Foreign money??
 

When we visit London and Paris in late summer, is there ANY reason we can't arrive with absolutely NO foreign money and get it as soon as we get off the plane?

Absolutely -- of course once you land it is no longer foreign money :-)<BR><BR>There are several ATM machines in the airport arrivals halls and in the train stations if you are taking Eurostar between cities.

yes, it just sometimes a question of there only being one working atm and a long line, which I am definitely NOT in the mood for after a long flight.<BR>I choose to bring some with me, I'm American so I bring $100-$200 worth of local currency, more than enough for my first day including transport from the airport, first meal, tips, etc.

Yes, that is a good thought, Elaine. It just that when I called the bank, they are charging $8.00 +1% to get the money for me. Is that about the going rate?

You might try American Express.<BR><BR>But keep in mind that your own government is charging you - - how much? in taxes, for the privilege of leaving the country and coming back.<BR><BR>What's eight bucks?<BR><BR>Best wishes,<BR><BR>Rex<BR>

Rex, you are right. I am just being cheap, aren't I?

And you never know when you may encounter an ATM glitch--<BR><BR>On my last trip out of the country, we arrived at Gatwick at 6 am on a Monday, used a credit card to purchase tickets for the Thameslink train, attempted to use my bank card at the ATM machine(s) at Kings Cross and nearby. Each attempt that morning failed. (Good thing for us, my daughter's card worked fine.)<BR><BR>Upon arrival in Edinburgh five hours later, my card was working again.<BR><BR>I don't have an explanation for the lapse in service--maybe 'they' were working on 'the system.' After all, in NJ, it was the wee hours of the morning and 'they' have to do maintenance on 'the system' sometime.<BR><BR>I was alarmed to think that my card might fail me the entire trip, but I did have back-up, just in case, including credit card and a few travelers checks.<BR><BR><BR><BR>

topping<BR>

The longest 60 seconds I spent on our most recent trip to Ireland (pre-Euro) were those between the time I inserted my bank card in the second machine I saw (the line was too long at the first) and when the pounds came tumbling down -- since we had arrived with less than $10 in cash. It's a heartpounding experience but worth it if you can stand the suspense . . . My fodor-friend Sandi hit about 5 ATMs in Paris before one gave her $ . .. just another part of the great travel adventure!

I don't know...I personally don't think it is necessary to load up on local cash before leaving home. You get ripped off big time on the exchange rate and yo have to go hunting for a bank that will deal with foreign currency.<BR><BR>Yes there is the possibility of a queue at the ATM or the ATM may malfunction. That is the reason you bring $200 in nice crisp $20's. Should this befall you, and it is rare, you amble up to the exchange office and make the exchange then. You're going to probably have to wait for your baggage anyway.<BR><BR>If the ATM doesn't work, you can always go into a bank branch with a debit card and make a cash withdrawal. Cash withdrawals on debit cards while called a cash advance by the issuing bank are not cash advances which should be avoided unless there is an emergency.

I have never gotten foreign money before a trip. It bugs me to pay extra. I do take a few travelers checks just in case but now use exclusively ATMS. After my last 3 trips I redeposited the travelers checks (I had no cost to buy them in the first place so no problem). I've yet to run into a problem with ATMS. I do carry cash just in case but never seem to need. Unless you arrive at some weird hour where nothing is open (including ATMS) to change money I wouldn't bother getting money ahead of time.

I always take a couple of hundred in the local currency. As Rex said, it's only a few extra bucks in fees and the convenience of grabbing a cup of coffee, a paper, tipping a taxi driver, picking up postcards, etc. while others are waiting for their luggage to hit the carousel or queuing at the ATMs is worth it. Also, there's always the odd possibility that my card won't work in the first place I stop (never happened though). Finally, if you arrive very early morning, as most flights from the states do, the banks are closed.

I forgot to include this in my earlier reply: When we were in Paris in January, just after introduction of euros, most places - including cabs and shuttle drivers - were MORE than happy to take our US dollars since they were (then) worth about $1.10, a most favorable rate for them. Of course the rate's not quite the same now but I imagine they're still amenable to taking US$. Of course, that will only apply if you're flying first to Paris, since UK isn't doing euros yet.

I never exchange money before I go (or take Traveller's cheques). I always go to an ATM when I arrive at the airport, and for any reason I can't use an ATM, there there are always exchange bureaus dotted around the arrivals lounge, where I can get cash with my credit card.<BR><BR>There may be cheaper ways to do it, but I go for convenience every time (just lazy I guess).

upward<BR>

We got foreign currency from our bank at , reportedly, no additional fee. That way we didn't have to worry about exchanging for local money. i was told that charge cards ,e.g VISA have the best exchang rate, but later found a 1-2% fee is placed on each transaction. Probably the ATM is the best of all worlds.

Betty: If you decide to obtain money for your trip before leaving, you might try www.oanda.com. They will send you $200.00 (the smallest amount you may obtain) in 48 hrs. or less for about $10.00. Incidentally, while on their site print yourself a little "cheat sheet" for pounds and euros to tuck in your wallet. Helpful while in both countries.<BR><BR>j

$8 + 1%????? What bank do you go to? Shop around you should not have to pay any more that the standard buy/sell exchange rate to get foreign currency. <BR><BR>My normal bank (actually a credit union) does not exchange currency, so we go to a nearby bank to get it, All we had to do was open an account ($100) and we could get exchanged for free, and if you tell then a few weeks ahead of time what demoninations you want they will even special order it for you--that came in handy last year with all the different types of currency necessary.<BR><BR>I have to recommend that you take some local currency with you, and currency of any airport you may have to switch planes at (of course now with the Euro it will be all the same) you never know if or where the ATM machine will be and sometimes those machines don't always work right.

I REALLY got screwed changing into EURO's here in the US before I went to Italy.. I found it MUCH better changing there, but of course I felt better having a little bit with me for bus/metro when I got there. ATM's everywhere and can change money everywhere also..

Banks in small towns tend to charge a sizeable to convert money because they don't do it very often and usually have to order the currency.<BR><BR>I never get money beforehand, and always use ATMs, but I also have a bank account in Europe, so I've never had the worry of being completely stuck.

For those of you who use a debit card: How do you "balance" your checking account after you return? Do the European ATMs tell you exactly how much was withdrawn in $US, plus fees? Thx.

It is worth paying a little extra to avoid having to stand on the airport's currency-exchange line. After a long overnight flight, I do not want to be bothered dealing with logistics that could have been easily handled before leaving the USA.

Bring about US$100-200 worth of foreign currency with you. It'll save you lots of aggravation at the airport. <BR><BR>And I cannot understand why some people who say they're too lazy or cheap (or whatever) to get foreign currency then recommend getting travelers checks. You have to pay for those, and getting foreign currency really isn't much more hassle. (The $8 plus 1% fee cited here seems way high to me, in my experience.)

Let me see if I can explain it, Mr. Bucks -- you do not HAVE to pay for travelers' checks. I don't and never have in my life -- I always get them completely free either at AAA or even my bank (because I have a preferred account). So, as a backup, they are free to many people, as long as you get them in your own currency, so if you don't use them, you just spend them at home or stick them in the bank. As for the fact that getting foreign currency is no more of a hassle than TCs, that isn't true for me, and I suspect others -- I rarely go to my bank and bank's hours are not very convenient for working people (if you don't work near the bank), so that would be a hassle for me. On the other hand, the AAA travel offices are open on weekends and are in a shopping mall where I go anyway near my home. <BR><BR>Some of the other things people recommend seem like a big hassle to me, so I guess it's individual -- like going to a bank branch in a foreign country to try to get money (not from an ATM) on a credit card. YOu often couldn't do that on arrival which is when you are likely to need it to get into town, so I don't understand that solution (I don't see many bank branches in the airports I've been in, but maybe I've missed them). I also can't imagine taking all of your foreign currency with you which you get from your local bank to avoid a 1 pct credit card fee, as someone above does, if I understand that post--you'd have to take thousands with you to cover hotel and everything. I think as long as you will arrive during the day time, it's pretty safe to assume you can get money somehow at the airport on arrival, at least any major airport, as long as you don't mind potentially a little wait in some lines.

I would never dream of travelling without some local cash. The extra expense is worth the peace of mind. A few dollars isn't much to add on to the cost of a trip and it is really miserable if you can't get any cash. Imagine what it would be like to be in the US with no cash whatsoever - yes, you can use a debit / credit card for most things, but small purchases, bus fares etc. etc. would cause a big headache.

What makes you think there is going to be a problem? If the ATM's are out, you mosey over to the exchange bureau. What is dumb is not having a back up....I rely exclusively on ATM's, have never had trouble at any international airport in the world, but always bring $200 in nice crisp (or old scuffed) $20's so that if by some change the ATM's are down, I can exchange cash.<BR><BR>Now if you can just saunter off to the bank and pick up foreign currency, obviously nothing ventured nothing gained. If you have to start hunting or wait around for fedex well to me there are better ways to spend your time for something that is quite easy and routine upon arrival but that's me.

I take $100 in local currency, $100 in US travellers checks (free at AAA), a bank debit card (which I use for cash, and which I use for most everything), an American Express card, which is also a debit card to my bank, just as a back up to my other debit card and a Visa card, if all else fails. Works just great!