready cash in every small town in Europe = and most everywhere else. Access to your own bank halfway around the world ... priceless.

If worried at all, consider asking your bank to be sure your card can be used ONLY for withdrawals, and of course ONLY with the pin (if your card has the debit/credit option). Then be sure no one observes you entering your pin, which we all are pretty careful about by this time.

P_M

Narnya, the first time I used the ATM overseas I was a bit nervous too. But once you've tried it, you will wonder how we ever survivied without this service. The ATM is cheaper and much more convenient than any other means of exchange. Please give it a try, you won't be sorry. As mentioned above, do notify your bank in advance and ask about fees or partnerships in the countries you are visiting.

Narnya

Cash: Well, I'm not a bank, so it's not like I'd be walking around with Euros falling out of my pockets. I do want a decent amount of money to start out with -- to get me through my pitstop and off to my main destinations. I do plan on using my credit card for major purchases (lodging, etc.). Now, to make sure I'm on board with what everyone is saying -- by ATM are you referring to straight ATM cards or debit cards? Is a Visa logo (or like company) necessary?

Lastly, I apologize if this seems a naive question. I've traveled to Europe a few times before (as a poor student)... it's just that this time I'm splurging on more things that may require cash.

Michael

If you are &quot;splurging&quot;, chances are that you can use your credit card for the purchase. ATM card or debit card, one and the same; but I prefer not to use the debit aspect for any purchases.

You don't need more than 100&euro; or British Pounds before reaching a bank. In fact, all major airports have ATMs.

P_M

ATM cards will usually work but it's better to use a debit card. I learned when I was in Belgium that ATM cards and debit cards are NOT the same. The ATMs in Belgium will only take debit cards and not ATM cards. (NeoPatrick had the same experience) Remember when you are making a withdrawal there, you are getting &euro;s, not dollars. In other words, when you enter a withdrawal amount such as &quot;100,&quot; you are asking for &euro;100, not $100.

nytraveler

Credit cards and ATM for cash are the only things that make financial sense. EVerything ele you're paying fees and/or getting terrible rates of exchange.

If your ATM card sometimes doesn;t work here I wouldn't risk it in europe. Is it from a major bank - or is it from some obscure bank or credit union that't not a member of the major networks.

If the former, there something wrong with the card and you need to go to the bank and get a new one. If the latter, you're likely to have even more of a problem in europe. And in that case I would set up a checking account and ATM with a major bank that is part of the major international networks.

altamiro

&gt;Oh and ensure your PIN is a 4 digit number - no letters, not 5 digits or 6 digits

Not necessary. 5 and 6 digit PIN works anywhere. Just make sure you remember the numbers, not letters

P_M

altamiro, have you used a 5 or 6 digit PIN in Europe?

dperry

In an effort to avoid a calamity, I informed my bank of my dates of travel and which countries I will be visiting. I have also arranged with my Bank (B of A) to temporarily raise my daily withdrawl limit during the dates of my travels.

NeoPatrick

dperry, good luck. I also advised BofA of our intinerary -- doing it twice -- once for each of our separate accounts, yet they closed them anyway and I had to call -- very difficult as you can't get a person except during banking hours back home.

And although I raised our rate to $1000 for each of us on our separate accounts, they cut us off at $600 per day between the two of us. Later they said the $1000 would only count in the US, that $600 was an overseas limit (again, why couldn't they tell us that in advance?). What's more because either of us can access the other's account, they treated them like one account. When one account reached a limit, they closed both. And then another time they closed because they thought our withdrawing 400 euros for each of three days in a row looked suspicious and excessive. We were getting cash to pay for an apartment. Call BofA the &quot;nanny bank&quot; now -- telling you how much you should be spending on your vacation.

janisj

re the 4 digit PIN thing - years ago you had to use a 4 digit PIN. But for several years now, 5 and 6 digits work.

But they do have to be numeric only since the pads in Europe only have numbers/no letters. If your PIN is a word you can still use it though - just be sure to &quot;translate&quot; it into the number equlivilent using the keypad next time you use an ATM at home.