What Amount of Euros To Take?

Reply

Jun 10th, 2007, 05:39 PM
  #1
Original Poster
 
Join Date: Jul 2005
Posts: 81
What Amount of Euros To Take?

Opinions on how much currency to bring? My bank charges 5 bucks plus 3% for every ATM withdrawal in Europe (except in France at a BNP bank)...It will be 4 days before I get to France, so I'm thinking of getting some before I leave...what say you all?
sarabeth is offline  
Reply With Quote
Jun 10th, 2007, 05:45 PM
  #2
 
Join Date: Jan 2003
Posts: 11,244
Look for another bank. Mine charges nothing, zilch, nadda, zero. Just got back from Italy and Switzerland. All my ATM withdrawals were converted at the interbank rate for that day with no conversion fees or ATM fees.
Budman is offline  
Reply With Quote
Jun 10th, 2007, 05:46 PM
  #3
 
Join Date: Jan 2003
Posts: 4,247
SOunds like you have BofA..just because you mentioned BNP Parabis. Where are you going first? If the UK, they have a deal with Barclays..and if you have an Advantage account they do not charge 3% or the $5.oo
jody is offline  
Reply With Quote
Jun 10th, 2007, 05:47 PM
  #4
 
Join Date: Mar 2005
Posts: 150
Hi,
You should change banks, at least
for this trip. We use Citibank and
they charge $1.50 up to $1000 a day.
Sometimes the local banks limit what
you can draw out. There is the conver-
fee that is charged, I think 1%.
Katiemay is offline  
Reply With Quote
Jun 10th, 2007, 05:56 PM
  #5
 
Join Date: Mar 2005
Posts: 150

Budman, what is the name of your bank??
Katiemay is offline  
Reply With Quote
Jun 10th, 2007, 05:57 PM
  #6
 
Join Date: Jan 2007
Posts: 1,652
Katiemay, are you sure about that? Citibank charged me $6.69 "foreign fee" for withdrawing the equivalent of US$223 in Budapest.
MademoiselleFifi is offline  
Reply With Quote
Jun 10th, 2007, 06:05 PM
  #7
 
Join Date: Jan 2003
Posts: 44,412
Change banks. My bank also charges me not a penny and I wouldn't have it otherwise. Why should they?

I usually land in Europe with at least 150 euro to cover taxi fare, snack at train station or in town, coffee or drink at café later on the first day, or whatever...enough to get me by until I get unpacked and ready to hit an ATM.
StCirq is online now  
Reply With Quote
Jun 10th, 2007, 06:13 PM
  #8
 
Join Date: Oct 2005
Posts: 62,185
my bank charges $1.50, and my CU charges nothing - so yes - I'd change banks if you can . . . . .
janisj is online now  
Reply With Quote
Jun 10th, 2007, 06:13 PM
  #9
 
Join Date: May 2005
Posts: 136
Unfortunately, not all banks are in all states. I live in Ohio and though we have a number of multi-state banks, none that I have found have no fee. Pretty much all of the Ohio majors are at the 3% plus $3 or $5 per transaction. Definitely no BofA here.

Most have the Visa logo on their ATM card and then Visa puts the 3% fee into it. Every employee at a level low enough to talk to actually believes it is standard and not a choice of the bank.
gforaker is offline  
Reply With Quote
Jun 10th, 2007, 06:20 PM
  #10
 
Join Date: Jan 2003
Posts: 11,244
Katiemay, Commerce Bank. It's mostly on the East Coast, NJ, NY, CT, MD, VA, area.
Budman is offline  
Reply With Quote
Jun 10th, 2007, 06:22 PM
  #11
 
Join Date: Oct 2005
Posts: 62,185
Goforaker: - visa doesn't put a 3% fee on it -- unless you are talking about credit cards.

The tack on for ATMs is generally 1% - any extra is from the individual institution . . . .
janisj is online now  
Reply With Quote
Jun 11th, 2007, 04:31 AM
  #12
ira
 
Join Date: Jan 2003
Posts: 73,823
Hi S,

Change $100 to Euro at your departure airport. This will cost about $4 more than getting it upon arrival.

Withdraw the rest of yuor Euro in Europe. Even with your outrageous bank charges, it will be less than getting E in the US.


ira is offline  
Reply With Quote
Jun 11th, 2007, 04:56 AM
  #13
 
Join Date: May 2005
Posts: 136
janisj - Visa doesn't put the full 3% on to the price of credit cards, either, part of it comes from the issuing bank. You just can't tell the bank employee that. Bank fees are set at the highest level, far above anyone I can talk to including the local branch manager. It appears Visa puts the same charge on currency transaction through their system whether it is from a credit card or ATM.
gforaker is offline  
Reply With Quote
Jun 11th, 2007, 08:02 AM
  #14
 
Join Date: Oct 2005
Posts: 62,185
yes - I understand that. I only meant no ATM card from any bank I've ever used has added 3% - but some credit cards have. (none of my current credit cards add more than the standard 1%)
janisj is online now  
Reply With Quote
Jun 11th, 2007, 10:24 AM
  #15
 
Join Date: Oct 2003
Posts: 57,871
Agree you need a better bank -- they're soakng you.

I have Citibank - and they're not giving anything away - and they have no ATM fees anwhere in the world - and only 2% above interbank rates.

EVen so - you'll still be better off changing n europe - the euro rates anywhere her in the US are awful - you'll lose more than 3% (more like 7 or 8%) anywhere.
nytraveler is offline  
Reply With Quote
Jun 11th, 2007, 11:58 AM
  #16
 
Join Date: May 2005
Posts: 136
As I said before (if you are responding to me, the OP hasn't been back for a while) I'm in Ohio. No BofA, no CITI branches, and I don't qualify for USAA. Lots of multi-state banks, but apparently not enough competition for currency fees. Some banks can't even tell me what they charge for foreign currency transactions from an ATM. No info at all on their web sites.

Fortunately for me, my next trip leaves July 9th, but is mostly prepaid. I'm escorting 33 kids on a Tour of Europe, but that is a different story. An extra percent or two on the at most $2000 I'll exchange will not break the bank.
gforaker is offline  
Reply With Quote
Jun 11th, 2007, 12:11 PM
  #17
 
Join Date: Jan 2003
Posts: 7,125
gforaker, do you have PNC banks in Ohio? In Kentucky, since the first of the year they have been advertising no ATM fees ever, any time, anywhere. National City Bank has followed suit.

I bank at Fifth Third, and they have now begun to allow two foreign withdrawals per month. Of course, this is MY money they are allowing me to have for free.
carolyn is offline  
Reply With Quote
Jun 11th, 2007, 02:39 PM
  #18
 
Join Date: Mar 2005
Posts: 150
MadammoiselleFifi, I checked with
citibank today and they said there
is a 3% charge now. We haven't been
to Europe for 2 years, so it has
changed since then.
I am now looking for a new bank.
Our citibank m/c adds a 3% also on
cc transactions.
Budman, thanks.
Katiemay is offline  
Reply With Quote
Jun 11th, 2007, 05:55 PM
  #19
 
Join Date: Feb 2003
Posts: 1,564
Look into joining a credit union. Mine didn't charge any fees in Europe.

www.creditunion.coop/cu_locator/quickfind.html
luvtotravel is offline  
Reply With Quote
Jun 11th, 2007, 06:07 PM
  #20
 
Join Date: Feb 2006
Posts: 1,421
Be careful with credit unions. Some belong to a "network" that works fine for ATMs in the U.S., but doesn't doesn't have a presence in Europe. Make real sure before you go.
Larryincolorado is offline  
Reply With Quote
 


Thread Tools
Search this Thread
Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


FODOR'S VIDEO

All times are GMT -8. The time now is 09:15 AM.