I will be traveling to Zurich in a month to purchase from an individual who doesn't take credit cards. I presume that I can't get $2000 from an ATM. What is the best way to get the $$? Should I just get AMEX Travelers Cheques and trade them at a bank in Zurich? Thanks!
Posted by
Calgary, Alberta, Canada
368 posts
I would check with your bank to see if you can get your daily withdraw limit increased to $2000. You might have to hit several ATMs, but you if you increase your limit then you should be able to do it.
Posted by
OP
McKinney, TX, USA
6 posts
I didn't know that was an option! I'll check with my bank. Thanks so much!
Posted by
Minneapolis, MN, USA
8700 posts
Elizabeth - I suggest you consider opening an account with www.xe.com/fx. I use mine to send gift money to relatives in the UK and to pay the deposit at B&Bs that don't accept credit cards. Money is taken from my checking account by electronic transfer, a bank draft is issued in the currency of my choice, and it is sent by US mail directly to the recipient of my choice. Since in your case you might not want the seller to receive the equivalent of $2000 before you arrive in Zurich, you could have a draft in Swiss francs made payable to the seller but mailed to you at home. Then you could hand it over in person when you get to Zurich.
The exchange rate is only slightly higher than the international rate on the day the transaction is initiated. There are no other fees. For security purposes, it takes some time and effort to set up an account; but everything goes swiftly and smoothly after that.
Posted by
Bend, OR, United States
1167 posts
The practical limit on ATM withdrawls is what the local system will allow rather than what your card's daily limit is. Especially in small towns you may be limited to the ATMs limit of 2-300E even if you have a higher limit on your card. The other machines in town will know that already made the maximum withdrawl and will not process your transaction.
Posted by
Bend, OR
576 posts
I asked my bank to raise the limit but they said they never do that. Rather, my husband and I can both withdrawl something like $300 daily from each account. We have several other credit union accounts we only use for trips to Europe. We keep something like $50 in each one most of the year, then load them up for European trips, especially when we need to get a lot of cash for apartment rentals. It's also great to have these extra back-up accounts in case something happens to one of our cards.