I was just wondering if it would be better to get Euros in the US before going to Ireland or get them in Ireland.

Get them there at an ATM and use your credit card as often as possible for purchases that do not require cash.

This question comes up a lot and if you look at any thread regarding this issue, you will find that all seasoned travelers in today's world will get euros from ATMs in Europe. When you use the ATM there, remember that you are requesting that amount of money in euros, not US$.

I don't think the following is necessary, but if it will give you some peace of mind, then get about $50-$100 worth of euros before leaving. But don't get any more than that, because the exchange they will give you in the US stinks compared to what you will get from the ATM in Europe.

I agree. Get them when you get to Ireland, using the ATM machines.

I was in Ireland last May and discovered that some retail establishments will charge/convert your purchases to $$$. Reject this. It will cost you an additional 3% in fees. Insist in them charging your purchases in Euros. That way you will only have the 1% conversion fee.

They try to convince you that they are doing you a favor, but in fact, it will cost you if you let them do the Euro/Dollar conversion on your credit card purchases.

It happened to me, so I am passing it on to you. Do not let them do the conversion. Have them charge you in Euros, not Dollars. You'll make out much better.

Thanks everyone for your advice. The ATM it is.

The one percent conversion is becoming a thing of the past. As fast as they can, the major banks are telling you your foreign currency transactions on their card will have at least a 3 percent transaction fee. It was nice while it lasted but who are we to deny the banks a chance to get easy money?

Here's a quote from the Washington Post from yesterday, 3/13/05:
• When converting overseas charges into dollars, Visa uses the wholesale exchange rate plus a 1 percent conversion fee. MasterCard and American Express add 2 percent.

• The companies that issue Visa and MasterCard may add another fee, typically 1 to 3 percent. (American Express issues its own cards.)

• Issuing companies that don't add an extra fee: Capital One, MBNA and numerous smaller banks and credit unions.

• Among issuing companies that do charge an extra fee: Bank of America, Citibank, Chase Manhattan and Wells Fargo.

My credit union charges the basic 1%, no additional fee. It is so easy and convenient to get cash from the ATM, I wouldn't recommend getting Euros in advance.

And here's another idea. If you happen to have $20 or $30 US with you, and in the very rare event that no ATMs in Ireland work on your arrival (again I repeat -- very rare event) then just exchange the currency you have for the euros at one of the many exchange booths. It still won't be any more expensive than getting them in advance, and it makes more sense to spend that extra money only if it becomes an emergency. Otherwise save a few bucks for an extra Guinness by using the ATMs instead of getting euro in advance.

I read that item in the Wash Post yesterday because that's my home paper. I don't think they are accurate about Mastercard having a basic 2 pct fee -- I've never heard of that before, and I just talked to my MC owner last week about this subject and they said it was 1 pct, same as VISA.

I think the Post has lots of good stuff in their Travel section but they do make mistakes about this kind of thing sometime, and I think this is one. (also, I think you aren't supposed to be copy/pasting material from elsewhere that is copyrighted if you read the Fodors terms).

As of 6 months ago, my M/C only charged the 1% conversion fee. I did the math on a couple of purchases from last September, and that seemed to be the case.

I have a VISA through a local credit union and a VISA Debit card from them as well. In my most recent monthly station was this little handout:
"Change to process for posting foreign transactions on billing stements
Currently, when a purchase is made in a foreign country, the transaction is converted to US dollars and adjusted by a 1% currency conversion fee... appears as a single transaction on your billing statement.
Effective April 2, 2005, the currency conversion fee will be discontinued. Instead, a 1% International Transaction Fee will be assessed on all transactions where the merchant country differs from the country of the card issuer. The converted transaction amount will be shown separately from the ITF on your Billing statement. This fee will be assessed on ALL INTERNATIONAL PURCHASES, CREDIT VOUCHERS AND CASH DISBURSEMENTS (emphasis mine)
CHANGE TO FOREIGN TRANSACTION CURRENCY EXCHANGE RATE
Effective April 2, 2005, the exchange rate for transactions in a foreign currency will be a rate SELECTED BY VISA from the RANGE of rates available in wholesale currency markets for the applicable central processing date, which rate MAY VARY from that which Visa itself receives, or the government mandated rate in effect for the applicable central processing date PLUS the 1% International Processing Fee (Emphasis STILL mine)."

Doesn't sound good, folks.

"Effective April 2, 2005, the exchange rate for transactions in a foreign currency will be a rate SELECTED BY VISA from the RANGE of rates available in wholesale currency markets for the applicable central processing date, which rate MAY VARY from that which Visa itself receives."


Picture it folks -- group of executives sitting in a conference room looking at international bank rates. "Oh, look everybody. Here's a firm that charges 6 percent over the usual international bank rate. Let's use that today for our figures, even though we can still get 1%. That's a good way to make an extra 5% on all the foreign credit card purchases we process today. Aren't you all glad we did that disclaimer that we can choose a rate even though it may be different from the one we actually get?"

I always take $150 in U.S. Travelers Checks to Europe with the plan that I WILL NOT use them. I use my debit card instead. Rarely, the machines will be down and you need some cash. However, the credit card works well, too.

The above are direct quotes from the flyer that came in my most recent VISA billing. I can only assume that MasterCard, et al, will follow suit as quickly as possible.

Wonder how they will treat the purchase of airline tickets on foreign airlines, like Aer Lingus and British Airways?? Will we have to go through sites like Travelocity, etc. to avoid the "Transaction Fee"?

Do you suppose the same will hold true for non-debit ATM cards (without a VISA or MC logo)?

Also have to wonder if the fee will be applied to deposit charges and 'hold'. The way I interpret the wording ("ALL TRANSACTIONS&quot we will likely be 'double charged', if we return a purchase and receive a 'credit' to our charge card! Adds a whole, new meaning to the caveat of "Let the Buyer Beware"!

One option, at least for travel this year, is to "opt out" of the changes. My Visa charge card recently sent me notice they will start charging 3% for charges made in foreign currencies this April. But there was a provision to opt out and continue to use the card at currrent rates until it expires. At that point, I guess I'll have to get a new card.

I'm not very savvy about these things so I'm a bit confused. For instance, I have an ATM card but not a debit card. My ATM card does not have the Visa logo. A representative of my bank told me to get a debit card with the Visa logo to use in Ireland at ATMs so the service charges will be lower. I signed up and am waiting for the card. Does this make sense? I've never used a debit card before, and didn't even realize it worked in ATMs. (Please don't flame me for my ignorance).

Bucky, the ATM only card is to be used in ATM machines to access money from your checking account. The ATM VISA card is basically the same, except you can use the VISA portion of the card for purchases -- the funds are deducted from your checking account. The ATM card can only be used with a PIN. The ATM VISA card can be used without the PIN for purchases, but with the PIN for use in ATM machines.

The conversion fees on either one should be the same. The only caution of having the ATM VISA card, if you lost the card, someone could use it as a VISA card and wipe out your checking account while on travel.

I prefer to disable the VISA of my ATM VISA card when I go overseas, and use the card as an ATM card only -- Then use my credit card for purchases, etc.

Thanks, Budman. I was originally planning on using my Bank One ATM card for getting cash and using my credit card for most purchases. But the guy at the bank said because my ATM card does not have the Visa logo on it, there will be more charges every time I use it at an ATM machine.

So that's why he suggested I get a Visa debit card, which I can use at ATM machines for cash with less service charges. I had read that some B and Bs will not take credit cards, only cash, and I was worried I had a daily limit on withdrawals from my ATM. With a debit card, I don't think there is a limit to how much cash can be withdrawn each day, although he didn't seem to know the answer to that so I was planning to call the 800 number when the new card arrives.

You raise a good point about theft or loss, though. I guess as long as you report it quickly they would freeze your account.

Bucky, I would think that your bank would charge the same fee whether it were an ATM card or a VISA ATM card. The ATM's in Europe do not charge fees, so any fees assessed would be by your bank (other than the 1% conversion fee).

Go ahead and get the ATM card with the VISA logo and have them disable the VISA portion of the card if that's what it'll take to get the "less service charge" from the bank.

You need to check with the bank concerning your ATM daily limit. I believe there is a limit. My bank said that my limit was $500 per day, and my wife's limit was $500 per day (different card numbers, but same checking account).

I would check all your options, inquire about all the fees, etc. before you travel.

If an "Automatic Teller Machine machine" is on the same network as your bank (such as MasterCard's Cirrus), network fees for cash withdrawals should be nil. If they're on different networks, there's probably a charge. Some banks, but not many, rebate off-network fees.

If either a debit or ATM card falls into the wrong hands, a thief can "clean out your checking account" - except s/he can't. In both cases, your Cardholder Agreement protects you from fraudulent use of your card, in most cases right down to $0.

Robespierre,

<If either a debit or ATM card falls into the wrong hands, a thief can "clean out your checking account" - except s/he can't. >

Wrong!! You don't need a pin for a VISA debit card. If lost, someone could make charges that could wipe out your checking account while you are on vacation. Tough situation when you are in Europe and your bank is in the States. What if you pay automatic bills out of that checking account and there is no money in there when the debit is to take place?

Yes, you will get that money back eventually, but it will be a hassle.

If you lose your credit card, you do not lose any "cash flow" and unauthorized charges can be taken care of when you return from vacation.

I don't use a Visa debit card even here in the States. I've been double charged by merchants, and it depletes my "available" balance until the merchant is notified and puts it back into my account. This sometimes takes several days, and hours of my telephone calls. It's a pain in the a$$.