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Exchanging money

Is it better to exchange money here in the US or should we do it in Europe? Also when should we use credit card vs cash?

Posted by
2787 posts

This question get asked weekly on this web site. First, go to the "Graffiti Wall > Money/Communication > ATMs: Minimizing Fees" for some information. Next, enter the stripped down version of you question in the "Search" box in the upper right had corner of this page. More information is available there once you get the right words to work in the search box. Lastly: there are plenty of people with different answers to your question. Some always take European currency from the US and some (like me) never do. Send me a private message (PM) if you want more information from me.

Posted by
11507 posts

HI Ignacio and Becca. What I do is this. I arrive with about 100 euros in hand ,, just to be able to skip finding and dealing with the ATM at the airport when I am dead tired and jet lagged. Then I settle in hotel ,then I go out and withdraw my limit from an ATM|( please note. go to your bank at home and have your limit raised, remember once $ are converted to euros its not that much) . I keep bulk of cash in hotel safe and only walk around with one days cash on me. Some people prefer to use a moneybelt like that, keeping bulk of cash there and only daily cash in purse. I use my credit card mostly only for hotels and train tickets. Cash for everything else .

Posted by
143 posts

Hello Ignacio and Becca, You have lots of good answers here. The only thing I will add: I try to use cash when possible at small, locally owner restaurants and shops, even when they accept credit cards. The reason being is that these small businesses get charged pretty hefty fees from the credit card companies, so by paying cash I'm allowing them to keep more money in their pocket. And they will like you for it! :-) So, where are you traveling to?

Posted by
638 posts

And be sure to contact the bank(s) that issued the credit cards, atms, whatever you use and advise them of the countries you'll be traveling to so they don't freeze them when their computer system sees foreign transaction on them.

Posted by
133 posts

And when you tell your credit card company the dates and locations of your upcoming travel, be sure to get your 4 digit pin number if you do not already know it. The CC company may insist on mailing it to you rather than telling you over the phone, so allow at least a week for that. If you decide to purchase Euros in the states, you can do a search here for advice on where to buy them, as that question is also asked fairly often.