Still confused about converting currencies
Jun 14th, 2006, 03:39 AM
#21
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Well, I just contact the investment company and there is a .2% (.2, not 2) fee for currency conversion, plus my introductory offer of 100 free ATM uses is still good, so they will refund me any ATM fees that are normally charged. They are expediting me new cards since I never activated my old ones. This sounds like it is going to be my best option. Whew . . one more thing figured out.
Jun 14th, 2006, 03:39 AM
#22
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Hi B,
>I am also thinking of just converting to cash in advance ...<
I recommend against that.
a. It's an expensive way to get local currency
b. It could be lost or stolen
Your idea of an ATM card from another bank is a good one.
You should get two cards, with different numbers. That way you double your daily limit, and if one doesn't work, for some reason, you have a backup.
>I am also thinking of just converting to cash in advance ...<
I recommend against that.
a. It's an expensive way to get local currency
b. It could be lost or stolen
Your idea of an ATM card from another bank is a good one.
You should get two cards, with different numbers. That way you double your daily limit, and if one doesn't work, for some reason, you have a backup.
Jun 14th, 2006, 04:24 AM
#23
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Ira had a good idea.
What I also did recently:
- I went to a local bank and opened a new free checking account about a month prior to leaving. I then loaded that account with a few thousand dollars. That became our primary ATM card for cash. Our 'regular' ATM was our backup plan in case of theft/pickpocket/incompetence/etc.
I felt a little more protected because if lost/stolen, etc. we were limited to the cash in there (a few thousand dollars - no small change, but not catastrophic). It was not linked to any other account and was a standalone account.
As it turned out, we had no problem, there was extra cash, we didn't need the backup card. I got excellent exchange rates with minimal fees charged. I will keep this account open with small transactions for use exactly like this.
What I also did recently:
- I went to a local bank and opened a new free checking account about a month prior to leaving. I then loaded that account with a few thousand dollars. That became our primary ATM card for cash. Our 'regular' ATM was our backup plan in case of theft/pickpocket/incompetence/etc.
I felt a little more protected because if lost/stolen, etc. we were limited to the cash in there (a few thousand dollars - no small change, but not catastrophic). It was not linked to any other account and was a standalone account.
As it turned out, we had no problem, there was extra cash, we didn't need the backup card. I got excellent exchange rates with minimal fees charged. I will keep this account open with small transactions for use exactly like this.
Jun 14th, 2006, 05:32 AM
#24
ira was posting at the same time as Bendemeer - so he didn't see everything is solved. They are using their money market acct. debit card.
Benemder: Be sure to "practice" w/ the card a couple of times before you leave. And also make sure there are network symbols on the card (cirrrus, interlink, etc.)
Benemder: Be sure to "practice" w/ the card a couple of times before you leave. And also make sure there are network symbols on the card (cirrrus, interlink, etc.)
Jun 14th, 2006, 06:40 AM
#25
Well I am comfortable carrying around $400-600 in cash, but that doesn't make it right for you, or make it particularly good advise!
I would figure out how & get an ATM card from somewhere.
I would figure out how & get an ATM card from somewhere.
Jun 15th, 2006, 06:37 AM
#26
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Intrepid1, my $800+ of Euro charges on my CapitalOne Visa last month converted at a total of 30 cents worse than the XE rates for those days. Something like .03% worse? I'll take it instead of the 3% on other cards.
If you plan on using CapitalOne for foreign purchases you should be sure to inform them ahead of time, because they have a very active security department and will likely decline any charges if you don't.
If you plan on using CapitalOne for foreign purchases you should be sure to inform them ahead of time, because they have a very active security department and will likely decline any charges if you don't.
Jun 15th, 2006, 09:52 AM
#27
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"If you plan on using CapitalOne for foreign purchases you should be sure to inform them ahead of time, because they have a very active security department and will likely decline any charges if you don't."
Chase got me even though I did contact them with my specific travel dates and destination. Of course my ATM card worked perfectly. I somehow managed to get through the previous 20+ years without one. Thanks to this board I got one and used it. Why did I wait so long.
Anyway I had to call Chase from Paris to straighten it out. They saw that I'd called, they knew my dates, but the activity in Paris seemed suspicious so security blocked the transaction. A bit annoying but they were looking out for me.
Chase got me even though I did contact them with my specific travel dates and destination. Of course my ATM card worked perfectly. I somehow managed to get through the previous 20+ years without one. Thanks to this board I got one and used it. Why did I wait so long.
Anyway I had to call Chase from Paris to straighten it out. They saw that I'd called, they knew my dates, but the activity in Paris seemed suspicious so security blocked the transaction. A bit annoying but they were looking out for me.
