Don't Have an ATM!!

I would just get an ATM card from your "small community bank"- it's a lot easier than carrying around a lot of cash. I belong to a one-branch credit union, and have never had a problem using ATMs anywhere in the world; including China.

Don't forget that Switzerland is not on the Euro....your bank can probably get you an ATM card in less than 10 days. When you get it, practice with it here...you don't want to have to learn how to use the ATM on a foreign machine...too many new things at one time.

Thank you Michael & Bill...I just called my little community bank. They said it would take 11 business days to get an ATM...so I've ordered one. Took me forever to learn how to program a VCR.....techology challenged!! Knew Euro's don't work in Switzerland but was planning on getting a very small amount. By the way....is there anyone in particular (including waiters) that we should consider tipping? Thank you.

Some folks said they got ATM cards on their Capital One accounts. The credit cards take way too much in fees for cash withdrawals, plus you pay interest from the day you pull the cash out. Currency rates change like all market rates. From day to day the rate changes based on the relatively changes in the $ and the Euro. Usually (not always, I hear) US banks give a worse conversion rate than you'll get in Italy. Some exchanges claim "no fees" but they get it by offering a poorer exchange rate, so you should just calculate based on how many euros you will get. Ask for that info BEFORE you give them your $$. In most places in Europe you can change money at banks or at money changers. The rates can vary from agent to agent.

Also check with your card issuers for their fees on foreign transactions - some take more, some less. Good to know which to use most.

I just look at all the fees as part of the cost of my trip.

The old rule is: figure out exactly what you need to pack, then leave half of that at home; figure out how much cash you'll need, and take twice as much. For me, the problem is carrying a lot of cash, now that traveller's checks are not accepted much of anywhere. Money belt and prayers . . .

Rule of thumb: Use credit cards for major purchases and get cash from ATMs for everything else. There are some important things to do BEFORE leaving home to be sure your cards will work in Europe. Read this article by Rick Steves on the subject.

Also alert your bank and credit card companies that you will be in Europe and when so they don't freeze those cards for fraudulent use.

Here's Rick's Page on Tipping:

Rick Steves on Tipping in Europe

In a couple of years on the RS site, I can't recall anyone (okay, maybe one) saying they were going to Europe, didn't have an ATM card and weren't going to get one. With an ATM card it takes 30 seconds to get euros. Standing in line at banks (and getting a lousy exchange rate) or trying to find currency exchange bureaus (and getting a really lousy exchange rate) will be a time consuming and expensive hassle. You'll be doing yourselves a big favor by getting an ATM card before you go.

Don't forget that European ATM's do not have letters on them, so make sure you know the numbers and not the letter for your pin. Also check and see what the banks fees are for withdrawls, my banks charges $5 so I try do what Rick recommends take a large sum out say for a week, put it in your money belt and keep just a days spending your wallet. I also got pin numbers for my credit cards so I could withdrawl cash from ATM's with my credit card, just in case my ATM card got lost or stolen. Setting up a pin for a credit card is easy they can do it at your bank in just a minute or mail you one. Also make sure you know what your withdrawl limit is, some banks only let you take out so much with your card every few days.

Susie, to add the the previous comments, be sure that your travel funds are in a chequing account with a four number PIN. I'd suggest trying it at your small community Bank before travelling, in order to familiarize yourself with using it and also to make sure it works. The European ATM's are very easy to use, so I doubt you'll have any problems.

It's always wise to have a "backup", so you might "pre-load" one of your credit cards with cash. That way if you need to make a cash withdrawal, you won't be charged expensive interest which usually accrues from the time of the withdrawal.

You'll probably find that the American Express card isn't accepted at too many places, but it might be a good way to obtain "emergency cash" at an AmEx office if you have problems.

Happy travels!

Thank you...everyone for sharing your tips and experiences....very much appreciated. This bad economy does make one realize some of the best advice was take 1/2 of what you wanted to pack and twice the amount of money you thought you'd need! Rick Steve's guidelines were also very helpful. Many thanks to all of the replies.

Susie, I think you should tip all of us for the valuable information! Seriously, a great question so now I'm going to post it as a new topic.

Susie -- check with your credit card companies to see how much of a foreign transaction fee they charge. I think you'll find that Capital One is the only one that doesn't charge a fee at all. I know my American Express card charges 2% and my Chase Visa charges 3%. My husband's State Farm Visa only charges 1%, so that will be my backup card for my October trip to Germany and Venice.
Have a great trip!