when to exchange money?
 

When we go to Europe next month, we will be traveling to several different countries. Is it better to go to a mac machine and get cash (and what is the suggested average amount), or should I use my Visa card? Which way do you get a better exchange or is there no difference? Do most places take Visa when paying for a purchase? What is a good amount of cash from the USA to take to start out with?

I would suggest changing a little on your way, enough for taxi fare and maybe a meal for when you arrive. Our bank has a $200 limit on days transaction for debit card, so we did that as needed and then used the same card for for other charges. I found the bank ATMS not unreasonable in Amsterdam, Edinburgh and throughout Scotland and Ireland. HAVE FUN!

My strategy has been this: <BR>1. Buy the minimum amount of the currency of the first country I visit before leaving home so that I can pay taxi fare, eat, etc. before having to find an ATM. <BR>2. Use my charge card (Visa and MC) where I can because using it minimizes the cash I need and it gives me the best rate of exchange. (And I have found a distinct need for two, different charge cards.) <BR>3. Use ATM machines for cash. I try to project how much I will need and draw out only that much. (No cash advances; they are expensive.) But there is a compromise between walking around "loaded" and making more than 1 ATM visit. <BR>4. Carry a few hundred dollars in American Express checks as an emergency backup. I have some that have made two round trips now, but twice in three visits they have come in handy when ATM machines were not functioning. <BR> <BR>One procedure you need to follow is to take steps to minimize the amount of coins you accumulate. You can have more money in your pocket than you realize if you are not alert. We tend to think of change as quarters. In France and Switzerland, coins worth more than a dollar are common. <BR>I cannot predict 100% how much I will need, but if my surplus money is in metal form, I cannot exchange it in another nation. Paper money exchanges fine, but not coins. <BR>Last year in Paris we had been buying items along where we could not charge and had collected quite a bit of change. That night at the hotel I said lets have a "French metal count." We had something like 200 ff in coins, about $30.00. Fortunately we had time to spend it before leaving. <BR>If I get caught with some money, I can usually unload it at the train station or airport. And there are always beggars around who will help with the unloading. I got nailed 3 times trying to get from the cab to the train last year at Gare de Lyon!! <BR>

Thank so much for your help. I will keep the coin amount in the back of my head.

hi Lydia <BR>One item I would add to Bob's great advice. Check with the Visa card bank you are planning to use to see if they will charge you a transaction fee for overseas charges. We use to use the Northwest First Bank Visa then heard last year they were going to charge a transaction fee for each overseas charge. We were going to OZ and NZ and decided to change to another bank, with no fee. The other couple we were with had switched to Chase Bank and unfortunately they charged a fee for overseas. It was 3% of each charge. When you add up the hotels, tours, gas, restaurants, souvenirs, etc. it added up to about $80 for the 3 week trip.