Go Back  Fodor's Travel Talk Forums > Destinations > Europe
Reload this Page >

Getting Euros before traveling (is this a good deal???)

Getting Euros before traveling (is this a good deal???)

Jul 30th, 2008, 05:22 AM
  #21  
Original Poster
 
Join Date: May 2008
Posts: 1,085
Wow, NeoPatrick, a bank refusing to change €20...that is unbelieveable. That would be unheard of at any bank here in the US (although someone can prove that wrong). Well, then I'm forewarned not to carry a €500 note in the hopes of getting it cashed at a Eurozone bank.

jdc
jdc26 is offline  
Jul 30th, 2008, 05:23 AM
  #22  
 
Join Date: Dec 2005
Posts: 1,706
Another thing travellers should be aware of is that more and more banks don't HAVE any money. Most of the bank branches where we live now just have machines for you to put your debit card into.

If you don't have a card, they can issue you a temporary one, but as someone else said, they are not likely to do this if you don't already have an account.

For a while this was causing difficulties even for those of us who had accounts, because they issued a lot of 50 Euro notes - not great for using in the farmers' market for a dozen eggs. They now, at least in our branch, offer you the choice of small denominations or large.

The days of a teller with a drawer of cash are quickly disappearing, at least in France.
Carlux is offline  
Jul 30th, 2008, 05:27 AM
  #23  
 
Join Date: Jul 2006
Posts: 17,388
I'd hate to try and spend a 500Euro note. This the size that German's like to hid e form the tax man.

Sounds like a bad deal (you can't spend it) and a dodgy deal
bilboburgler is offline  
Jul 30th, 2008, 05:41 AM
  #24  
Original Poster
 
Join Date: May 2008
Posts: 1,085
Carlux wrote >The days of a teller with a drawer of cash are quickly disappearing, at least in France >

That's very interesting as I'll be in Nice and would need to use the ATM's. Are you saying that there is a possibilty that because I don't have an account at a bank, I may not be able to use the ATM?


BilboB wrote >I'd hate to try and spend a 500Euro note. This the size that German's like to hide form the tax man.<

That is too funny and I'm LMAO...hiding that amount from the tax man...it seems such a small amount to me, but I guess to them is quite a lot and thus needs to be hidden.

jdc
jdc26 is offline  
Jul 30th, 2008, 05:44 AM
  #25  
 
Join Date: Oct 2006
Posts: 36,768
No, no, no. ATMs have NOTHING to do with tellers with a drawer full of cash. It is frankly because of the abundance of ATMs and the ease with which you can use them, that makes it now impossible to get change from a teller. Tellers are for services to the bank's own customers. ATMs are for anyone in the world who has a card.
NeoPatrick is offline  
Jul 30th, 2008, 05:52 AM
  #26  
 
Join Date: Feb 2005
Posts: 9,017
>This the size that German's like to hide form the tax man.

Ooops, I didn't do it, those aren't mine, how did they get here. Must belong to someone breaking into my home and leaving piles of money. I swear.

German people love cash
logos999 is offline  
Jul 30th, 2008, 05:54 AM
  #27  
 
Join Date: Apr 2003
Posts: 17,215
"hiding that amount from the tax man...it seems such a small amount to me,"

That's not the point. €500 notes have just two uses:

- to buy cocaine, or at any rate settle accounts between drug dealers
- to take, in very large quantities, to Lichtenstein where you give them to your private banker who puts them somewhere they won't get taxed. If you want to launder a couple of million, €1 coins really do weigh your pockets down.
flanneruk is offline  
Jul 30th, 2008, 05:54 AM
  #28  
Original Poster
 
Join Date: May 2008
Posts: 1,085
Thanks "Neo" for the clarification. I feel better already.

jdc
jdc26 is offline  
Jul 30th, 2008, 05:56 AM
  #29  
Original Poster
 
Join Date: May 2008
Posts: 1,085
And to you too Flanneruk.

jdc
jdc26 is offline  
Jul 30th, 2008, 06:04 AM
  #30  
 
Join Date: Feb 2005
Posts: 9,017
People don't actually take large quantities of 500€ bills to CH and Liechtenstein. They have a 10000€ allowance that doesn't have to be declared to customs. They just repeat the thing over and over and have others work for them.

It's a huge problem for Germany. And risk free as long as 10000€ per trip aren't exceeded.
logos999 is offline  
Jul 30th, 2008, 06:35 AM
  #31  
 
Join Date: May 2008
Posts: 12,820
1) If you buy your Euros from them, they will figure out you are going to Europe and didnt book through them
2) I find it odd that they have the Euros and are willing to sell them with no markup to someone who didnt book through them

Other than that its a good deal if saving $10-15 is worth it to buy em now and shun your agent. The only **Caveat I would add, is the Country of issuance(you can tell by serial #s). I understand its been difficult to unload large Euro notes printed by Spain/Greece and Italy since Ireland voted down the Lisbon Accord. The fear is that Euros are not all equal if the Accord falls apart, and that German/French etc printed Euros are worth more than the aforementioned. I find it difficult to belive, yet many Germans have already turned in all their high denominated So European notes recently.
FrankS is offline  
Jul 30th, 2008, 06:38 AM
  #32  
 
Join Date: Feb 2005
Posts: 9,017
>unload large Euro notes printed by Spain/Greece and Italy
Where did you get that nonsense from?
Too funny
logos999 is offline  
Jul 30th, 2008, 06:47 AM
  #33  
 
Join Date: Jan 2003
Posts: 1,283
Hi Jdc,

I'm going to chime in with some of the other posters and say something is really "off" about this whole scenario and feel I'm pretty qualified as I've been a travel agent / consultant for the past 17 years.

I have my own agency and while we may "go the extra mile" to provide service for our clients, there's no way in hell I'd ever be purchasing Euros for a client -- even if the client gave me the cash up front!

That's just really over the top - what's next - must I go to your house and help with packing? (oh wait, I HAVE been asked to do that)!

Regards,

Melodie
wlzmatilida is offline  
Jul 30th, 2008, 06:53 AM
  #34  
Original Poster
 
Join Date: May 2008
Posts: 1,085
FrankS,

In response to 1) and 2), my Agent told me the euros through a conversation we were having and asked me if I knew of anyone going to Europe that would be interested. I know I did not book through them, but if I decide to purchase some, then a friend of mine would be the purchaser on my behalf. It's not that don't like their service, it's just that I wanted to do the planning and booking on this particular trip myself and really enjoyed doing the leg work.

jdc
jdc26 is offline  
Jul 30th, 2008, 07:01 AM
  #35  
 
Join Date: May 2008
Posts: 12,820
logos,
I think its silly to exchange Euro notes too, but then again Im not a German with a few trunks full of them
FrankS is offline  
Jul 30th, 2008, 07:04 AM
  #36  
 
Join Date: May 2008
Posts: 12,820
jdc,

Its really not worth it if you have to bring in a friend to buy them. If you buy them, buy them from the agency yourself.

In my opinion
FrankS is offline  
Jul 30th, 2008, 07:09 AM
  #37  
 
Join Date: Oct 2006
Posts: 36,768
"Germans like cash".

You're telling me. Years ago I was doing a design project for a rather young German couple who bought a house here in Florida. We met and planned for a few days and came up with about $75,000 of work, window treatments, carpeting, and a few pieces of furniture. I said I needed half as a deposit, since it was all custom work. We went out front to his Rolls Royce (he had just bought it for his wife for her birthday, but he bought a blue one and she wanted a white one so she took it back -- but I digress). He came back in and opened a metal briefcase that was right out of the movies. Completely full of stacks of bills (US). He counted out $40,000 then paused and said, "we might be in Germany when you finish, so I'll just pay the whole thing" and counted out another $35,000 or whatever it was. I was stunned and a nervous wreck until I got it to the bank. The teller looked at me sort of suspiciously and asked where I had gotten all the cash. I said, "I have this German customer. . ." and she cut me right off saying, "Oh, that explains it."
NeoPatrick is offline  
Jul 30th, 2008, 07:10 AM
  #38  
 
Join Date: Feb 2005
Posts: 9,017
FrankS, do you know the origin of that changing myth? Totally unknown over here
logos999 is offline  
Jul 30th, 2008, 07:16 AM
  #39  
 
Join Date: Feb 2005
Posts: 9,017
German saying:
"Nur Bares ist Wahres"
"Only cash is real (true)"
logos999 is offline  
Jul 30th, 2008, 07:31 AM
  #40  
Original Poster
 
Join Date: May 2008
Posts: 1,085
Thank you all for your kind and honest responses. It is after all, what I was looking for, whether or not you thought I was getting a good deal base on the exchange rate. Again, I don't know all the specifics, except for what I've written based on what was told to me. If something is amiss (which most of you seem to think), I donít know. What I wanted were your comments/opinions, for which you all honestly give. Thus, making the decision to forego getting them is easy. Donít want to deal with the hassles of changing 500€ into smaller denominations and whatever other factors may arise.

That's why I love this Forum.

jdc
jdc26 is offline  

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy -

FODOR'S VIDEO

All times are GMT -8. The time now is 11:40 AM.