Trip with 3 Different Currencies

I can't help you with your question about Iceland but I never had any problems in Germany or Switzerland finding ATM's that accepted my debit cards (VISA and MC). I rarely used the credit cards I brought - I think I used it in one hotel and for one train ticket - I always prefer to withdraw cash from ATM and pay for my goods and services in cash if possible.

As for the question about the leftover currency (if any), here is a thread from a few months ago with lots of ideas:

https://community.ricksteves.com/travel-forum/budget-tips/what-to-do-with-that-pesky-leftover-currency

Is it possible to do Iceland without getting any local ISK currency?

Of course. Who would carry Icelandic Kroner with them prior to landing in Reykjavik? I don't even know what bank would have it on hand to exchange - it's an obscure currency. No need to sweat this one at all. I've been to Iceland twice and just used the ATM at the airport or in town, since you can pay for your Flybus transport from the airport online and don't need to have money on you right away. (No, Iceland does not accept Euros - they use local currency like every other country).

I can't see you having any issues finding an ATM at Munich Airport either.

I would keep whatever leftover Euros you have for next time, but would try to spend down any Icelandic Kroner unless you plan on coming back to Iceland (you just might...I did!)

Atms are everywhere and easy to find. .I only use my Visa for hotels and train tickets.. cash for everything else.. and the only thing you need to be mindful of is to take out just enough cover your time at a destination so you don't have left over currency to convert back to dollars..

Is it possible to do Iceland without getting any local ISK currency?

For very small purchases, i.e., coffee, water, snacks, you should have local currency.

When you say use your Visa, I hope you mean you have a debit card for the ATM. Credit cards at ATMs carry additional fees, in my experience.

When you use your credit card for a purchase, they will often offer dynamic currency conversion and offer to charge you in your home currency (Canadian dollars in your case). Do not accept this. Ask to be charged in the local currency as your bank will give you a better exchange rate than the store, hotel or restaurant.

When I was in Iceland last year, I never got any Icelandic krona at all. Credit cards are accepted everywhere and commonly used, even for small purchases. The only place it could potentially have been a problem is on the Reykjavik city buses, where you need to pay the fare in cash (and with exact change) if you don't have a prepaid ticket. But our hotel (Hotel Natura, run by Icelandair) had free bus passes to borrow. Or you can buy the Reykjavik City Card, which includes unlimited bus travel (and museum entry). Or you can go to the main bus station at Hlemmur and buy single-fare bus tickets with a credit card.

I didn't venture much beyond Reykjavik, so I'm not sure if it's harder in the smaller towns to get by with just a credit card.

...money for incidentals.

For some of us older folks, having the correct local coinage is essential to access the public WCs. Local currency/coinage is also needed for transit (although we did use a credit card for a bus in Finland.

If you don't want to have excessive currency you need to practice cash management. If you have a lot of excess your last day, try paying for your hotel with a combination of your excess cash and the rest in credit card charge. The three counties you are visiting have smart people who can do math.

As I travel more, I find myself trying to stay in one country on my trips because things like multiple currencies, multiple languages, rental car drop off, SIM card roaming, etc. don't become problems.

Not everyone has that luxury, so expect to have no problem getting local currency from an ATM - and expect ATMs everywhere (airports, downtown squares and everywhere in between). I've seen ATMs built into stone walls of 12th century buildings. The biggest concern I'd have is leaving a place with too much extra currency that won't be useful after you cross a border. How does your debit card charge you? If possible withdraw small amounts that you know you will use. You can always get more later if you need it.

Some banks charge per transaction, plus a percentage, so bigger withdrawals make sense. Many banks and credit unions have small foreign exchange fees and no per transaction fee. If your bank charges you too much but you don't want to switch, you may want to open a travel account.

Best way to cash in any left over funds is to take them to your local bank or Bank of America offers exchange services free to members. (No charge for changing money over), I'm petty sure they offer exchange for all different types of funds from different countries. :)

When I first toured Europe in 2001, I had to get different currencies for almost every country. I have gone back every year since then and things have really gotten easier with the Euro. This year I will be visiting London and Portugal so I will be needing two currencies. No big deal. I have always waited until I land at my destination airport to get local currency from one of the many ATM machines at all major airports that I arrive at and use a DEBIT CARD tied to a checking account at a local credit union here in Seattle. I can count the number of times that I have used a credit card in Europe on my ten fingers. Only at hotels, when I could not get into a B&B or like purchasing a rug in Turkey. I pay cash for all other expenses. I make sure to alert any financial institution whose plastic I am taking to Europe of my travel plans and I do take two debit cards and two credit cards all from different financial institutions so that I have a back up in case anything goes haywire.

You are likely to need cash in Germany. Credit cards are not widely accepted at stores (big or small) and some cafes. You'll also need it for public transportation. If you have a lot of cash left over, you can put it toward the cost of your room, but leave enough cash to get to the train station and for any incidentals you may want.

Does your Visa charge for international transactions? Some take a fixed percentage. If so, you have time to get a credit card that doesn't have fees. And if you get an ATM card that doesn't take fees (fixed and/or percentage) it's easy to take small amounts as you go.

I was happy enough to use up my few remaining Swiss francs buying chocolate on the way out.

I would buy some Euros and Swiss Francs. Best place is through an ATM. Try to use Bank ATM or ATM at airport. I think you can get by in Iceland with dollars. We stopped there for a cruise and paid for our tour in US dollars. Visa is accepted all over Europe. Plan on buying Euros at Munich airport. You might wish to by Swiss Francs in USA. Bank of America or Wells Fargo have the best rates. You need to have an account with them to buy the cash. By the way, Switzerland is one of the most expensive countries in Europe, about 50% higher than Germany.

Unlike most who have replied, I always get about $60-100 (Canadian) worth of local currency for each country I'm travelling to. It is easy to preorder it from my bank, and my husband and I split it up between us, so neither is carrying a huge amount of cash. We need three different currencies for our upcoming trip, and this is what I have already done.

My preference is not to have to find an ATM as soon as I land, although I imagine the airport in Iceland is small enough that this would be easy. Sometimes we land late at night, such as last year, when our connecting flight to Portugal was cancelled and we had to wait hours. Always, we are tired from an overnight flight. And we almost always stay in apartment rentals rather than hotels, so an ATM might be a few blocks away.

It may not be necessary, but I'm a person who hates to walk around with zero cash in my pocket.

The amount we bring is small enough that we know we will use that and more cash, and we try to plan any withdrawals so that we will use up most or all of our cash by the time we leave that country. If we have a few krona or forints or pounds or Euros left, and we pay a few cents to exchange it (either at the airport, train station, or (more likely) after we get home), oh well. That's a very small price to pay for the convenience of having some cash on hand, IMO.

We were in Iceland for ten days and never used an atm. We used our Visa credit card for all purchases even small ones.

Skatie, you didn't mention whether your VISA credit (or ATM/Debit) card charges 3% for all foreign transactions. Alas, many of them do. In that case, it may not be quite as much a slam-dunk to pay for everything with a card. But your convenience is worth something, too. I have a card I use mainly in the US, and another that I use mainly, but not exclusively, abroad.

Because we go to Europe quite often, I have no problem retaining up to a few hundred Euros in between trips. I doesn't earn interest in a bureau drawer, but I'm also not under the delusion that I'm a skilled currency speculator. (When you think about how individuals are overcharged for many currency conversions, it makes "market timing" even more of a fool's game.)

When I was in Iceland, I did end up using the local currency for small purchases. Some places, especially outside the main cities, may require a minimum purchase on credit cards. I normally get out $100 in the local currency at the airport or once I get into the city for my short trips and just make it a point to use it all (or as close to it as possible). Also, I never exchange money into a different currency. It's too much of a ripoff for me! :)

P.S. Not sure what all you're planning to do in Iceland, but if you get a chance go to Akureyri. I loved the north side of the island, and of course Reykjavik, the Golden Circle, etc.

Hmmm? What to do with leftover ISK? I recommend spending it at the Blue Lagoon shop at the airport (http://www.bluelagoon.com/blue-lagoon-spa/blue-lagoon-shops/). I love their products and was morose when I used them all up on a 2-month trip which started in Iceland.

If you find yourself left with any sizable amount of the local currency, you could ask the checkout person at your hotel to apply it to your bill. I've done that several timew and never found them unwilling to do so. As for small amounts, Chani said it. CHOCOLATE! (or other small items in the airport).

In Iceland, we never even took out any ISK, because literally everywhere we went accepted Visa and unlike mainland Europe, every vendor had the magnetic strip readers so no chip-and-pin was required. This was everywhere from gas stations to restaurants to grocery stores to coffee shops :)

In Germany, with a few exceptions, we just used cash. There are always ATMs at major airports, so unless you really want to get some Euros in advance at an exchange, I would just use an ATM when you arrive in Germany. You should most likely be able to use Visa at your hotel.

I typically get some cash and spend it down before leaving the country. I like to keep a very small amount as a souvenir of my trips.

It's hard to know exactly how much you need. I'm glad my bank charges me a flat one percent on ATM's rather than a fee plus a percentage. I can withdraw small amounts of cash without worrying about running up fees.

" Best way to cash in any left over funds is to take them to your local bank"?

Um, nope, not around here. There are no local banks anywhere outside of Chicago (and I don't have firsthand knowledge of Chicago, either) that do foreign currency exchange. I doubt that most places have foreign currency exchange unless they do international business. Around here, if you want to buy foreign currency, you have to order it. To get rid of it, spend the rest of it at the airport, or use their currency exchange.

Last time I was going home after vacation, I just got what I wanted in the tax-free shop, loaded all my currency on the desk, and paid the rest on my credit card. The teller machine does the math.

On our port stop in Iceland we paid for our tour in US dollars. Never needed local currency. ATMs will take care of your cash needs in Germany and Switzerland.

Hi, I'm the original poster and now that we are back, I thought I'd provide our personal update. We were in Iceland for 2.5 days and the airport stopover on way home. We 100% used our Visa for every purchase - think the smallest purchase was a cup of coffee and they never batted an eye when Visa pulled out. We took out 400 euros from ABM in Munich and Garmisch and used most of it on smaller purchases as snacks or souvenir, or parking, but mostly found all meals or places or stores we visited accepted Visa. In Wengen Switzerland I took out 200 CHF, but again was surprised at how often VISA was accepted. ABMs were plentiful, but for my debit card I needed to ensure I used ones with Plus logo so there was once where I had to go to three different machines before I found a Plus one. We also had a moment of panic in Munich when we went to withdraw euros and card was declined. We figured out later that our request was over the $300 CAD daily limit we had so next day when I tried with lower amount, no problem!