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Wiring money

We have reservations at an Amsterdam lodging place mentioned in the Rick Steves book. With our large group, our cost will be around $2000. We have the choice of paying with cash or wiring a bank transfer 7 days before arrival. Advice?

Posted by
7054 posts

If I'm understanding correctly, you have the choice to pay with cash once you're on the ground? I'd take that over wiring money any day. Once it's gone, it's gone. The only other option I'd take is a small pre-payment by PayPal, but never wiring as much as $2,000 (which will come with expensive transaction fees on top).

Posted by
2684 posts

I'd pay cash as well. I've wired money a few times. It's a hassle but I do it when I have to. I don't mind carrying cash with me to get rid of on arrival.

Posted by
8889 posts

You say "around $2000.". The currency in the Netherlands is (Euros), not $ (of any sort). I presume they want Euros. With an amount this large you will have to tell your bank to order it specially, and it may take some time.

Sending money to another account (even in a different country) using online banking is the normal method n Europe, I use it to pay all my bills. This is why they are suggesting this method.

BTW, if you take more than €10,000 (or equivalent) in or out of the EU, you have to declare it to customs, but you should be well under that limit. I don't know what the limit is for your home country (you don't say where you live).

Posted by
7054 posts

If you have "a large group" then I imagine that everyone can just bring their cash share. No need to order a large amount, right?

Posted by
818 posts

I recently used a site called transferwise.com to complete purchase of some museum tickets (wouldn't take credit card - bank transfer only). The whole transaction was very easy and company seems legit.

Posted by
543 posts

I've started using email money transfers lately (both sending them and receiving them) for personal transactions and for my small business. It's extremely convenient. These are offered by the 2 chartered banks and 1 credit union I deal with. The link to get started is on the financial institution home page after you are logged into your account.

Transaction fee is $1.50 no matter the size of the transaction.