Ok gracejoan, I guess I didn't get all that. I realize you quoted the prices for getting 1000 euro, but since you started with saying the problem was that Wells Fargo limited you to spending $2000 I assumed you were doing that much from them and then more from the bank.

So, I guess I stand corrected that you got basically 2000 euros which cost you about $216.

And no I'm not arguing or saying there's anything wrong with what you're doing -- I agree, so long as it makes you happy.

Christina,
Re the AAA travel checks...they are 100% free if you use your AAA credit card. You charge them to it and when the statement comes in you pay it...IT IS NOT A CASH ADVANCE..I get them for every trip...when I return and having not used them, I deposit them and pay the statement when it arrives..in other words I have the completely free use of their $2500 or whatever for my trip emergency...did not have to use my own money!! What could be better than that? A person at AAA told me about it many years ago..get a AAA card and you can do the same....very handy

I can understand the way gracejoan handles her money and why she is comfortable with her method. My concern is for someone reading this post, who is not an experienced traveler...

I do think it is important for people to know the details given in subsequent posts from gracejoan to understand the total picture: her cash is divided and carried in different places, she also has an ATM card, travelers checks, and charge cards.

While I realize was meant to be helpful, it makes it sound like you put 3000 euro in your pocket and off you go.

Regarding the cash advance idea of TC's at AAA, it apparently depends on your credit card. I recently got a couple to send to the UK for an apartment rental deposit and the clerk advised me that they get all kinds of feedback. Some credit cards will show them as a regular purchase (pay your balance and it costs you nothing), but other credit cards do in fact record it as a cash advance -- and then you do pay an interest fee from the date you got them. I wasn't doing much so took my chances and put them on a credit card. It did come through as a regular purchase -- not a cash advance.

suze,
My original post had nothing to do with taking my 2000 euros and going off to France. It was for the sole purpose of telling of the source, Wells Fargo, for obtaining euros before travel. People have asked for this information. As I have said before, I was only trying to be helpful in providing this information.

As to inexperienced travelers being confused and needing explanation...I think if they are only reasonably intelligent people that they could understand...they also might decide that they would rather seek information from a friendlier source. I was a "hostess" on another popular site for many years giving help to those asking...it became too political in many ways and I resigned from doing that. I use the various sites for my own benefits and occasionally pass on some information with the intention of being helpful, not argumentive. I hesitate often because I have seen the same thing that has happened here happen elsewhere. That is why I TRIED to keep it from happening with my original post..ha ha!! It is too bad. I "take" what I sort out for my benefit and I will most certainly hesitate from passing on good, helpful and asked for information in the future.

Patrick,
Get the AAA credit card....if you use it for the emergency funds, as I do, you can't beat it. You have the "comfort" of having whatever amount for a tragedy of some sort without a penny's cost to you!! You may also receive some other small benefits, as you do by just being a AAA member..Intl drivers license etc..I don't know what other CC do for using them to purchase the TC's. I certainly would not write a check for them, using my cash, or a credit card with any kind of charge for them, when I can use the AAA card and get them free!! Many of us have little things that others can use............

<I KNEW I would get the kind of responses that I got....> gracejoan, I believe you posted this knowing full well the kind of responses you would receive. You even say so yourself.

<...it became too political in many ways and I resigned from doing that.> You are finding fights where none exist here.

This would be a good advice by the OP if she'd mention it's not for people who respect their money and try to spend less. Her way to handle money is only for those who have money to burn. It may be very misleading for the forum's newbies.

I don't feel comfortable to depend on the airport ATMs so I always get some foreign currency at home. Very little, not in thousands. When in Zurich, there was a long line of backpackers at the ATM. I was glad I paid for convenience. Lost a few dollars at home, but that's it. I would never ever exchange more then 1 day worth.

Suze, you read my mind.
Is that a violin I hear?

suze

My original post said ONLY to advise people of Wells Fargo...nothing else..I had hoped that would do it..obviously I was mistaken!!

The political that I referred to was International/governmental type politics......

OK, gracejoan, now it's my turn to say that maybe you didn't follow my post, or did you?
I used my usual Citibank Aadvantage Card to get the TCs at AAA and there was NO charge, and I got my usual AA miles.

And for "emergency funds" that's what my ATM card is for -- also at no cost.


Meanwhile, I fail to see what the controversy is with a post like this. Gracejoan clearly said at the beginning it was for information only and NEVER did she try to persuade anyone to do the same thing. The idea of suggesting that she should have started her post with "this is only for those who love to throw their money away" is laughable at best. If anyone can't read a post and decide for himself whether or not the money is worth it to him, then he doesn't have the smarts to travel -- period.

Patrick,
Well said....I did get your CC info..guess I just sdaid more than necessary for others.
I really am sorry for having begun this post..and will most certainly hesitate in the future.
My Wells Fargo euros just arrived..the e-mail they had sent said they would be here by 3:00 today..arrived at 2:15..I told the driver that..she was pleased.Interesting interior packaging.
I will be leaving on the 16th for an expected super trip..will hesitate to post about it upon my return........

Gracejoan, it should be a well known fact that most people posting here have ONE way they do things and resent being told that any other way even exists. They KNOW their way is the best way for all. But I think these issues of money seem to create the most "any way other than my way is STUPID" posts of all.

Patrick,
Again, well said....but I didn't suggest in the smallest way how someone should spend their money...all I did was answer a question of where funds could be obtained!! Very touchy!

I have seen a question from a poor new person get jumped on in a very ugly manner...how many just go their way and forget Fodor's??

Some would say site management should take care of rudeness, but that subject could really open up a can of worms!!

I guess you just often "take" more than you "give" because of the lack of common courtesy by some..so very unnecessary............

gracejoan, thank you for posting how you are able to get easy access to euros in the US. Most of the banks here do not carry euros so I for one am usually looking for an airport ATM right away. I also like St.Cirq's idea of bringing euros back to "seed" the next trip. In the past I try to finish off my euros buying chocolates and more chocolates at the airport ;;) Deborah

gracejoan3: What's the safest way to carry that money through Europe? Do you deposit it in a hotel safe and carry only a daily ration with you? Just curious. Thanks.

You will probably receive many answers to your question of "how to carry ". I have often used the safe in hotel rooms. If I have rented an apt. they have always been very secure places...you need a map for all the different locks!!
I usually have about 400 euros with me for day trips...credit cards etc., of course. If moving from place to place, I would only have the funds separated within the single purse that I carry. I have always used a shoulder bag that easily is along my side and held on to. I suppose if you were in a crowded area, hold onto it more closely.
I have never had a problem by just using common sense.

Deborah Ann,
I'm glad you appreciated the giving of the Wells Fargo site. It is very easy to use.
My bank does not carry euros, but they do order it and it is then delivered to them the following day, if ordered in the am.
I usually have 200 or so left over to begin my next trip.
The airport can be a good place to "use up" the excess!

As an aside:

A couple of years ago our son went on a school trip to Canada.

At the meeting a couple of months beforehand parents were asking why their children couldn't use US$ and where they could get Canadian Dollars.

This advice might not be for all posters on this board but it will help someone.

alya,
Yes, that was the purpose of my post..to let people know that Wells Fargo did have foreign funds to deliver to you for a trip. I have now tried it, and it is very safe and efficient to use. I would certainly plan ahead for using the service, or any service to allow plenty of time. I am not a last minute kind of person!

Cash Machine...the real deal...

i happen to be balancing my current account and a quick scan over the last few months shows these charges paid on cash machine withdrawals...charge is defined as the amount paid over the interbank rate. bank is natwest in UK and other bank is hsbc also in uk...two of the largest banks in the country. withdrawals are always from cash machines of major national/regional banks (never the dodgy machines in pubs).

seeing how i have two accounts at different banks in the sample and the cash machines are more or less randomly chosen from the major banks, i would say it is a fair sample.

shanghai china - charge £9.05 for £200 (worth) withdrawal

KL Malaysia - £7.51 on £148 withdrawal

taipei - £8.37 on £177

Munich - £9.25 on £207

munich - £9.53 on £218

prague - £9.69 on £224

riga - £9.50 on £217

paris - £6.98 on £124

prague - £5.68 on £119

paris - £9.51 on £217

paris £9.48 on £216

Not looking so great, is it. of course the charge would be levied for each withdrawal (usually 2-3 per holiday). i do believe that the cash machine is the best way to go but i think people who think they pay no charges (per my definition) are in dream land. luckily, my banks itimises anything above the bank rate as a charge but most don't.

Interesting, walkinaround, but apparently yours is a UK bank. I can assure you that my charges for ATM withdrawals via my US Bank are nothing like that -- no fees at all (unless I happen to use more than two a month at non partner banks -- which I normally don't) and the lowest exchange rate I have seen. Apparently UK banks don't offer the same wonderful rates.

My experience typically is that when the current exhange rate is 1.20 dollars to the euro for example, my withdrawal of 300 euros results in an exact $360 deduction from my checking account. That means "no charge" in my opinion and I'm not living in a dream world.

schuler thanks for asking and to gracejoan for answering. as i asked earlier on this thread, i've been trying to find out the best method for carrying a large amount of money. so it's just all in a normal pocketbook carried in a secure manner. good to know.

Patrick,

What bank do you use? Bank of America definitely levies a charge for each withdrawal at a foreign ATM. Time to switch!

No Rick Steves moneybelt? ;-)

It is true that many people here act as though you're a moron if you get foreign currency before your trip. I've seen it in many threads. While I wouldn't want to pay as much as gracejoan did, I like to have a couple hundred Euro. My reason is that if all those ATM's in the airport are EVER going to be out of order or out of cash, you can be sure that it will be on the day I arrive!

I will also give another source of foreign currency. My bank was going to charge more than I wanted to pay ($1.34 per Euro vs. the going rate of around $1.22, plus a $10 fee and a minimum of 300 Euro, or $46 total), so I decided to check around. None of the American Express offices near me handled it, but a guy at one of them told me about a local private agency, so that's something you could look for in your area. He charged $1.30 per Euro, no extra fee, no minimum, so it cost me about $16 for 200 Euro. Well worth it to me not to have to worry about finding an ATM when I get there.

Many people buy some euro before their trips, whether thru their own bank, Thomas Cooke, whatever. Many people don't mind if there are fees and a lesser exchange rate, because it is worth it to them to have euro in hand upon arrival.

I think what got people *interested* on this thread was the fact that someone chose to carry $2000+ in cash with them. That is the part that is a tad unusual about gracejoan's method.

It's no great mystery to figure out how and where to buy euro in the U.S.

"It's no great mystery to figure out how and where to buy euro in the U.S."

suze, I would have assumed the same!

Until the 'parents meeting' and a long discussion about not being able to use $US in Canada and the ensuing discussion 'where to get $Cdn'?

For goodness sake it's only a 5hr drive from here to Canada.

Never assume! :-)

Author: Underhill
Date: 09/07/2005, 07:18 pm
Patrick,

What bank do you use? Bank of America definitely levies a charge for each withdrawal at a foreign ATM. Time to switch!"

With all due respect, Underhill,you are wrong. Normally I find Barclay's in the UK, Paribus in France and Spain (sometimes in Italy) and Deutsche Bank in various other countries, as well as Scotia in Canada. Any ATM withdrawals at any of those partner banks and BofA charges me nothing. If I fail to find any of those banks, I still have two "unrelated" free ATM withdrawals per month and THEN they start charging me -- last I knew $1.50 per transaction. I think on my last two month trip to Europe there were two such charges -- a grand total of $3.00. For the record I have an Advantage account with BofA, so I believe that fee is less than their usual, but regardless of type of account, all those partner banks allow for no charge ATM withdrawals.

And USAA charges nothing for withdrawals from any ATM in Europe no matter what bank you use.

Good Day xyz123,
I apologize in advance if I soung ignorant, but what does "USAA" stand for?(And USAA charges nothing for withdrawals from any ATM in Europe no matter what bank you use.) When I travel in Europe, I prefer to use an ATM card as opposed to carrying cash with me. Thanks!!

sound

Nit Picking! Any time you have cash or money in TCs or special cards potential interest is lost on that amount. AX makes money using its 'float'.

Grace, you never answered my question about how you manage without cash at home (e.g. paying for a drink or a newspaper) ?

walkinaround, those charges seem very high ? I'm with HSBS & recently they've been charging £1.75 per withdrawal at a foreign ATM.

Caroline_Edinburgh,
Sorry I didn't respond to your question about cash purchases. Newspapers are delivered to my home and subscription is billed...pay for a drink...I only have wine when dining and it is paid with CC with meal...I really can't think of anything that I would have the need for cash...if went into the center of town, parking meters..that is rare to even go into town, and I would probably park in my legal counsel's parking lot. It is amazing how little cash is necessary in the world today. Hope this helps to answer your question about the way I live....

Interesting, Grace. Living in a city here I still use cash quite a bit. E.g. buy newspaper on way to bus stop, pay bus fare (exact change only), buy bowl of soup in canteen at lunchtime, buy glass of wine between evening engagements, get cab home & pay in cash...

walkinaround : that should have been HSBC.

GSteed,
By using the AAA TC's and charging it to their credit card, I have the use of "their" money for the emergency comfort for my trips at zero cost to me...what could be better than that!!

There are many different benefits out there by maintaining different types of accounts. I think Patrick mentioned his reduced fees because of this.

patrick, but don't banks use the "retail rate" for CC and cash machine withdrawals? i think this includes a margin over the interbank rate that is quoted in WSJ? The best rates i ever get are when i use the bank's currency trading desk (only for large lump sums). you are quoted a rate and you have 20 seconds to approve or reject. this is open market trading and is still subject to the trader's "spread". why would banks use their interbank rate for exchanges of $300 and not for exchanges of $50k? and i understand that the w/d are lumped together but why wouldn't they put a bulk transfer in that lump. to clarify, i'm talking about the BANK's own currency trading desk not an independent desk. anyone in banking that can shed light?

Well, walkinaround, you may be right. I have no way of knowing for sure what rate I'd get if I traded 50,000 at my bank, and don't plan to find out in the near future. If I look at the daily figures on a standard sort of currency exchange website (I usually use xe.com) and I get that same rate from an ATM, I'm happy.

I'm with Gracejoan on that lack of needing cash at home. I guess I use a little more than she does. I often get a Starbuck's in the morning and haven't resorted yet to a Starbuck's card or using credit card. My usual personal policy used to be I'd use a credit card for anything over $20, but there aren't many of those things anymore. I've even charged $6 or $7 worth of groceries at times. I rarely have more than $40 in my wallet. And fortunately I can use free parking in our downtown, so no meters.

Patrick...you are much too conservative!

My attitude is if the store takes credit cards, you are paying for it in slightly higher prices. The acceptance of credit cards is a cost of business just like the cost of a business chequing account and rent and electricity so stores accepting credit cards probably have something built into the prices so that they can take them.

So if I go to a grocery and pick up a container of milk and the store takes credit cards, I use it. BTW I have found that credit card transactions in this day and age of swipe POS terminals take a much shorter time than standing on a queue and watching some little old lady (sorry!) after the groceries are run up for $14.27 reach into her wallet, and start picking out $1 bank notes and then counting out the change to get rid of her pennies whereas I swipe my card and within 10 seconds or shorter the transaction is done.

I can go for a week on a $30 withdrawal from an ATM....I don't buy newspapers anymore, I read them on the web every morning..fast food outlets, most of them take cc's now shopping most of them take cc's now.

Do remember there are 2 very important rules about credit card usage in the US. Merchants are not allowed to surcharge credit card sales and they are not allowed to set up a minimum charge for use of a credit card.

Now I just got back from London and Paris...the same thing is pretty much true in both of those cities. Local transportation? The tube and the RATP take credit cards for all fares no matter how small (at station booking offices of course and in the machines) [BTW the NYC subway takes cc's at its machines where metrocards are sold as do the commuter railroads and many of the commuter buses)...need a coke, sandwich for lunch...some of the pret a manger's take cc's as do some of the mickey d's. I easily went through a whole week with one £30 withdrawal from an ATM (needed cash for downing pints at pubs and for internet cafes but that was about it)..

Unfortunately UK consumer affair departments have not allowed cc companies to impose their very helpful rules regarding minimums and surcharges in the UK and unfortunately there are some unenlightened merchants who insist on a £5 minimum but that's life in a big city so to speak.