I will be going to Europe in two weeks for a vacation. I will be gone roughly 7 weeks and during that time I'm not exactly sure how I am going to pay for things. Obviously, due to the length of the trip, it's not safe to carry a lot of cash and having an excess of traveler's checks to be responsible for would be just as much of a burden. How does it work when you use an American debit card abroad? I know there are fees but are they substantial or hardly noticeable? Are the fees based on the percentage of your transaction or are they set fees?? Please help!
Posted by
Ballwin
833 posts
As long as it is a Visa or Mastercard debit card, you should be good. (Discover and AmEx are not widely accepted, if at all in some areas). Fees depend on the ATM and on your bank. Try to find a bank that has minimal abroad fees (or use a credit union). There will be fees, but it will still be a much smaller percentage than you would pay if you used any other method such as traveler's checks, etc. What I did last summer was I used my debit card every few days to withdraw cash. Then I would use cash to pay for my meals, etc, unless it was a large shopping purchase. This helped minimize the chance that my card would have unwanted activity on it and made transactions easier (using cash). Make sure to tell your bank that you will be traveling (it can help if you can specify which countries) so that if they notice "suspicious" activity (purchases in Europe when they believe you to be in the US) they do not automatically cancel the card.
Posted by
Tresana, Highlands Ranch, CO, USA
23550 posts
Kind of a big last minute detail to be concerned about. Cash is King in Europe so plan on using a lot of it. A debit card at an ATM is the cheapest and most convenient way to obtain local currency. Traveler's Checks have been dead for ten years. No one wants them because of potential fraud. Depending on the ATM card issuer, the fee can be from 1 to 3% so call your bank and ask a lot of questions.
Posted by
Myrtle Beach, USA
12313 posts
Like Frank said, I use cash for all the small items (grocery store, corner food stand, budget accomodations). I get cash from an ATM. Assuming your debit card has a Visa/MC logo and you know your four digit numerical pin, you will be able to get cash (up to your card's daily limit) virtually anywhere. Fees are based on your bank, two weeks may be long enough to open a new checking account if your bank's fees are outrageous. I had a Wachovia account (merged into Wells Fargo), it has excessive fees so I opened a USAA account which was much more reasonable. I also bring a credit card. It's used for booking flights, renting cars, big hotels or fancy restaurants (the last two are rare events for me).