Purchase Euro's in advance
Mar 24th, 2008, 04:25 AM
#1
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Purchase Euro's in advance
We are traveling to Italy this summer.
Is it easy to purchase Euro's in advance of the trip (because of the weak dollar).
Is there a limit to what you should purchase in advance.
Is there an advantage to paying with cash or credit cards for expenses.
Thank you.
Is it easy to purchase Euro's in advance of the trip (because of the weak dollar).
Is there a limit to what you should purchase in advance.
Is there an advantage to paying with cash or credit cards for expenses.
Thank you.
Mar 24th, 2008, 05:25 AM
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Sure it's easy. You can buy them through any bank -- so long as you don't mind paying about 10% extra to get them. Otherwise just get them from your bank account via an ATM in Europe and you'll save that money.
Depending on your credit cards and what they add for currency exchange rate, it may cost you up to 3% when you use a credit card. Most ATM's work on just 1% (plus some home banks will charge a fee per transaction of up to $5.
Depending on your credit cards and what they add for currency exchange rate, it may cost you up to 3% when you use a credit card. Most ATM's work on just 1% (plus some home banks will charge a fee per transaction of up to $5.
Mar 24th, 2008, 05:28 AM
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<Is it easy to purchase Euro's in advance of the trip (because of the weak dollar).>
I'm not an economist, but this is what I understand:
The value of the dollar versus the euro varies day to day, even minute to minute. But it is the essentially same all over the world at any time. If there were any significant difference, speculators would get on the phone and buy them in one area and the next minute sell them in another area. Such is a global economy.
I'm not an economist, but this is what I understand:
The value of the dollar versus the euro varies day to day, even minute to minute. But it is the essentially same all over the world at any time. If there were any significant difference, speculators would get on the phone and buy them in one area and the next minute sell them in another area. Such is a global economy.
Mar 24th, 2008, 05:47 AM
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When we go to Italy, we find it convenient to purchase about $250 USD in euros so we do not have to bother hunting up the ATM, once we arrive, at the airport or train station where the rates for currency are generally higher than the norm. Once you are settled in to your hotel, find an ATM and use your debit card to get euros, keeping in mind that you may want to charge most things. We always carry two different debit cards and two different credit cards to ensure that, if one is stolen, we will not be left without cash. Bank of America debit card charges 3% so we hold that one in reserve and use our local bank, which does not charge a fee, for most transactions. Likewise, our Visa credit card from Bank One has fewer fees than our Chase card so we hold the Chase card for a back up.
Mar 24th, 2008, 06:20 AM
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"When we go to Italy, we find it convenient to purchase about $250 USD in euros so we do not have to bother hunting up the ATM, once we arrive, at the airport or train station where the rates for currency are generally higher than the norm."
Huh? The rates at bank run ATMs in all European airports or train stations are EXACTLY the same as the rates at the other ATMs outside of banks, etc. Where did you get the idea that the rates are higher in an airport or train station? Meanwhile I have to laugh at the idea of "have to bother hunting up an ATM". In any European airport, you'd have to almost be blind not to trip over an ATM on your way out.
I don't see anything wrong with spending extra money to have some euros in advance if it makes you more comfortable, but the "reasons" for doing so expressed above, frankly are just plain silly.
Huh? The rates at bank run ATMs in all European airports or train stations are EXACTLY the same as the rates at the other ATMs outside of banks, etc. Where did you get the idea that the rates are higher in an airport or train station? Meanwhile I have to laugh at the idea of "have to bother hunting up an ATM". In any European airport, you'd have to almost be blind not to trip over an ATM on your way out.
I don't see anything wrong with spending extra money to have some euros in advance if it makes you more comfortable, but the "reasons" for doing so expressed above, frankly are just plain silly.
Mar 24th, 2008, 06:26 AM
#6
Hop on over to the Europe forum. This is discussed in great depth on a daily basis.
Bottomline if it makes you more comfortable to have them in advance, get some, but there is no economic gain by doing so.
Bottomline if it makes you more comfortable to have them in advance, get some, but there is no economic gain by doing so.
