I have read what most people have commented on this site and its helpfull, but i am still confused with the hole money exchange situation.. would some of the more experienced travelers give me some advice on what i should do? Should i change money before leaving? or change it at the atms in europe? is the rates high?
PLEASE HELP.. AND JUST INFORM ME OF WHAT YOU THINK IS THE BEST THING TO DO FROM EXPERIENCE
My two cents (ha!): cheaper to exchange most money when on-the-ground in Europe, especially if you take the max from ATMs to reduce fees, but to me, the benefit in exchanging quite a bit before, despite some increased fees paid, is peace of mind. I imagine most will tell you that it's best to take a small amount from the states, but then exchange in Europe. My head says they're right, and yet I prefer to do the opposite. It's not rational, mind you, but if we were all rational all the time, what fun would that be? (:
Use the ATM's in Europe and your credit cards. Yes, technically the rates are higher then changing it at home, but it's worth the convenience.
One trip we actually compared rates as if we would have changed it at home. At home, we would have saved $20. That's it. I'll happily sacrifice $20 for not having to carry a lump of cash with me all the time.
Also, forget Travelers Checks. Use the ATM instead.
Pete
I land in Europe, find an ATM and get Euros. I pay cash for almost everything in Europe and just get Euros out of an ATM. It is the easiest and you get the best "going" exchange rate. There are some things you can do before you leave home to save money:
Look for a debit card that has a lower conversion rate. The going rate seems to be about 3%, both of my credit unions charge 1%.
Have 2 debit cards with 2 different banks or credit unions. We had trouble with one of our debit cards and it wouldn't give us money in a timely manner. Having a back up is important. Also, most cards have a daily limit. Having 2 cards doubles the amount of money you can take out in a day.
I always carry a credit card for emergencies, but don't use it due to the higher conversion fee. Capital one has a card that has no conversion fee, so if you want to use a credit card, get a capitol one card.
I always try to find ATMS that are "attached" to a bank and part of that banks system. This is true in the US as well.
Many, many experienced travelers will say the same thing: Use your ATM card. Commit to it and be done worrying about it. I once looked into taking Euros from home (just to get started) and it was such a headache I never got around to doing it.
Mily -- I don't know what is confusing for you. Every posting from experienced travelers indicated that you should use a debit card at an ATM for local currency and perhaps a credit card or for routine expenditures. I personally prefer to use cash for nearly everything. But it is your call. If you use a credit card you will pay roughly 1 to 3% over the purchase price BUT that is totally dependent on your card issuers. However, some credit cards do not charge fees. Even with the fees there is no other way to do it.
What's the confusion? Simply get off the plane in Europe. Find an ATM at the airport and get some money. Simple as that. When that runs out get some more.
ATM's are everywhere in Europe. Also could you PLEASE stop capitalizing! Thnx.
I cant believe someone would say something so childish like plz stop capatalizing Thanks!! whats the big deal come on..
AND FOR THOSE WHO GAVE ME GREAT ADVICE LIKE ALWAYS THANKS!!!!
Mily, maybe I understand your confusion now. You have difficult with the printed word. There are some common curtsies that are generally extended and accepted when corresponding on the internet. Just like in any polite conversation between two people there are certain conventions. Capitalization is considered as shouting, being rude, and maybe a little obnoxious. And beside all cap text is harder to read. And IF you have bother to read, "Please read this before you post," you would have read that the webmaster of this sites requests that you do not use all caps. So when someone asks you not to capitalization they are asking you not to shout or to be rude. Unless, of course, you feel you have a need to be shouting at people. Remember your writing creates your image, and, right now, it is not very high with me.
Mily, I have a few thoughts to add to the other replies. The "whole money exchange situation" is not too difficult. Here's a step-by-step guide that might help.
As I recall from another post, you're traveling to Spain. I'd suggest that you contact your Bank and obtain about €50 or so for use during the trip. That way you'll have some funds to buy a meal or whatever until you get organized.
Take at least two ATM Cards, preferably on different accounts. That way you'll have a "backup" if there's a problem with one of the cards. Note that your funds must be in a chequing account with a four-number PIN.
Notify your Bank that you'll be traveling in Europe, and provide them with the dates of your trip. It would also be a good idea to review your daily withdrawal rate at that time, keeping in mind that any withdrawals in Europe will include foreign currency exchange fees.
I don't normally leave all of my travel funds in the account that is accessed by the ATM card. I leave a limited amount there to begin with and then transfer funds from other accounts as needed. That way if the card is stolen, the thieves will only get a small amount of money. I transfer using a Cell Phone, but if you have a trusted relative, they could handle this for you.
It would be a good idea to take at least one credit card also, in case of "emergencies" or other unexpected circumstances.
I can't recall if I suggested this before, but I'd highly recommend that you read Europe Through The Back Door before your go, as it provides lots of information and covers the money aspect really well.
Hope this helps. Happy travels!
I would concur and might recommend simply visiting your local library branch or bookstore and picking up a copy of ETBD by Rick Steves (or you can order the 2009 edition from this website). You'll find that most of your basic travel questions will be answered in full. If you need a deeper dive after reading the book, this forum is a great resource.
Hi Mily,
I understand the money thing is big the first time you travel. You really, really, really NEED to buy a good travel guide. Michael suggested ETBD is an excellent resource. I second that. There's more to know about money than you will get from a post or two. It's also less confusing to get information expressed in a structured, organized fashion--which a guidebook does-- than piecing together multiple random posts on the helpline-- uh, as helpful as we are.
