Is it better to buy Euros before trip or use ATMs in Germany ?

Sonny,

Since you will be staying in places that don't accept credit cards, I suggest that you look into opening an account with www.xe.com/fx. Here's how it works. Money is taken from my checking account by electronic transfer and a bank draft in the currency of my choice is sent by US mail directly to the recipient of my choice. The exchange rate is only slightly higher than the international rate on the day the transaction is initiated. There are no fees.

If you don't want to send the full amount in advance, have the bank draft made payable to the B&B but have it mailed to you at home. Take it with you and hand it over in person.

For security reasons it takes a little time and effort to set up an account, but everything goes swiftly and smoothly after that.

Yes. Please read the FAQs - there is a link to many discussions of the best way to handle the money issue.

The only reason to get money in advance might be if you need 1000s of dollars as soon as you land which you couldn't get out of an ATM. You might need to pay rent for an apartment for example. Otherwise the ATMs are the way to go.

That's what worries me. All these B&B's want cash! I sure hope all Bahn automats in Germany and Austria take credit cards.

Don't bet on it and don't bet on the fact you can withdraw as much as you want. Many ATM's set limits on how much you can withdraw.

And using a credit card is not the same as using a debit card. With a debit card you are withdrawing money from your account. With a credit card, you are borrowing money which needs to be paid back--with interest.

Had no problems using credit cards in Italy machines.

Rates (exchanges)are relative at ATM's.
you never really know in advance unless you have a friend who xchgs first at same atm. In any event just stay away from money exchange offices or kiosks which give the lousiest of rates and charge exorbitant fees. I never get euros in USA since it is always better at banksw/atms at airports.

I also have an account with XEtrade (www.xe.com/fx). It's a good company. They will issue you a Euro bank draft, but how do you know if a hotel will accept it?

Also, how would you get your money back if you had to cancel the reservation?

A credit card guarantee is the easiest.

Tyler,

I agree that providing a credit card number to guarantee a room and then paying cash upon arrival is a good idea. However, I once stayed in a cheap B&B in London that wanted the first night's stay to be paid IN ADVANCE--and it had to be either in cash or in the form of a bank draft. They didn't deal with credit cards--period. I learned by exchanging e-mails that they would accept a bank draft. I suppose that I should have asked how I would get my money back if we had to cancel our reservation, but I didn't.

Thanks Tim for the tip on www.xe.com/fx.

So far, only one place asked me for an advanced payment, in Lake Como last year, but I didn't book with them.

The others ask for credit card numbers through e-mail. I guess it's SOP in European B&B's since their websites aren't secure for c.card entries.

In London, I stayed at Jesmond Dene. Small but cozy. It's a convenient location close to St. Pancras station, which connects you to international trains. They take credit cards for additional fees.