What to do when I can't get enough cash from the ATM?
 

Upon arrival in Amsterdam I'll need to have close to 700 Euro cash to check into the self-catering apt. I've rented. As I can only get $500 from an ATM per day...how do I make up the difference without getting Euro in the US first or exchanging cash at the AMS airport? Already asked for a raise in the daily limit but they can't increase it.

I could pay with a credit card but they'll charge 5% additional for that. Any suggestions? Thanks!

Seek out a source for no-fee traveler's checks which you can return at no cost (i.e., you get all your money back) - - ask the landlord to "hold them" until later in the week when you can pay the entire amount in euros.

Alternatively, you might be able to do the same with US currency.

Another creative solution might be to open an entirely new bank account somewhere - - in essence making yourself a "second identity" (not fraudulently, not with any information ither than your real name, real address, etc).

Then, to an ATM, you are "two different people".

And as you already know, as last resort, you could bite the bullet and buy euros before you leave, at the available (bad) exchange rate you can find locally.

Best wishes,

Rex

We have used a credit card to get cash when we had a problem with our ATM once but I don't think that will save you any money.

I think Rex's suggestion of giving them a traveler's check to hold is a good one. How about even asking them if they will accept a personal check until you can get the cash? Doesn't hurt to ask. I had a B&B do this for me once in France. Gave me my check back when I gave them the cash.

irishdame: You may have a $500 limit - but you are not stuck w/ that. Every time I go to Europe I contact my bank and have them temporarily raise my daily limit. Last trip it was $1000 because I needed to do the same thing - pay a lot of cash for my holiday flat.

No big deal - your bank will probably be able to fix you up . . . . .

Talk to you bank before you leave and ask them about their service options. I travel a lot in Europe, so I opted for my bank’s “Premium:” service. I can get as much as $1500 per day and am not charged for ATM withdrawals in Europe, up to a certain number per month. Calculate if this is worth it for you.

Ask your bank about other forms of guaranteed, secure notes, which involves a fee, but not excessive, made payable to a particular individual or company.

Consider Traveller’s Cheques, not popular anymore, but if your renter is willing to accept them, they may work for you.

As Ronda mentioned, I have occasionally been forced to do a cash advance on my VISA through ATM (NOT ideal) when ATM refused to give me cash on my debit card (mostly, this has happened in Italy), so make sure your VISA card is set up before you leave, just in case.

Hi irish,

>Already asked for a raise in the daily limit but they can't increase it.<

1. Tell them that this is the USA, not Europe, and you want your daily limit raised or you will find another bank.

2. Open an account with another bank. Get a second ATM card. Take $500 out of each card from one ATM.

((I))

My bank recently was bought out by another bank and I was told nothing would change . . . right.

In my old bank, I had a permanent daily limit on ATMs of $1,000 . . . with new bank, $500 was the maximum. But, they did issue me two ATM cards (on the same checking account but the cards have different numbers )and I can use them back-to-back, get $500 from each . . . problem solved.

Maybe this will work for you . . . be sure to test it before you leave home.

Have a great trip,
Sandy (in Denton)

Guess I should clarify my post. When I first called the bank's customer service number they said no dice. But when I actually walked into the bank and talked to an acct manager they had no problem. Now I just talk to a teller and they can do it from their terminal.

I find the phone customer service agents often don't know what they are talking about.

I'd just take $850 US cash and exchange it when I got there.

Wow, Brian, how refreshing to hear from someone who doesn't care if it costs him an extra 5 or 10% or whatever to get cash. Most of us are so concerned with not throwing our precious money away.

You might send a bank draft from <b>https://www.xe.com/fx/how.htm</b>

Re-reading irishdame's original post, I've changed my mind and think I'd pay the extra 5% and pay with a credit card. The small cost would be worth not having to do battle with my bank and/or changing banks/opening additional accounts. Plus, I'd get protection in the event the apt was a dump or not what was promised. Or at least be able to threaten the landlord if something's not right.

I'd do this with mixed feeling though as vendors aren't really allowed to do this (offer different prices for cash/credit cards).

I wonder what objections people might have to using xe.com's XEtrade for instantaneous, <i>commission-free</i> transfer of funds from one country to another.

Sounds better than paying a 35&euro; premium just to get one's rent paid.

&gt;
1. Tell them that this is the USA, not Europe, and you want your daily limit raised or you will find another bank.&gt;

Wow Ira, strange comment, do you think we're financial-management oppressed here in Europe? Odd, considering, having read so many money issue posts here over the years, it appears it's the Americans on this board who get hammered on conversion fees and ATM charges.

Have you figured if the fees/charges to get the cash via ... buying euro in the U.S., exchanging cash at the arrival airport, using Travelers Checks, etc. off sets the 5% additional to use a credit card?

If your bank absolutely refuses to raise your limit, opening another account to get another ATM/debit card could be your easiest route, given there's time for that process. That's what saved us in a similar situation in Prague last June.

Have fun in Amsterdam! We loved it there. If you haven't read my recent travel report, click on my name above and you'll find it-- lots of good restaurant and cafe recommendations. (I think you may have already read it, though.)

I would walk into your bank and ask them how to solve the problem. I don't travel alone, so I can always rely on my wife's card as a backup. For a lone traveler, I would ask for a second card (in my view a necessity in case you lose your first), and the ability to draw $500 (if they insist on keeping that limit) with each card.

Failing that, I think most banks now offer free checking accounts, so I would just open a second checking account and split my money between them.

Thanks for all the suggestions! I went into the bank today and whoever said that the CS reps on the phone don't know anything was right! The rep. in person stated she'd be happy to increase my daily withdrawl limit to $1,000 only for the time I will be gone. Problem solved!

Thanks again everyone!

And yes MaureenB, read your trip report, thanks for the recommendations!

Irishdame, have a great time in Amsterdam! Please post a trip report when you return. Safe travels.

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